Arab Investment Bank (AIB) received the Central Bank of Egypt’s approval on launching Shield investment fund with initial capital of EGP 25 million.
Sources said Shield fund will invest in shares and fixed income instruments, providing 90% capital protection. AIB sent all required documents to the Egyptian Financial Supervisory Authority.
CI Capital Holding will manage the fund which is expected to be launched in August or September.
AIB has three other investment funds which are cash investment fund with daily cumulative return managed by EFG Hermes, sharia-compliant ‘Hilal’ fund, the first investment fund launched after last year’s revolution and is managed by Cairo Funds Management and ‘Sanadi’ fund, launched in the third quarter of last year, managed by HC Securities & Investment and is investing in fixed income instruments.
