Misr Asset Management plans running two state-run mutual funds

Misr Asset Management, the investment bank arm of Misr Insurance Holding, is planning to run two new mutual funds soon, chairman Atef El Mahmoudy announced Sunday.

The first fund, owned by Misr Insurance Company, is a fixed-income, El Mahmoudy told Amwal Al Ghad. The second is a capital protection oriented fund, owned by Misr Life Insurance Company.

“We are planning to conduct the final studies and drafts before marketing the two funds,” he added.