Asset management firm, Rasmala Egypt says it plans to increase its assets under management (AUMs) to 7.5 billion Egyptian pounds ($414.4 million) at the end of the current year.
Rasmala AUMs in the North African country currently stand at 6.5 billion pounds, its chairman Ahmed Aboul El-Saad further added on Monday.
The planned increase in AUMs will be driven by launching new financial products and promoting current mutual funds besides focusing on portfolio management, and institutional businesses, Aboul El-Saad further told Amwal Al Ghad.
Rasmala is currently running two mutual funds in Egypt; Arab Banking Corporation’s (ABC Bank) money market fund and Export Development Bank of Egypt’s (EDBE) fund.
Rasmala Egypt Asset Management, the investment arm of European Islamic Investment Bank-Rasmala, runs a number of financial portfolios in addition to funds. 
