04-08-2025
Azimut Egypt plans to launch new dollar fund in October
Azimut Egypt for asset management, a subsidiary of the global Azimut Group, which is listed on the Milan Stock Exchange, intends to launch a new dollar fund next October, said Ahmed Abou El Saad, the CEO of the Egyptian company, while speaking to Zawya Arabic.
The asset management sector in Egypt has recently recorded a significant development in the diversity of investment funds. According to official data, there are six dollar-denominated investment funds licensed by the Financial Regulatory Authority in Egypt.
"In October, we will start a new dollar fund," said Abou El Saad, noting that the maturity date of the fund will be determined in the coming period.
The company has been operating since 1994, when it was known as Delta Brokerage, and has undergone several acquisitions. The latest acquisition was in 2019, when Azimut Global Holding fully acquired it.
Azimut Egypt manages assets exceeding 26 billion Egyptian pounds ($534.4 million), according to its website.
Abou El Saad said the new fund will coincide with the liquidation of the AZ 2025 Dollar Fund, which was launched in 2023 and has a value of around $9 million, with returns of up to 25% through its term.
Azimut Egypt currently has three dollar funds with maturity dates in 2025, 2027, and 2029. According to Abou El-Saad, the total value of the three funds is approximately $45 million.
Click here to read the article in Arabic.
