Tharwa Capital debuts its fixed-income fund
Tharwa Capital for Financial Investments announced the launch of its first investment funds in the fixed income instrument marketunder the slogan “ Liquidity Life Investment Fund in Egyptian pounds with a cumulative daily return.”
The new fund will be runby Misr Capital, the investment arm of Banque Misr, in cooperation with Tharwa Investment Management Company, with an initial volume of EGP100 million.
Head of Financial Sector at Tharwa Capital Aymen Al Sawi said the fund is the first investment pool unleashed by the group, as it “ fulfills our strategic orientation towards expanding into attractive investment instruments fitting all segments of clients, individuals and institutions, while coping with changes and current developments witnessing a growing demand for varied saving instruments.”
By launching the fund, Tharwa Capital strives to introduce a saving instrument for the benefit of both individuals and institutions with the aim of maximizing returns and curtailing investment risks along with providing clients with daily liquidity by means of generating daily cumulative returns from money put in the fund.
On the same vein, chief executive of Misr Capital Khalil Al Bawab said “ The fund allows for daily payback, underwriting, buying as regards instruments issued by both Misr Capital and Misr Capital Securities Brokerage.”
“ The fund will buy short and medium-term highly liquid securities such as treasury securities, sukuk, certificates issued by the Central Bank of Egypt, repurchase agreements, and other money market funds instruments with maturity dates not exceeding 150 days.”
Misr Capital, the investment arm of Banque Misr, has EGP4.2bn capital along with assets and contributions worth USD2bn.
The fund provides investment services in asset management areas including stock funds,portfolios, Islamic, balanced shares, along with capital protection, cashand fixed income instruments.
