Sunday 06 February 2022
Hala Al-Saeed, Minister of Planning and Economic Development and Chairman of the Board of Directors of the National Investment Bank, announced the launch by NI Capital of the new “15/30” fund for fixed income instruments in the Egyptian pound, with a target issuance size of between 50 and 100 million pounds.
The minister said in a statement from the Ministry of Planning today, Sunday, that the opening of the subscription period will start on Tuesday, February 15, 2022.
She stated that the new investment fund comes within the framework of the strategy of “NI Capital”, the investment arm of the National Investment Bank, to enhance its role in achieving financial inclusion, developing the capital market, meeting the needs of the market and the requirements of its clients, both individuals and institutions, and to complement the company’s path of success.
Ashraf Negm, CEO of the National Investment Bank and Chairman of the Board of Directors of NI Capital, said: “The introduction of the fixed income investment fund by NI Capital is a new step in the company’s path as a leading provider of non-bank financial services, and in strengthening its role in diversifying the investment products that it offers. It is provided to meet the needs of customers and support the Egyptian economy.”
Mohamed Metwally, CEO and Managing Director of NI Capital commented on this offering, saying: “The launch of the new 15/30 fixed income investment fund comes as a continuation of the success achieved by NI Capital in offering and managing investment funds ( The (cash) liquidity, (education is life), and the investment portfolios of many investors, whether from government institutions or private sector clients.”
He added: “Investors on (15/30) will be able to purchase the fund’s documents after closing the initial subscription during any working day, but the redemption will be on the 15th and 30th only of each month, which will provide an opportunity to improve the return on what is achieved by highly liquid cash funds.”
Mohamed Al Nabarawy, CEO of the Asset Management Sector at NI Capital, said that the company’s asset management is working to introduce new and innovative products as part of its strategy to support the state’s plan and work to achieve sustainable development goals.
He added: “The new (15/30) Fund for Fixed Income Instruments seeks to provide and make new investment tools available to various segments of society, whether they are institutions or individuals.”
The “NI Capital” investment fund for fixed income instruments aims to provide a distinctive savings and investment pool commensurate with the low degree of risks associated with the invested instruments, according to the statement.
The fund invests its money in treasury bills, treasury bonds, securitization, sukuk, bank deposits and movable values.
According to the statement, “NI Capital” contracted with Arabia Online, which is wholly owned by it, to receive subscriptions and promote the fund among customers from the individual and institutional segments, with the ability to receive subscription electronically, while “NI Capital” undertakes the promotion and receipt of subscription by major institutions. .
In February of last year, NI Capital established the “Siola” cash fund, the first of its kind to be established by an investment bank in Egypt, and it is also the first cash fund to invest in movable assets, according to the statement.
The size of the “Siola” fund by the end of 2021 amounted to about 4.5 billion pounds, and the fund achieved the highest annual return among the monetary funds operating in Egypt in the period since its establishment until the end of 2021.
NI Capital also manages the National Charitable Investment Fund for Education “Education is Life” with the aim of providing sustainable financing for educational projects and raising the level of the Egyptian citizen, in addition to providing a distinguished educational service directed to the areas most in need, while managing charitable work and endowment in an institutional and professional manner. The size of the fund so far is more than 190 million pounds, according to the company.
NI Capital was established in 2015 as an independent financial services company, managed with the thought and expertise of the private sector, and aims to effectively contribute to achieving economic development, and provides a full range of investment banking services, investment management services and financial advisory services in the Egyptian market.
The company also manages the government offering program in order to attract local and foreign investments to the Egyptian Stock Exchange and diversify the government’s sources of income, in addition to providing financial advice and promoting private sector companies’ offerings, according to the statement.