CI Capital's subsidiary launches Egypt's 1st sustainable equity fund Misr Green
Arab Finance: CI Capital Asset Management, a subsidiary of CI Capital Holding, has launched Egypt's first open-ended sustainable equity fund, Misr Green – Sustainability (ESG) Fund, as per an emailed press release.
The fund, which will be the first sustainable fund offered on Egyptian banking platforms, opens for subscription on Wednesday, June 18 th, through CI Capital Securities Brokerage as the receiving entity. Meanwhile, the purchases and redemptions will be implemented through Banque Misr.
It aims to invest in the 30 best-performing listed companies on the Egyptian Exchange (EGX) across a diversified range of sectors, including financial services, industrials, healthcare, consumer goods, and real estate.
The fund targets sustainable companies, achieving a return that reflects the index's performance with a correlation coefficient of at least 90%, taking into account tracking error.
The Misr Green – Sustainability (ESG) Fund is an open-ended ESG index tracker fund that invests in the 30 best-performing listed companies on the Egyptian Exchange (EGX), selected for their leadership in environmental, social responsibility, and governance (ESG) standards across a diversified range of sectors.
Amr Abol Enein, CEO and Managing Director of CI Capital Asset Management, commented: 'The launch of the Misr Green Sustainability (ESG) Fund is a new chapter in our ongoing effort to offer innovative, impact-driven investment products to both institutional and individual investors.'
The launch aligns with CI Capital's growth plans to introduce new investment solutions to meet the evolving needs of both institutional and individual investors within the local market and abroad.
Misr Green – Sustainability (ESG) Fund is the company's third index-tracking product following its equity fund tracking the EGX30 Capped index, 'Misr Equity', in October 2022, and 'Misr Shariah Equity' that tracks the EGX 33 Shariah index.
This also follows the recent launches of its sector equity fund and the USD fixed-income fund.
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