Cairo – Mubasher: Acumen Asset Management is looking to create two new investment funds worth a combined value of EGP 200 million.
The company has addressed one an insurance company entities regarding the setting up of an EGP 100 million cash fund, head of business strategy and product development May El Haggar told Almal News.
The second fund will be a guaranteed capital fund with the same target value, she continued.
The Egyptian firm is currently negotiating with an investment company over establishing the guaranteed capital fund, with talks like to end in a short period, the head of business strategy added.
Acumen is also seeking to boost the volume of managed assets, currently worth EGP 1.6 billion, through raising the value of financial portfolios, in addition to raising new investment funds, El Haggar concluded.
