Cairo – Mubasher: Egypt's Beltone Financial seeks to quadruple the value of its index fund in a year, the firm’s asset management director Kareem Naema told Reuters.
The company also aims to list the index fund on the Nasdaq Dubai, alongside the Egyptian Exchange (EGX), Naema added.
The first tranche of the index fund will be allocated for investing between $100 million and $200 million in Egypt, he noted, pointing out that it witnessed big flows after the liberalisation of the exchange rate, as the value of the fund currently amounts EGP 55 million.
He explained that he aims to quadruple the value of the index fund through promoting tours that Beltone will perform in the coming period to the Gulf states, Europe, and the US.
