• Beltone Evolve Gold Fund Sabayek Launch: Beltone Asset Management, a subsidiary of Beltone Financial Holding, introduces the Sabayek fund, co-sponsored by Beltone Securities Holding and Evolve Investment Holding, focusing on direct investment in 999.9 purity physical gold bullion.
• Fundraising Goal and Structure: Sabayek aims to secure EGP10 million by offering 100,000 units at a nominal value of EGP100 each. The fund’s initial seed capital is EGP 5 million, and Egy-Cash, a reputable institution owned by the Central Bank of Egypt, will fully insure and store the physical gold bullion.
• Strategic Investment for Gold Market Demand: The fund, designed to provide an alternative investment avenue for gold in Egypt, responds to the increasing global demand for gold as a hedge against inflation and currency fluctuations.
Beltone Asset Management, a wholly-owned subsidiary of Beltone Financial Holding, has introduced the Beltone Evolve Gold Fund Sabayek, according to an official statement.
Co-sponsored by Beltone Securities Holding and Evolve Investment Holding, Sabayek aims to directly invest in physical gold bullion with a minimum purity of 999.9.
The fund’s objective is to secure EGP10 million by offering 100,000 units, each with a nominal value of EGP100.
The initial seed capital for the fund is set at EGP 5 million. Egy-Cash, a reputable financial institution owned by the Central Bank of Egypt (CBE), will fully insure and store the physical gold bullion held by the fund.
Sabayek is designed to offer investors an alternative avenue for investing in gold in Egypt, responding to the growing global demand for gold as an inflation and currency hedge.
Khalil El-Bawab, CEO of Local and Regional Markets at Beltone, emphasized that this partnership provides an opportunity to access the stability and long-term value of gold as an investment asset.
El-Bawab added that Sabayek aligns with Beltone’s strategy to offer a diverse range of mutual funds catering to various investors and their investment goals.
Sameh El Torgoman, Chairman and CEO of Evolve Investment, said, “By launching a new gold investment fund, we are not only providing investors with a unique opportunity to invest in 24-carat gold, but we are also supporting the efforts of the Financial Regulatory Authority to innovate and introduce new products.”
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