CI Capital, a leading diversified financial services group, announced that CI Capital Asset Management launched an equity investment tracker fund with a cumulative long-term return, named Misr Equity. A tracker fund typically means a fund that aims to follow in value a stock market index or group of indexes.

The aim of a tracker fund is for investors who lack the time, knowledge, or inclination to invest in individual funds on a stock exchange, to hand over their money to a fund manager or team of fund managers, who will invest their money in a wide range of companies.

The Misr Equity fund simulates the returns of the Egyptian Stock Exchange (Capped EGX30) through investing in a stock portfolio targeting a close representation of the index. The subscription opened on October 10, 2022.

Ayman Amer, Equity Investment Director, stated that the fund will include a portfolio of stocks in multiple sectors, including finance, technology, energy, commodities, and the food sector.

Amr Abol-Enein, CEO of Asset Management and CI Asset Management’s Investment Committee, explained that the company aims to diversify the range of investment products it offers to clients and provide new solutions to investors who want to take advantage of the uptrend in the stock market and are looking for long-term returns on their investments.

Misr Equity is an open-ended fund currently open to the clients of CI Capital, CI Capital Asset Management, Misr Capital Brokerage, and Mubasher. The minimum investment is EGP 100, or 10 mutual fund units costing EGP 10 each.