– Menthum has launched the “Menthum USD Fixed Income Fund,” a US dollar-denominated mutual fund aimed at providing secure, high-yield savings options for individuals and businesses, in partnership with CI Capital Asset Management.

– The fund is designed to deliver stable returns through low-risk investments in high-quality fixed-income securities, including US Dollar-denominated T-Bills and Eurobonds, and offers daily liquidity for flexible purchasing and redemption.

– Regulated by the Financial Regulatory Authority of Egypt (FRA), this fund is part of Menthum’s broader strategy to expand financial inclusion and provide innovative savings and investment solutions to its clients, with subscriptions starting on August 26th, 2024.

Menthum, Egypt’s digital savings platform, has introduced the “Menthum USD Fixed Income Fund,” a mutual fund in US dollars, created to offer a secure, high-yield savings solution for individuals and businesses.

This fund, a collaboration with CI Capital Asset Management, targets stable returns through investments in low-risk, high-quality fixed-income securities such as US Dollar-denominated T-Bills and Eurobonds from the Egyptian government.

Fully regulated by the Financial Regulatory Authority of Egypt (FRA), the fund is ideal for those looking to protect and grow their wealth while managing foreign currency cash. It offers daily liquidity, allowing for flexible purchasing and redemption of fund certificates. Additionally, it forms a core component of the “Menthum USD Savings Account,” providing a user-friendly alternative to traditional savings accounts. Users can easily monitor their savings, daily earnings, and transaction history via the Menthum app.

“At Menthum, our mission is to create innovative financial solutions that cater to the evolving needs of people in Egypt,” said Himanshu Shrimali, Co-Founder and CEO of Menthum.

“The launch of the “Menthum USD Savings Account”, powered by the Menthum USD Fixed Income Fund, represents a significant milestone in our quest to empower Egyptians by providing financial products that make their money work harder, thereby improving their financial well-being. We take this opportunity to express our gratitude to the FRA for their pragmatic regulations and supportive approach that areconducive to innovation and progressive governance,” Shrimali added

Amr Aboul Enein, CEO and Managing Director of CI Capital Asset Management, added: “CI Capital Asset Management is pleased to be the investment partner and manager of the fund, that caters to investors searching for attractive returns, diversification of investments in a modern, accessible manner, and offering liquidity for cash management purposes for those holding foreign currency.”

Ismail Sarhank, Co-Founder and COO of Menthum, said: “Our partnership with CI Capital Asset Management, a renowned investment manager, aligns perfectly with our vision to expand financial inclusion and offer accessible, transparent, and efficient saving and investment solutions.

“This product is a direct response to the needs expressed by our clients, who require a reliable US Dollar savings vehicle for varied purposes such as saving for international education fees, proceeds from exports or startup funding etc. We are confident that this fund, offering both stability and growth, is a significant value-add for them,” Sarhank added.

Tarek Shahin, Chief Investment Officer of CI Capital Asset Management, said of the fund’s planned investment strategy: “The fund aims to diversify and target optimal duration across the yield curve to achieve the highest possible return while ensuring liquidity to align with the customers’ needs for seamless purchase and redemption.”

Subscriptions for the Menthum USD Fixed Income Fund will commence on August 26th, 2024.