Thndr Securities Brokerage, the fully licensed investment platform, just revealed Mutual Funds to be its second investment product. Thndr makes it easy to invest in stocks, bonds, and funds, aiming to solve Egypt and the region’s painful, outdated and time consuming process to open, fund and actively manage investment accounts.
Thndr partnered up with the fully licensed Azimut Egypt, the local investment arm of Azimut Group, one of Europe’s leading independent asset managers to bring you the new Egypt-focused fixed income mutual fund AZ-Savings. AZ Savings will be the first mutual fund on the Thndr app. It is an open-ended private placement fund investing mostly in near-term fixed income instruments.
AZ Savings fund invests in low risk instruments like treasury bills, treasury bonds, corporate bonds and sukuk. It is considered a low-risk, liquid investment instrument. You can invest in the fund daily and redeem weekly.
“At Thndr we believe that everyone should have access to financial services and products that can make your money work for you. All taking you a bit closer to the ultimate goal of financial freedom. That’s why we’re excited to introduce our second investment product—Mutual Funds.”Ahmad Hammouda, Co-Founder & CEO, Thndr
Everyone who invests in the fund owns certificates issued by this fund. These certificates give everyone the same mix of investments in the same proportion. As the value of the fund as a whole rises or falls, each person’s certificate value will go up and down with it.
“AZ Savings fund had an impressive start raising more than EGP 650 M in a few weeks which reflects how the market is in deep need for such a product. At Azimut, we are big believers in technology and that’s why we are so happy with our partnership with Thndr and we are confident in our ability together to make this fund accessible to all types of Investors”.Ahmed Abou El-Saad, Managing Director, Azimut Egypt
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.