EFG Hermes Asset Management to manage two funds for Ahli United Bank

EFG Hermes Asset Management to manage two funds for Ahli United Bank: EFG Hermes Asset Management has been selected to manage two Ahli United Bank-Egypt funds, the bank’s “Tharwa” money-market fund and its “Alpha” Egyptian equity fund, according to an EFG Hermes statement. The move brings the number of conventional money-market funds managed by EFG Hermes Asset Management in Egypt to seven and its total number of funds under management to 18. The move is telling of an apparent uptick in money-market fund investments in the country. “The Egyptian capital market is gaining momentum, leading a growing number of investors to become willing to deploy funds here,” said Karim Moussa, head of asset management & private equity at EFG Hermes.