Azimut to set up Egypt-focused equity fund: Italy-based asset manager Azimut Group has completed the procedures to establish a fund to invest in publicly-traded Egyptian companies, Managing Director Ahmed Abu Saad told the local press. The fund will be based in Luxembourg, and is expected to launch before the end of 2019, Abu Saad said. Azimut in August completed the acquisition of 100% of Rasmala Egypt Asset Management (REAM) from its parent company Rasmala Group for EGP 211.3 mn.

Correction: 14/10/2019.

A previous version of this article incorrectly stated that Azimut were establishing a private equity fund.

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