The Financial Regulatory Authority (FRA) is allowing the establishment of SME-focused fund-of-funds, FRA boss Mohamed Omran said on Tuesday, according to Al Shorouk. Fund-of-funds typically invest in other funds or in entire portfolios as opposed to one particular asset. These vehicles are increasingly being used channel funding to SMEs through venture capital and private equity funds. Fund-of-funds in Egypt will be allowed to invest in portfolios of SME-focused funds and NGOs engaged in SME financing, said Omran.

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