INVESTMENT WATCH- Beltone Financial will launch in September a USD 1 bn fund to invest in fixed-income instruments, CEO Bassem Azab said in an interview with Ihab Farouk from Reuters’ Arabic service. The fund targets foreign investors from the GCC, Europe, and the US, Azab says, adding that its roadshow will begin after the Eid break in September and will hit the US by October. Beltone is looking to raise AUM of about USD 150-200 mn in its initial phase. Azab also added that Beltone is targeting growth in frontier markets and is looking to acquire brokerage houses there through its US subsidiary Auerbach Grayson & Co, of which Beltone owns a 60% stake. Azab says Beltone is in the lookout for brokerage houses to acquire in Egypt as well, with an aim to become one of the top two brokerages in the country in 2018. The number one slots are currently held by EFG Hermes and CI Capital.

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