{"id":561399,"date":"2021-04-06T04:00:43","date_gmt":"2021-04-06T04:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/azimut-egypt-eyes-two-new-funds\/"},"modified":"2021-04-06T04:00:43","modified_gmt":"2021-04-06T04:00:43","slug":"azimut-egypt-eyes-two-new-funds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/azimut-egypt-eyes-two-new-funds\/","title":{"rendered":"Azimut Egypt eyes two new funds"},"content":{"rendered":"

<\/a> Azimut Egypt Asset Management plans to launch two new funds this<\/strong> year<\/strong>, with one going live within a few days and the other coming after Ramadan, Managing Director Ahmed Abou El Saad said at a conference yesterday, according to Hapi Journal<\/a>. The Italy-based asset manager has obtained all necessary approvals for the funds and completed all the required procedures, he said without revealing further details.<\/p>\n

Azimut\u2019s first equity fund had a good 2020:<\/strong> Opened in July of last year<\/a>, the AZ Equity-Egypt fund grew 35% during the latter half of the year to reach EGP 250 mn, primarily due inflows from European investors, El Saad said yesterday. The firm said at launch that the Luxembourg-headquartered fund would open with USD 10 mn in capital, and target USD 50 mn in AUM as a \u201cfirst stage.\u201d<\/p>\n

And its bond fund has more than doubled in value since it <\/strong>launched in October<\/a><\/strong>.<\/strong> Azimut\u2019s first Egypt-focused fixed-income fund, A-Z Savings, raised almost EGP 300 mn from investors when it launched at the end of October. The fund\u2019s value had more than doubled to reach EGP 740 mn in March, Azimut said<\/a> yesterday.<\/p>\n

How big is Azimut? <\/strong>Parent company Azimut Group<\/a> is an asset manager with EUR 57 bn in assets under management (AUM), while the Egypt arm says it has total AUM of EGP 7 bn.<\/p>\n

ALSO FROM THE EGX-<\/strong><\/p>\n

The EGX plans to launch its first bond index before the end of June<\/strong>, and a trading platform is ready and waiting to go, local press<\/a> quoted Chairman Mohamed Farid as saying during a conference.<\/p>\n","protected":false},"excerpt":{"rendered":"

Azimut Egypt Asset Management plans to launch two new funds this year, with one going live within a few days and the other coming after Ramadan, Managing Director Ahmed Abou El Saad said at a conference yesterday, according to Hapi Journal. The Italy-based asset manager has obtained all necessary approvals for the funds and completed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[541,3305,72,164,125],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561399","post","type-post","status-publish","format-standard","hentry","category-investment-watch","tag-asset-management","tag-azimut-egypt-asset-management","tag-enterpriseam","tag-equities","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"c8e13ab8-9f38-4391-a454-6cb4da14dd6e","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561391],"teaser":"","voice_url":""},"yoast_head":"\nAzimut Egypt eyes two new funds - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/azimut-egypt-eyes-two-new-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Azimut Egypt eyes two new funds\" \/>\n<meta property=\"og:description\" content=\"Azimut Egypt Asset Management plans to launch two new funds this year, with one going live within a few days and the other coming after Ramadan, Managing Director Ahmed Abou El Saad said at a conference yesterday, according to Hapi Journal. 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Azimut is looking to secure EGP 250 mn in AUM \u201cwithin the coming period,\u201d according to a statement picked up by the newspaper. Egyptian equities are undervalued due\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556082,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/11\/azimut-egypt-wants-usd-1-bn-aum-here-by-2024\/","url_meta":{"origin":561399,"position":1},"title":"Azimut Egypt wants USD 1 bn AUM here by 2024","author":"enterpriseam admin","date":"11 October 2021","format":false,"excerpt":"Azimut Egypt is looking to launch three new funds and hit USD 1 bn in AUM by 2024, Azimut Egypt CEO Ahmed Abou El-Saad told Enterprise. 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Azimut aims to have EGP 250 mn in\u2026","rel":"","context":"In "EGX"","block_context":{"text":"EGX","link":"https:\/\/enterpriseam.com\/egypt\/category\/egx\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/380.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592151,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/29\/azimut-to-launch-its-egypt-oriented-fund-in-february\/","url_meta":{"origin":561399,"position":3},"title":"Azimut to launch its Egypt-oriented fund in February","author":"enterpriseam admin","date":"29 December 2019","format":false,"excerpt":"Azimut to launch USD 10 mn Egypt-focused equity fund in February: Italy-based asset manager Azimut will launch a fund to invest in Egyptian equities in February 2020, Managing Director Ahmed Aboul Saad told the local press. The USD 10 mn fund will be launched in Luxemburg and will focus on\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572652,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/italian-asset-manager-azimut-launches-egypt-focused-equity-fund\/","url_meta":{"origin":561399,"position":4},"title":"Italian asset manager Azimut launches Egypt-focused equity fund","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"Azimut launches its Egypt-focused equity fund: Italy-based asset manager Azimut has launched AZ Equity-Egypt, a fund that will invest in Egyptian equities headquartered in Luxembourg, according to a press release. Managing Director Ahmed Aboul Saad said last year that the fund would launch with USD 10 mn in capital. AZ\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575788,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/27\/azimuts-inaugural-egypt-bond-fund-sees-huge-investor-demand\/","url_meta":{"origin":561399,"position":5},"title":"Azimut\u2019s inaugural Egypt bond fund sees huge investor demand","author":"enterpriseam admin","date":"27 October 2020","format":false,"excerpt":"INVESTMENT WATCH- Azimut\u2019s inaugural Egypt bond fund sees huge investor demand: Azimut\u2019s new Egypt-focused fixed-income fund AZ-Savings was 6x oversubscribed in the nine-day private placement that ended on 21 October, Al Mal reports, citing a company statement. 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