{"id":613413,"date":"2024-01-15T00:00:00","date_gmt":"2024-01-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/15\/beltone-to-manage-new-gold-investment-fund-beltone-evolve-gold\/"},"modified":"2024-01-15T00:00:00","modified_gmt":"2024-01-15T00:00:00","slug":"beltone-to-manage-new-gold-investment-fund-beltone-evolve-gold","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/15\/beltone-to-manage-new-gold-investment-fund-beltone-evolve-gold\/","title":{"rendered":"Beltone to manage new gold investment fund Beltone Evolve Gold"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>As good as gold: <\/strong>Beltone Asset Management has been awarded the management of a newly launched gold investment fund that aims to raise EGP 10 mn by offering 100k certificates at a nominal value of EGP 100 apiece, Beltone said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/798.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The fund \u2014 dubbed Beltone Evolve Gold (Sabayek) \u2014 will invest in physical, 24-karat gold bullions and has received initial seed capital of EGP 5 mn from its founders Beltone Securities Holding and <a target=\"_blank\" href=\"https:\/\/www.evolveholding.co\/\" style=\"\" rel=\"noopener\">Evolve Holding<\/a>. The minimum subscription in the fund is 10 certificates worth EGP 1000, Beltone said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/beltoneholding_sabayekgoldfund-beltoneevolvegoldfund-activity-7152285070353952768-Fcr8\" style=\"\" rel=\"noopener\">Linkedin post<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis collaboration represents a significant milestone in the<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">financial landscape of Egypt, providing investors with a unique opportunity to access<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">the stability and long-term value of gold as an investment asset,\u201d Beltone\u2019s CEO for local and regional markets Khalil El Bawab said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gold rush: <\/strong>The price of 24-karat gold rose to fresh highs in the past few weeks and has stabilized at around EGP 3,720 per gram as of yesterday. Gold prices are up over 75% y-o-y as more Egyptians flock to the precious metal, which has been acting as a haven asset for people looking to protect savings from a volatile EGP and the prospect of an upcoming devaluation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0f44c41-ff88-4e13-bc3f-aa66ea6f7f9a\" style=\"\" rel=\"noopener\">first gold fund<\/a> was launched in May last year by Azmiut and Evolve Holding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fund aims to raise EGP 10 mn by offering 100k certificates at a nominal value of EGP 100 apiece<\/p>\n","protected":false},"author":1,"featured_media":613414,"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":[7303],"tags":[812,102,72,544,7093],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-613413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-beltone-financial","tag-capital-markets","tag-enterpriseam","tag-evolve-investment-holding","tag-gold","wpautop","entry"],"acf":{"mongo_id":"bc6a409f-edea-4ac4-ae40-a12a4d621c23","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1725.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Beltone to manage new gold investment fund Beltone Evolve Gold","related_issue":[613408],"teaser":"The fund aims to raise EGP 10 mn by offering 100k certificates at a nominal value of EGP 100 apiece","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.35c04013-7d5f-47cf-af31-30af927fae7a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The fund will spend the next year lining up commitments from investors and has already logged interest from both local and international institutions, Karam said. Beltone\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":593487,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/fra-approves-beltone-financial-capital-increase-to-pay-off-oih-debt\/","url_meta":{"origin":613413,"position":1},"title":"FRA approves Beltone Financial capital increase to pay off OIH debt","author":"enterpriseam admin","date":"28 November 2019","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has approved Beltone Financial\u2019s planned capital increase to EGP 898 mn from EGP 338 mn through a rights issue of 280 mn shares at EGP 2 apiece, according to a FRA disclosure to the EGX (pdf). The capital increase will allow Beltone to pay off\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564906,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/foundation-ventures-aims-to-invest-egp-30-mn-this-year-from-inaugural-fund\/","url_meta":{"origin":613413,"position":2},"title":"Foundation Ventures aims to invest EGP 30 mn this year from inaugural fund","author":"enterpriseam admin","date":"7 March 2021","format":false,"excerpt":"VC firm Foundation Ventures is planning to invest around EGP 30 mn this year from its inaugural Egypt-focused fund, managing partner Omar Barakat told us. \u201cWe\u2019re always interested in fintech, given that it\u2019s growing across Egypt\u201d and is getting a boost from the state\u2019s drive to promote digitization and financial\u2026","rel":"","context":"In &quot;SPEED ROUND: INVESTMENT WATCH&quot;","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-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":618717,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/","url_meta":{"origin":613413,"position":3},"title":"Post for Investment sees revenue and income jump over 30% y-o-y in 2023. PLUS: National Bank of Egypt subsidiary to set up country\u2019s third gold fund","author":"enterpriseam admin","date":"18 April 2024","format":false,"excerpt":"Post for Investment saw its net income climb 32.4% y-o-y to EGP 664 mn in 2023","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1055.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618976,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/evolve-to-launch-the-countrys-third-gold-investment-fund-in-may\/","url_meta":{"origin":613413,"position":4},"title":"Evolve to launch the country\u2019s third gold investment fund in May","author":"enterpriseam admin","date":"23 April 2024","format":false,"excerpt":"The fund will be launched in partnership with asset manager Al Ahly Pharos","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1589.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547200,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/bidding-war-over-beltone-afoot\/","url_meta":{"origin":613413,"position":5},"title":"Bidding war over Beltone afoot?","author":"enterpriseam admin","date":"13 June 2022","format":false,"excerpt":"UAE\u2019s Chimera puts in an offer for Beltone: Our friends at Abu-Dhabi based investment firm Chimera Investments have submitted a non-binding offer to acquire a controlling stake in Beltone Financial, according to a statement (pdf) by the Financial Regulatory Authority (FRA) and disclosures by Chimera (pdf) and Beltone (pdf).The breakdown:\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=613413"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613413\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/613408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/613414"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=613413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=613413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=613413"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=613413"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=613413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}