Press release

Egypt, Tuesday, 26 July 2022: Arab African Investment Holding (AAIH), the investment arm of Arab African International Bank (AAIB), launched its first “Diamond Money Market Fund (Cumulative Return)”, with a value of EGP550 million, raised through a private placement to institutions and individuals.

AAIH’s First Fund

Mr. Hussein El-Sherbiny, Vice Chairman & Managing Director of AAIH, said: “Subscription to the fund was recently closed after raising EGP550 million, having been covered about 11 times its target amount through the private placement to institutions and individuals. "

Mr. El-Sherbiny pointed out that the timing of the fund offering was very critical in light of the high interest rates on investment certificates, which pulled out large liquidity from individuals’ deposits and other funds. However, the expected return of this fund, in light of the high interest rates on Treasury bills, encouraged many institutions and some individuals to participate in the private placement.

Mr. Mohamed Mostafa, Managing Director of AAIM, which manages the fund, said: "The fund's assets will be invested in short- and medium-term liquid financial instruments, such as Treasury bills and bonds and other fixed-income instruments, with a maximum average maturity of 150 days so that investors have access to a product with a competitive cumulative daily return.”

Mr. Mostafa pointed out that subscription was closed quickly after the good coverage witnessed by the fund.

About ARAB AFRICAN INVESTMENT MANAGEMENT (AAIM)

Since its launch in 2006, Arab African Investment Management (AAIM) has been catering to both private and public institutions as well as high-net-worth individuals, building investment products that provide exposure to equity, fixed-income, and money markets. AAIM is one of the fastest-growing investment management firms in Egypt. Our AUMs grew to EGP12.5 billion by end of 2021, with AUMs and the number of clients growing by a 5-year CAGR of c.40% each. In 2022 alone, our AUMs grew by more than 45% to EGP20 billion.

AAIM is a subsidiary of Arab Africa Investment Holding which is fully owned by Arab African International Bank (AAIB).

For more details, please visit the company’s website: aaim.com.eg