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Arab African Investment Management Company has announced the commencement of subscription in Al-Fanar Fund starting from November 15. It's worth mentioning that Al-Fanar Fund belongs to the category of money market funds, which target short-term fixed income investments.
Al-Fanar Fund was established through a consortium consisting of three investment institutions: Suez Canal Insurance Fund, Mega Holding Company for Financial Investments, and Holding Company for Egypt air Insurance Fund.
Mr. Mohamed Moustafa, the Managing Director of Arab African Investment Management Company, commented that we are very pleased to be chosen as the investment manager for this new fund, which was established by diverse financial institutions. This reflects their trust in our company's professionalism and the outstanding performance achieved by the investment funds we have been managing for years.
Mohamed Moustafa added that the timing of the fund's launch is opportune due to the high returns of short-term fixed income instruments. This coincides with the investors' desire, whether individuals or institutions, to choose short-term investment instruments, especially money market funds, at this time.
It's worth mentioning that money market funds are the optimal means of managing cash flows for companies, private insurance funds, individuals, and all financial entities, due to their higher returns compared to other short-term savings instruments.
Subscription will be received through several entities, including Egyptian Investment Services Company, Arab African International Securities, Mubasher international Company, 3Way Financial Trading Company, and Mega Investment Trading Company.
Mohamed Moustafa also stated that this is the second fund that the company is launching this year, in addition to three diversified investment funds launched in 2022. Furthermore, the company is currently in advanced negotiations with several other financial institutions to manage new investment funds in 2024. It's worth noting that the company currently manages 10 diversified investment funds, including Equity, Money Market, debt instruments, fixed income, and capital protection funds, some of which are traditional funds and others are compliant with Islamic Sharia principles.
He also added that Arab African Investment Management Company has received several prestigious awards in 2023, including the Best Fixed Income Fund Manager for 2023 from World Star Business Magazine, the Best Pension Funds Manager for 2023 from World Star Business Magazine. The company also won the Best Investment Manager in Egypt for 2023 from World Business Outlook and the Best Fund Launched in 2023 for Iskan Insurance Fund for Money Market from World Business Outlook.
He stated that these four awards reflect the professionalism of the dedicated team that strives to achieve continuous growth in the company's business volume and to achieve the best investment performance for the financial portfolios and investment funds managed by the company. These achievements, received from international economic institutions, are a testament to the diligent effort made over the past years to make the company the best choice for financial institutions and clients.