Planning Minister announces establishment of 1st local cash fund by NI Capital

The fund’s launch is part of the strategy adopted by NI Capital to meet the needs of the market:says Hala El-Said

Dr. Hala El-Said, Minister of Planning and Economic Development and Chairperson of the Board of Directors of the National Investment Bank (NIB) announced that NI Capital has launched a "Seyola" fund, which is its first cash fund in Egyptian pounds with a cumulative daily return with a target issue size between EG50 to EGP 100 million. The subscription shall be open starting Sunday, January 10, 2021.El-Said said that the new cash investment fund comes within the framework of the strategy of NI Capital, the investment arm of the National Investment Bank, to enhance its role in achieving financial inclusion and developing the capital market. NI Capital also aims to meet the market needs and requirements of its individual and institutional clients alike.
El-Said added that the NI Capital cash fund is unique in that it is the first fund established by investment managers, and it is also the first cash fund to invest in transferred values, benefiting from recent legislative amendments to investment funds.

For his part, Mahmoud Montaser, CEO of NIB and Chairman of NI Capital, said: "NI Capital's introduction of its first cash fund is a new step in the path of the leading company in the field of providing non-banking financial services, and an enhancement of its unique role. In providing investment products to meet customer needs and support the Egyptian economy. "

Mohamed Metwally, CEO and Managing Director of NI Capital commented: “The launch of the new cash investment fund comes as a continuation of the success achieved by NI Capital in managing the investment portfolios of many investors, whether from government agencies or private sector companies. He added: "We always strive to expand the various activities offered by the company to serve our corporate and individual clients by providing solutions and products that maximize the return on their investments."
Hazem Kamel, Managing Director of Investment Management at NI Capital, said that the company's investment department is working on introducing new and innovative products in the coming period as part of its strategy to support the state’s plan and work to achieve sustainable development goals. He added, "The NI Capital cash fund seeks to introduce and make available new investment tools to achieve financial inclusion and make them available to different groups of society, whether they are institutions or individuals."
The "Seyola" cash fund aims to achieve a daily cumulative return commensurate with the low risk associated with the instruments invested in it while maintaining a high degree of liquidity that allows the investor to buy and recover daily. 
The fund invests its funds in liquid and short-term financial instruments such as bonds, treasury bills, bank deposits, financing instruments, savings certificates and other investment fund documents.

NI Capital has contracted with the "Arabiya Online" company owned by it, in addition to the Mubasher company, to receive subscriptions and promote the fund among customers from the segment of individuals and institutions with the ability to receive the subscription electronically, while NI Capital will promote the side of large institutions.

NI Capital established the National Investment Charity Education Fund last year to provide sustainable financing for educational projects while managing charitable work, the size of the fund has so far reached EGP 150 million.

NI Capital was established in 2015 as an independent financial services company. 

NI Capital acts as an independent catalyst for promoting public-private cooperation and attractin…