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Thursday, 24 August 2017

Beltone wants to quadruple the value of index fund, list on Nasdaq Dubai

Beltone Financial is looking to quadruple the value of its index fund from EGP 55 mn and list it on the Nasdaq Dubai exchange, Director of Asset Management Kareem Naema told Reuters in an interview. “We’ve been working over the past three months on listing the index fund on the Nasdaq Dubai. It’s going to be a good step for Egypt and it’s going to attract a lot of investments to the Egyptian financial markets,” Naema says. He says Beltone will go on roadshows to promote the fund in the GCC, Europe, and the US in September and October. Naema also reiterated plans announced by CEO Bassem Azab to launch a USD 1 bn fund to invest in fixed-income instruments.

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