Back to the complete issue
Wednesday, 18 July 2018

Egypt is on the map for Investec

Egypt is on the map for Investec Asset Management now that the firm “ is ready to get back into the market after reducing risks at the start of the year,” according to Bloomberg. The firm, which manages some USD 36 bn in EM fixed-income assets, sees that Egypt’s assets are attractive thanks to its ongoing economic rebound, said Investec’s Co-head of EM Fixed Income Werner Gey van Pittius.

Gey van Pittius appears to be quite optimistic about the prospects of emerging markets assets overall, which “have shown signs of stabilization this month amid easing of trade tensions between the US and China after equities and currencies suffered their worst quarters since 2015.” Local-currency bonds in EMs also contain more value in comparison to their USD counterparts, he said, adding that they offer a real-yield premium of more than 4 percentage points over developed-market government bonds, and also that the USD’s strength will likely be “short-lived.”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.