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Tuesday, 8 June 2021

Misr Life Ins. money market fund almost 5x oversubscribed

A money market fund recently launched by Misr Life Ins. was almost 5x oversubscribed at close this week, attracting more EGP 470 mn in inflows, Misr Capital said in a statement (pdf). The Misr Life Ins. Investment Fund had a target closing of EGP 100 mn. Managed by Misr Capital, the fund will invest in high-liquidity assets such as treasury bills and short-term corporate debt. Misr Capital is also managing a similar type of fund launched by Sarwa Life Ins. earlier this year.

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