Italian fund Manager, Azimut expands into Egypt, allocates US$50m to boost stocks in EGX

Italian fund Manager, Azimut expands into Egypt, allocates US$50m to boost stocks in EGX

EGYPT – Azimut Holding SpA, a US$61billion fund manager based in Luxembourg Italy, has expanded its operation into Egypt with the launch the first equity fund manager specialized in Egypt’s securities. According to a Bloomberg report, Azimut will at the onset of its operations in Egypt allocate $50 million to about 25 stocks traded on the Egyptian Exchange (EGX). The Italian based fund manager first set it eyes on Egypt in 2019 when it acquired a local investment firm. The firm has since boosted its workforce and assigned 10 of…

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