CAIRO: The Egyptian Investment Management Association (EIMA) announced that Prime Investment Asset Management’s El Rabeh Fixed Income Fund have topped the nine fixed-income funds operating in Egypt during 2007, achieveing the highest annual return to its certificate holders of 8.83 percent during the same period.
Based on the CBE indicators, return on deposits averaged 6.75 percent during the same year.
El Rabeh Investment Fund is the third of SAIB’s established funds launched in 1998, and has been managed by Prime Investment Asset Management since then.
El Rabeh is the first fixed-income fund to debut in the Egyptian investment market with the core revolving around investing in bonds, treasury bills and certificates of deposits. Furthermore, the fund distributes to its certificate holders on a quarterly basis.
The fund entry and exit is easy since acquiring and redeeming the fund certificates are on a daily basis and without any fees.
Prime has been among the leading companies in asset management in Egypt since its inception in 1995, and currently provides several fund types to cater to the different needs of investors.
Funds range from growth, balances, fixed income, and capital, guaranteed in addition to Islamic compliant funds.
