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EFG Hermes asset management wins three industry awards

EFG - Hermes, the leading asset manager in the Arab world, has recently won three industry awards recognizing its performance in 2010.
EFG - Hermes | 24.07.2011

EFG Hermes Asset Management, the leading asset manager in the Arab world, has recently won three industry awards recognizing its performance in 2010, taking home MENA Fund Manager magazine’s awards for Money Market Fund of the Year (Credit Agricole III), Balanced Fund of the Year (Al Massy Fund), and Egypt Asset Manager of the Year.

The Firm has played a major role in developing the Egyptian market since it launched one of the country’s first equity funds in 1994. In the time since, Egypt’s mutual funds market has evolved remarkably in terms of size and structure; as of year-end 2010, the market included 71 funds with total investments of EGP 57 billion. There are now 12 different types of funds in the market.

“The wide range of mutual funds currently available in the Egyptian market provides investment opportunities for various types of investors with different risk appetites,” says Karim Nehma, Managing Director of EFG Hermes Asset Management. “With over 70 local mutual funds operating in the market and 12 different types of funds, investors are sure to find an investment vehicle to suit their risk/reward objectives no matter the degree of risk they are willing to tolerate.”

EFG Hermes currently manages 31 funds operating in Egypt and the Arab world while providing portfolio management services to regional institutions and individual investors alike. In Egypt, the firm manages 15 funds including equity, balanced, Islamic, capital guaranteed, money market and fixed income funds.

In 2010, Money Market Funds managed by EFG Hermes continued to top the market, with average return of 7.92 %, compared with competitors’ average of 7.48 %.