Egypt's Mubasher Capital plans new silver investment fund

Mubasher Capital, an Egyptian asset management company, is preparing to launch what it hopes will be the country’s first silver investment fund, according to Vice Chairman Ehab Rashad.

The company has not set a target launch date but has submitted the required documents to the Financial Regulatory Authority (FRA) earlier this week, Rashad revealed the details to Zawya Arabic on the sidelines of a conference in Cairo on Tuesday.

Founded in 2018, Mubasher Capital Egypt operates in securities trading and manages investment funds and portfolios. It is part of Bahrain-based Mubasher Group, established in 2007.

“We hope to be the first silver fund in Egypt. The target size for the fund is 2 billion Egyptian pounds ($42.6 million),” Rashad said.

Demand for commodity-focused funds has risen in Egypt as metal prices climb and interest rates ease. Several gold investment funds are already active in the market, and firms are increasingly exploring silver-based products.

Mubasher Capital currently manages three investment funds: an equity fund, a fixed-income fund, and a gold fund. The company is also working on additional products, including a dollar-denominated fund and another tracking the EGX35-LV, Egypt’s low-volatility equity index.