Asset Management

NI Capital Announces Oversubscription of Initial Public Offering for “Sahmy” Equity Fund

NI Capital Holding for Financial Investment, the investment arm of the National Investment Bank, announced the closure of the subscription for the “Sahmy” fund, an Egyptian equity fund with a cumulative periodic return from NI Capital, with a subscription volume exceeding EGP 80 million, equivalent to more than three times the target value.

It is worth noting that the subscription window was opened on Sunday, October 30, 2022, with a target issuance size of EGP 25 million, and NI Capital received requests that led to the oversubscription of the issuance by more than three times the target size of the fund. Starting today, the window for receiving purchase and redemption requests will be opened daily in the documents of the “Sahmy” fund, through the “Arab Online” company for individuals and institutions, in addition to NI Capital company for major institutions.

In this context, Mohamed Metwally, the CEO and Managing Director of NI Capital, expressed his pride in the tremendous success that NI Capital achieved in oversubscribing the first issuance of the “Sahmy” fund by more than three times the target issuance, which reflects the company’s good reputation, the experience and competence of the company’s employees in issuing and promoting investment funds of various types, and the support and trust of the company’s success partners from investors in NI Capital. Metwally expressed his hope that the “Sahmy” fund, with its ability to purchase and redeem documents daily, would be the best option for individuals who want to invest in the stock market and do not have the time or sufficient resources to study the different stocks and follow the developments of the economy and the stock market daily.

For his part, Mohamed El-Nabarawy, Head of Asset Management, commented on the issuance of the new fund, saying: “The “Sahmy” fund represents a new step for the asset management at NI Capital, which is in line with its strategy towards diversifying its investment products from investment funds to suit all investor segments. NI Capital currently manages 5 funds: the National Investment Fund for Education “Education for Life”, the Cash Liquidity Fund, the “15/30” fund for fixed income, GIG “Makaseb” cash fund compliant with Islamic law, and finally “Sahmy” fund, as stocks currently represent attractive opportunities due to the decline in the market’s earnings multiple to around 5 times and its attractiveness increases in periods that witness high inflation rates.”

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