Sarwa Capital launches the first cash fund for its life insurance arm


100 million pounds, the size of the fund, and daily retrieval of documents. Misr Capital is the fund manager

Tharwa Capital for Financial Investments announced the launch of its first investment fund in the fixed income instrument market through Tharwaa Life Assurance Company under the name of “Tharwaa Capital Life Insurance Fund for liquidity in Egyptian pounds with a cumulative daily return.”

Misr Capital, the investment arm of Banque Misr, will manage the fund, in cooperation with Tharwa Investment Management Company as an assistant investment manager, as part of the existing alliance strategy between the two entities, which will result in many financing and investment tools during the coming period.

Ayman Al-Sawy, head of the financial sector at Tharwa Capital, said that the fund is the start within the framework of a plan between the two entities to offer a number of funds and investment and savings vessels, respectively, as it aims to send a message of reassurance to the market and encourage investment.

The size of the initial fund is 100 million pounds, while the capital is 10 million pounds, which enables the fund to reach 500 million pounds according to the investment funds regulations.

Al-Sawy added that the fund is the first investment vessel launched by the group in the context of the group’s strategic direction towards expanding the provision of attractive and suitable investment vessels for all categories of clients, including individuals and institutions, and keeping pace with the current changes and developments in the growth of demand for various savings pools.

He said that the fund aims to provide a savings and investment base for individuals and institutions to maximize investment returns and reduce investment risks, in addition to providing daily cash liquidity to corporate and individual clients by calculating an accumulative daily return on the funds invested in the fund through a rational investment policy.

Al-Sawy revealed to the “Stock Exchange”, plans to launch specialized funds during the coming period, including the Movable Values ​​Fund worth 2.5 billion pounds. The tax aspects of the fund’s dealings with the supervisory authorities are being finalized.

For his part, Khalil Al-Bawab, CEO of Misr Capital, said, “The fund will allow the daily subscription, purchase and redemption of investment documents issued through both Misr Capital and Misr Capital Bond Brokerage, and the fund’s assets will be invested in short, highly liquid cash financial instruments. And medium term, such as debt instruments issued by the government, companies, sukuk, certificates issued by the Central Bank of Egypt, repurchase agreements and other money market funds documents, with average maturities not exceeding 150 days.

Al-Bawab added that this fund is a continuation of the ongoing partnership with the Tharwah Capital Foundation in the endeavor to offer different products in the Egyptian debt instruments market, and that this fund is our first investment funds for insurance companies, as the largest fund investment manager in Egypt, and the subscription will open on Sunday, January 24th.

The article Sarwa Capital launches the first cash arm of its life insurance arm that was written in the Al-Borsa newspaper.