CI Capital, the Egyptian diversified financial services group, topped Egypt’s Funds’ Performance Report’s rankings in 2018, and throughout multiple time periods, the company announced on Saturday.
For the Conventional Equity Fund category, ‘Estithmar Fund’—one of the Commercial International Bank’s (CIB) sponsored funds investing in stocks listed on the Egyptian Stock Exchange (EGX)—is ranked as the first equity fund in terms of its positive 2018 returns of 4.72%, compared to EGX30’s negative returns of -13.21% in 2018, in addition to outperforming the average negative returns of all peer equity funds in the Egyptian market of -8.16%.
Consequently, ‘Estithmar’ was awarded the ‘Best Equity Fund in Egypt 2018’ by the International Finance.
For the Sharia Complaint Equity Fund category, CI Capital Asset Management topped the 2018 rankings through the ‘Helal Fund’, which is sponsored by the Arab Investment Bank, with positive cumulative returns of 3.80%, compared to the negative average returns of all peer sharia complaint equity funds in the Egyptian market of -8.65%.
Moreover, CI Capital Asset Management is also ranked first in the Balanced Funds category (for funds with a maximum equity exposure limit of 60% of their net asset value), with CIB’s ‘Takamol Fund’s’ 2018 returns of 6.85%, compared to a negative average return of -0.69% for peer funds with the same specifications.
As for the Conventional Money Market Fund category, CI Capital Asset Management also maintained its top position in the Egyptian conventional money market funds’ space, as the CIB’s ‘Osoul Fund’ was ranked first among all the conventional money market funds for its 2018 cumulative returns of 15.52%, compared to the average returns of all similar money market funds in the Egyptian market of 14.71%.
Regarding the Sharia’s Compliant Money Market Fund category, CI Capital Asset Management topped the list with the United Bank of Egypt’s sharia’s compliant money market fund titled ‘Rakhaa’. The fund topped this category by achieving returns of 15.08% in 2018, compared to an average return of 14.01% to similar funds. Additionally, the fund held the top ranking for two years as well as the three-year periods cumulative returns (the maximum time horizon for peer funds). The ‘Rakhaa Fund’ was short listed for the ‘Best Sharia Complaint Fixed Income Fund in the MENA Region in 2018’ by the MENA Fund Manager.
CI Capital Asset Management is also ranked first in the Fixed Income Funds category, with the CIB’s ‘Thabat Fund’’s 2018 returns of 20.80%, compared to an average return of 14.31% for peer funds. In addition, the ‘Thabat Fund’ topped the ranking among local peers for the last two, three, five, and six-year periods, with cumulative returns of 41.69%, 44.20%, 75.77%, and 98.15%, respectively.
In recognition of CI Capital Asset Management’s success in the Egyptian and regional markets, the group was awarded the ‘Best Asset Manager in Egypt in 2018’ by the International Finance, and the ‘Best Asset Manager in Egypt in 2018’ by ACQ5.
Amr Abol Enein, the managing director and head of CI Capital Asset Management, stated, “These awards and international recognitions come as a result of the efforts exerted by CI Capital Asset Management’s team of professionals, and the company’s ability to manage all types of portfolios and mutual funds. In addition it introduced newly developed and diversified financial instruments in the Egyptian market with continuity and consistency of achieving the highest returns on all categories of products. Therefore, it outperformed the market indices and peer funds’ performances, in terms of returns and rankings, along with achieving continued real value added over the years to its customers and its business partners.”