NBK – Egypt Mutual Funds Ranked Top Performing in Egypt by End of 1H2024

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NBK Egypt Financial Investments Company, the manager of NBK – Egypt Mutual Funds succeeded to achieve excellence for three of its managed funds, as they topped the ranking of mutual funds in Egypt by the end of 1H2024. Al-Mizan Fund topped the list of balanced funds, whereas Al-Hayah Fund topped the list of Islamic funds by the end of 1H2024, and Namaa Fund earned the second place in the list of equity funds.

Commenting on this, Mr. Yasser El-Tayeb, NBK – Egypt Vice Chairman, Managing Director and CEO, and Chairman of NBK Egypt Financial Investments Company said: “The top rankings achieved by our ‘Namaa’, ‘Al-Hayah’, and ‘Al-Mizan’ Funds among mutual funds in Egypt demonstrate their superior performance and the unwavering adherence of NBK – Egypt Financial Investments to the highest standards of excellence. The company currently manages four mutual funds in Egypt: Ishraq Liquidity Fund, Al-Mizan Balanced Fund, Namaa Equity Fund, and Al-Hayah Islamic Fund, in addition to managing the portfolios of individuals, companies, and insurance companies in fixed income instruments and equity.”

On his part, Dr. Ahmed Mokhtar, Vice Chairman, Managing Director of NBK Egypt Financial Investments Company said: “The significant increase in funds’ returns is the result of extensive, in-depth study of the Egyptian market, seizing available investment opportunities, and diversification of the equity portfolio across different sectors to maximize returns for investors.”

“Namaa Fund aims to maximize capital gains through diversifying its investments in the stocks listed on the Egyptian Stock Exchange, and Al-Hayah Fund aims to maximize capital gains through diversifying its investments in the Sharia-compliant stocks listed on the Egyptian Stock Exchange, whereas Al-Mizan Fund seeks capital appreciation through investing in equities as well as fixed and variable income debt instruments,” he explained.

“These three funds offer the convenience of weekly subscription and redemption through NBK – Egypt branches spanning key governorates and cities in Egypt, without subscription or redemption fees,” he noted.

“The company also manages a fourth fund, ‘Ishraq’, which is a low-risk fund that provides daily cash flow by calculating a cumulative daily return on the invested funds. The Fund allows daily subscription and redemption in its investment documents, providing a cash management tool by offering high daily cumulative return on investments with no restrictions on daily deposits or withdrawals, and no subscription or redemption fees until 2 PM,” he added.