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English news

12-Dec-2019

Investors’ appetite will determine the assets the SWF chooses to acquire for its investment portfolio

Investors’ appetite will determine the Egyptian assets that the Sovereign Wealth Fund (SWF), Tharaa, will choose to acquire for its investment portfolio, the Fund’s CEO Ayman Soliman told Reuters. The Fund is planning to take some of its “cherry-picked” assets to the EGX, which it hopes will give the exchange a boost. “Our three-to-four year plan is to create multiple asset classes that are offloaded to the market. We will enrich the [stock] exchange. We can tag along with a stake, but we will have to list those entities,” Soliman said. According to the CEO, the Fund is looking to secure a 6-7% yield on the investments it will offer through its portfolio. Tharaa, which currently has a paid-in capital of EGP1bn, is also eyeing potential real estate assets, including government-owned buildings in downtown Cairo that will be vacated with the move to the new administrative capital, as well as other options in mining, petrochemicals and SME finance. 

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