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Article: Pharos launches first equity fund.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- June 25, 2009
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Byline: Cairo
Pharos Asset Management, the youngest of Pharos Holding for Financial Investments' subsidiaries, has launched its first Egypt-centric, equity fund; Pharos Fund I.
This comes following recent changes in Capital Market Authority (CMA) regulations which have allowed financial services firms to create independent fund management companies; a privilege previously granted only to banks and insurance companies.
The fund is unique in mandate and structure in that it will invest 80 per cent of its assets in the local market and will have the capability to invest up to 20 per cent in other markets in the Mena region that Pharos Holding ...