NI Capital starts receiving requests for subscription for liquidity fund

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Sun, 10 Jan 2021 - 02:15 GMT

BY

Sun, 10 Jan 2021 - 02:15 GMT

Minister of Planning Hala el-Saeed - File Photo

Minister of Planning Hala el-Saeed - File Photo

CAIRO – 10 January 2021: NI Capital Holding Company, the investment arm of the National Investment Bank, has opened the subscription to its first cash fund, "liquidity", Minister of Planning and Economic Development and Chairman of the Board of Directors of the National Investment Bank (NIB), Hala el-Saeed, announced.

 

El-Saeed noted that the nominal value of the document is LE 10,  with a minimum of LE 1,000 for purchase.

 

The minister stated in a statement today, Sunday, that the subscription period is expected to end after two weeks from today, which is the minimum legal period for receiving subscriptions, due to the large number of institutions investing in this type of funds.

 

El-Saeed added that the target volume of the "liquidity" fund is from LE 50 - LE 100 million to be invested in liquid and short-term financial instruments such as bonds, treasury bills, bank deposits, financing instruments, savings certificates and other investment fund documents. Liquidity is the first monetary fund to invest its money in movable values, taking advantage of the recent legislative amendments of investment funds.

 

What is new is that the “liquidity” monetary fund is the first fund established by investment managers, and it has a cumulative daily return commensurate with the low risk associated with the instruments invested in it while maintaining a high degree of liquidity that allows the investor to buy and recover daily.

 

Individual and institutional clients can purchase documents electronically through the "Arabiya Online" company owned by "NI Capital" in addition to the "Mubasher" company, while "NI Capital" will promote the fund on the side of large institutions.

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