Egyptian Sovereign Fund for Arabia: We have £ 5 billion of cash … and soon a tech fund

Chief Executive Officer of the Egyptian Sovereign Fund, Ayman Soliman, said the fund currently has £ 5 billion in cash, as well as goods in nature between the 8 and 9 billion pounds that it currently is in evaluation phase.

He added, in statements to Al-Arabiya that these assets add to some of the rights enjoyed by the fund relating to the right to use and manage certain assets, bringing its current portfolio to £ 20 billion.

He said the company will have invested all of its cash by the start of the second quarter of next year, explaining that portfolio growth translates in capital increases, in nature or in cash, which will bring the fund’s portfolio to £ 30 billion by the end of next year or early 2023.

He explained that liquidity currently represents one third of the fund’s assets, about 20% in the financial and banking sector, and the rest of the assets in the real estate and tourism sector.

He added that the fund’s strategy is a sector strategy and has 4 specialized sub-funds and “there is one studio in course of new sectors “.

He stated that the fund’s investment method is participation, “We take the entry of direct investment companies … There is a new fund we are currently launching on how to target technology and delve into technology to serve the manufacturing sector. and all sectors in which we invest “.

The fund targets high growth sectors, sustainable development and sectors that serve the future Egyptian economy. And we develop the investment strategy based on the strategy of future sectors, ”according to Suleiman.

He explained that the fund’s investment strategy overseas is geared towards multilateral investment, noting that the fund could participate with a local investor looking to expand overseas.

He said the fund’s targeted projects include digital banking and financial technology for financial inclusion purposes, which is an integral part of the fund’s targeted investments.

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