Azimut enters Egypt through local manager's acquisition

clock • 2 min read

Italian asset manager Azimut is fully acquiring the Egyptian manager Rasmala Egypt AM in a move designed to enter the asset management industry in the Northern African country. Following the transaction, Rasmala Egypt will be renamed Azimut Egypt Asset Management. Rasmala Egypt, founded in 1997, focuses on conventional and Shariah compliant portfolio management in Egypt with AuM of EGP8.46bn ($474m) as of November 2018, with a strong expertise in equity strategies (85% of total AuM). The company has a high quality team of portfolio managers and analysts, headed by Ahmed Abou El Saa...

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