CI Capital, a leading Egyptian diversified financial services group, topped the Egyptian Investment Management Association (EIMA) Funds’ Performance Report for 1H2018 in all asset classes over the different time horizons. This achievement is a culmination of CI Capital’s consistent efforts and track record of superior performance, along with its ability to deliver added value to its clients and partners. CI Capital Asset Management is distinguished by its ability to manage diverse funds, introduce new vehicles, and consistently maintain the highest returns on all asset classes in the Egyptian market.
Amr Abol-Enein, the Managing Director and CI Capital’s Head of Asset Management, said the outstanding performance in all asset classes is CI Capital Asset Management team’s consistent efforts throughout the years. It is also a testament to CI Capital Asset Management’s track record of consistent superior performance and ranking of the funds under its management. CI Capital Asset Management has demonstrated its ability to introduce the largest, diversified, and innovative product base in the Egyptian market. This includes fixed income funds, money market funds, conventional and Sharia-compliant equity funds, balanced funds and open-ended capital protected funds. This is in addition to the company’s tailored discretionary portfolios, managed by a team of experts and specialists in the asset management field.
As per EIMA’s Funds’ Performance Report for 1H2018, all asset classes under management in Egypt came on top of their peers, over different time horizons as follows:
Commercial International Bank (CIB’s) “Istethmar” equity fund, one of CIB’s sponsored funds investing in stocks listed on the Egyptian Stock Exchange, is ranked as best-performing equity fund. The fund recorded returns of 22.1% for 1H2018 compared to an average return of 10.2% for its peers, Istethmar also outperforming all peer equity funds in the Egyptian market, in addition to outperforming EGX 30 Index. Additionally, the fund held the top ranking among local peers for the last 12 months as well as the two, three and five-year periods. Cumulative returns during those period recorded 50.7%, 206.5%, 155.6%, and 338.4%, respectively vs. peer averages of 28.2%, 124.8%, 89.7% and 185.3%, respectively.
As for the Sharia-compliant equity fund category, CI Capital topped the list with the co-sponsored CIB-Faisal “Aman” Fund. The fund ranked first for 1H2018 with returns of 17.5%, compared to a peer average of 9.1%. It also continued outperforming EGX 30 Index. Aman came first among local peers for the last 12 months, as well as the two, three, and five-year periods with cumulative returns of 41.2%, 167.6%, 126.5% and 234.7%, respectively. This is compared to a Sharia-compliant peer averages of 25.6%, 105.8%, 75.7%, and 148.8%, respectively.
CI Capital is also ranked first in the balanced funds category with CIB’s “Takamol” fund. Balanced funds are copped with an equity exposure of 60% of the net asset value. Takamol’s returns stood 16% in 1H18 compared to an average return of 7.4% for peer funds. Takamol comes tops the ranking among local peers for the last 12 months as well as the two and three-year periods (i.e. since inception), with cumulative returns of 35.4%, 116.4%, and 97.9%, respectively versus average returns of peer funds of 19.5%, 78%, and 63.4%, respectively.
Also, the capital protection “Hemaya” fund, which is owned by the CIB, was ranked as the best-performing fund for 1H2018, with an investment return of 10%, compared to a peer average return of 6.4%. Hemaya also occupied the top ranking for a 12-month period, which is the maximum time horizon of competing funds, with a return of 19.8%, compared to an average return of the peer funds of 15.2%.
CI Capital Asset Management also topped the fixed income fund category, with CIB fixed income fund, “Thabat” ranking first, the fund recorded with a semi-annual return of 11.6%, compared to an average return of the peer funds of 6.9%. Thabat also came first for 12 months, 2 years, 3 years and 5 years with gross cumulative returns of 22.9%, 29.9%, 40.4%, and 80.4% respectively, compared with average returns of 12.3%, 23.1%, 34.6% and 65.2% respectively, according to the same report.
CI Capital Asset Management also maintained its top position in the Egyptian money market funds throughout the years. Blom Money Market Fund, which was managed by the company until July 2017, was ranked first among all money market funds for four years (2011-2014). CIB’s Osoul fund was ranked first in 2015, while Arope’s money market fund – which was managed by CI Capital Asset Management till January 2018- topped the rank in 2017. Osoul fund has also shared the top ranking of Money Market fund in 1H2018 recording an investment return of 7.55% in the first six months of 2018, versus an average semi-annual return of 7.1% for peers.
As for the Sharia-compliant Money Market fund category, CI Capital topped the list with United Bank of Egypt’s sharia-compliant money market fund, Rakhaa, the fund ranked first, with a semi-annual return of 7.40%. This compared to an average semi-annual return of 6.8% to peer funds. It was also the best-performing fund for 12 months’ period, two-year and three-year periods – the maximum time horizon for competing funds-, with cumulative returns of 15.5%, 29.4% and 40.4%, compared to average returns of 15.1%, 28.7% and 38.7% respectively.
CI Capital’s award-winning asset management services portfolio reflects the company’s leading position of the company amongst its peers in all fund categories. The team won the title of “Best Investment Manager” from several international organisations such as Global Investor from 2013-2017, EMEA Finance African Banking Award for 2016, Global Business Outlook in 2016 and ACQ 5 for 2017 and 2018. In addition to many other fund-specific awards in Egypt and the Middle East from a number of international institutions.
Abol-Enein added “we are very proud of this superior achievement in the history of investment funds in the Egyptian market and we strive to maintain our top unmatched performance, increase our market share, increase our assets under management, as well as continue to introduce innovative products.”