Cairo – Mubasher: Misr Capital, the investment arm of Banque Misr, has opened the door to receive purchase and redemption orders for its Kol Shahr Fund on 13 September. 

The new fund for investment in debt instruments has been oversubscribed with a value of EGP 243 million, 2.4 times the initial subscription value of EGP 100 million, according to a statement on Monday. 

The fund has attracted strong investor demand although the subscription was opened exclusively for customers of Banque Misr and Misr Capital, Vice Chairperson of Banque Misr and Chairperson of Misr Capital, Akef El-Maghraby, said. 

Misr Capital aims to increase the value of the fund to EGP 2.5 billion after meeting all conditions set out by regulatory bodies, the CEO and Managing Director of Misr Capital, Khalil El-Bawab, noted.  

Launching the fund has strengthened Misr Capital's position as Egypt's largest investment fund manager with an asset base of over EGP 31 billion.