Bank Audi’s balanced fund “Ezdehar” successfully receives two awards from MENA Fund Manager Performance Awards

01 Feb 2018
Bank Audi’s “Ezdehar Fund” with cumulative and floating returns in EGP; has been awarded the “Best Balanced Fund” and “Best MENA equity fund under 75 Million Dollar” awards of the year 2017 by MENA Fund Manager Performance Awards during its annual festival held in Dubai, end of January 2018.

MENA Fund Manager Performance Awards is an organization specialized in evaluating equity funds performance in the Middle East and North Africa region.

Mr. Mohamed Abbas Fayed, Bank Audi Egypt CEO and Managing Director, has gladly expressed his pleasure towards the significant accomplishment achieved by “Ezdehar Fund” in the International forums. Mr. Fayed has elaborated pointing out that, “Ezdehar Fund” has successfully achieved a return rate of 34.2% in 2017, keeping its leading position among the Balanced Islamic Funds in 2016 with a return rate that reached 35.4%.

Mr. Mohamed Latif, ‎Chief Institutional & Islamic Banking officer, Bank Audi Egypt, added that “Ezdehar Fund” has achieved the highest cumulative returns among all the Islamic Funds throughout three years with 76.6% total. Mr. Latif also asserted that, such awards are honoring for the outstanding performance of Acumen Asset Management that is responsible for managing Ezdehar Fund.

Ezdehar is a balanced fund, investing in the Sharia-compliant Stocks with a maximum up to 60% of its assets, as well as in the deposits and Sharia-compliant income instruments, whereas the circulation in subscription and redemption takes place on weekly basis within the different branches of Bank Audi Egypt.

Ezdehar Sharia Board consists of elite Scholars in Islamic Sharia and Jurisprudence in Egypt and the Arab World. Investors including Egyptian, Arab and Foreign individuals and legal entities are welcomed and have the right to subscribe in Ezdehar Fund.

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