Egypt’s 1st Gold Fund Ends Initial Subscription

Updated 6/16/2023 11:00:00 AM
Egypt’s 1st Gold Fund Ends Initial Subscription

Evolve Azimut, the manager of Egypt’s first gold investment fund, az–Gold has launched it on May 23rd, according to Azimut Egypt.

The new fund will invest in 24-carat gold bars and issue investment certificates

The fund, az–Gold, has raised nearly EGP 152.8 million from the first subscription tranche by luring over 7,000 investors, the majority of which are Egyptians.

The first tranche was more than 15 times oversubscribed.

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