In a move poised to reshape the Egyptian savings landscape, Menthum, the country’s leading digital savings platform, has announced the launch of the “Menthum US Dollar Fixed Income Fund.” This groundbreaking initiative, developed in partnership with CI Capital Asset Management, offers individuals and businesses a secure, high-yield, and remarkably flexible option for saving in US dollars.
For many Egyptians, managing finances and growing wealth can be a complex challenge. Traditional savings options often lack attractive returns or come with limitations on access. The Menthum USD Fixed Income Fund tackles these issues head-on by providing a secure and transparent platform for US dollar savings.
The fund invests in low-risk, high-quality fixed-income securities like US Dollar-denominated Treasury bills and Egyptian government Eurobonds. This strategy prioritizes stability while aiming to deliver consistent returns. Furthermore, the fund is fully regulated by the Egyptian Financial Regulatory Authority (FRA), ensuring investor protection and adherence to the highest standards.
Perhaps the most distinctive feature of the Menthum USD Fixed Income Fund is its unparalleled liquidity. Unlike traditional fixed-income products with lock-in periods, this fund allows for daily purchases and redemptions. This flexibility empowers users to manage their savings with ease, adapting to their evolving financial needs.
“At Menthum, we’re dedicated to creating innovative financial solutions that cater to the ever-changing needs of Egyptians,” said Himanshu Shrimali, Co-Founder and CEO of Menthum. “The Menthum USD Fixed Income Fund, powering the Menthum USD Savings Account, represents a significant leap forward. We’re empowering Egyptians with tools to make their money work for them and improve their financial well-being.”
CI Capital Asset Management, a renowned investment firm, brings its expertise to the table as the fund’s investment manager. Dr. Amr Aboul Enein, CEO and Managing Director of CI Capital Asset Management, emphasized the fund’s appeal to a broad range of investors: “This fund caters to those seeking attractive returns, diversification, and easy access, while also offering liquidity for managing foreign currency holdings.”
The Menthum Mobile App, consistently lauded for its user-friendly design, serves as the exclusive platform for accessing the fund. This focus on digital accessibility aligns with Menthum’s vision of expanding financial inclusion and offering transparent, efficient saving and investment solutions.
“Our partnership with CI Capital perfectly aligns with our goal of providing accessible and transparent financial tools,” stated Ismail Sarhank, Co-Founder and COO of Menthum. “This product directly addresses the needs of our clients, offering a reliable US dollar savings option for various purposes, from education expenses to export earnings.”
Tarek Shahin, Chief Investment Officer of CI Capital Asset Management, elaborated on the fund’s investment strategy: “The fund aims to diversify and target optimal duration across the yield curve to achieve the highest possible return while ensuring liquidity to meet customer needs for seamless purchase and redemption.”
The Menthum US Dollar Fixed Income Fund opens for subscription on August 26th, 2024. With its launch, Menthum and CI Capital Asset Management usher in a new era of financial empowerment for Egyptians, offering a secure and flexible way to save and grow their US dollar holdings.