Azmiut Egypt to launch gold fund

Azimut Egypt is planning to launch its first investment fund focused on precious metals.

The firm has teamed up with fellow Egyptian company Evolve Investment Holding for the fund, which is set to hit the market in February, subject to final approval from the Financial Regulatory Authority.

According to Azimut Egypt managing director Ahmed Abul-Saad, the fund launch comes from increased investor interest in gold.

Gold has not only been a popular commodity for traditional mutual fund providers, it has also been targeted by the nascent tokenisation market.

In November, the Dubai Multi Commodities Centre announced plans to digitise gold trading.

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