While interest rates were stable over the first 10 months of 2016 at 12.5%—and significantly increased after the Egyptian pound’s flotation to levels ranging between15%-20% in the last two months of 2016—the highest return achieved by money market funds during 2016 stood at 10.45%. Fixed income funds stood at 10%.
In the stock exchange, although its main index EGX30 rose to 76% by 2016 and EGX20 index, which measures the performance of equity funds, rose by 74.4%, fund management companies failed to register a higher return except for Rasmala Egypt, which registered a return of 74.7%, obtained by Bank ABC’s fund.
Al Thiqa fund, the best performance among balanced funds during 2016 with a yield of 46.98%
The EGX’s significant rise contributed to enhancing the performance of balanced funds, which outperformed money market funds and fixed income funds. Balanced funds include 10 funds, and Credit Agricole-Al Thiqa fund topped them by recording a yield of about 47%, while the yield of the poorest performing funds recorded 17.5%, which surpassed the yield achieved by money market funds during 2016.
Credit goes to HC Company for granting Al Thiqa fund the title of best balanced fund performance during 2016 at a yield of 46.98%. Misr Capital Company took the second spot through its Banque Misr Fund 1, which recorded a tight yield of 46.05%.
International Commercial Bank (CIB) Takamol Fund—managed by CI Assets Management—occupied the third position by recording a yield of 45.07%, followed by El-Kheir fund managed by Acumen Holding by 42.97% yield. The fifth position went to the National Bank of Kuwait’s (NBK) Al Mizan Fund at 40.11% yield over the management of NBK Capital.
Rasmala puts ABC on top of equity funds at a yield of 74.7%, and CIAM is the closest competitor
Bank ABC topped the equity funds list through Rasmala Egypt Company which recorded 74.74%, the highest return during 2016, which is also considered the highest across all funds in 2016.
CI Assets Management (CIAM) occupied the second position for CIB-Istithmar fund, recording a yield of 71.74%, followed by Banque Misr’s fund with a yield of 64.68%, managed by Misr Capital for investments.
The National Bank of Egypt (NBE) occupied the fourth position with a 63.26% yield through the management of HC company. Arab African International Bank (AAIB)-Shield fund occupied the fifth position with a yield of 61.05%, managed by the investment arm of the bank—the Arab African Company.
Misr Capital company supports Banque Misr again in the top 10 list through its second fund, which occupied the sixth position with a yield of 60.80%.
Banque Misr II fund also occupied the sixth position with an annual yield 60.80%, followed by the NBK Namaa fund with an annual yield of 60.56% via NBK Capital, then HDB fund with an annual yield of 60.55%, managed by Prime Investments Company.
Hermes was unlucky in equity funds management, as it is accustomed to be at the forefront of EGX transactions. The Egyptian Gulf Bank (EGBank) Fund, which is managed by Hermes, ranked ninth with an annual yield of 60.37%, while Bloom Bank came at the bottom of the list with an annual yield of 58.76% via Prime company management.
Money market funds registered the best yield of 10.45% through NBE’s fourth fund and Bloom Bank
Hermes managed three money market funds
NBE’s fourth fund investment performance topped the money market funds list with the highest annual return of 10.45% through the National Fund Management Company (Al-Ahly), followed by Bloom fund managed by CIAM with a return of 10.42%.
Beltone Financial-Egypt occupied the third position for the management of Banque Misr Money Market II Fund, recording a return of 10.16%, followed by the National Bank of Abu Dhabi’s (NBAD) Money Market Fund with a return of 10.15% through HC company. Ahli United Bank’s Tharwa fund occupied the fifth position with a return of 10.14%, managed by Cairo Funds Management Company.
Through Hermes Management, Bank Audi Money Market Fund occupied the sixth position with an increase of 10.9%, followed by the Arab Bank-Yomaty fund with an increase of 10.09%, which is managed by Belton, who also managed Banque Misr fund which occupied the eighth position with an increase of 10.05%.
Hermes appeared again in ninth and tenth place with the same ratio increase of Qatar National Bank’s (QNB) Themar and HSBC funds.
NBE’s eighth fund is luckiest in 2016 with yield of 9.64%
NBE’s eighth fund topped the list of fixed-income funds with its certificate’s increased value which amounted to 9.64%, and is managed by the National Fund Management Company (Al-Ahly).
Alpha Capital managed to secure the second position of the Egyptian Arab Land Bank by 8.82%. Prime Company, EDBE – Export Development Bank’s fund occupied the third position with an annual increased ratio of 6.41%.
AAIB’s fund Gozoor occupied the fourth position with an increase ratio of 5.56%, managed by the Arab African company, followed by Banque du Caire Fixed Income Fund with an annual return ratio of 2.78% through CIAM.
CIB-Aman snatches Islamic funds hikes with a return of 63.25% through CIAM
Faisal Islamic Fund (FIB) fund-CIB-Aman topped the Islamic funds hikes list throughout 2016, with an annual return of 63.25%. The fund is managed by CIAM.
Sanabel Fund occupied the second position with an increase ratio reaching 59.82% through HC company.
Al Baraka Bank-Egypt Fund occupied the third position, which registered a return increase ratio of 58.55% through the management of Hermes.
NBK Capital granted Al-Hayah fund the fourth position with an annual return of 52.61%, followed by FIB fund in the fifth position registering an increase ratio of 47.24%, managed by Hermes. Egypt’s Public Bank for Development and Agricultural Credit (PBDAC)-Banque du Caire AlWefaq fund occupied the sixth position by an increase ratio of 47.03%, which managed by HC company that manages Banque du Caire third fund which occupied the seventh position by an increase ratio of 44.67%
Cairo Financial Holding managed Arab Investment Bank’s Helal fund that occupied the eighth position with an increase ratio of 43.84%.
Al Bashaer fund occupied the ninth position by an increased return of 24.33%. Finally, Naeem Misr fund saw an increase of 22.34%.
In terms of the Islamic money market funds, the United Bank’s Rakhaa fund occupied the first position with an increase ratio of 10.03%, managed by CIAM, followed by ADIB’s Money Market Fund with a ratio of 9.58% through Beltone company.
Islamic balanced funds were led by Audi Bank’s Ezdehar fund with an annual return of 35.04%, managed by Acumen, followed by Al Baraka Balanced Bank Fund with a ratio of 24.49% through AT Financial.