Menthum, the Egyptian digital savings platform, has launched the “Menthum USD Fixed Income Fund,” established in partnership with CI Capital Asset Management.
The new fund offers a secure savings opportunity with an attractive return in USD and high liquidity for individuals and companies.
It aims to foster a culture of saving and investing in Egypt by focusing on high-quality, low-risk fixed-income securities, including USD treasury bills and Eurobonds issued by the Egyptian government.
The fund is regulated by the Financial Regulatory Authority (FRA) in Egypt and aligns with Menthum’s vision of providing safe and smart saving solutions, making it an ideal choice for investors looking to preserve and grow their wealth in foreign currency and manage their USD liquidity.
Menthum USD Fixed Income Fund introduces new features tailored to meet investors’ needs, offering daily liquidity that allows for the purchase or redemption of investment units at any time.
The fund stands out for its unprecedented flexibility, free from the constraints of fixed terms or lengthy purchase and redemption processes.
It is a key component of the “Menthum USD Account,” providing a unique experience that surpasses traditional savings accounts.
The fund is fully transparent, allowing customers to track their total savings, daily profits, and transaction history at any time via the Menthum app.
Himanshu Shrimali, co-founder and Managing Director of Menthum , commented on the launch: “At Menthum, our mission is to create innovative financial solutions that meet the evolving needs of individuals in Egypt.
The launch of the ‘Menthum USD Account,’ supported by the Menthum USD Fixed Income Fund, marks a significant milestone in our quest to empower Egyptians by providing financial products that make their money work more effectively.
We take this opportunity to express our gratitude to the Financial Regulatory Authority (FRA) for its practical guidance and supportive approach, which encourages innovation and progressive governance.”
Dr. Amr AboulEnein, CEO and Managing Director of CI Capital Asset Management, said: “CI Capital Asset Management is pleased to be the investment partner and fund manager, serving investors seeking attractive returns through a diversified fund investing in safe assets.
The fund offers a seamless investment process aligned with modern mechanisms and high liquidity for managing USD cash surpluses.”
The Menthum USD Fixed Income Fund was launched at a time when there is increasing demand for innovative saving and investment methods in Egypt. It is exclusively available through Menthum’s user-friendly mobile app.
This app sets new standards in the financial services industry in Egypt, enabling customers to easily manage their savings and monitor their returns transparently.
Ismail Sarhank, co-founder and COO of Menthum, added: “Our partnership with CI Capital Asset Management, a leading company in fund management, aligns perfectly with our vision of expanding financial inclusion and providing transparent, effective, and accessible saving and investment solutions.
This product is a direct response to the needs expressed by our customers, who require a reliable way to save in USD for various purposes such as international education fees, export revenues, or startup financing.
We are confident that this fund, offering stability and growth, will be a valuable addition.”
Tarek Shahin, Chief Investment Officer of CI Capital Asset Management, commented on the fund’s investment strategy, saying: “We aim to build a diversified portfolio with varying maturity dates.
This approach is designed to maximize returns and liquidity, offering a unique fund with flexible purchase and redemption options.”
The subscription for the fund opens on August 26, 2024. Customers can easily access it through the Menthum mobile app, available on both iOS and Android platforms.
