Prime Egypt’s Funds Performance
Weekly Performance: Last week mutual funds outperformed the PAMI, ending the week flat versus the PAMI's 0.21 percent dip. Half of the local funds made week-on-week gains. SAIB First Fund led local funds with a 0.55 percent rise, while Export Development Bank Fund inched up 0.43 percent. Meanwhile, the bottom performer was Suez Canal Bank, which dipped 0.56 percent.
YTD Performance: Mutual funds continued to outperform the PAMI in terms of YTD performance, as the PAMI closed down 34.91 percent, while the average funds' NAV declined only 12.23 percent. Both AMEX Second Fund and SAIB Third Fund, continue to lead YTD performers with 10.10 percent and 6.85 percent YTD gains, respectively. Suez Canal Bank Fund has exhibited the lowest performance with a 33.86 percent decline in its YTD NAV. (Prime Securities S.A.E.)
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