Prime Egypt’s mutual funds end the week with slight gains
Last week mutual funds outperformed the PAMI, closing flat whereas the PAMI dipped 0.24 percent. Local funds’ gainers outnumbered losers 2 to 1. Delta Bank Fund and AMEX First Fund were among the top two gainers, inching up 0.41 percent and 0.40 percent, respectively. Meanwhile, the bottom performer was Bank Misr Second Fund, slipping 0.43 percent.
Mutual funds continued to outperform the PAMI in terms of yield to maturity (YTM) performance, as the PAMI closed down 35.58 percent, while the average funds' net asset value (NAV) declined only 12.51 percent. The two income fund gainers remain intact as, AMEX Second Fund and SAIB Third Fund led with 10.5 percent and 7.1 percent YTD gains, respectively.
Suez Canal Bank Fund sustained the lowest performance with a 34.02 percent decline in its YTD NAV.
Prime Securities S.A.E.
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