In the last week of the year Egyptian mutual funds outperformed the PAMI, dipping 0.4 percent, whereas the PAMI fell 1.03 percent. Sixteen funds were able to end the week on a positive note.
Misr International Bank Fund and Misr Exterior Fund were the top gainers, each advancing 1.47 percent and 1.20 percent, respectively. Meanwhile, the bottom performer was SAIB Third Fund, dropping 2.54 percent following distribution of LE2.75/certificate.
Mutual funds continued to outperform the PAMI in terms of YTD performance, as the PAMI closed down 39.27 percent, while the average funds' NAV declined only 12.64 percent. The two fund gainers remain intact, as AMEX Second Fund and SAIB Third Fund lead with 11.0 percent and 7.45 percent YTD gains, respectively. Suez Canal Bank Fund has sustained the lowest performance with a 35.09 percent decline in its YTD NAV.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
