In the week ending January 12, mutual funds outperformed the PAMI, inching down 0.1 percent versus the
PAMI's slip of 0.21 percent. Eleven local funds made week-on-week gains. Export Development Bank Fund led the week’s gainers with a 0.5 percent gain, tailed by Orient Trust Fund’s advance of 0.36 percent. Egyptian American Bank Fund finished at the bottom of the list, slipping 1.11 percent.
Starting the year, mutual funds outperformed the PAMI in terms of YTD performance, as it inched down 0.27 percent, while the PAMI dropped 1.72 percent to 7745.7. Orient Trust Fund starts the year leading local funds with a 0.43 percent YTD gain. EAB Fund realized the lowest performance with a 1.42 percent decline in its YTD net asset value.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
