Last week mutual funds outperformed the PAMI, inching down 0.94 percent versus the PAMI's slip of 4.32 percent. Only three local funds made week-on-week gains. AMEX Second Fund led the week’s gainers with a modest 0.69 percent gain, followed by SAIB Third Fund’s advance of 0.16 percent. Egyptian American Bank Fund finished at the bottom of the list, slipping 2.27 percent.
Mutual funds outperformed the PAMI in terms of YTD performance, as it inched down 1.15 percent while the PAMI dropped 5.97 percent to 7,410.9. AMEX Second Fund topped local fund performance with a 1.0 percent YTD gain.
Meanwhile, Export Development Fund realized the lowest performance with a 2.74 percent decline in its YTD net asset value.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
