Concord International Investments Group: Best Asset Manager Egypt 2019


Over the past three years, Egypt has implemented the reforms and austerity measures required to hasten its economic recovery and establish the country as a preferred destination for foreign direct investment. The country has benefited from an Extended Fund Facility arrangement from the International Monetary Fund (IMF) which allocated $12b to support Egypt’s macroeconomic stabilisation and strengthen GDP growth. The final disbursement of the loan was released in July and the IMF arrangement ends in November, but the stage has already been set for success. Officials are confident the policies put in place will continue creating an attractive space for foreign investors. As the first foreign fund manager to be fully licensed in Egypt, the Concord International Investments Group extends a warm invitation to investors hoping to realise attractive returns. The SEC-registered firm is based in New York City with offices in Cairo and Tokyo, effectively managing Egyptian, Turkish, and US equity and fixed-income securities directly or through the portfolios and funds of its affiliates. The judging panel is well-versed in the merits of Concord’s asset management prowess as the firm has been recognised in previous award programmes. With national GDP growth topping 5 percent, unemployment hitting a 20-year record low, and Egyptian bonds outperforming other emerging markets with the highest returns of the year (over 25 percent), Concord is perfectly positioned to capitalise on that momentum. The judging panel is happy to reaffirm its initial — and repeat — decision: Concord International Investments Group takes the 2019 award for Best Asset Manager (Egypt).