Concord International Investments Group: Best Asset Manager Egypt 2015

For Egyptian securities there is but one place of note to go: the asset managers of the Concord International Investments Group who, in 1994, got in on the ground floor and have since reached the market’s apex. The first foreign fund manager to be fully-licensed in Egypt, the Concord Group feels right at home in Cairo.

The Concord International Investments Group is headquartered in New York and registered at the US Securities and Exchange Commission (SEC). The firm’s peerless expertise in navigating Egypt’s capital markets has gained wide recognition. The Concord Group is regularly engaged by both public and private sector banks in Egypt as well as multinational institutions and high-net worth individuals seeking advice on asset management and corporate finance.

The Concord Group was the first firm to establish both closed-ended and open-ended country funds, and is also the only UCITS (Undertaking for Collective Investments in Transferable Securities) fund invested in Egyptian securities. The group also manages four direct investment funds and has successfully exited several of its investments. The company also concluded a number of advisory assignments for corporations focused on tourism, real estate, and development.

The Concord Group is justifiably proud of its exceptionally strong in-house research team which is comprised of experienced professionals dedicated exclusively to the Egyptian market and committed to excellence. An interesting twist is that the research team in Egypt must wholly convince their colleagues in New York of the soundness of their findings before any investment decisions are made. This procedure was conceived to weed out any localised sentimentality.

The firm sticks to a simple, yet elegant, investment formula that has proven its worth over many years: picks are based on solid fundamentals, liquidity, and earnings growth.

Founded in 1988, the Concord Group is entrusted with the funds of individuals, families, foundations, and institutions. As such, the firm’s primary objective is to hold long and to prosper in tandem with companies in which it has acquired a stake. The Concord Group manages a number of investment portfolios, mutual funds, and private equity investments with a combined value of over $1.1bn of which $0.6bn is invested in Egyptian securities.

The CFI.co judging panel is most impressed by the vast expertise displayed by the Concord International Investments Group in successfully managing large positions in a market both promising and notoriously difficult to gauge. By establishing a decision-making process that is both distinctive and highly fail-resistant, if not fail-proof, the Concord Group has carved out an expanding niche in a most desirable market. That takes foresight and knowledge. The judges wish to reward these rare traits with the 2015 CFI.co Best Asset Manager Egypt Award.