Concord International Investments Group: Best Asset Manager Egypt 2016
Even amidst at times turbulent conditions, Egypt has started to flourish since President Abdel Fattah el-Sisi’s election in June 2014 and the launch of the well-received Egypt The Future initiative. For securities and investments, developments things are racing forwards – and the solidly-established Concord International Managements group is well ahead of the game.
The Concord Group has been present in Egypt since 1994. The company has been a pioneer in Egyptian investment ever since. It was the first firm to establish both closed-ended and open-ended country funds and remains the only UCITS (undertaking for collective investments in transferable securities) fund invested in Egyptian securities.
Headquartered in New York, the group manages approximately $1.4 billion. Most of those funds are currently invested in Egyptian equities. Concord Group has shown an unrivalled mastery of Egyptian markets. Over the past year, investment flows from public and private sector banks, multilateral institutions, development groups, and high-net-worth individuals have increased significantly. Concord Group serves that demand with up-to-date advice on asset management, real estate investment, and corporate finance.
A secret to the group’s success is its global approach. The Egyptian division maintains a sharp focus on the local market and attracts the most talented and experienced professionals, including a large number of former CEOs of major corporations. However, to avoid any bias, the Egyptian team’s members must also convince their colleagues in New York before any investment decision is made.
Currently Concord manages four funds invested in listed Egyptian equities and one Fund invested in listed Turkish equities. Their assets under management are currently a combined US$ 337 million. In addition, the firm has launched and managed four private equity funds with $200 million of combined committed capital.
Concord attributes its continued success on its ability to rely on the experience, diligence and rigorous fundamental requirements applied by its management team and its market renowned in-house research department. Concord’s cohesively applied long term investment philosophy has proven over the years to be a very successful investment approach in both its listed and private equity investments, capable of withstanding market and geopolitical volatility.
The CFI.co judging panel applauds the innovative strategy and the foresight Concord Group displays in the management of its investments. This unique approach deserves recognition. For the second year running, the judges are delighted to extend Concord International Investments Group the Best Asset Manager Egypt Award.
