Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Return from insurance, pension funds in EGX double any other investment tool
EGP 100bn available for stock market investment, Minister of Social Solidarity highlights
Sara Aggour Published in Daily News Egypt on 09 - 06 - 2015

img class=" wp-image-260477" src="/app/uploads/2015/06/6-4.jpg" alt="Minister of Social Solidarity said that around EGP 400bn are not available for investment because they are "still tangled with the Ministry of Finance" (DNE File Photo/ By Mahmoud Fekry)" width="296" height="197"/
Only 2% of the insurance and pension funds are invested in the stock market. The average return on those funds is double the return we have received from any other investment tool, Minister of Social Solidarity Ghada Wali announced Tuesday.
The minister noted that despite coming out a fiscal, food and fuel crises in 2010 and with the international stock markets facing many challenges, the insurance and pension funds were stable.
"In 2010, the funds' returns produced a 16% return," Wali said. "In 2013 and 2014, the return reached 18.5% and 29%, respectively."
Wali added that insurance and pensions funds available for investment in the stock market are approximately EGP 100bn. She added that around EGP 400bn are not available for investment because they are "still tangled with the Ministry of Finance".
Wali pointed out that a team that includes herself, Minister of Finance Hany Kadry Dimian and Minister of Planning Ashraf El-Araby, has set several steps during the past week to untangle that figure.
"In the US, around 57% are invested in the stock market, while in China about 25% are invested," Wali said. She added that in Bahrain around 15% of the funds are invested in the capital market while Saudi Arabia investment is 13%.
Wali said the funds are long-term, and several conditions are placed on what type of fund the General Authority for Social Security and Pensions (GASSP) deals with. She noted that a committee of economic experts was formed to assist in the decision-making process and the selection of the investment direction.
"No investments will be made until they are thoroughly studied and have clear return," the minister said.
The investment portfolio of the GASSP is focused on petrochemicals, water resources and construction materials, the minister said, adding that there is still room for expansion.

Clic here to read the story from its source.