Egypt To Launch First Domestic ETF

Egypt is planning to launch its first domestically listed ETF as part of efforts to attract capital into a country that has been battered by political and economic instability after the toppling of Hosni Mubarak as president in February 2011.

Beltone Financial, a Cairo-headquartered financial services group, is expected to launch trading in the new XT-Misr ETF, which will track Egypt’s EGX 30 stock index, in late May or early June, with charges of around 1 per cent.