Beltone Asset Management’s newly launched B-Torohat fund witnessed strong demand from the outset, with its private tranche fully subscribed on the first day of the offering. The milestone reflects interest in the new investment product, which provides investors with exposure to initial public offerings (IPOs), subscription rights, secondary offerings, exchange-traded funds (ETFs), and recently listed stocks, as the Egyptian Exchange prepares for a new phase of government and private sector offerings.
The fund brings together a range of opportunities associated with IPOs and newly listed stocks within a single investment vehicle, allowing investors to access these opportunities through fund units rather than having to select and invest in each company individually. Beltone Asset Management targets an initial fund size of EGP 500 million, with the possibility of increasing the issuance size in line with subscription demand and applicable regulatory requirements.
The launch of B-Torohat reflects Beltone Asset Management’s strategy to expand its investment product offering and provide solutions that respond to developments in Egypt’s capital market. The fund targets investments in IPOs of Egyptian companies, subscription rights and secondary offerings involving companies listed on the Egyptian Exchange’s Main Market and the market for small and medium-sized companies, as well as ETFs and stocks of companies that have been listed on the exchange for no more than five years. This investment approach spans opportunities ranging from companies preparing to enter the capital market to recently listed companies and established businesses offering new shares or subscription rights, enabling investors to access a diversified range of opportunities through a single strategy.
The fund targets investors with a moderate to high risk tolerance who seek to grow their capital over the medium to long term. Returns are linked to the performance of the underlying investments and prevailing market conditions.
B-Torohat’s investment policy provides for allocating between 30% and 95% of the issuance proceeds to the targeted investments, including IPOs of Egyptian companies, subscription rights and secondary offerings on the Main Market, ETFs, and stocks of companies that have been listed on the Egyptian Exchange for no more than five years.
The fund’s launch coincides with developments in Egypt’s government and private sector IPO pipeline. According to the figures cited in the announcement, 24 of the 30 government-owned companies that the state intends to offer in the coming period have been listed, while a number of private sector companies are also preparing to offer shares across various economic sectors. These developments follow the record gains achieved by the Egyptian Exchange over the past three years, alongside a significant improvement in trading volumes and values. This progress supports efforts to attract new investor segments and provides companies with additional avenues for financing and expanding their ownership base.
IPOs provide investors with the opportunity to acquire ownership stakes in companies and potentially benefit from future increases in their market value, depending on business performance and market conditions. Subscription rights and secondary offerings also provide opportunities to invest in established companies.
Beltone Asset Management’s assets under management reached a record EGP 55.7 billion in the first half of 2026, marking a 104% year-on-year increase. The company currently manages 31 investment funds, including Beltone-branded funds and funds managed on behalf of other financial institutions.
B-Torohat joins Beltone Asset Management’s range of index-tracking funds, which have delivered strong returns since the beginning of 2026. The Meya Meya Fund recorded a return of 20% in the first half of 2026, while its assets under management reached EGP 1.8 billion, representing an 11.9-fold increase year on year. Meanwhile, Beltone EGX33, which tracks an index compliant with Islamic Sharia principles, surpassed EGP 1.9 billion in assets under management, representing a 72.5-fold year-on-year increase. These results reflect the diversity of the company’s investment products and growing demand for index-tracking funds.
