Egypt-Focused Stock ETF Has Biggest Weekly Inflow Since 2014
- U.S.-based fund received about $11.5 million in new money
- EGX 30 index is the second best performer globally this year
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An exchange-traded fund focused on Egyptian equities had the biggest weekly inflow since 2014 as foreigners increase bets on this year’s second-best-performing stock market.
The VanEck Vectors Egypt Index ETF attracted $11.5 million in the five days ended March 8, more than any other week since September 2014. The assets under management climbed to $52 million,the highest since August. The U.S.-based fund invests more than 40 percent of its assets in real estate, chemicals and telecommunications shares trading in Cairo.