AXA Egypt Insurance has unveiled its first gold investment fund, marking the company as a trailblazer in the insurance sector. This historic launch positions AXA as the first insurance provider in Egypt to offer such an innovative financial product, bridging the gap between traditional insurance and modern investment strategies.
This initiative reflects AXA Egypt’s commitment to delivering cutting-edge financial solutions that cater to a diverse clientele seeking secure and profitable investment avenues. By integrating the stability of gold investment with the robust security of insurance, the company aims to meet the evolving demands of both local and international investors.
The newly launched gold fund offers a unique alternative to the conventional methods of purchasing and storing gold. By eliminating the burdens of manufacturing fees and storage concerns, AXA provides a hassle-free investment tool. Partnering with the Central Bank of Egypt (CBE), the fund ensures the physical gold is both securely stored and comprehensively insured.
“Our gold fund responds to a growing demand for flexible and integrated financial solutions within the local market,” stated Omar Shelbaya, CEO of AXA Egypt. “This initiative underscores our dedication to offering our clients exceptional investment opportunities that promise both stability and long-term growth.”
Beyond investment returns, the gold fund aligns with AXA Egypt’s broader mission to foster financial inclusion. By offering products that enable wealth accumulation rather than immediate cash redemption, AXA aims to empower more Egyptians to participate in the financial market.
“The gold fund is a significant step towards expanding access to long-term financial tools,” Shelbaya added. “We are not just providing a new investment option; we are reinforcing AXA’s role as a trusted financial partner in the Egyptian market.”
This gold fund is the latest addition to AXA’s suite of innovative investment products. Last year, the company introduced a Money Market Fund and an EGX30 Exchange-Traded Fund (EGX30ETF), both designed to offer clients competitive, market-relevant financial solutions.
The Money Market Fund offers daily pricing that reflects the net asset value without the risk of capital loss, while the EGX30ETF allows investors to track the performance of the EGX30 Index, trading on the stock exchange like traditional equities.
Financial analysts have praised AXA’s strategic move, highlighting how it could set a precedent for other insurance companies in Egypt to follow suit. “AXA’s gold fund is a timely innovation given the current economic climate, where investors are seeking stable and secure investment options,” commented Dr. Samir Nabil, a financial expert specializing in emerging markets.
