Blue Light Special – Egyptian Shares

Who doesn’t love Mondays!? Almost always up Monday keeps working like a charm… even better almost always up first day of the month comes tomorrow. Egypt is so last week.

Until this morning, I did not even know Market Vectors Egypt (EGPT) existed. Based on the average volume of sub 50,000 shares a day and less than $12M in assets, I was not the only one.

But for those with cast iron stomachs and 5 year time horizons I would assume barring a fireball in Egypt, a position today might offer some nice upside a few years down the road.

The Egypt Index ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Egypt Index.  The Market Vectors Egypt Index is a rules-based, modified capitalization-weighted, float-adjusted index intended to give investors exposure to Egypt.

Top 10 Holdings

Market Value (USD)
% of net assets
Commercial International Bank Egypt SAE 160,224 989,192
Orascom Construction Industries ORSD LI 25,572 883,325
Orascom Telecom Holding SAE OTLD LI 269,451 845,746
Talaat Moustafa Group TMGH EY 685,124 758,821
Egyptian Financial Group-Hermes Holding 151,426 676,970
Telecom Egypt ETEL EY 238,577 648,384
Egyptian Kuwaiti Holding Co EKHO EY 470,748 589,569
Juhayna Food Industries JUFO EY 631,632 584,550
Ezz Steel ESRS EY 202,446 548,028
ElSwedy Cables Holding Co SWDY EY 69,322 539,060

Link to the product here for those interested.

Disclosure: No position

About Mark Hanna 543 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

Visit: Market Montage

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