A Luxembourg-domiciled investment vehicle designed to provide Egyptians abroad with flexible access to Egyptian sovereign Eurobonds
NI Capital, a leading Egyptian financial services and investment management company, is expanding its financial offerings with the launch of Memphis Fund, a specialized offshore investment vehicle designed to provide Egyptians residing abroad with flexible access to Egyptian sovereign Eurobonds.
The fund reflects NI Capital’s commitment to developing tailored investment solutions for investors seeking exposure to Egypt’s sovereign bonds through an international settlement mechanism.
Settlement Through an International Financial Infrastructure
Domiciled in Luxembourg and established as a limited partnership (LP), Memphis Fund operates within Luxembourg’s regulated financial framework and is subject to the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the public authority responsible for supervising professionals and financial products in Luxembourg.
NI Capital Investment Holding serves as the Fund’s investment manager, while Opportunity Financial Services, Luxembourg, acts as the Fund’s administrator.
Subscriptions and redemptions are settled through Clearstream, enabling eligible investors to place their orders through their banks outside Egypt using Memphis Fund’s International Securities Identification Number (ISIN).
Memphis Fund combines NI Capital’s asset management expertise and understanding of Egyptian credit risk with Luxembourg’s established financial infrastructure and regulatory environment, and Clearstream’s international settlement mechanism.
Flexible Liquidity Designed for Egyptians Abroad
A key feature of Memphis Fund is its focus on subscription and redemption flexibility, liquidity management, and international settlement.
Memphis Fund offers weekly subscriptions and monthly redemptions, with no mandatory holding period and no redemption costs. This structure is designed to provide Egyptian expatriates and international investors with exposure to Egypt’s sovereign international bonds while offering greater flexibility in managing their US-dollar liquidity.
The Fund’s target size is approximately USD 100 million, with a minimum subscription of USD 20,000 (twenty thousand US dollars), compared with the minimum of USD 200,000 (two hundred thousand US dollars) required to purchase Egypt’s Eurobonds directly.
Seamless Subscription and Execution
NI Capital has designed the subscription process to facilitate participation by Egyptians residing outside Egypt.
Investors can begin by visiting the NI Capital website, downloading the official subscription documentation, and sending the completed forms to the designated fund-services contacts.
Following verification of the subscription forms by the Fund Administrator, investors can instruct their banks to initiate transfers of their desired investment amount through standard banking channels, using the Fund’s ISIN:
ISIN: LU3350922871
Fund: Memphis Fund – Class A USD Inc
Subscriptions and redemptions are processed through the international settlement infrastructure provided by Clearstream via investors’ respective banks.
Tax and Regulatory Considerations
Memphis Fund’s Luxembourg structure provides an international investment framework within which investors remain subject to the tax regulations applicable in their respective jurisdictions.
Investors are advised to consult their independent tax advisers and review the laws and regulations applicable in their tax jurisdiction before making an investment decision. The Fund’s published materials note that investors are responsible for determining any applicable tax liabilities in their respective jurisdictions.
A New Gateway to Egyptian Sovereign Fixed Income
With Memphis Fund, NI Capital has created a dedicated investment channel for Egyptians abroad and international investors seeking exposure to Egyptian sovereign Eurobonds through an offshore, institutionally structured vehicle.
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