Monday, January 31, 2011

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 COMI EY160,224989,192
Orascom Construction Industries ORSD LI25,572883,325
Orascom Telecom Holding SAE OTLD LI269,451845,746
Talaat Moustafa Group TMGH EY685,124758,821
Egyptian Financial Group-Hermes Holding HRHO EY151,426676,970
Telecom Egypt ETEL EY238,577648,384
Egyptian Kuwaiti Holding Co EKHO EY470,748589,569
Juhayna Food Industries JUFO EY631,632584,550
Ezz Steel ESRS EY202,446548,028
ElSwedy Cables Holding Co SWDY EY69,322539,060

Link to the product here for those interested.

No position

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