Morocco’s Association of Moroccan Investment Companies and Funds (ASFIM) has appointed Majdouline Fakih as its new vice-president. Ms Fakih, who is general manager of Saham Capital Gestion, was unanimously appointed at a board meeting on Friday, 4 September. She joins an executive board led by Mostafa Hassani, general manager of Valoris Management, who is president. Souhail Chalabi, general manager of AFG Asset Management, and Widad Ouardi, general manager of Alphavest Asset Management, are the other vice-presidents.
ASFIM thanked outgoing vice-president Tahar Zerrari for what it described as his “remarkable work”, commitment and contribution to the development of Morocco’s asset management sector during his term.
ASFIM represents investment management companies overseeing collective investment funds, known as OPCVM in Morocco.
The sector manages between 500bn and 650bn Moroccan dirhams ($50bn-$65bn) in assets, with bond funds accounting for the largest share. These funds are widely used by institutional investors, including pension funds, insurers and banks.
Equity and money-market funds make up most of the remaining assets.
Morocco’s asset management companies are regulated by the Moroccan Capital Market Authority (AMMC), which oversees investor protection, liquidity requirements and compliance.
