Egyptian investment bank, EFG-Hermes reported a 13.7 percent fall y-o-y in its assets under management (AUM) during the second quarter of the year, its chief executive announced Monday. Karim Awad, CEO of EFG Hermes Holding, said the group's total AUMs had reached $2 billion by the end of second quarter of 2016. EFG's total assets under management in Egypt also dropped by 22 percent to around 8.5 billion Egyptian pounds ($957.26 million) during the second quarter, Awad added. In regional markets, Awad said the Egyptian investment bank's AUMs declined 5 percent to $1.1 billion by end of the second quarter.