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Fund1

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Banque Misr Fund I- First Issue.  

General Data

General Data

Fund Name

Banque Misr Fund I -First Issue

Fund Category

Balanced Fund

Fund Objective

Achieve and distribute quarterly the maximum possible

investment return , also to minimize the risk through

portfolio diversification including the listed shares ,

governmental shares and bonds and nongovernmental

listed shares in the Egyptian Stock Exchange or

other stock exchange subjected to governmental

supervisory authority outdoors similar to the capital

market Authority , also the deposits , treasury bills

and investment certificates of other funds according

to the provisions of the Law 95 year 1992 and its

implementing regulation

Distributions

Quarterly

Inception Date

1 Febrauary 1995

Subscription & Redemption

Daily until 2PM from any of BM branches, implementation

is on the next day by the price of the end of the day of

submitting the application

 NAV Publishing

Daily at El Ahram Newspaper

Fund Manager

Misr Capital Investments

Custodian

AAIB

Auditors

Mustafa Shawky (Mazers) & Wahid Abdel Ghaffar (Baker Tilly)  

Financial Data

Financial Data

Fund Size at Inception

(*) EGP 300 million

Seed Capital by Banque Misr

EGP 15 million , the value of 15000 certificates not

refundable except at the end of the term of the fund.

Initial NAV per Certificate

(**)EGP100

Minimum Subscription

1 Certificate

Fund manager fees

The fees are settled according to the following segements:

1-Management Fees

 LE 100 mm:  0.03% of NAV

LE 100 - 200 mm: 0.25% of NAV

Above LE 200 mm: 0.02% of NAV

 

Calculated and saved daily and paid every 3 months

2-Performance Fees

6% annually from Net profit above 91 day T-bills yield+3%

Bank Fees

1% annually of Net Asset Value (NAV)

Subscription Fees

none

Redemption Fees

0.75% of the redeemeed value

Assets Allocation

Assets Allocation

Allocation Equities %

Max. Allocation:30% - 60% of total assets

Allocation Fixed Income(%)of Assets

Max. Allocation:40% - 60% of total assets

Securities Per Issuer

Max. Allocation: (10% of total assets) & (15% of issue)

Foreign Securities

Max. Allocation:( 25% of total assets)

Funds Issued by other banks

Max. Allocation: (20% of total assets) & (5% of issue)

*There was an increase in the fund's size at April 1997 from LE 300 mm to LE 400mm then to LE 500 mm at September 1997

**The nominal value of the certificate became LE100 after a split of 10:1 at 23 November 1997

fund one English.jpg 

 

 

 

 

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