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    Banque Misr Fund I - Second Issue

    General Data

    General Data

    Fund Name

    Banque Misr Fund I - Second Issue

    Fund Category

    Growth Fund

    Fund Objective

    Achieve 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

    The Fund may distribute dividends according to the Capital Market condition and the fund's performance and the fund manager's vision

    Inception Date

    17 September 1995

    Subscription & Redemption

    Daily until 2 pm from any of BM branches ,and implementation is on the next day by the end of day price of the day of submitting the application. 

    NAV Publishing

    Daily at El Ahram Newspaper

    Fund Manager

    Misr Capital Investment

    Custodian

    Arab African International Bank

    Auditors

    MRI (Mustafa Shawky & Partners) &Saleh,Barsoum&Abdel Aziz (Deliotte)

    Financial Data

    Financial Data

    Fund Size at Inception

    (*)EGP 200 million

    Seed Capital by Banque Misr

    EGP 10 million , the value of 10000 certificates not refundable except at the end of the term of the fund.

    Initial NAV per Certificate

    (**)EGP 1000 then L.E 66.67 after split of 15:1 at 23 november 1997 

    Minimum Subscription

    1 Certificate

    Fund manager Fees

    The fees are settled according to the following segments:

    1-Management Fees

    LE 100 MM 0.03% of NAV

    LE 100 - 200 MM 0.25% of NAV

    Above LE 200 MM 0.2% 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 redeemed value

    Assets Allocation

    Assets Allocation

    Allocation Equities %

    Not determined

    Allocation Cash %

    Max. Allocation: 50% of total assets

    Securities Per Issuer

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

    Foreign Securities

    Max. Allocation: 25% of total assets

    Funds Issued by other banks

    Max. Allocation: (20% of total assets ) & not exceeding (5% of the issue)

    *There was an increase in the fund' size at March1997 from LE200 mm to LE300 mm

    **The nominal value of the certificate became LE66.67 after split of 15:1 at 23 Nonvember 1997

     

     

      

 

 

 

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