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 
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