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  |
