BM investment fund IV – according to Islamic Sharia

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  • Summary of IPO prospectus for BM investment fund IV in accordance with the provision of Islamic Sharia

 

Fund Name

BM Investment Fund IV – “in accordance with the provision of Islamic Sharia”

 

Investment Manager

HC Securities & Investment

 

Shari’a Supervisory Board

The fund has a permanent Shari’a supervisory board monitoring its performance on a regular basis

The purpose of the fund

Money investment and distributing the biggest investment return with preserving the capital and reducing the risks through the diversification of its investments all in accordance with the provision of Islamic Sharia.

 

Investment Policy

  • Investing in Sharia compliant activities

 

  • The strategy implies investing in activities compliant with the percepts of Islamic investment in partnership with companies.

 

  • The investors anticipate growth and obtain their dividends as well as the acquisition of capital gains at the end of the investment period, which is determined by the investment manager.

 

  • Investing in Islamic investment funds

 

  • Islamic investment compliant shares of Arab and Islamic companies listed in foreign stock mark Islamic investment standards with a total percentage do not more than 50% of the Fund's assets.

 

  • Investing in Islamic compliant investment schemes, whether Banque Misr or other Islamic banks.

 

Fund Size

EGP 200 million to be increased

Fund Types

Open with the possibility of distributing periodic return / Weekly buying and recovery

 

Nominal Value

EGP 100

Minimum IPO size

10 certificates

Maximum IPO size

Not Available

Purchasing/Selling

weekly/ first working banking day from each week at 12 PM

Dealing Outlets

All Banque Misr outlets

Announcing Certificate Prices

Al Ahram Newspaper to publish certificate prices first working banking day from each week  

 

Commission

IPO/ Purchase / Refund / Cashing interest Commissions are not available

Account Statement

submitted to client quarterly with no extra fees

Dividend Distribution

an eligible semiannual to be distributed in case of profits achievement

 

Bank Administrative Fees

0.5% (five per thousand) per annum calculated on the basis of the net asset value of the fund to be paid at the end of every three months.

 

Investment Manager Fees

  • Fund management Fees: Amounting to 0.45% (four and a half per thousand) per annum calculated on the basis of the net asset value of the fund to be paid at the end of every three months

 

  • Performance Fees: 7.5% (seven and a half percent) of the net profits of the fund's annual profits on more than 10% (ten per cent) per year or on an average return Banque Misr for Islamic transactions for a period of three months plus 3% (three percent), and so, whichever is higher, and so after the adoption of the auditors and not to these fees are calculated in the case of depreciation of the document for a nominal value of EGP 100.

 

 

  • Certificate Recoverable Amount

 

1

Certificate Price Upon IPO

EGP 100

2

Price on 29/10/2006

EGP 100.25

3

Price on 05/11/2006

EGP 100.45

4

Price on 12/11/2006

EGP 100.10

5

Price on 19/11/2006

EGP 100.45

6

Price on 26/11/2006

EGP 100.57

7

Price on 3/12/2006

EGP 100.31