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Banque Misr Fund IV"In accordance with provisions of Islamic Sharia Law" |
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General Data |
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General Data |
Fund Name |
Banque Misr Fund IV"In accordance with provisions of Islamic Sharia Law" |
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Fund Category |
Islamic Equity Fund |
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Investment Objective |
Investing in accordance with provisions of Islamic Sharia Law, and the decisions and recommendations of the Fund's permanent Sharia Supervision Committee. A portion not exceeding 50% of the Funds assets could be invested in foreign investments in stock markets that are subject to governmental supervisory authority similar to the Capital Market Authority, and should be in conformity with the decisions and recommendations of the Fund's Permanent Sharia Supervision Committee. |
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Dividends |
The Fund may distribute semi annually dividends in case of realizing profits |
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Inception Date |
24 October 2006 |
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Subscription & Redemption |
Before 12PM on first day of business week from any of BM branches |
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NAV Publishing |
On first day of business week at Alahram newspaper |
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Fund Manager |
HC For Funds Management |
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Custodian |
Banque Misr |
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Auditors |
MRI (Mustafa Shawky & Partners) & The bureau of Dr. Abdel Aziz Hegazy & Partners |
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Financial Data |
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Financial Data |
Fund Size at Inception |
EGP 200 million |
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Seed Capital by Banque Misr |
EGP 10 million |
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Initial NAV per Certificate |
EGP100 |
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Minimum Subscription |
10 Certificates (for first time subsription ) |
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Fund manager fees |
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1-Management Fees |
0.45% Annually of Net Asset Value (NAV) |
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2-Performance Fees |
7.5% of annual net profits above 10%annual return or average return of 3 months BM Islamic deposits+3% (whichever is more) |
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Bank Fees |
0.5% annually of Net Asset Value (NAV) |
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Subscription Fees |
none |
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Redemption Fees |
none |
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Assets Allocation |
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Assets Allocation |
Allocation Equities % |
Max. Allocation: (90% of NAV) |
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Allocation Cash and Equivalents % |
Min. Allocation: (10% of NAV) |
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Securities Per Issuer |
Max. Allocation: (10% of NAV) & (15% of issue) |
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Securities Per Sector |
Max. Allocation: (30% of NAV) |
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Global Depositary Receipts-(GDR) |
Max. Allocation: (20% of NAV) |
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Foreign Securities |
Max. Allocation: (50% of NAV) |
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Other Islamic Funds |
Max. Allocation: (10% of NAV) & (5% of issue) |
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