|
Banque Misr Fund I- First Issue. |
|
General Data |
|
General Data |
Fund Name |
Banque Misr Fund I -First Issue |
|
Fund Category |
Balanced Fund |
|
Investment Objective |
Providing investors with an income return periodically by distributing interest and dividend income from investments and realised capital gains from the disposal of investments. |
|
Distributions |
Quarterly |
|
Inception Date |
1 Febrauary 1995 |
|
Subscription & Redemption |
Daily before 12PM from any of BM branches |
|
NAV Publishing |
Daily at El Ahram Newspaper |
|
Fund Manager |
Concord International Investments |
|
Custodian |
Banque Misr |
|
Auditors |
MRI (Mustafa Shawky & Partners) & Saleh,Barsoum &Abdel Aziz (Deliotte) |
|
Financial Data |
|
Financial Data |
Fund Size at Inception |
(*) EGP 300 million |
|
Seed Capital by Banque Misr |
EGP 15 million |
|
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: 0.9% on equity.& 0.375% FI |
|
LE 100 - 200 mm: 0.7% eq. & 0.25% FI |
|
Above LE 200 mm: 0.7% eq. & 0.23% FI |
|
|
with a minimum of 0.6% annually of the fund's portfolio |
|
2-Performance Fees |
7.5% annually from Net profit above 91 day T-bills yield+1% |
|
Bank Fees |
1% annually of Net Asset Value (NAV) |
|
Subscription Fees |
none |
|
Redemption Fees |
0.75% of the redemption price(NAV) payable to the fund |
|
Assets Allocation |
|
Assets Allocation |
Allocation Equities % |
Max.Allocation: (50% of total assets) |
|
Allocation Fixed Income(%)of Assets |
Max. Allocation:( 10% of NAV ) |
|
Securities Per Issuer |
Max. Allocation: (10% of NAV) & (15% of issue) |
|
Foreign Securities |
Max. Allocation:( 50% of NAV) |
|
Funds Issued by other banks |
Max. Allocation: (10% of NAV) & (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 |
|
|