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Banque Misr Fund I- First Issue. |
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General Data |
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General Data |
Fund Name |
Banque Misr Fund I -First Issue |
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Fund Category |
Balanced Fund |
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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 |
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Distributions |
Quarterly |
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Inception Date |
1 Febrauary 1995 |
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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 |
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NAV Publishing |
Daily at El Ahram Newspaper |
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Fund Manager |
Misr Capital Investments |
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Custodian |
AAIB |
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Auditors |
MRI (Mustafa Shawky & Partners) & Saleh,Barsoum &Abdel Aziz (Deliotte) |
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Financial Data |
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Financial Data |
Fund Size at Inception |
(*) EGP 300 million |
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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. |
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Initial NAV per Certificate |
(**)EGP100 |
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Minimum Subscription |
1 Certificate |
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Fund manager fees |
The fees are settled according to the following segements: |
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1-Management Fees |
LE 100 mm: 0.03% of NAV |
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LE 100 - 200 mm: 0.25% of NAV |
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Above LE 200 mm: 0.02% of NAV |
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Calculated and saved daily and paid every 3 months |
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2-Performance Fees |
6% annually from Net profit above 91 day T-bills yield+3% |
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Bank Fees |
1% annually of Net Asset Value (NAV) |
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Subscription Fees |
none |
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Redemption Fees |
0.75% of the redeemeed value |
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Assets Allocation |
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Assets Allocation |
Allocation Equities % |
Max. Allocation:30% - 60% of total assets |
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Allocation Fixed Income(%)of Assets |
Max. Allocation:40% - 60% of total assets |
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Securities Per Issuer |
Max. Allocation: (10% of total assets) & (15% of issue) |
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Foreign Securities |
Max. Allocation:( 25% of total assets) |
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Funds Issued by other banks |
Max. Allocation: (20% of total assets) & (5% of issue) |
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*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 |
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**The nominal value of the certificate became LE100 after a split of 10:1 at 23 November 1997 |
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