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Banque Misr Fund I - Second Issue |
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General Data |
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General Data |
Fund Name |
Banque Misr Fund I - Second Issue |
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Fund Category |
Growth Fund |
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Investment Objective |
Providing investors with medium to long term capital appreciation.The fund is primarily invested in Egyptian equities. |
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Distributions |
The Fund may distribute dividends according to the Capital Market condition and the fund's performance. |
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Inception Date |
17 September 1995 |
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Subscription & Redemption |
Daily before 12PM from any of BM branches |
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NAV Publishing |
Daily at El Ahram Newspaper |
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Fund Manager |
Concord International Investments |
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Custodian |
Banque Misr |
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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 200 million |
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Seed Capital by Banque Misr |
LE 10 million |
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Initial NAV per Certificate |
(**)EGP 66.67 |
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Minimum Subscription |
1 Certificate |
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Fund manager Fees |
The fees are settled according to the following segments: |
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1-Management Fees |
LE 100 MM 0.9% on eq.& 0.375% FI |
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LE 100 - 200 MM 0.7% eq. & 0.25% FI |
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Above LE 200 MM 0.7% eq. & 0.23% FI |
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with a minimum of 0.6% annually from the fund's portfolio |
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2- Performance Fees |
7.5% annually from Net profit above 91 day T-bills yield +1% |
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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 redemption price(NAV) payable to the fund |
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Assets Allocation |
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Assets Allocation |
Allocation Equities % |
Not determined |
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Allocation Cash % |
Not determined |
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Securities Per Issuer |
Max. Allocation: (10% of NAV) & (15% of issue) |
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Foreign Securities |
Not determined |
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Funds Issued bu other banks |
Max. Allocation: (10% of NAV) & (5% of issue) |
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*There was an increase in the fund' size at March1997 from LE200 mm to LE300 mm |
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**The nominal value of the certificate became LE66.67 after split of 15:1 at 23 Nonvember 1997 |
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