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Returns & Dividends
Prospectus
Banque Misr Fund IV"In accordance with provisions of Islamic Sharia Law"
General Data
Fund Name
Fund Category open
Islamic Equity Fund with periodic return
Fund Objective
Investing in accordance with provisions of Islamic Sharia Law, and the decisions and recommendations of the Fund's permanent Sharia Supervision Committee also maximizing the profits and minimizing risk through A portion not exceeding 50% of the Funds assets could be invested in foreign investments in stock markets that are subjected 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.
Dividends
The Fund may distribute semi annually dividends in case of realizing profits
Inception Date
22 October 2006
Subscription & Redemption
on Wednesday by the end of day price of Thursday and the transactions are implemented on the first working day of every week.
NAV Publishing
On first day of business week at Alahram newspaper
Fund Manager
Misr Capital (SAE)
Custodian
Banque Misr
Auditors
MRI (Mustafa Shawky & Partners) & The bureau of Dr. Abdel Aziz Hegazy & Partners
Financial Data
Fund Size at Inception
EGP 200 million
Seed Capital by Banque Misr
EGP 10 million
Initial NAV per Certificate
EGP100
Minimum Subscription
10 Certificates (for first time subsription ) then 1 certificate
Fund manager fees
1-Management Fees
0.45% Annually of Net Asset Value (NAV)
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) and not calculated in case the market value of the certificate is less than its face value
Bank Fees
0.5% annually of Net Asset Value (NAV)
Subscription Fees
none
Redemption Fees
Assets Allocation
Allocation Equities %
Max. Allocation: (90% of NAV)
Securities Per Issuer
Max. Allocation: (10% of total assets) & (15% of issue)
Securities Per Sector
Max. Allocation: (30% of total assets)
Global Depositary Receipts-(GDR)
Max. Allocation: (20% of total assets)
Foreign Securities
Max. Allocation: (50% of total assets)
Other Islamic Funds
Max. Allocation: (10% of total assets) & (5% of issue) of any other islamic fund
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