Charitable
Investment Fund in Support of Sports – “Egyptian Sports Fund” |
General Information |
| Name of Fund | Charitable Investment Fund in Support
of Sports – “Egyptian Sports Fund” |
Type of Fund | Open
Investment Fund |
Fund Objectives | All
profits and revenues generated from the Fund’s investments – until expiration
thereof – shall be directed to social and charitable purposes; provided that
this is done through registered associations, private institutions,
government entities, government-supervised entities or subsidiaries involved
in charitable activities. Said activities must aim to develop and serve the
community, as per the provisions of the authority’s Board Resolution No. (19)
of 2018: - Support and fund all types
and forms of sport, as determined by the Fund’s Board.
- Support and fund local,
regional or global sports competitions or the Egyptian Olympic games.
- Support and fund the
establishment of sports training and rehabilitation centers for Egyptian
athletes and coaches.
- Support athletes via all
means possible, whether financially or morally, in order to further and
develop their performance.
- Support and fund awareness
campaigns associated with Egyptian sports, in Egypt and around the world.
- Support and fund youth
centers, clubs, sports federations and all types of sports venues, in light
of what is determined by the Fund’s Board.
- Any other purposes or
activities aiming to endorse Egyptian sports, as determined by the Fund’s
Board, including funding national sports projects and athlete bonuses, as per
the approved regulations of the Ministry of Youth and Sports.
|
Distributions | None |
Purchase | The actual day of
purchase shall be on Sunday every two weeks |
Redemption | The
first date for receiving redemption requests shall be after a period of three
years, starting on the first day of Fund operation, following the end of subscription,
to be duly announced at a closing price, on Sunday every two weeks. |
Publishing Document Price | First
business day of every week via Al-Ahram newspaper |
Fund Manager | Beltone Investment Fund Manager, an
Egyptian shareholding company established pursuant to Law and licensed to
engage in the management of investment funds, under license no. (319) dated
6/1/2004. |
Custodian Controller | Banque Misr RSM – Magdy Hashish and Partners Baker Tilly – Wahid Abdel Ghaffar
& Co. |
Financial Information |
Financial Information | Size of Fund upon Issuance | EGP 5,000,000 - Five Million Egyptian
Pounds |
Contribution of Banque Misr upon
Issuance | EGP 4,998,000 - Only Four Million
Nine Hundred and Ninety-Eight Thousand Egyptian Pounds |
Document Price | EGP 100 |
Min. and Max Purchase Price | No minimum or maximum |
Investment Manager Fees Management Fees | 0.2% annually of net fund asset value |
Bank Fees | 0.2% annually of net fund asset value |
Purchase Commission | None |
Redemption Commission | None |
Investment Ratios |
| Shares to Fund Assets | Maximum 20% of net Fund assets |
Maximum Securities per Company | 15% of Fund finances and 20% of company |
Treasury Bonds | Maximum 95% of total Fund finances |
Other Fund Documents | 20% of net Fund assets |
