Banque Misr Mutual Fund in Egyptian Pounds with a daily cumulative return (day by day)
The Fund’s objective is to provide investors with daily liquidity through calculating a daily return of the invested money which is added daily to the customers account at the end of every day . Its objectives are achieved through diversifying its investments in secure high-yielding short-term interest-bearing instruments. It invests in short and medium term investments such as sovereign bonds, treasury Bills, notes, bonds and bank deposits, certificates of deposits, corporate bonds, and other EGP securities .
22 August 2004
Subscription & Redemption
Daily before 2PM from any of BM branches with the same day price
On first day of business week at Alahram newspaper
Saleh,Barsoum & Abdel Aziz (Delloite) - Hazem Hassan (KPMG)
Fund Size at Inception
L.E 200 Million
Seed Capital by Banque Misr
EGP 10 million
Initial NAV per Certificate
Fund manager fees
The investment manager shall be entitled to monthly fees amounting to %0.26 (twenty six hundredths) annually from net Fund assets, in return for managing the funds. Said commission shall be reserved daily and remunerated at the conclusion of each month; provided that the fees allocation is approved by the Fund's controllers in the periodic audit.
The founding entity shall be entitled to commissions – in return for the bank's rendering of services for both the Fund and the underwriters – amounting to %0.3 (thirty hundredths) annually from net Fund assets. Said commission shall be reserved daily and remunerated at the conclusion of each month; provided that the fees allocation is approved by the Fund's controllers in the periodic audit.
0.25% of NAV
Individuals: LE 85 Corporates: LE 485
Allocation of Cash %
Max allocation 60% of total assets
Allocation of Treasury Bills %
Max allocation 75% of total assets except in case the return on treasury bills in more than the deposits return.
Allocation of Treasury Bonds %
40% of total assets
Allocation of Saving Certificates %
Allocation of Corp. Bonds
30% of total assets( 20% max. for each ) with credit rating - BBB at least
Securities Per Issuer
max allocation: (10% of total assets) & ( 15% of Issue )
Funds Cert. Issued by other Banks
max allocation: (10% of total assets) & ( 5% of Issue )