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Banque Misr Fund IV "In accordance with provisions of Islamic Sharia Law"(EL Hessn) Click Here For More Info

 

General Information

Fund Name

Banque Misr Fourth Mutual Fund "Compliant with Islamic Sharia Law" ("Al-Hosn" Fund)

Fund Type

Open-Ended Investment Fund

Fund Objective

The fund aims to invest in accordance with Islamic Sharia principles and the resolutions and recommendations of the Permanent Sharia Supervisory Board for Banque Misr's Fourth Mutual Fund. It seeks to maximize returns for document holders while safeguarding the invested capital through diversified investments in Sharia-compliant sectors, ensuring risk management.

Distributions

Semi-annual distributions may be made if profits are achieved, based on the investment manager’s discretion

Inception Date

October 22, 2006

Subscription & Redemption

Subscription: Requests accepted daily during official working hours until 12:00 PM, executed the following day at the closing price of the submission day.

Redemption: Requests accepted throughout the week until the penultimate business day during official working hours and executed on the first business day of the following week.

NAV Publishing
  • Published every Sunday in Al-Ahram newspaper.
  • Published daily on the bank's website.

Fund Manager

CI Asset Management

Custodian

Arab African International Bank (AAIB)

Auditors

PKF Rashed Badr & Co.

 

  

Financial Information

Fund Size at Launch

EGP 200 million

Banque Misr Contribution at Launch

EGP 10 million

Document Offering Price

EGP 100

Minimum Investment

One document

Subscription Fees

None

Redemption Fees

None

 

 

Investment Manager Fees

Management Fees

0.45% annually of the fund's net assets

Performance Fee

15% of the fund's annual net profits exceeding either:

  • A 10% annual return, or

     

  • The average return on Banque Misr's 3-month Islamic deposits plus 3%, whichever is higher. This fee is shared equally between the investment manager (7.5%) and Banque Misr as the founding entity (7.5%).

Bank Fees

5 per 1,000 annually of the fund's net assets

Administrative Services Fees

0.05 per 10,000 annually

 

 

Investment Strategy

Equities

Allocation ranges between 30% and 95%

Fixed-Income Instruments

Allocation does not exceed 50%