Banque Misr Mutual Fund - Second Issue - Capital growth

Fund Name

Banque Misr Mutual Fund - Second Issuance - Capital growth

Fund Category

Growth Fund

Fund Objective

Achieve the maximum possible investment return, also to minimize the risk through portfolio diversification including the listed shares, governmental shares and bonds and nongovernmental listed shares in the Egyptian Stock Exchange or other stock exchange subjected to governmental supervisory authority outdoors similar to the capital market Authority, also the deposits, treasury bills and investment certificates of other funds according to the provisions of the Law 95 year 1992 and its implementing regulation.

Distributions

The Fund may distribute dividends according to the Capital Market condition and the fund's performance and the fund manager's vision

Inception Date

17 September 1995

Subscription & Redemption

Daily until 12 pm from any of BM branches, and implementation is on the next day by the end of day price of the day of submitting the application.

NAV Publishing

weekly at Al-Ahram Newspaper

Fund Manager

CI Asset Management

Custodian

Auditors

Khaled el Dahawy

Financial Data

Financial Data

Fund Size at Inception

(*)EGP 200 million

Seed Capital by Banque Misr

EGP 10 million , the value of 10000 certificates not refundable except at the end of the term of the fund.

Initial NAV per Certificate

(**)EGP1000 then L.E 66.67after split of 15:1 at 23 November 1997

Minimum Subscription

1 Certificate

Fund manager Fees

The fees are settled according to the following segments:

1-Management Fees

LE 100 MM 0.03% of NAV

LE 100 - 200 MM 0.25%of NAV

Above LE 200 MM 0.2%of NAV

Calculated and saved daily and paid every 3 months

2- Performance Fees

6% annually from Net profit above 91 day T-bills yield +3%

Bank Fees

1% annually of Net Asset Value (NAV)

Subscription Fees

none

Redemption Fees

0.75% of the redeemed amount

Assets Allocation

Assets Allocation

Allocation Equities %

50-95 % of total net asset value

Allocation Cash %

Max allocation: 50% of total net asset value

Securities Per Issuer

Max. Allocation: (15% of NAV) & (20 %of issue)

Foreign Securities

Max. Allocation: 25% of total assets

Funds Issued by other banks

Max. Allocation: (20% of total assets ) & notexceeding (5% of the issue)

*There was an increase in the fund size at March1997 from LE200 mm to LE300 mm

**The nominal value of the certificate became LE66.67 after split of 15:1 on 23 November 1997