Banque Misr Mutual Fund in Egyptian Pounds with a daily cumulative return (day by day) Click Here For More Info

General Information

Fund Name

Banque Misr Mutual Fund in Egyptian Pounds with Daily Periodic Returns ("Day by Day")

Fund Type

Money Market Fund

Fund Objective

The fund specifically aims to provide a savings and investment vehicle that offers daily liquidity through cumulative daily returns on invested amounts. These returns are credited to the client’s account with the bank at the end of each day.

Distributions

Daily accumulated return

Inception Date

August 22, 2004

Subscription & Redemption

Subscription: Requests are accepted daily until 12:00 PM at any Banque Misr branch and executed on the same day.

Redemption: Requests are accepted daily until 12:00 PM at any Banque Misr branch and executed on the same day.

NAV Publishing

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

Fund Manager

CI Asset Management

Auditors

KPMG- Hazem Hassan Consulting

Financial Information

Fund Size at Launch

EGP 200 million

Banque Misr Contribution at Launch

EGP 10 million

Document Offering Price

EGP 10

Minimum Investment

EGP 10,000 (first-time subscription)

Subscription Fees

None

Redemption Fees

None

Investment Manager Fees

Management Fees

The investment manager is entitled to monthly management fees amounting to 0.35% annually of the fund’s net assets, with a maximum cap of 1.40% annually of the fund’s net assets.

Performance Fees

None

Bank Fees (Shareholder Registry Management)

0.003% annually of the fund’s net assets, subject to a maximum limit.

Marketing Fees

The founding entity charges fees of 0.06% annually of the fund’s net assets for providing services to the fund and subscribers. This fee is accrued daily and paid at the end of each month, with the amounts approved by the fund’s auditors during periodic reviews.

Investment Strategy

The fund invests in short- and medium-term liquid investments with fixed returns, such as treasury bills, bonds, bank deposits, and savings certificates.