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Banque Misr Fund IV "In accordance with provisions of Islamic Sharia Law"(EL Hessn)

Banque Misr Fund IV "In accordance with provisions of Islamic Sharia Law"

General Data

General Data

Fund Name

Banque Misr Fund IV "In accordance with provisions of Islamic Sharia Law"

Fund Category open

Islamic Equity Fund with periodic return

Fund Objective

Investing in accordance with provisions of Islamic Sharia Law, and the decisions and recommendations of the Fund's permanent Sharia Supervision Committee also maximizing the profits and minimizing risk through A portion not exceeding 50% of the Funds assets could be invested in foreign investments in stock markets that are subjected to governmental supervisory authority similar to the Capital Market Authority, and should be in conformity with the decisions and recommendations of the Fund's Permanent Sharia Supervision Committee.

Dividends

The Fund may distribute semi annually dividends in case of realizing profits

Inception Date

22 October 2006

Subscription & Redemption

Applications are submitted on Wednesday by the end of day price of Thursday and the transactions are implemented on the first working day of each week.

NAV Publishing

On the firstbusiness day of each week in Al-Ahram newspaper

Fund Manager

CI Asset Management

Custodian

Arab African International Bank (AAIB)

Auditors

PKF

Financial Data

Financial Data

Fund Size at Inception

EGP 200 million

Seed Capital by Banque Misr

EGP 10 million

Initial NAV per Certificate

EGP100

Minimum Subscription

10 Certificates (for first time subscription ) then 1 certificate

Fund manager fees

1-Management Fees

0.45% Annually of Net Asset Value (NAV)

2-Performance Fees

7.5% of annual net profits above 10%annual return or average return of 3 months BM Islamic deposits+3%(whichever is more)and not calculated in case the market value of the certificate is less than its face value

Bank Fees

0.5% annually of Net Asset Value (NAV)

Subscription Fees

none

Redemption Fees

none

Assets Allocation

Assets Allocation

Allocation Equities %

Max. Allocation: (95% of NAV)

Securities Per Issuer

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

Securities Per Sector

Max. Allocation: (30% of total assets)

Global Depositary Receipts-(GDR)

Max. Allocation: (20% of total assets)

Foreign Securities

Max. Allocation: (50% of total assets)

Other Islamic Funds

Max. Allocation: (20% of total assets) & (5% of issue) of any other Islamic fund