The fund is fully dedicated to invest in the Egyptian listed money-market and fixed-income instruments. The investment structure of the fund at anytime should be as such:
Up to 100% of total assets in government securities.
Up to 49% of total assets in T-bonds and corporate bonds combined.
Up to 20% of total assets in corporate bonds with a minimum rating of BBB- provided that it does not exceed 10% of total assets for a single issue.
Up to 30% of total assets in money-market funds provided that it does not exceed 20% of the funds assets (Tharaa) and not more than 5% of any mutual funds’ assets (invested in).
Minimum 10% of the funds’ assets in deposits and T-Bills.
15% maximum allocation in any security provided that it does not exceed 396 days.
Maximum weighted average duration of the funds’ portfolio investments is 150 days.
Investment activities comply with strict regulations and holding limitations imposed by law 95 of 1992 and its executive regulations.
EGBANK acts as the custodian of the fund. All assets of the fund are held with the custodian. The custodian is responsible for ensuring the preservation of the assets, the collection of the dividends and distributions belonging to the fund.
Investment certificates are valued at the end of each day. This also represents “Subscription Price” and “Redemption Price”. The NAV is published in an official newspaper on Sunday, every week.
Subscription takes place on a daily basis during official banking working hours (from 9 a.m. till 12 p.m.), at any branch of the EGBANK. Subscribers are to submit the application forms based on the “closing price of the previous day”. All application forms will be processed and fulfilled on the same day of submitting the application.
50 Investment Certificates with no minimum thereafter.
Subscription / Redemption : None
Management Fees: The fund manager receives 0.25% per annum of the funds’ NAV as management fees calculated daily and paid in paid on a monthly basis.
Bank Administrative Fees:EGBANK receives 0.40% per annum of the funds’ NAV as administrative fees calculated daily and paid in paid on a monthly basis.
Fund Admin. Fees:The fund manager receives 0.05% per annum of the funds’ NAV calculated daily and paid in paid on a monthly basis.
The custodian bank receives 0.1% of the total market value of the securities under its custody.
Redemption takes place on a daily basis during banking working hours (from 9 am to 12 pm) at any branch of the EGBANK. Customers who want to redeem are to submit the application forms based on the “closing price of the previous day”. All application forms will be processed and fulfilled on the same day of submitting the application.
Temporary suspension of redemption could occur due to extra ordinary circumstances and after EFSA approval such as :
Overwhelming redemption orders that would limit the fund managers ability to liquidate.
Gomaa Farag (Baker Tilly) and
Wael Heida (Dr. Abdelaziz Hegazy office)
Distribution takes place quarterly, from 5% to 95% from net profit in excess to the par value. The distribution shall occur at the own discretion of the fund manager.