El Masi Investment Fund
With capital growth and periodical distribution
The Fund aims at achieving the greatest possible growth of the Fund investments through distributing risks in a balanced way. It also aims at distributing biannual profits and investing in shares of Egyptian companies as well as investment instruments with fixed and changeable interest according to the investment policy.
The Fund applies policies that maximizes interests and reduces risks by diversifying investment and good choosing of shares and short and long term investment instruments with fixed and changeable interests. The Fund money will be distributed between instruments with fixed interest at a percentage of 60% which can be increased to 100%and international shares and deposit certificates at a percentage of 40% as a maximum investment limit in a guiding way that can be changed according to interest rates and shares interests.
|Owner of the Fund||The Agricultural Bank of Egypt|
|Date of Establishment||April 2008|
|Fund Volume||100 million Egyptian pounds divided into one million documents, the nominal value of the document is LE 100.|
|Fund Period||25 years starting from the date of giving the Fund a license to practice its activity by the institution.|
|Fund Type||A balanced open investment fund (shares, bonds, treasury bills, deposit certificates…, etc.) with an increasable volume aiming at achieving the greatest possible growth of the Fund investments, maximizing profits and reducing risks.|
|Who has the right of investment||Purchasing/subscribing in the Fund documents is allowed for Egyptians and foreigners; natural or legal persons.|
|Minimum subscription or purchase||5 documents and there is no maximum limit
The investor can deal with the Fund either through purchasing or redeeming with one document (after the first purchase process) provided that the balance is not less than 5 documents.
|Subscription or purchase applications||Purchase applications of new investment documents are received during all working days of the week attached with the purchase amount. Settlement is to be made on the following working day on the basis of the net declared value of the document on the day of submitting the purchase application.|
|Issuance or purchase fees||There are no fees or commissions on issuance or purchase.|
|Distributions for the Fund documents holders||The Fund can distribute biannual interest (in the light of the financial position of the Fund) and the Fund may distribute free documents if the redeeming value of documents exceeds their double nominal value.|
|Redemption applications||All branches of the Agricultural Bank of Egypt receive redemption applications of some or all investment documents from the same branch of subscription or purchase on the first working day of every week.
Any subscriber or his legal representative can redeem all or some of the owned investment documents, provided that the value of the redeemed document is repaid on the basis of the document share of the net market value of the Fund assets at the end of the working day of submitting the redemption application.
|Redemption fees||0.5% (half percent) of the redeeming value declared for the document on the day of submitting the redemption application.|
|Document price||The document price is published on the first working day of every week in a widespread daily morning newspaper.|
|Investment manager||Herms Group for Managing Investment Funds which has a long experience in the field of investments.|
|Fund managing services Company||Al Masreya for Management Services.|
- The Fund interests are tax exempted.
- The nominal value of the document is (100 pounds) at subscription
- It is an easy, guaranteed and low risk means of getting interests periodically.
- It is suitable for the small investor who wants to versify investments and to have good and correct choice of shares and investment instruments with short and long term fixed interest and short and long term changeable interest through professional management that reduces investment risks. It also provides an easy way of redeeming invested money.
- The Fund distributes biannual interest from the actual achieved interests according to the Fund activity in the form of free documents or cash distribution (according to the opinion of the investment manager based on the financial position of the Fund).
The First Phase: General Subscription:
- Subscription applications are received daily (within working hours) during the subscription period.
- Documents cannot be redeemed during the period of receiving subscription applications.
- The general subscription in El Masi fund was covered on 27/03/2008 with a coverage percentage of 152.8% for a number of documents of 1528358 with total paid values ofLE 152,835,800.
The Second Phase: Purchase and redemption processes:
First: Purchase of documents:
- Applications of purchasing the Fund investment documents are received till the end of working hours during all working days of the week on the basis of the document share of the net fund assets at the end of the working day on which the purchase application is submitted.
- There are no fees or purchase commissions.
Second: Redemption of documents:
- Redemption applications of some or all documents subscribed/purchased at the bank from which the documents were purchased are received on the first official working day of every week till 2:00 PM provided that the value of the documents to be redeemed are repaid within two working days from the date the redemption application on the basis of the document share of the net fund assets at the end of the day on which the redemption application is submitted.
- 0.5% (half percent) is deducted as a redemption commission.
Third: Distributions for holders of Fund documents:
- The Fund can distribute biannual interest (in the light of the financial position of the Fund) and the Fund may distribute free documents if the redeeming value of documents exceeds their double nominal value and the first coupon was distributed on 06/01/2011with the amount of 10 pounds.
El Masi Fund occupied the first rank at the level of balanced investment funds during 2012 by the assessment of MENA organization; an organization located in London and specialized in assessing investment funds as it achieved 33%revenues. This is the second time that the Diamond Fund gets this prize as it received it 2010.