Crédit Agricole Egypt’s Mutual Fund Number 2 is an ideal way to invest in the Egyptian stock market to achieve your medium-to-long term investment objectives with more reliance on capital appreciation.
Fund Objective
The overall objectives of Crédit Agricole Egypt’s Mutual Fund Number
2 are:
- Capital appreciation
- Income
Benfits & Featurs
-
Growth and income equity fund
- Potential for higher returns compared to other investment products
- Low minimum investment
- Minimized risk through a diversified portfolio invested in the stocks and bonds of the best performing companies in the best performing sectors of the Egyptian economy
- Investment strategy can be considered more aggressive than Crédit Agricole Egypt’s Mutual Fund Number 1.
This is because Crédit Agricole
Egypt’s Mutual Fund Number 2 can maintain a higher percentage of stocks and foreign securities than mutual fund number 1
- Excellent liquidity for investors through weekly redemption of investment certificates (ICs)
- Issuance fees of 0.5% and 0.75% redemption fee
- Minimum subscription is 5 ICs
- Minimum balance of IC’s to be kept at any point of time is 5 ICs
- Free custody for ICs purchased (optional service)
- An account with Crédit Agricole Egypt is required for Mutual Fund purpose [Can not be used for other bank services]
- Professional management by Hermes Fund Management Group
Investment Policy
The fund manager can invest in:
- Stocks up to a maximum of 95% of the fund’s assets.
- Corporate bonds up to a maximum of 60%.
- Foreign securities up to 95%.
- Short-term near-cash instruments with a 10% minimum is mandatory.
View the latest quarterly reports of Crédit Agricole Egypt’s Mutual Funds
Check the latest Crédit Agricole Egypt Mutual Fund Number 2 performance snapshot
Fund Manager
Hermes Fund Management Group (HFM) is a fully owned subsidiary of EFG-Hermes Group. The group was formed in 1996 after the merger between Egyptian Financial Group and Hermes. EFG-Hermes SAE was floated on the Egyptian Stock Exchange and the London Stock Exchange in 1998. The Asset Management unit manages 19 local and offshore funds, with total assets of approximately USD6.5 billion, as of December 31st 2007.
Fees
Subscription Fee
A subscription fee of 0.5% of the market value of the ICs bought
is charged. Clients may submit their orders on any day, However, the execution of client orders takes place once a week on Sunday from 8:30 A.M. to 12:00 Noon at the fund’s NAV on that day.
Redemption Fee
A redemption fee of 0.75%% of the value of the ICs redeemed is charged. Again, clients may submit their sell orders on any day. However, the execution of client orders takes place once a week on Sunday from 8:30 A.M. to 12:00 Noon at the fund’s NAV on that day.
Free Bookkeeping and Custody
Crédit Agricole Egypt provides free bookkeeping and custody services for ICs issued. This service is optional.
How to Apply
Visit any Crédit Agricole Egypt branch located throughout Egypt.
For more information
Call or visit your nearest Crédit Agricole Egypt branch.
Disclaimers
Crédit Agricole Egypt reserves the right to change any information or requirements mentioned above without prior notice. In the purchase of mutual fund ICs, the client declares that he or she has reviewed and accepted the terms and conditions indicated in the fund’s prospectus and accepts all risks associated with the investment. He or she declares that an independent decision has been made to invest in the fund.
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