The fund provides a daily return by collectively investing in liquid short term investment pools.
The main aim of the fund is providing the client with a relatively good return compared to normal bank accounts as well provide the benefit of daily liquidity.
Features
- EGP denominated
- Invests exclusively in money market type instruments:
- EG Government T-bills and T-bonds
- Time deposits and CDs
- Other EGP Money Market funds(max 10% of assets)
- Aims at an annual return close to the yield of Egyptian Government Treasury Bills (currently 8.5% after tax)
- Dividends reinvested internally
- Tax exempt
- Daily subscription and redemption, no charges
- Initial subscription period: 21 April 2009 to 14 May 2009
- Issue price at subscription: EGP 10
- Minimum investment: 50 shares
- Fund at inception: EGP 200 million
- Management fees: 0.25% p.a.
- Bank fees: 0.25% p.a.
- Fund Manager: Phoenix Kato Asset Management (Piraeus Bank Egypt Asset Management subsidiary)
Subscription
Subscription is available in all our branches.
Today's ABK-Egypt Money Market Fund Price: