CI EGX30 Capped (CI30)
What is it?
Misr Equity Fund is fund managed by CI Capital Asset Management (CIAM). The fund aims to track the EGX 30 Capped index performance.
What is the EGX 30?
The EGX 30 tracks the top 30 companies based on criteria set by the Egyptian Stock Exchange including market capitalization and liquidity.
Companies included in the EGX 30 are usually those with strong institutional backing from global investors, sold fundamentals and solid growth plans.
Why is this fund capped?
CIB represents almost 40% of the EGX 30, along with TMGH which represents 18%. This means that the performance of COMI & TMGH will always heavily influence the performance of the EGX30 index.
This is where this fund comes in - it caps the weight per company at 15%. This means that the fund is truly diversified.
How do I subscribe?
- Login to your Thndr account and click on “Explore”
- Search for “CI30” or find “CI30” under the mutual funds theme through your explore tab.
- Tap the CI EGX30 Cap Fund
- Tap on “Buy”
- Set the amount of certificates or amount of money you would like to subscribe with
Subscription is daily (meaning you can buy more certificates on a daily basis).
Place your buy order before 9AM and it will be executed within 1 working day at the new certificate price. Orders placed after 9AM are executed within 2 working days at the new certificate price.
Place your sell order before 9AM, and it will be executed on the final day of the week. Sell orders placed before 9AM take 1 working day to execute.
A few subscription details:
- Last day of subscription: 1 December 2022
- Minimum subscription order: 10 certificates
- Subscription certificate price: EGP 10
- CIAM has the right to close subscriptions early once they have raised EGP 25M
How do I redeem?
During the subscription period, you will only be able to cancel your order.
After the subscription period, you can place sell orders through the app:
- Search for CI30
- Tap the CI EGX30 Cap Fund
- Tap on "Sell"
- Set the amount of certificates or amount of money you would like to redeem
Redemption is weekly, meaning you can place your sell order and it will be executed on the last working day of the week (the cut off time for placing orders is 12pm on the last working day of the week).
What are the risks?
CI EGX30 Cap index fund is an equities focused fund which makes it a high risk / high return fund. The stock market is subject to economic and political risk. There are also risks associated with the price of a specific security because of its characteristics. The fund mitigates these risks through diversification in different asset classes and sectors, investing in securities that constitute the EGX 30 and capping the exposure to each security to 15%. The EGX 30 constitutes of the largest and most liquid 30 listed companies as per the FRA and EGX standards. To learn more about other risks, here is a link to the prospectus.
Who is CI Capital Asset Management?
CI Capital Asset Management (“CIAM”) is a subsidiary of CI Capital Holding which is owned by Banque Misr the second largest government-owned bank. CIAM is currently the largest asset manager in Egypt with AUMs double that of its second-largest.