Azimut Nasser Fund (AZN)

Bassel Selwanes
Modified on: Wed, 5 Jun, 2024 at 5:16 PM

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TABLE OF CONTENTS


What is AZ-Nasser (AZN)?

 

AZ-Nasser (AZN) is a fund by Azimut and Nasser Social Bank, it is a low-risk, Sharia compliant, savings fund. 


It provides returns through investing in short-term fixed income instruments.


Its focus on liquid investments allows you to buy and sell certificates daily.


The fund has been active since March, 2023.


How does AZ-Nasser (AZN) ensure compliance to the Islamic Sharia?


AZ-Nasser (AZN) is Sharia compliant and adheres to investment guidelines established by the appointed Sharia board consisting of:

  • Dr. Shawki Ibrahim AbdelKarim Allam - Current Grand Mufti of Egypt
  • Dr. Osama Mohamed Hassan Al-Abd 
  • Dr. Othman Ahmed Othman Ahmed

 

What does AZ-Nasser (AZN) invest in?

 

AZ-Nasser (AZN) invests in fixed income instruments with the following limits:


 


*percentage denotes maximum % of fund assets invested in a single instrument.

 

 

You can read more about the fund’s investment guidelines and limits in the fund prospectus here.


For the latest fund news please visit this link


Who manages Azimut-Nasser (AZN)?

 

Azimut-Nasser (AZN) is managed by Azimut Egypt which is one of the largest asset management companies in Egypt with over 20 years of experience and whose Assets Under Management exceed EGP 17 Billion. 


Azimut Egypt is the local investment arm of Azimut Group which operates in 18 countries around the Globe and manages around USD 70 billion in different asset classes.


Buying & Selling 

 

Buy and sell orders made before 11:00 AM will be executed on the same day.


Buy and sell orders made after 11:00 AM will be executed the next working day, on the new day’s certificate price.



Steps to place your order

  • Open the Thndr app 
  • Search for Azimut Nasser or (AZN) or find it under the mutual funds theme through your Explore tab. 
  • Tap on “Azimut Nasser”
  • Tap on Buy
  • Set the amount of certificates or the amount of money you would like to invest. There is a minimum of 2 certificates for any buy order. 


Fees


There are no fund fees. There is however, a service fee of EGP 2 + 0.1% on every buy and sell order as applicable.


What are the risk factors of investing in Funds?

 

Risk factors related to these types of funds are:

  • Interest rate risk 
  • Credit risk
  • Liquidity risk


The fund manager tries to avoid these risks by diversifying the investments. For a detailed overview of risk factors please visit the fund prospectus here.

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