Friday , September 24 2021

Al-Mal Bank – Emirates Bank Dubai Egypt launches "Mezid" fund with cumulative periodic return



Mohammed Pro: The fund provides an opportunity for existing and new customers to get the highest return

Hermes Fund Management manages Fund funds

Mohammed Salem:

Emirates NBD – Egypt, launched the Emirates Emporiki Bank Fund with the cumulative quarterly performance of "Mazid".

The bank stated in a statement that the fund is part of a plan aimed at diversifying banking products to meet customer needs and confirms its leading position in the Egyptian market by providing all available banking products that meet the needs of different customer segments . And investment.

EFG Hermes manages the new fund according to the Bank's specific indicators and investment indices and provides daily cash flow by calculating the daily return on capital invested with subscription and redemption in the Fund's daily documents.

The return on investment-related investment documents is added every day as an open-end fund investing in various short and high-liquid investment vehicles, including short-term debt securities such as accounts, treasury bills and bank deposits. The aim of this differentiation is to maximize yields with the highest liquidity and minimum risk and return on the value of the Fund's documents is added daily.

Mohamed Barro, Managing Director of Emirates NBD, said: "The Bank is always willing to offer everything that is new and respond to the needs of its customers and therefore has launched a cash investment fund for all customers investing on short-term debt securities, providing the highest possible return. "

"This fund starts for the first time at Emirates NBD – Egypt, a new offer offered by the bank to its customers, allowing them to invest freely in the fund and earn high returns in one," he added.

"The new Emirates NBD Fund is expected to attract a large number of retail and corporate clients as it allows flexibility to withdraw, deposit and receive returns on a daily basis. The bank launches the fund for the first time," The Fund aims to attract new customers in the bank and meet the requirements of its existing customers. "

"We are delighted to work with Emirates NBD, one of the leading banks, to start our first fund," said Karim Awad, CEO of EFG-Hermes. "The trust of the Bank in working with EFG-Hermes confirms our leadership and our ability to offer a wide range of investment instruments on the market," he said.

"The Egyptian market is full of promising opportunities and we see great potential for the mutual fund market," said Awad, "We look forward to providing more successful investment tools to our partners."

The Bank allows its clients to invest in the Fund by transferring the required amount of the investment from the client to a number of investment documents (units) based on the value of the unit declared by the Bank to its clients on a daily basis.

The minimum registration of the documents will be 25 LE 1000 document documents for the document, which will be open from 13 November 2018 for two months ending 13 January 2019. Registration may be closed after ten days from the start date of registration if all the documents presented are covered.

The value of the documents to be recovered based on the share of the document may be determined by the net market value of the Fund's assets in accordance with the valuation declared on the same day as the takeover bid and calculated on a closing basis According to the formula refers to the periodic evaluation point in the detailed prospectus, which is announced daily to the branches of the Bank, the value of the documents to be redeemed is deducted from the assets of the Bank chloride Capital the same day purchase.

The NBR Emirates Investment Fund is characterized by a low risk index as the asset classes in which the Fund invests are extremely secure The value of the unit is evaluated on a daily basis and with the accumulation of returns earned the next day the clients can receive daily subscription The investment fund can also recover their units daily, which is an added benefit the Fund provides to its clients.

Bank customers can communicate and register through the bank's branches. You can also ask about the benefits of the fund and daily returns through the Bank's Call Center or through the bank's online banking services.


Source link