Manasek Islamic Fund - Al Baraka Capital

Manasek Fund is an open-ended investment fund that complies with the principles of Islamic Shariah. Its official name is "Al Baraka Capital First Daily Accumulative Return Investment Fund Compliant with Islamic Shariah with Hajj and Umrah Prize Draws - Manasek." The fund combines investment in Shariah-compliant fixed-income instruments with an additional feature that allows unitholders to participate in an annual draw for Hajj and Umrah travel prizes, making it one of the few investment funds that combines investing with incentive programs within a Shariah-compliant investment framework.

The investment policy of Manasek Fund is based on diversifying investments across Shariah-compliant fixed-income instruments, with the objective of growing investors' capital while maintaining an adequate level of liquidity to meet redemption requests. The fund invests in Islamic investment accounts, Islamic deposits, Islamic savings certificates issued by Islamic banks, cash liquidity instruments, sovereign Sukuk, sovereign bonds purchased from Shariah-compliant banks, corporate Sukuk, and units of Islamic investment funds.

These investments are subject to a number of investment limits and controls. The fund may allocate between 5% and 100% of its net assets to Islamic investment accounts, Islamic deposits, and Islamic savings certificates issued by Islamic banks, while investments in short-, medium-, and long-term cash liquidity instruments may not exceed 70% of the fund's net assets. In addition, the fund may invest up to 50% of its net assets in long-term sovereign Sukuk and up to 50% in long-term sovereign bonds purchased from Shariah-compliant banks.

The fund may also invest up to 40% of its net assets in corporate Sukuk with a minimum credit rating of BBB- or its equivalent, in accordance with the regulatory requirements, provided that investments in Sukuk issued by a single related group do not exceed 20% of the fund's net assets. Furthermore, the investment policy allows the fund to invest up to 50% of its net assets in Islamic savings certificates, subject to the regulations of the Central Bank of Egypt, and up to 30% in units of open-ended or exchange-listed Islamic investment funds.