Get ready to start your journey with AZN, a new investment product by Azimut and Nasser Social Bank, offering a low-risk, Sharia-compliant savings fund right at your fingertips on Thndr.
Let’s get into everything you need to know about AZN!
What is AZN and how does it work?
AZN is a low-risk, Sharia compliant, savings fund designed to provide returns through strategic investments in short-term fixed income instruments. It aims to generate higher returns compared to conventional bank deposits and savings accounts, all while adhering strictly to Sharia principles.
Who manages the AZN fund?
AZN is managed by Azimut Egypt which is one of the largest asset management companies in Egypt with over two decades of experience and assets under management exceeding EGP 17 Billion, AZN benefits from unparalleled expertise in asset management.
Azimut Egypt, the local investment arm of Azimut Group, operates globally across 18 countries and manages approximately USD 70 billion across various asset classes.
The fund operates under the guidance of a distinguished Sharia board comprising esteemed scholars such as Dr. Shawki Ibrahim AbdelKarim Allam, the current Grand Mufti of Egypt, along with Dr. Osama Mohamed Hassan Al-Abd and Dr. Othman Ahmed Othman Ahmed.
They all ensure that all investment activities align impeccably with Islamic Sharia principles.
What does AZN invest in?
AZN strategically allocates its assets into fixed income instruments within predefined limits.
These allocations are meticulously managed to optimize returns while mitigating risk.
You can read more about the fund’s investment guidelines and limits in the fund prospectus here.
Why Invest in AZN?
- Sharia-Compliant: AZN stands out as a sharia-compliant equity fund on Thndr, providing an effortless way to invest in compliant stocks.
- Expert Management: Backed by Azimut Egypt, AZN benefits from professional expertise and a track record of managing billions of dollars globally
- Low Risk: AZN offers investors a low-risk investment. By focusing on short-term fixed income instruments, the fund aims to mitigate market volatility and minimize exposure to fluctuations in the stock market.
What are the risk factors for Investing in AZN?
While AZN offers a low-risk investment avenue, it’s essential to consider potential risk factors such as:
- interest rate risk
- credit risk
- liquidity risk
The fund manager diligently manages these risks through diversified investments.
When can I buy and sell AZN?
AZN is considered a liquid investment that offers daily subscription and redemption.
- Subscription: You can start buying AZN certificates daily at 11:00 AM at a minimum amount of 2 certificates
- Redemptions: There is no minimum amount and the process occurs daily at 11:00 AM.
Buy and sell orders placed before 11:00 AM are executed on the same day, while those after 11:00 AM are processed on the next working day at the new day’s certificate price.
How can I invest in AZN?
To initiate your order:
- Open Thndr
- Search for AZN or find it under the mutual funds theme in the Explore tab.
- Tap on AZN.
- Select Buy and set the desired amount of certificates or investment.
- Minimum buy order consists of 2 certificates.
What are the fees for investing in AZN?
AZN imposes no fund fees. However, a nominal service fee of EGP 2 plus 0.1% is applicable on every buy and sell order.
Ready to invest in AZN on Thndr?
AZN awaits your investment, providing a secure, Sharia-compliant avenue for growing your savings. Begin your investment journey today on Thndr, where simplicity meets opportunity.
Curious about other Sharia-compliant investment options? Discover more about Misr Takaful Fund, NMF, and AZG Fund on Thndr!
If you have any further questions about AZN, you can always contact our support team!
