Table of Contents
What is Beltone Wafra (BWA) ?
Beltone Wafra (BWA) is an open-ended fund that invests in the EGX 33 Shariah index.
It is open for daily subscription and redemption, established by Beltone Asset Management with the approval of the Financial Regulatory Authority (FRA).
You can read more about the fund’s investment guidelines and limits in the fund prospectus here.
What is the EGX 33 Shariah Index?
The EGX33 includes 33 local firms, all of which are already listed in the EGX100.
The companies included in the index must not violate Islamic Law, such as the sale of alcohol, pork, or cigarettes etc.
The 33 companies listed on EGX33 represent 16 different sectors, and the relative weight of any company cannot exceed 15 percent of the index.
Subscription details
Subscription start date: 31 July 2024
Subscription end date: 3 September 2024 or if all certificates are sold
Number of certificates: 9,800,000 certificates
Certificate price: 1 EGP
Minimum Order: 10 certificates
How do I subscribe?
- Launch the Thndr app and click on “Explore”
- Search for “Beltone Wafra” or find “BWA” under the mutual funds theme through your explore tab.
- Tap Beltone Wafra (BWA)
- Tap on “Buy”
- Set the amount of certificates or amount of money you would like to subscribe with. There is a minimum of 5 certificates for any buy order.
Buying & Selling
If you place your order before 11AM:
Your order will be sent to Beltone on the same day but executed the next day at the new certificate price.
If you place your order after 11AM:
Your order will be sent to Beltone the next working day and executed the day after at the new certificate price.
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.
You can see our full fee schedule here
Who manages Beltone Wafra ?
Beltone Wafra (BWA) is managed by Beltone Asset Management, a subsidiary of Beltone Financial.
Beltone Asset Management is a Leading Asset Manager in Egypt with Assets Under Management amounting to EGP29.4 billion as of March 2024.
What are the investment rules for Beltone Wafra ?
The fund’s assets are invested according to the following rules:
- 90% of the fund must be stocks within the EGX33 Shariah index.
- No more than 15% of the fund’s assets can be invested in the shares of a single company, and this investment should not exceed 20% of that company’s shares.
- No more than 20% of the fund’s assets can be invested in the investment certificates of a single fund, and this investment should not exceed 5% of the total certificates of that fund.
- Investments in securities issued by a related group should not exceed 20% of the fund’s assets.
- Trading in the same session should not exceed 15% of the fund’s daily trading volume.
What are the risks?
Beltone Wafra (BWA) is an equities-focused fund that invests in the EGX33 Shairah index. This makes it a high risk/high return fund.
Some risks associated with equity funds:
Liquidity Risk: Sometimes, the investment manager might not be able to buy or sell all the shares they want because there isn’t enough money available. This can make it hard to handle large redemptions.
Index Changes: The list of shares in the fund might change. Some shares might be removed and new ones added. The investment manager will sell the shares that are removed and buy the new ones based on market prices.
The stock market is subject to economic and political risks.
For a detailed overview of risk factors please visit the fund prospectus here.
