Misr Takaful Fund (MTF)

Kazem Ramadan
Modified on: Thu, 8 Jun, 2023 at 11:15 AM

What is the Misr Takaful Fund?

MTI Shariah Fund is an open-ended, money market fund that offers daily Subscription and daily redemption. The fund invests mainly in Egyptian T-Bills designated as Shariah-compliant by an internal committee led by Dr. Ali Gomaa, the former Grand Mufti of Egypt.

What does MTI Shariah Fund invest in?

The fund invests in low-risk instruments, including up to 90% in Egyptian T-bills and 49% in Egyptian T-Bonds. It also has the flexibility to invest in other shariah-compliant products after the Shariah Committee's approval.

  • The maximum weighted average of the fund's portfolio is 150 days

  • The maximum fund investment period is 396 days

How can I buy & sell certificates?

  • Download the Thndr app and open an investment account.
  • Fund your account — click here to learn more about how to fund your account.
  • Search for “MTF” on the app and subscribe to the fund with the amount you would like to invest with.

Orders are executed based on the certificate price of the day:

  • If you place your order before 10 AM, your order will be executed on the price of the day you place your order.
  • If you place your order after 10 AM, your order will get executed the following day, on the price of the following day.

How does the return get recognized?

Everyone who invests in the fund owns certificates issued by this fund. These certificates give everyone the same mix of investments in the same proportion. As the fund's value as a whole rises or falls, each person's certificate value will go up and down with it. Return is compounded daily and the fund returns are tax exempted.

More about the Shariah Committee

In order for the fund to have the Shariah-compliant stamp, an internal Shariah committee needs to be hired in accordance with the FRA regulations. This includes that members should be part of the certified members list of the FRA Shariah Supervisory Committees.  

What are the risks?

The fund is exposed to various types of risk like interest rate risk and liquidity risk. The fund manager typically manages these risks by diversifying the fund's investments across different asset classes and maturity ladders that match the liquidity and nature of money inside the fund. 

More about the fund manager

The fund is managed by Arab African Investment Management (AAIM). AAIM has over 13 years of experience and more than EGP 12.4 B of assets under management over different asset classes.

More about the fund owner

The fund is owned by Misr Takaful Insurance. Misr Takaful Insurance is one of the subsidiary arms of Misr Insurance Holding Company, Egypt’s largest insurance company that has a portfolio of over EGP 60 B.

More Information

The “Subscription Note“: A tell-all document that includes all information about the fund. 

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