HC Monitors Performance of Its Seven Mutual Funds – Growth Rates of Most Funds Exceed 21% in Seven Months, Considerable Increase in Prices of Certificates

July 31st, 2009 – This July, the seven mutual funds managed by HC achieved high growth rates. The funds continued their superior performance, maintained their targeted growth rates, and achieved rewarding returns to certificate holders. The latest report by HC indicated considerable increase in the returns of the seven funds as well as continuous rise in prices of certificates in July compared to June.

Growth rates year to date exceeded 21% for most of the funds managed by HC confirming the firm’s ability to utilize investment policies wisely and manage the funds’ resources to achieve highest yields for certificate owners. This performance came at a time when all domestic and international stock exchanges witnessed a state of instability attributed to the global financial crisis that still bears an effect on all markets.

The report released by HC revealed record growth rates for July benefiting from the relative increases witnessed by the stock exchanges during the past weeks. The report revealed that Banque Misr Fund No. 4 (Al Hesn), a fund that operates according to principles of Islamic Shari’a, recorded the highest growth rates from the beginning of the year until last July. Its growth rate reached 27.45% compared to 21.5% during June while the price of its certificate reached EGP 81. 37 and the distributed dividends reached EGP 20 since the fund’s inception.

The report indicated that Suez Canal Bank Fund No. 1, an Equity fund, also continued its good performance and managed to achieve growth rates of 25.29% during the first seven months of thisyear compared to 23% year to date till June. It pointed out that the certificate price increased to EGP 291.83 compared to EGP 286.41 during last June and the dividends reached EGP 20 since the fund’s inception.

Export Development Bank of Egypt Fund No. 1(Al Khabir), also an Equity Fund, was one of the funds that achieved the highest returns of 22.51% by the end of July recording an increase of more than 5% compared to June returns This growth rate contributed to an increase in the certificate price reach EGP 75.98 compared to EGP 72.73 since last June. The dividends distributed reached EGP 38 since the fund’s inception, as well as two free of charge certificates.

The report indicated that Misr Iran Development Bank Fund No. 1, an Equity Fund managed to achieve high growth rates during last July. Its returns reached 21.14% since the beginning of the year compared to 19.01% until June of this year. The certificate price increased to EGP 349.75 by the end of July recording an increase of EGP 6 compared to June and the distributed dividends reached EGP 120 since the fund’s inception.

As for Banque Misr Fund No. 3 (formerly Exterior), an Equity Fund, it achieved returns until the end of July amounting to 21.12% compared to 16.8% until the end of June recording a growth increase close to 5% in one month. The certificate price increased to EGP 390.95 and the distributed dividends reached EGP 75 since the fund’s inception.

According to the report issued by HC, the National Bank of Egypt Fund No. 3, a balanced fund, achieved 2% growth rate. The fund’s returns since the beginning of the year until late July reached 11.64% compared to 9.6% till last June. The certificate price reached EGP 77.57 recording an increase close to EGP 2 in one month. The report indicated that the dividends distributed since the beginning of the fund’s activities reached EGP 25.5.

Misr Iran Development Bank Fund No. 2, a Money Market fund, achieved an annual yield amounting to 8.59 % since the beginning of the year. The distributed dividends since the fund’s inception reached EGP 333.713. The certificate price increased today to more than EGP 1006.5. The report pointed out that the annualized yield achieved during the first seven months of the year was better than that achieved last year which reached 8.42%.