Arab Finance: Acumen Holding has launched the IQtinas fund, its first investment fund combining equities and fixed-income instruments, with a minimum subscription of just EGP 10, as per an emailed press release on October 4. 

Subscription to the fund is set to open on October 6, following the completion of the required regulatory approvals.

The fund aims to enable investment with small amounts under professional management to adjust the portfolio allocation between equities and fixed-income instruments based on market conditions.

Under the investment policy, up to 90% of its assets can be invested in stocks listed on the Egyptian Exchange (EGX) when valuations and market opportunities are considered attractive.

The fund can also reduce its equity exposure and allocate up to 90% of its investments to fixed-income instruments, including treasury bills (T-bills), when market risks increase.

The price per policy has been set at EGP 1, with a minimum subscription of 10 policies. IQtinas targets an initial size of EGP 10 million, with the potential to increase to EGP 250 million based on buy orders.

Meanwhile, IQtinas is being offered through a private placement to clients of four securities firms: Acumen Securities Brokerage, Mubasher Trade, Thndr Securities Brokerage, and Telda Securities Brokerage.

The subscription period will range from 10 days to two months, although the offer may close after five days if it is fully subscribed.

Following the subscription period, investors will be able to purchase and redeem fund units daily, with redemption processed on Sundays and Wednesdays. The fund will not charge purchase or redemption commissions.