MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

United Arab Emirates / Egypt
Exchange Traded Funds
Questions United Arab Emirates Egypt
Name of regulatory body Securities & Commodities Authority Egyptian Financial Supervisory Authority
(EFSA) and Central Bank of Egypt
(CBE)
Available fund/legal structures Open –ended Mutual Funds
Exchange Traded Funds
Categories of regulated funds Open ended mutual funds
Public and Private Mutual Funds
Marketing
Local and foreign Funds
Average set-up time Regulatory approval indicated to
be 3 weeks after submission of
complete documents
Documentation
Basic documents required to set up
fund
Domestic Fund Documents
Cover letter requesting the licensing
of the fund
SCA template detailing the main Fund
features / characteristics
2 Original stamped copies of the
Fund Prospectus stamped by the
legal advisor for the Fund
Summary of the prospectus
Investment Manager Agreement
Custodian Agreement
Prospectus
Investment manager
contract
Decision structure and
resumes of personnel
Internal Auditor
Other parties’ contracts
(custodian, administrator,
brokerage)
Last financial report for the
fund (if applicable)
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