| Pioneers Funds® will offer for its clients its first open-ended fund through a public offering in which investors can subscribe for their desired number of shares. |
| The fund would be initially issued with a paid-up capital of EGP 50 million, of which EGP 5 million will be contributed by Pioneers Funds®. The size of the fund is increasable in the future, given that it does not exceed 50 times the initially paid-up capital.
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| The life of the fund would be 25 years and would offer its clients cumulative returns while allowing them to buy or redeem shares daily during the life of the fund. At redemption or at the maturity of the fund, investors are eligible for the nominal value of the shares in addition to the respective accumulated earnings. |
