SICAV Maroc Valeurs

NAV 4,056.7300 MAD

+56.560

+1.41%

20 Apr 2012

Performance Overview as of 20 Apr 2012

	Fund Return	Casa All Shares⁺
1 Month	- 6.33%	- 6.02%
3 Months	- 6.85%	- 6.99%
YTD *	- 5.73%	- 5.89%
1 Year	- 12.98%	- 13.23%
3 Years	+ 0.27%	- 2.35%
5 Years	- 18.98%	- 12.68%
Since Inception	+ 299.95%	- 5.37%

* Returns are from the beginning of the year until the respective 'As Of' Date

⁺ Benchmark Index

Ratio Analysis *

	Fund	Casa All Shares
Annualised Return It is a measure that converts rates of returns of any length into annual rates of returns	+ 8.41%	N/A
Annualised Standard Deviation It measures the volatility of the fund. The higher the percentage, the riskier is the fund	15.01%	N/A
Beta It measures how a fund's share price moves in relation to a benchmark. The benchmark index has a beta of 1. A beta greater than 1 means the fund tends to rise and fall more than the index does. A beta less than one means the fund tends to be less volatile than the index	N/A
Alpha It is the excess return of the fund relative to the return of the benchmark index. Simply, it is the value that a portfolio manager adds to or subtracts from a fund's return. A positive alpha of 1.0 means the fund has outperformed its benchmark index by 1%. Correspondingly, a similar negative alpha would indicate an underperformance of 1%	N/A
Information Ratio This ratio is used to evaluate the returns a fund manager achieved in comparison to the benchmark, given the risk they take on	N/A
Sharpe Ratio This ratio measures the reward per unit of risk. The Sharpe ratio tells us whether the returns of a portfolio are due to smart investment decisions or a result of excess risk. This measurement is very useful because although one fund can reap higher returns than its peers, it is only a good investment if those higher returns do not come with too much additional risk. The higher the ratio the better is the fund	0.28	N/A
Based on Risk Free Rate of %
* Formulas are available in the Education Center

Fund Facts

Objective		To achieve long term capital appreciation
Asset Type		Equity
Geographic Focus		Morocco
Currency		MAD
Structure		Open - Ended
Inception Date		March 1995
Initial Target Size		N/A
Fund Size 02Mar12		424,411,825 MAD
NAV Frequency		Weekly
Administrator		BMCE Capital Gestion
Fund Manager		BMCE Capital Gestion
Domicile		Morocco
Elligibility		Open to all investors
Zawya Code Zawya exclusive 7 digit code is used to locate a fund profile on the Funds Monitor through the search box		BMCSCMV.MF

Fees and Expenses

Min. Subscription
Dividend Policy
Administration Fee
Subscription Fee
Redemption Fee
Performance Fee
Custodian Fee
Management Fee
Fees Notes

Rankings
Provider	Rank	Report	Category	Date
Zawya			Morocco Equity	30Sep11
Zawya		-	Morocco Equity	30Jun11
Zawya		-	Morocco Equity	31Mar11
Zawya		-	Morocco Equity	31Dec10
Zawya		-	Morocco Equity	30Sep10
Zawya		-	Morocco Equity	30Jun10

Charts

NAV CHART

PERFORMANCE CHART

NAV (MAD) 20Apr12	4,056.7300
Change	56.560 ( 1.41%)
Previous Close 13Apr12	4,000.1700
12 Month High 03Jun11	4,804.0500
12 Month Low 13Apr12	4,000.1700

Investment Strategy

The fund's assets will be invested mainly in equities of companies listed on the Moroccan stock exchange. The fund may also invest to a lesser extent in fixed income, money market securities and other mutual funds.

Fund Material