Morocco Equity Fund (OPCVM Actions) Simulator — net return projection

A Moroccan equity fund (OPCVM actions) invests in shares listed on the Casablanca Stock Exchange, offering the highest long-term growth potential of all Moroccan savings products — with corresponding market risk. Our simulator projects your net capital after the 20% capital gains tax over any horizon up to 50 years.

Equity fund vs direct BVC shares

An equity fund provides instant diversification managed by professionals — suitable if you don't want to pick individual stocks. Direct Casablanca Stock Exchange shares give more control and a slightly better tax rate (15% vs 20% for funds). On a 10+ year horizon, both typically outperform fixed-income products significantly. Try our comparator to see the difference.

Who should consider an equity fund?

Equity funds suit investors willing to accept short-term volatility in exchange for higher long-term returns over 5 years or more. They are ideal for working-age adults preparing for retirement or a long-term project, without having to select individual stocks listed on the Casablanca Stock Exchange. Professional management provides immediate diversification across MASI constituents and, depending on the fund, eligible international equities.

How to invest in an equity fund in Morocco?

Subscribe through your bank or directly with an AMMC-licensed asset manager. Leading equity fund managers include Attijari Asset Management, BMCE Capital Gestion, CDG Capital Gestion and Wafa Gestion. Check the total expense ratio — Moroccan equity funds typically charge 1.5%–2.5% per year — and compare rolling 3-year and 5-year performances published on the AMMC website. A minimum investment horizon of 5 years is strongly recommended to ride out market cycles.

What is an equity fund (OPCVM actions) in Morocco?
An OPCVM actions invests at least 60% of its assets in shares listed on the Casablanca Stock Exchange. It offers exposure to Moroccan equity markets with automatic diversification, managed by an AMMC-licensed asset manager. Capital is not guaranteed.
What return can I expect from a Moroccan equity fund?
Moroccan equity funds track the MASI index. Over the long term (10+ years), the MASI has averaged around 6% to 8% per year. In 2025 the MASI rose over 26%. Short-term returns can be negative. These are historical averages — not guaranteed.
What is the tax on equity funds in Morocco?
Capital gains on OPCVM actions are taxed at 20% at redemption (Finance Act 2026), withheld at source. Dividends are also taxed at 20%.
Equity fund vs direct BVC shares: which is better?
Equity funds give instant diversification managed by professionals. Direct shares give more control and a better tax rate (15% vs 20%). Both outperform fixed income over 10+ years. Your choice depends on how actively you want to manage your investments.

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Sources: Casablanca Stock Exchange — MASI performance; AMMC — OPCVM regulation. Calculations are indicative — past performance does not guarantee future results.