Marble Capital Limited, a prominent ethical and Islamic Fund Manager in the Nigerian financial market, has launched the Marble Halal Fixed Income Fund (MHFIF) worth N500 million. This offering provides an investment opportunity for risk-averse investors who seek steady income while adhering to ethical and Shariah-compliant principles.
MHFIF is an open-ended unit trust scheme designed to prioritize investments in Sukuk Bonds and other Shariah-compliant debt and fixed income instruments. The fund offers 5,000 units of Marble Halal Fixed Income Fund at N100 per unit at par, as stated in its prospectus.
During the Initial Public Offering (IPO), the holding period for an investment in the fund is set at ninety (90) days. Unit Holders will receive electronic statements to serve as proof of ownership.
Akeem Oyewale, the Managing Director/Chief Executive Officer of Marble Capital Limited, highlighted the attractive features of the Fixed Income Fund. The product requires a minimum investment of N10,000, with prospects for capital preservation and minimal risk. It aligns with Shariah principles and offers diversification opportunities, high liquidity, and the potential for competitive returns.
Oyewale emphasized that these benefits contribute to positive impacts while enabling financial growth in alignment with ethical values. He described the fund as a distinct choice for investors seeking both profitability and ethical alignment, especially with its potential to hedge against market volatility.
Another notable feature of the Fixed Income Fund is its continuous creation of additional units separate from the initial offering throughout its lifespan. Investors can redeem units in accordance with the provisions of the Trust Deed.
The fund intends to distribute net income to Unit Holders semi-annually in arrears, subject to profits realized and in line with existing regulations. The distribution of income, net of expenses, will be determined by the Fund Manager in the best interest of the Unit Holders, according to the prospectus.
Earlier this year, in April, Marble Capital launched the Marble Halal Commodities Fund (MHCF) worth N3 billion, which focuses on the agro-economic and extractive sectors. The MHCF, the first SEC-approved commodities mutual fund in Nigeria, has further solidified Marble Capital’s reputation in the financial market for its unique service offerings and emphasis on ethical investments.