Goddy Egene
FBNQuest Asset Management, a subsidiary of FBN Holdings recently launched the FBN Halal Fund in a bid to provide investors with investment options that improve financial inclusion and align with ethical beliefs. Regulated by the Securities and Exchange Commission (SEC), the FBN Halal Fund is an open-ended mutual fund designed to meet the needs of investors seeking long-term income generation, as it offers an opportunity for exposure to a broad range of fixed income Shariáh-compliant investments.
It offers a key benefit of providing flexibility and liquidity for investors with ease of entry and exit. Returns from the Fund will be distributed to unitholders semi-annually. In order to provide investors with confidence regarding strict adherence to Shariáh principles, the FBN Halal Fund will adopt a best practice approach with its governance structure through a Shariáh Advisory Council of Experts, an Investment Committee, a Custodian, and a Trustee.
Commenting on the product launch, the Managing Director of FBNQuest Asset Management, Ike Onyia, said: “The FBN Halal Fund will be actively managed under Islamic finance principles, a respected Shariáh advisory council of experts and our seasoned portfolio managers who are guided by valuable experience.”
“The fund was introduced based on the need to create value-driven connections with our clients. Being a member of one of the strongest and most dependable financial groups in Africa, our goal is to constantly provide a wide range of solutions to support the evolving needs of our partners, and the opportunities for diversification through this Fund further affirms our client-centric approach to service delivery,” he added.
