Marble Capital provides N500 million in halal fixed income fund

The N500 million Marble Halal Fixed Income Fund (MHFIF) is an investment opportunity being provided by Marble Capital Ltd., a leading ethical and Islamic fund manager.

In a statement released on Wednesday in Lagos, Dr. Akeem Oyewale, the managing director of Marble Capital, said the investment opportunity was for conservative investors who were looking for a consistent income.

Oyewale stated in its prospectus that MHFIF was an open-ended unit trust scheme that placed a premium on investments in Sukuk Bonds and other Shariah-compliant debt and fixed income instruments. It was offered at N100 per unit at par, according to the prospectus.

The holding period for an investment in the Fund, according to him, was 90 days under the Initial Public Offering (IPO), even though electronic statements would be sent to unit holders as proof of ownership.

“The Marble Fixed Income Fund presents a number of attractive investing opportunities.

“The product, which may be obtained with a N10,000 minimum investment, has chances for capital preservation.

“It is Shariah compliant, with minimal risk, diversification opportunities, highly liquid, and capacity for competitive returns, thus making it a distinct choice for investors seeking both profit and ethical alignments,” he said.

According to Oyewale, the fund’s ongoing creation of new units independent of its initial sale throughout its existence is another distinctive aspect.

He says that in accordance with the trust deed’s rules, investors may redeem units of such a fund.

In accordance with current regulations, and subject to profits being realised, the fund will attempt to deliver net income to unit holders semi-annually in arrears.

He stated, “The fund manager shall determine the income of the fund, net of expenses, to be distributed on a periodic basis in the best interest of the unit holders in accordance with the prospectus.

The company’s renowned N3 billion Marble Halal Commodities Fund (MHCF), which is based in the agro-economic and extractive sectors, was established in April, according to OBASANJO NEWS24.

First commodities mutual fund in Nigeria to receive SEC approval is the MHCF.