Marble Capital Limited, frontline Ethical and Islamic Fund Manager, has opened offers for a N500 million Marble Halal Fixed Income Fund (MHFIF), an investment opportunity for risk-averse investors.
In a statement on Wednesday in Lagos, Dr Akeem Oyewale, Marble Capital’s Managing Director said the investment opportunity was for risk-averse investors with appetite for steady income.
Oyewale said by its prospectus, MHFIF, offered at N100 per unit at par, was an open-ended unit trust scheme that placed premium on investments in Sukuk Bond and other Shariah-compliant debt and fixed income instruments.
He stated that under the Initial Public Offering (IPO) the holding period for an investment in the Fund was 90 days though unit holders would be issued with electronic statements as evidence of ownership.
“The Marble Fixed Income Fund offers several compelling investment propositions. The product, accessible with a minimum investment of N10,000, has prospects for capital preservation.
“It is Shariah compliant, with minimal risk, diversification opportunities, highly liquid with capacity for competitive returns, thus making it a distinct choice for investors seeking both profit and ethical alignments,” he said.
The income of the fund, net of expenses, to be distributed periodically will be determined by the fund manager in the best interest of the unit holders
Oyewale said that another unique feature of the fund was that it continuously created additional units separate from its initial offering throughout its life.
According to him, investors can redeem units of such fund in line with the provisions of the trust deed.
“The fund will seek to distribute, semi-annually in arrears, net income to unit holders in line with existing regulations, subject to profits realised.
“The income of the fund, net of expenses, to be distributed periodically will be determined by the fund manager in the best interest of the unit holders according to the prospectus,” he said.
