FBNQuest has finally launched FBN Halal Fund in its drive to provide investors with investment options that improve financial inclusion and align with ethical beliefs.
FBNQuest Asset Management, is a subsidiary of FBN Holdings .
Regulated by the Securities and Exchange Commission (SEC), the FBN Halal Fund is an open-ended mutual fund packaged to attend to the needs of investors looking for long-term income generation, as it provides an opportunity for exposure to a broad range of fixed income Shariáh-compliant investments.
The Fund is said to have a key benefit of providing flexibility and liquidity for investors with ease of entry and exit. Returns from the Fund will be distributed to unit holders 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.
Speaking on the product launch, Ike Onyia, the Managing Director of FBNQuest Asset Management stated that “The FBN Halal Fund will be actively managed under Islamic finance principles (faith-based Investment), a respected Shariáh advisory council of experts and our seasoned portfolio managers who are guided by valuable experience”.
“The Ethical 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.