• Tuesday, December 05, 2023
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Marble Capital eyes N500m from IPO of Halal Fixed Income Fund

Marble Capital eyes N500m from IPO of Halal Fixed Income Fund

With the introduction of Marble Halal Fixed Income Fund (MHFIF) worth N500 million by Marble Capital Limited, an investment opportunity has been unveiled for risk-averse investors with appetite for steady income. Marble Capital Limited is a frontline ethical and Islamic Fund Manager in the Nigerian financial market.

Marble Halal Fixed Income Fund is an open-ended unit trust scheme that places premium on investments in Sukuk Bond and other Shariah-compliant debt and fixed income instruments. By its prospectus, 5,000 units of Marble Halal Fixed Income Fund are offered at N100 per unit at par.

Under the Initial Public Offering (IPO), the holding period for an investment in the Fund is ninety (90) days. However, Unit Holders will be issued with electronic statements as evidence of ownership.

Read also: Marble-capital-launches-halal-commodities-fund

“The Marble Fixed Income Fund offers several compelling investment propositions. The product is accessible with a minimum investment of N10,000. It has prospects for capital preservation. It is Shariah compliant, with minimal risk, diversification opportunities, highly liquid with capacity for competitive returns.

“These benefits align financial growth with ethical values, contributing to positive impacts. It is Sharia-compliant with strong potential to hedge against market volatility. This makes it a distinct choice for investors seeking both profit and ethical alignments,” said Akeem Oyewale, Managing Director/Chief Executive Officer, Marble Capital Limited.

Read also: United-capital-launches-global-fixed-income-fund

Another unique feature of the Fixed Income Fund, he noted is that it will continuously create additional units separate from its initial offering throughout its life. Investors can redeem units of such a 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.

Marble Capital had in April this year launched its famous N3billion Marble Halal Commodities Fund (MHCF), domiciled in agro-economic and extractive sector. The MHCF is the first SEC-approved commodities mutual fund in Nigeria.

The Company has continued to distinguish itself in the Nigerian financial market through superior service offerings and unique customer experience with emphasis on ethical investments, amongst others.