Nigeria: Norrenberger launches Islamic ethical fund

Published 23 Feb,2021 via The Nation - Norrenberger, a financial services group, has launched its Islamic fund, an ethical investment vehicle aimed at meeting the diversified investment needs of clients in alignment with ethical beliefs and practices.

The Norrenberger Islamic Fund is registered by the Securities and Exchange Commission (SEC) and it is an open-ended mutual fund designed to provide investors with a low-risk investment option with stable and competitive returns in short, medium, and long term.

Application list for the ethical mutual fund opened yesteday and would close on March 31, 2021.

Managing Director, Norrenberger Investment and Capital Management Limited, Mr Tony Edeh said the fund was targeted primarily at investors who have a short, medium to long-term investment horizon with a consciousness for belief in the Shariah principles and are seeking higher returns than the typical Shariah fixed-deposits, but averse to the risks associated with directly investing in equity.

According to him, the fund will invest in Shariah-compliant securities, whilst also ensuring preservation of capital and maintenance of liquidity.

He assured that subscribers can expect halal profits on the growth of their capital over the long-term in accordance with the principles of Islamic finance noting that the fund is part of the company’s strategic efforts to improve financial inclusion in Nigeria.

“The objective of the fund is to provide investors with the opportunity to invest in a professionally managed portfolio of Shariah-compliant assets. I am confident in our team of highly qualified and experienced financial advisors to guide our clients on the right path to financial freedom,” Edeh said.

He outlined that Norrenberger Group has the capacity to meet and exceed clients’ expectations with its various subsidiaries dealing in comprehensive range of financial products and services including investment banking, asset management, venture capital, financial advisory, structured finance and securities trading.

All the component companies in Norrenberger are licensed and regulated either by the Securities & Exchange Commission (SEC) or the Central Bank of Nigeria (CBN).

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