Afrinvest unveils N2.5bn Sharia compliant fund

Following the recent approval by the Securities and Exchange Commission (SEC), we are proud to unveil the Afrinvest Halal Fund, an open-ended unit trust scheme offering 25 million units at N100 per unit, totaling a public offer size of N2.5 billion. The Fund which was unveiled yesterday is designed for investors who wish to grow […]

Following the recent approval by the Securities and Exchange Commission (SEC), we are proud to unveil the Afrinvest Halal Fund, an open-ended unit trust scheme offering 25 million units at N100 per unit, totaling a public offer size of N2.5 billion.

The Fund which was unveiled yesterday is designed for investors who wish to grow their wealth in accordance with Islamic principles.

The Fund adheres strictly to Shari’ah investment guidelines and is supervised by an Advisory Committee of Experts (ACE), a body comprising renowned Islamic scholars with both national and international experience.

The ACE issues a certificate of compliance annually, ensuring the Fund’s alignment with Shari’ah ethical standards.

Group Managing Director of the Afrinvest, Ike Chioke during the unveiling yesterday in Lagos stated that the Halal fund provided opportunities for diversification.

He said, “We are delighted to be launching this product because there is a latent market for ethical fund. As you saw from the recent issuance of the 7th series of the Sukuk fund by the federal government, the fund was launched for N300bn and the subscription was nearly N2 trillion.

“Clearly that tells you that there is a big demand for Sharia Compliant, faith-based investment options. So Afrinvest is joining this market to provide investors with the kind of investment they need.”

Chioke assured prospective investors that they can access their money anytime even before liquidation, adding that the Halal fund creates a window for investors to manage their investment in accordance with Sharia bonds.

 According to the assets manager, the Fund is targeted at all classes of investors especially investors with faith-based shariah principles for income generation.

Highlighting the benefit, Afrinvest said the Fund is not only timely but strategic, offering several key advantages including Shari’ah Compliance by providing access to investment opportunities that align with Islamic values — excluding interest based services, alcohol, gambling, weapons, pork, tobacco, and adult content.

It also provides for ethical Income Generation through profit-sharing and halal asset-backed investments while exposing investors to a mix of asset classes across compliant sectors.

“The Fund is open to all categories of investors – who seek ethical , interest-free investment opportunities.

The Fund is open-ended, offering flexible entry and exit. Subscribers may redeem their investment at any time after the 90-day lock-in period, with payouts processed within 5 business days,” the firm said.