Norrenberger launches Islamic Fund
Subscribers can expect halal profits on the growth of their capital over the long-term in accordance with the principles of Islamic finance.
Norrenberger, a leading financial services Group has launched its Islamic Fund, an ethical investment aimed to meet the diversified investment needs of clients in alignment with ethical beliefs and practices.
The Norrenberger Islamic Fund, registered by the Securities and Exchange Commission (SEC) 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 Shariah-Compliant securities. The fund is also aimed at ensuring preservation of capital and maintenance of liquidity.
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Subscribers can expect halal profits on the growth of their capital over the long-term in accordance with the principles of Islamic finance.
Commenting on the launch of the product, Mr Tony Edeh, the Managing Director/CEO, stated that “The Fund is 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.”
“The objective of the Fund is to provide investors with the opportunity to invest in a professionally managed portfolio of Shariah Compliant Assets.”
The Fund opened for subscription on 22 February 2021 and will close on 31March 2021.