Fundvine Berkshire Asset Management Ltd has introduced the ₦1 billion Fundvine Halal Balanced Fund, a Sharia-compliant investment vehicle aimed at broadening ethical investment opportunities and fostering inclusive wealth creation across Nigeria.
The unveiling took place in Kano, drawing a strong turnout of investors, financial experts, business leaders, and key stakeholders from Kano State and various regions nationwide.
In an interview with journalists following the launch, the Group Chief Executive Officer of Fundvine Berkshire Asset Management Ltd, Mr. Michael Enyinna, characterized the introduction as a milestone for the firm and a significant advancement for ethical financial products in the country.
“Today is a very big milestone for us. We are launching a Sharia-compliant investment called the Fundvine Halal Balanced Fund, and you can see for yourself that the response has been overwhelming, with many people subscribing today,” Mr. Enyinna stated.
He noted that the mutual fund has secured all required regulatory approvals from the Securities and Exchange Commission (SEC) and functions under established governance frameworks created to protect investor capital.
Furthermore, Mr. Enyinna announced that the United Bank for Africa (UBA) acts as the fund’s custodian, while Apel Capital & Trust serves as the trustee, reassuring prospective investors that strict regulatory oversight will secure their assets.
“There should be no doubt about the safety of investors’ funds because the fund is regulated by the SEC. The custodian and trustees also provide additional layers of oversight in line with regulatory requirements,” he added.
To drive growth, the company plans to utilize its current customer base alongside extensive public awareness campaigns to attract new investors.
“He stated that our shares do not involve any interest, and any relationship prohibited by religion does not exist in ours.
We will not use the funds invested by people to engage in businesses prohibited by Islam, such as consuming alcohol, selling alcohol, gambling, hotel operations, and other forbidden activities.
There is a loan provision framework for traders to help them expand their businesses and develop various other sectors.”
