Fundvine Rolls Out ₦1bn SEC-Approved Halal Balanced Fund
Fundvine Berkshire Asset Management Limited has launched its ₦1 billion Fundvine Halal Balanced Fund, a Sharia-compliant investment product designed to expand ethical investment opportunities and promote financial inclusion across Nigeria. The fund was unveiled at a ceremony in Abuja attended by investors, business leaders, financial experts and key stakeholders in the country's capital market. Speaking at the event, the Group Chief Executive Officer of Fundvine Berkshire Asset Management Limited, Michael Enyinna, described the launch as a major milestone for the company and a significant step toward making ethical investment products more accessible to Nigerians. He disclosed that the mutual fund has received approval from the Securities and Exchange Commission (SEC) and operates under a strict regulatory framework. According to him, UBA serves as the fund's custodian, while Apel Capital & Trust has been appointed as trustee, providing additional oversight to safeguard investors' assets. Enyinna said the company would leverage its existing customer base while embarking on extensive awareness campaigns to attract more investors. Although he declined to promise fixed returns, he noted that several balanced funds in Nigeria had recorded returns of between 40 and 50 percent over the past year, expressing confidence that the new fund would deliver competitive value over time. He also assured investors that they would have seamless access to their investments through the company's digital platform, where withdrawal requests can be processed efficiently whenever needed. In his keynote address, the Chief Executive Officer of One17 Financial Services Limited, Ismail Rufai, explained that Islamic finance is built on ethical and transparent investment principles and is open to everyone, irrespective of religious belief. He noted that Sharia-compliant investments focus on productive sectors of the economy rather than interest-based transactions.
From left Ismail Rufai, Head Advisory One17 Capital, Mr Michael Enyinna, Group CEO Fundvine, Nafiu Kwakwaso, Nonye Cally Bechi, Group Head Fundvine, Alhaji Mohammed Umar
Rufai cited Nigeria's Sukuk programme as an example of how Islamic finance has supported infrastructure development, explaining that mutual funds such as the Fundvine Halal Balanced Fund invest in Sukuk and other approved assets, allowing investors to earn returns while contributing to national growth. The introduction of the ₦1 billion Fundvine Halal Balanced Fund is expected to broaden investment opportunities, strengthen ethical finance and support inclusive wealth creation within Nigeria's growing capital market.
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