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Monday,
December 7, 2020 / 06.30AM / Bukola Akinyele for WebTV / Header Image Credit: WebTV
As part of efforts towards deepening the non-interest finance market in Nigeria, United Capital a leading financial services and investment banking group in Nigeria, launched its first ethical investment product the "Sukuk Fund".
The
launch brought together stakeholders, regulators and key experts in the Nigerian
non-interest finance market.
In
his opening Remarks, Mr. Peter Ashade Group CEO, United Capital
believed the Sukuk Launch shows the high value for innovation from the financial
services group, and created an additional product for the company's
clients.
Ashade pledged that the company would
continue to develop products that would clients interest.
The Director Northern Region of United
Capital, Dr. Mahmoud Shuaib, speaking on "Ethical Investments and the
Dynamics of Shariah-Compliant Investments" noted that the Sukuk
Fund would benefit different classes of people.
Mrs Odiri Ogini, MD/CEO United Capital
Asset Management in her remarks provided insight tp the objectives, key
investment considerations and the financial projections of the fund. She said
the multi-billion mutual fund market has challenged fund managers to look for
alternative sources of investments beyond equities, with special focus on
ethical non-imterest-based options for clients.
The Group Executive Director of United
Capital, Mr. Sunny Anene, looking at the benefits of the Sukuk
Launch believed it would deepen the market and enable investors to diversify
their portfolios/risks.
He stated that low-income earners will
benefit from the non-interest product including millennials who are digitally
savvy.
United
Capital Sukuk is a Shariah-compliant open-ended mutual fund regulated by
the Securities and Exchange Commission (SEC) to provide investors with a
low-risk investment with competitive returns.
The essence of the fund is to drive superior value for investors in terms of investment yields. Additional Benefits of the fund include;
The fund would serve as an opportunity for United Capital to serve a
variety of clients across geographies and religions.
The event featured a virtual
interactive session which was moderated by Mr. Kayode Tinuoye, Head
Portfolio Management, United Capital Asset Management.
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