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ABUJA – Fundvine Berkshire Asset Management Ltd has expanded Nigeria’s ethical investment landscape with the launch of its ₦1 billion Fundvine Halal Balanced Fund, a Sharia-compliant mutual fund aimed at promoting financial inclusion, sustainable wealth creation and greater participation in the country’s capital market.

The fund, unveiled in Abuja before a gathering of investors, financial experts, business executives and capital market stakeholders, is expected to provide individuals and institutions with an ethical investment option that complies with Islamic financial principles while remaining accessible to investors of all faiths.

Speaking after the launch, the Group Chief Executive Officer of Fundvine Berkshire Asset Management Ltd, Mr. Michael Enyinna, described the initiative as a major milestone in the company’s growth strategy and a significant contribution to Nigeria’s evolving investment ecosystem.

According to him, the launch received an encouraging response from investors, with subscriptions recorded on the first day of the offer.

Enyinna explained that the Fundvine Halal Balanced Fund has secured all required approvals from the Securities and Exchange Commission (SEC), assuring investors that the fund operates under a robust regulatory framework designed to ensure transparency and protect investors’ assets.

He disclosed that United Bank for Africa (UBA) serves as the fund’s custodian, while Apel Capital & Trust acts as trustee, providing additional layers of governance and accountability.

“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 said.

The Fundvine CEO noted that the company plans to leverage its existing customer network while intensifying public awareness campaigns to broaden participation in the new investment product.

While refraining from projecting guaranteed returns, Enyinna pointed out that balanced funds in Nigeria have delivered strong performances in recent years, with some generating annual returns of between 40 and 50 per cent.

He expressed optimism that the Fundvine Halal Balanced Fund would deliver competitive returns in line with prevailing market conditions.

He also highlighted the company’s digital investment infrastructure, explaining that investors would enjoy convenient access to their funds through an online platform that enables seamless withdrawal requests whenever required.

Delivering the keynote address, the Chief Executive Officer of One17 Financial Services Ltd, Ismail Rufai, emphasised that Islamic finance is often misunderstood, stressing that Sharia-compliant investments are open to everyone irrespective of religious beliefs.

He explained that Islamic finance focuses on financing productive economic activities, encouraging investments in infrastructure, commerce and other sectors that generate real economic value rather than speculative transactions.

Rufai cited Nigeria’s Sukuk programme as evidence that Sharia-compliant financing has contributed meaningfully to national development by supporting the construction of major road infrastructure across the country.

He explained that mutual funds such as the Fundvine Halal Balanced Fund invest in Sukuk and other approved Sharia-compliant assets, allowing investors to participate in infrastructure financing while earning legitimate investment returns.

“Because an investment is Sharia-compliant does not mean it cannot generate profits. There is no limit to profit as long as it is earned ethically, transparently and without exploitation,” Rufai stated.

He added that Islamic finance discourages exploitative interest-based transactions but actively promotes profit derived from lawful trade, partnerships and productive investments.

Industry stakeholders believe the introduction of the ₦1 billion Fundvine Halal Balanced Fund will strengthen Nigeria’s capital market by widening access to ethical investment products, supporting financial inclusion and offering investors an alternative avenue for long-term wealth creation under a regulated framework.

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