Fundvine Berkshire Asset Management Ltd has unveiled its ₦1 billion Fundvine Halal Balanced Fund, a Sharia-compliant investment vehicle designed to expand ethical investment opportunities and promote inclusive wealth creation in Nigeria.
The fund was officially launched in Abuja, attracting investors, financial experts, business leaders and stakeholders in the country’s capital market.
Speaking with journalists shortly after the launch, the Group Chief Executive Officer of Fundvine Berkshire Asset Management Ltd, Mr. Michael Enyinna, described the unveiling as a landmark achievement for the company and a major step in advancing ethical investment 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,” Enyinna said.
He explained that the mutual fund has received all necessary regulatory approvals from the Securities and Exchange Commission (SEC) and operates under established governance structures designed to safeguard investors’ funds.
Mr. Enyinna disclosed that UBA serves as the custodisn, while Apel Capital & Trust acts as trustees of the fund, assuring prospective investors that their investments would be protected through strict regulatory oversight. “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 stated. He explained that the company intends to leverage its existing customer base while embarking on aggressive awareness campaigns to attract new investors.
Although he declined to guarantee any specific rate of return, Enyinna observed that several balanced funds in Nigeria had recorded returns of between 40 and 50 per cent over the past year, expressing confidence that investors in the new fund would enjoy competitive performance.
“We are not promising any fixed return because this is only the opening day of the fund. However, based on market performance, many balanced funds have recorded impressive returns, and we are confident our investors will benefit,” he said.
He also assured investors of easy access to their funds whenever withdrawals become necessary, explaining that the company has developed efficient digital channels that enable customers to request withdrawals through its online platform.
In his keynote address, the Chief Executive Officer of One17 Financial Services Ltd, Ismail Rufai, sought to dispel widespread misconceptions surrounding Islamic finance, stressing that Sharia-compliant investments are not only profitable but also open to everyone regardless of religious affiliation.
Rufai explained that Islamic finance promotes productive economic activities, infrastructure development and ethical wealth creation rather than speculative lending.
He cited Nigeria’s Sukuk financing programme as a practical example of Sharia-compliant financing contributing to national development through the construction of critical road infrastructure.
According to him, mutual funds such as the Fundvine Halal Balanced Fund invest in Sukuk and other Sharia-compliant assets, enabling investors to participate indirectly in infrastructure financing while earning 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,” he said.
Rufai further explained that while Islamic principles discourage interest-based lending that exploits borrowers, they encourage profits arising from legitimate trade, partnerships and productive investments.
The introduction of the ₦1 billion Fundvine Halal Balanced Fund is expected to further diversify investment opportunities in Nigeria’s capital market while supporting financial inclusion through regulated, ethically managed investment products.
