FBNQuest Asset Management Launches Open-Ended Mutual Halal Fund Aimed at Ethical Investments

FBN Quest Asset Management (FBNQAM), a subsidiary of Nigeria-based FBNQuest Merchant Bank (FBNQMB), has launched the FBN Halal Fund (FBNHF) aimed at meeting the needs of investors seeking long-term income generation. FBNHF will be regulated by Nigeria’s Securities and Exchange Commission and will provide exposure to a broad range of fixed income Shariah-compliant investments.

According to local media reports, FBNHF will adopt a best practice approach with its governance structure through a Shariah Advisory Council of Experts, an Investment Committee, a Custodian, and a Trustee, in order to provide investors with confidence on strict adherence to Shariah principles.

The Managing...