Marble Capital Offers N3bn Halal Commodities Fund to Investors

Kayode Tokede

In a bid to provide investors with investment options and align with the Securities and Exchange Commission (SEC) to deepen the commodities market, Marble Capital Limited, yesterday offered to investing public a N3 billion Marble Halal Commodities Fund.

The commodities Fund is domiciled in the agro-economic and is the first commodities Fund to be approved by the Commission.  

The company is offering for subscription 30,000,000 units of N100 each at par payable in full on application.

The Fund which primarily invests in commodities-linked instruments, operates based on the principles of Shari’ah and as such only invests in halal -certified investment instruments.

Speaking at the launching ceremony of the Fund in Lagos, the Executive Commissioner for Operations, SEC, Mr. Dayo Obisan, said that the launch of the fund would play a key role in the attainment of the 2015–2025 Nigerian Capital Market Master Plan of the Commission.

He noted that one of the cardinal points was for 25per cent of the market capitalization to come from non-interest areas such as Marble Halal Commodities Fund.

Speaking earlier, the Chairman, Marble Capital Limited, Alhaji Ali Ango said the fund would be invested in a series of commodities-linked instruments, including gold and precious metals among others.

According to him, “The Fund is forward-looking and will be able to adapt to these asset classes as they become available and are approved by the regulators.

“The launch was timely, especially, coming from the raging floods that ravaged Nigeria last year, prompting commodities exchanges not only to prioritize agriculture production but also processing and the act of off-taking which can add value.

“The Federal Government has agreed to support the farmers who lost a lot last year. This is why the launch is timely.”

Also speaking was the Chief Executive Officer, Marble Capital Limited, Akeem Oyewale, who said the fund would enhance product diversification in the Nigerian economy while preventing loss of investments to Ponzi schemes and funny crowd funding programmes.

“The main objective of the fund is to provide investors with income diversification and generate returns by investing in diverse halal- compliant instruments.

“In addition, the fund would also contribute to the economic growth of the country. We believe that we will be able to formalize a lot of non-formal agricultural investments and that would allow investors to scale investments opportunities.

“The Marble Halal Commodities Fund is open to both retail and institutional investors and compliant with the PenCom guidelines for mutual fund investments. The minimum amount required for investment is N50,000. “, said Oyewale.