As investors’ confidence is gradually returning to the Nigerian capital market despite the lull in economic activities, the United Capital Plc, leading fund manager in Nigeria has recorded another landmark with the launching of the nation’s first designated mutual fund for N1.0 billion Sukuk Fund.
United Capital Asset Management Limited, a member of United Capital unveiled Nigeria’s maiden Sukuk fund with United Capital Sukuk Fund.
The company is raising N1 billion as initial target size of the open-ended mutual fund, which implies that investors can continue to buy into the fund as they desire at any time.
The Sukuk fund offers exciting returns on investment compared with existing comparative returns with average return on investment expected at 6.8 per cent in 2020 and expected to grow to 6.9 per cent in 2021 and 7.3 per cent by 2023.
United Capital deepens alternative finance with N1 billion maiden Sukuk fund today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.