Lotus capital to list N1.49b fixed income fund

Lotus Capital Halal Investments Limited has been given regulatory nod to list its N1.49 billion fixed income fund on the memorandum board of the Nigerian Stock Exchange (NSE).

A total of 1.487 million units of lotus capital fixed income fund of N1, 000 each will be listed by way of introduction on the memorandum board of the exchange.

The quotation committee of the NSE has approved the listing of the lotus capital fixed income fund, a process that will pave way for the trading of the units on the exchange.

The lotus capital fixed income fund had earlier been approved by Lotus capital’s shari’ah advisory board as well as the Securities and Exchange Commission (SEC).

There are 46 mutual funds already listed on the memorandum quotation of the exchange, including lotus capital halal investment fund, another mutual fund under the management of lotus capital halal investments limited.

The lotus capital fixed income fund is an open-ended collective investment scheme, which invests strictly in shari’ah-compliant fixed income instruments and contracts, such as sovereign and sub-sovereign Sukuk, corporate Sukuk, Shari’ah-compliant fixed term investments, Murabaha or cost-plus financing contracts and Ijarah or lease contracts.

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