UTL Asset Management Limited (UTLAM) has taken a significant step in expanding its investment offering with the signing of the transaction documents for its inaugural Halal Fund at a signing ceremony held in Lagos.
The signing ceremony, held on Monday, August 24, 2026, brought together the key institutions responsible for the management, oversight and administration of the Fund, marking an important milestone in UTLAM’s journey as an asset management company.
The UTLAM Halal Fund is built to Islamic finance principles, avoiding interest-based instruments (riba), excessive uncertainty (gharar), gambling (maysir), and industries considered impermissible. However, the fund is open to any investor drawn to that ethical discipline, regardless of faith.
Structured as a diversified portfolio of Sovereign and Corporate Sukuk, Islamic money market instruments, and Shari’ah-screened equities, the Fund is designed to pursue long-term capital growth and income generation for its investors, while remaining anchored to those principles at every stage.
UTL Asset Management serves as the Fund Manager, while United Capital Trustees acts as Trustee. Rand Merchant Bank is the Custodian, Coronation Registrars serves as Registrar, and One17 Capital Limited serves as the Shari’ah Adviser. The Fund’s other professional advisers include PwC as Auditor and Banwo & Ighodalo as Solicitor.
From L-R (Mr. Basheer Oshodi, an independent member of the UTLAM Halal Fund Investment Committee; Mrs. Olufunke Aiyepola, Managing Director/CE, UTL Trust Management Services Limited ; Stephen Igwewanne, Managing Director, UTL Asset Management Limited ;Mrs. Olaide Omotoro, Executive Director of UTL Trustees and a representative of the shareholder.
UTL Asset Management serves as the Fund Manager, while United Capital Trustees acts as Trustee. Rand Merchant Bank is the Custodian, Coronation Registrars serves as Registrar, and One17 Capital Limited serves as the Shari’ah Adviser. The Fund’s other professional advisers include PwC as Auditor and Banwo & Ighodalo as Solicitor.
The Fund is regulated by the Securities and Exchange Commission (SEC) Nigeria, with investors’ assets held separately by an independent custodian. Its Shari’ah compliance is overseen by an independent Shari’ah Advisory Committee, while the Trustee, Custodian, SEC, auditors and other appointed service providers provide additional layers of oversight.
With the signing complete, subscriptions to the UTLAM Halal Fund are now open, with a minimum initial investment of 100,000 units at ₦1 each. Interested investors can subscribe by completing the subscription form, providing the required KYC documentation, and submitting through UTLAM’s offices, digital platforms, or authorized agents. A formal launch of the Fund will follow in due course.
This marks an exciting new chapter for UTL Asset Management Limited, as the company takes another step in expanding its investment offering and creating opportunities for investors.