NIGERIA: CFG Africa, an asset management firm, launched the CFG Ethical Fund, a NGN1 billion (US$648,000) actively managed, open-ended unit trust structured in line with Islamic finance principles. The fund is managed by CFG Asset, with AVA Trustees acting as trustee, One17 Capital as Shariah adviser, Rand Merchant Bank Nigeria as custodian and Cardinal Stone Registrars as registrar.
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