Frequently Asked Questions
The profit on investment is the interest earned which is paid periodically. Interest on investment is paid monthly, quarterly or at maturity of the investment.
You have the option of reinvesting your accrued interest or receiving (same as) a direct credit into your account. We also provide you with an investment certificate, which can be tendered for visa applications or as collateral to access loans.
Our interest rates vary depending on your investment type, value of investment, duration of the investment and the current interest rate trend in the financial market. However, we have one of the most competitive rates in the market.
We are regulated by the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN). We also have a very strong capital base and a robust risk management framework that ensures your investment is in safe hands.
The Norrenberger Customer Service team will provide you with an investment certificate at the start of your investment and for additional investments in your account.
Once you’ve signed on as a client, you will be given access to view and monitor your account activity online. You may also request for your account statement at any time.
Please click this link:Account Opening to fill out an account opening form or call +234 908 781 2026, +234 908 781 2027 to speak to a Customer Service Representative or send us an email at customerservice@norrenberger.com
This is a tax that is deductible from interest paid to an investor. It is a statutory tax, remitted to the Federal Government of Nigeria through the Federal Inland Revenue Service (FIRS) and is currently capped at 10% on accrued interest.
All rates are quoted on an annual basis.
Yes, you can.
Liquidation of fund is processed on the same working day your request is received provided your request is received during working hours (8am – 5pm).
Yes, you can. Our robust platform allows you to invest from any part of the world by opening an account online.
Yes, you can. You can invest in USD, GBP and Euros.
To open an account we require a completed account opening form, a valid means of identification, utility bill not older than 3 months, a recent passport photograph and specimen signature.
An electronic copy (e-copy) of your investment certificate is always sent to your registered e-mail address. You can print out the e-copy and rely on same for record purposes.
Yes, you can. Our platform allows you to top up your investment at any time.
Yes, you can. As long as these accounts are in your name or minors’ whose identity are linked to your BVN
Yes, you can. All you need to do is send a duly signed instruction to that effect.
No. You can only choose the investment product. However, our discretionary funds and mutual funds gives you a broader option of where the funds are likely to be invested.
Yes, you can. Most investment products are tailored to address a particular investment objective. Thus, you can invest in several of our products to suit your various investment needs.
Minimum of 90 days.
Yes, you can but not less than 90 days
Yes, you can.
You can only operate your Corper invest account for the duration of your service year. However, after the completion of the service year, your investment can be migrated to any of our standard investment accounts depending on your objective at that time.
The fund is discretionary because the Asset Manager reserves the right to choose which assets to invest in, in line with Shari’a principles.
Yes, you can. Anyone who prefers to invest according to ethical dictates can invest in the fund.
here is no cap to the number of people who can make up a group to invest in the scheme.
Yes, you can.
No, it will not. The agreed interest rate stays the same for the duration of your investment.
You cannot withdraw your interest monthly or quarterly because you are investing towards a target/goal. Taking out the returns monthly is counterproductive.
Yes, you can. You can also open a joint account with a relative, business partner or friend.
Six (6) months
- Ease of access to Shariah Compliant Securities
- Ethical Investing
- Stable income & liquidity
- Capital appreciation
- Investment diversification
- Low risk
- Professional management by qualified Fund Managers
During the IPO, investors will be required to fill the initial public offering application form, provide KYC documents, and transfer funds to designated accounts. After the IPO, investors can invest in the Fund by filling the subscription form for our Mutual Funds as well as providing supporting documents (passport photograph, valid means of ID, proof of address and proof of payment). Investors will also be able to invest in the Fund after the IPO through any of our digital channels.
What type of securities can the NIF invest in?
A: The Fund will only invest in Shariah Compliant securities and investment products that are permissible under Shariah principles. Some of these include:
Sukuk: These are certificates of equal value representing undivided shares in the ownership of tangible assets or special investment activity. The holder of the certificate is entitled to receive periodic returns s from the underlying asset. Some of the Sukuks to be considered by the Fund will be in the following forms:
- Ijarah: These are contracts for the lease of certain compliant assets to customers. The investor earns rent by charging rentals on the asset leased to the
- Mudaraba: This means an agreement between two parties wherein one party provides the capital (Capital provider/ Rab al-Mal) for the other (entrepreneur / Mudarib) to work with on the condition that the profit will be shared between them according to a pre-agreed ratio.
- Murabaha: This is the sale of goods at the purchase price plus a margin of profit agreed upon by the parties concerned.
- Musharaka: This means a relationship established under a contract by the mutual consent of two or more entities that provide capital, either in cash or in-kind, to finance a business venture. Any profits derived from the venture will be distributed based on a pre-agreed profit-sharing ratio, however, a loss will be shared on the basis of equity participation.
- Istisna: This is a contractual agreement for the manufacturing of goods (or construction of projects including houses, roads and bridges), allowing cash payment in advance and future delivery or a future payment and future delivery.
- Shariah-Complaint fixed-term Investments: This represents fixed-term investments with tenors of 1, 2 or 3 years, not exceeding 3 years, depending on the nature of asset financing that adheres to Shariah principles. The Fund will also invest in asset-backed transactions such as real estate, lease contracts, cost-plus financing, and other similar transactions.
- Cash and Other Shariah-Compliant Contracts: The Fund will invest in Shariah-Compliant contracts with tenors less than 365 days that adhere to Shariah principles. Any uninvested cash will be held in non-interest-bearing accounts or near cash Islamic complaint deposits.
An Advisory Committee of Experts (“ACE”) comprised of renowned Islamic scholars with national and international experience will oversee the investment activities of the Fund. The ACE will issue a certificate of compliance on the Fund annually. The Fund is also overseen by an Independent Trustee who reviews the investments and activities of the Fund on a quarterly basis to provide assurance.
The Fund is an open-ended Collective Investment Scheme with no fixed tenor. Investors can subscribe and redeem from the Fund daily.
There is a lock-in period of six months (180 days) from the Allotment Date during which investors should not exit or redeem their Investment. Investors that want to exit before the lapse of the six months lock-in period, will be charged 20% flat on the accrued income.
The Fund will periodically distribute net income to Unitholders in line with guidelines in the Trust Deed.
Yes. The Fund is suitable for all ethically-minded individuals and institutions.
All Collective Investment Schemes issued by licensed Fund Manager including NIF are regulated by the SEC.
The Fund’s return will mirror the return on the group of Shariah-compliant securities in issue.
Yes. NICML’s Management fee is 1.50%p.a. of the Net Asset Value (“NAV”).
The Norrenberger Money Market Fund(“the Fund” or “NMMF”) is a collective investment scheme, registered with the Securities and Exchange Commission (SEC). The Fund aims to preserve investors’ capital whilst providing liquidity and competitive returns on its assets by investing in a diversified portfolio money market instruments. The Fund invests in Nigerian short-term money market instruments such as Federal Government Treasury Bills, Bankers’ Acceptance, Commercial Papers, Certificate of Deposit, and other instruments introduced and approved by the Central Bank of Nigeria (CBN) from time to time.
The Fund pools funds from several investors and invests them in money market instruments. The pool of funds allows for better negotiation power and higher returns which maximizes the income to subscribers. The Fund aims to invest all its assets into short-term money market instruments.
The Fund is managed by Norrenberger Asset Management Limited (“NAML”). The Trustee to the Fund is UTL Trust Management Services Limited while the Custodian is UBA Global Investor Services Limited.
The benefits of investing in the Norrenberger Money Market Fund include:
Affordability and Accessibility: The NMMF is affordable as you can subscribe to the Fund with as low as N5,000.00 and subsequently, multiples of N1,000.00. There is no maximum amount you can invest. You can also make additional investments in the Fund thereafter. The Fund is open-ended which means that you can subscribe and redeem your investment at any time.
Competitive Returns: The Fund Manager expects the yields on the Fund to be more competitive than interest rates on savings accounts. The Benchmark return for the Fund is the average yield of 91-day FGN Treasury bills plus a 100 basis points.
Liquidity: The Fund invests in securities that can quickly be converted to cash, as such, it is very liquid. Investors can buy and sell their investment with ease. Redemption from the fund takes 2-3 working days from the date of receipt of the duly completed redemption form.
Safety and Capital Preservation: The risk profile of the fund is low as it invests in short term money market instruments that preserve your investment.
Diversification: The Fund holds a portfolio of money market instruments, hence, investors enjoy the benefits of holding a diversified portfolio whilst minimizing risks.
Professional Management Expertise: By investing in the Fund, you benefit from the professional fund management expertise and service of the Fund Manager.
Investment into the Fund can be made through the Fund Manager by completing a Subscription Form which is available online at www.norrenberger.com. Online application and payment is also available via the website. A fund transfer can also be made into the fund’s account detailed below and the evidence of transfer submitted alongside other subscription documents.
Bank: UBA PLC
Account Name: Norrenberger Money Market Fund/UTL Trust Management Services Limited
Account Number: 102-296-2235
The minimum initial amount you can invest in the Fund is N5,000.
You can make additional subscription by completing a subscription form and attach evidence of fund transfer or a cheque or bank draft made payable to Norrenberger Money Market Fund for the amount you wish to invest. You can also set up a Direct Debit by completing the Direct Debit Form, available on our website.
The forms are available at the offices of Norrenberger at no cost. The forms can also be downloaded from our website www.norrenberger.com.
Yes, it is possible to invest for your children, and other family and friends.
You can apply as a corporate body/entity or make a joint application (for up to a maximum of four individuals) depending on the nature of the group. Please note that the Unitholding Statement and any distribution or redemption proceeds will be issued in the name of the applicant(s), that is, the company, entity, or joint name. These persons would have to determine how such should be shared.
The offer price is N100 and remains constant through the life of the Fund.
Yes, you get an investment confirmation. While an investment Statement, indicating the amount invested by you and other subscription details will be forwarded to you via the email address provided on your subscription form.
Dividends are paid to subscribers of the Fund on a quarterly basis. Subscribers have the option of receiving their dividend as cash into their registered bank account(s) or reinvesting them in the fund.
As a subscriber to the Fund, you will receive a statement of account monthly. You can also view and/or print your statement of investment online at any time.
The value of your investment reflects both principal and accumulated interest and it is displayed on your account dashboard assessable online on our website.
You will be required to complete a Redemption Form. Once these documents have been verified, the redemption request will be processed within 2-3 working days.
There are no penalties for withdrawals. However, A penalty charge of 20% flat on the accrued dividend is payable on any redemption effected within 30 days of subscription to the Fund.
The minimum amount that can be left in the Fund after a withdrawal is N5,000.
No. The Fund Manager, Norrenberger, makes all the investment decisions based on guidelines set out in the Fund’s Trust Deed.
Yes, many banks will accept investment in the the Fund as collateral, however, this depends on each bank’s lending policy.
No, the Fund is not listed in the Daily Official Memorandum list of The Nigerian Stock Exchange. The Fund Manager however shall take steps to list subsequently.
The Fund is an open-ended fund. Hence, there is no closing date to invest in the Fund.
Your distribution mandate instructs us on how you wish to receive your income distribution on your Money Market Fund investment. subscribers can choose to either re-invest their dividend into the fund or receive cash via a transfer to bank account provided. If your mandate is for us to re-invest, you will not receive cash distributions. On the other hand, if your mandate is to “transfer to bank account provided” your income distribution would have been paid into the bank account details you provided in your subscription form. Any complaints or enquiry regarding the Norrenberger Money Market Fund dividend payment should be sent to customerservice@norrenberger.com.
Kindly send an email to
customerservice@norrenberger.com.
Kindly send an email to customerservice@norrenberger.com,
highlighting the error and the corrections will be made immediately.
Redemption processing may take up to (3) working days from the date your request is received by us. However, the redemption process can extend beyond three (3) working days if there are inherent challenges with the redemption process; in which case you would have been contacted by one of our officers. If this is not the case and are yet to receive the proceed of your redemption, kindly send an email to customerservice@norrenberger.com
Simply do a formal letter requesting for a change of name and submit same at our office address. However, please note that this letter is to be supported with the following documents: Newspaper publication of change of name, Marriage certificate (where applicable), Affidavit of change of name, and Bankers’ Confirmation Letter.
The assets of the Fund are held with a custodian, UBA Bank for Africa (Global Investor Services Limited). There are other professional parties to the fund who ensure necessary checks and balances.
The Norrenberger Money Market Fund(“the Fund” or “NMMF”) is a collective investment scheme, registered with the Securities and Exchange Commission (SEC). The Fund aims to preserve investors’ capital whilst providing liquidity and competitive returns on its assets by investing in a diversified portfolio money market instruments. The Fund invests in Nigerian short-term money market instruments such as Federal Government Treasury Bills, Bankers’ Acceptance, Commercial Papers, Certificate of Deposit, and other instruments introduced and approved by the Central Bank of Nigeria (CBN) from time to time.
The Fund pools funds from several investors and invests them in money market instruments. The pool of funds allows for better negotiation power and higher returns which maximizes the income to subscribers. The Fund aims to invest all its assets into short-term money market instruments.
The Fund is managed by Norrenberger Asset Management Limited (“NAML”). The Trustee to the Fund is UTL Trust Management Services Limited while the Custodian is UBA Global Investor Services Limited.
The benefits of investing in the Norrenberger Money Market Fund include:
Affordability and Accessibility: The NMMF is affordable as you can subscribe to the Fund with as low as N5,000.00 and subsequently, multiples of N1,000.00. There is no maximum amount you can invest. You can also make additional investments in the Fund thereafter. The Fund is open-ended which means that you can subscribe and redeem your investment at any time.
Competitive Returns: The Fund Manager expects the yields on the Fund to be more competitive than interest rates on savings accounts. The Benchmark return for the Fund is the average yield of 91-day FGN Treasury bills plus a 100 basis points.
Liquidity: The Fund invests in securities that can quickly be converted to cash, as such, it is very liquid. Investors can buy and sell their investment with ease. Redemption from the fund takes 2-3 working days from the date of receipt of the duly completed redemption form.
Safety and Capital Preservation: The risk profile of the fund is low as it invests in short term money market instruments that preserve your investment.
Diversification: The Fund holds a portfolio of money market instruments, hence, investors enjoy the benefits of holding a diversified portfolio whilst minimizing risks.
Professional Management Expertise: By investing in the Fund, you benefit from the professional fund management expertise and service of the Fund Manager.
Investment into the Fund can be made through the Fund Manager by completing a Subscription Form which is available online at www.norrenberger.com. Online application and payment is also available via the website. A fund transfer can also be made into the fund’s account detailed below and the evidence of transfer submitted alongside other subscription documents.
Bank: UBA PLC
Account Name: Norrenberger Money Market Fund/UTL Trust Management Services Limited
Account Number: 102-296-2235
The minimum initial amount you can invest in the Fund is N5,000.
You can make additional subscription by completing a subscription form and attach evidence of fund transfer or a cheque or bank draft made payable to Norrenberger Money Market Fund for the amount you wish to invest. You can also set up a Direct Debit by completing the Direct Debit Form, available on our website.
The forms are available at the offices of Norrenberger at no cost. The forms can also be downloaded from our website www.norrenberger.com.
Yes, it is possible to invest for your children, and other family and friends.
You can apply as a corporate body/entity or make a joint application (for up to a maximum of four individuals) depending on the nature of the group. Please note that the Unitholding Statement and any distribution or redemption proceeds will be issued in the name of the applicant(s), that is, the company, entity, or joint name. These persons would have to determine how such should be shared.
The offer price is N100 and remains constant through the life of the Fund.
Yes, you get an investment confirmation. While an investment Statement, indicating the amount invested by you and other subscription details will be forwarded to you via the email address provided on your subscription form.
Dividends are paid to subscribers of the Fund on a quarterly basis. Subscribers have the option of receiving their dividend as cash into their registered bank account(s) or reinvesting them in the fund.
As a subscriber to the Fund, you will receive a statement of account monthly. You can also view and/or print your statement of investment online at any time.
The value of your investment reflects both principal and accumulated interest and it is displayed on your account dashboard assessable online on our website.
You will be required to complete a Redemption Form. Once these documents have been verified, the redemption request will be processed within 2-3 working days.
There are no penalties for withdrawals. However, A penalty charge of 20% flat on the accrued dividend is payable on any redemption effected within 30 days of subscription to the Fund.
The minimum amount that can be left in the Fund after a withdrawal is N5,000.
No. The Fund Manager, Norrenberger, makes all the investment decisions based on guidelines set out in the Fund’s Trust Deed.
Yes, many banks will accept investment in the the Fund as collateral, however, this depends on each bank’s lending policy.
No, the Fund is not listed in the Daily Official Memorandum list of The Nigerian Stock Exchange. The Fund Manager however shall take steps to list subsequently.
The Fund is an open-ended fund. Hence, there is no closing date to invest in the Fund.
Your distribution mandate instructs us on how you wish to receive your income distribution on your Money Market Fund investment. subscribers can choose to either re-invest their dividend into the fund or receive cash via a transfer to bank account provided. If your mandate is for us to re-invest, you will not receive cash distributions. On the other hand, if your mandate is to “transfer to bank account provided” your income distribution would have been paid into the bank account details you provided in your subscription form. Any complaints or enquiry regarding the Norrenberger Money Market Fund dividend payment should be sent to customerservice@norrenberger.com.
Kindly send an email to
customerservice@norrenberger.com.
Kindly send an email to customerservice@norrenberger.com,
highlighting the error and the corrections will be made immediately.
Redemption processing may take up to (3) working days from the date your request is received by us. However, the redemption process can extend beyond three (3) working days if there are inherent challenges with the redemption process; in which case you would have been contacted by one of our officers. If this is not the case and are yet to receive the proceed of your redemption, kindly send an email to customerservice@norrenberger.com
Simply do a formal letter requesting for a change of name and submit same at our office address. However, please note that this letter is to be supported with the following documents: Newspaper publication of change of name, Marriage certificate (where applicable), Affidavit of change of name, and Bankers’ Confirmation Letter.
The assets of the Fund are held with a custodian, UBA Bank for Africa (Global Investor Services Limited). There are other professional parties to the fund who ensure necessary checks and balances.