The Nigerian Stock Exchange (NSE) has reviewed the NSE Lotus Islamic Index (NSE LII) to coincide with the end of the first quarter 2015. The review became expedient following the expected merger of Lafarge Cement plc and Ashaka Cement plc later in the year.
The recomposition of these indices after the review will be effective on Wednesday, April 1, 2015. Mobil Oil Nigeria plc is the incoming stock while Ashaka Cement plc is exiting the Index. The Nigerian Stock Exchange in partnership with Lotus Capital Limited began publishing certified Shari’ah compliant Index known as the “NSE Lotus Islamic Index” or NSE LII in July 2012.
The index consists of companies in conformity with the principles of Shari’ah and was the first index created to track the performance of Shari’ah compliant equities on the floor of the exchange.
Investment instruments like Exchange Traded Funds (ETFs) were built on the Index which ethically minded investors, both in Nigeria and overseas can invested in. Lotus Capital was founded in June 2004 with the specific goal of meeting the investment needs of ethical individuals, businesses and organisations across West Africa.
It is a full-service, Halal Investment Management Boutique specialising in Shari’ah compliant asset management, private wealth management advisory services and financial advisory services.
