Close Fund Services in Guernsey is to administer a new range of sustainable forestry funds launched by alternative asset management group MSS Capital. The closed-ended funds are part of a Guernsey-regulated incorporated cell company structure established with legal advice from Carey Olsen.
According to Close Fund Services director James Tracey (pictured), the funds will offer qualifying investors access to various forestry and agroforestry global investment opportunities designed to target high returns over different life cycles.
“Close has been working with a number of promoters recently that are looking to offer socially responsible investment opportunities to investors,” he says. “With nations battling to agree the best way forward, it is clear that for environmental sustainability to become a reality it must become commercially sustainable.”
The terms ‘green’ and ‘socially responsible’ are very wide, Tracey notes, and he adds: “It is exciting to see that promoters and managers are finding new and interesting investment opportunities across many asset classes.
“It is this wider market shift, away from charity-based investment into profitable investments, that satisfy an investor’s desire to invest responsibly while providing a financial incentive to do so.”
Oxigen Investments, which specialises in socially responsible and sustainable forestry, will act as investment adviser to the new funds. Initially the ICC will consist of three standalone incorporated cells, currently known as the Sustainable Teak & Agarwood Fund, Sustainable Red Fund and Sustainable Agroforestry Fund, although the names may change shortly to reflect the advisory partnerships in place.
According to MSS Capital director Simon Hookway, Close was chosen as administrator because of the firm’s expertise and “entrepreneurial spirit. “The new funds are a very exciting opportunity for us and investors alike,” he says,
