Campbells advises Skye Investment Fund SPC on the launch of Perennial segregated portfolio
The Fund’s investment objective is to achieve long-term capital appreciation and income generation in a manner consistent with the principles of Islamic Shariah, certified by the premier Shariah Supervisory board of Amanie Advisors, by investing in a hybrid multi-asset portfolio of Shariah-compliant nature including stocks, sukuks and commodities (allocations managed with both in-house developed algorithmic model and human expertise). To that end, the Fund invests exclusively in instruments that are, at the time of investment and on an ongoing basis, determined to be compliant with Shariah principles and the Shariah investment guidelines issued by the Fund’s Shariah Advisor.
This launch represents a significant development in the Shariah-compliant investment landscape as it utilises the Cayman Islands segregated portfolio company structure, whereby the Fund benefits from statutory asset segregation, enabling Shariah-compliant investments to be ring-fenced within a dedicated portfolio with its own classes of shares, its own fee arrangements, and its own Shariah governance framework, while forming part of a broader fund platform.
Robert Searle, Head of Corporate, Hong Kong, said, “We believe this architecture sets a new standard as it particularly benefits Muslim investors, as it ensures their capital is entirely separate from any non-shariah compliant assets or activities within the broader fund platform, providing confidence that their investments are managed in full accordance with Islamic principles.”
Victoria Capital Management (Mauritius) Ltd. has been appointed as the investment manager, with AlphaInvest Ltd of Mauritius serving as the investment advisor. Amanie Advisors Ltd., a leading Shariah advisory firm based at the Dubai International Financial Centre, has been appointed as the Fund’s Shariah Advisor, providing continuous advisory support, Shariah screening, compliance monitoring, and annual certification. Victoria Capital Management (Mauritius) Ltd. is a leading international wealth-management firm, licensed and regulated by the Financial Services Commission (FSC) in Mauritius with offices in Mauritius and a global network of collaborators rooted in Luxembourg, Monaco and Dubai. VCM combines the attentiveness of a boutique firm with the extensive resources and stability of a major investment house, by providing discretionary and non-discretionary investment management services to private and institutional clients.
Robert Searle led the transaction with support from Peter Alphart.
