Close Fund Services in Guernsey has been selected to administer a new range of sustainable forestry funds from alternative asset management group, MSS Capital.

The closed-ended funds will be administered by Close within a Guernsey regulated incorporated cell company structure, under the legal advice of Carey Olsen.

The funds will offer qualifying investors access to various forestry and agroforestry global investment opportunities all designed to target high returns over different life cycles.

Initially, the ICC will comprise of three standalone incorporated cells: The Sustainable Teak & Agarwood Fund, The Sustainable Red Fund and The Sustainable Agroforestry Fund. The names of these funds may change shortly to reflect the advisory partnerships in place.

Oxigen Investments, the socially responsible and sustainable forestry specialists, are acting as the investment adviser to the new funds.

Simon Hookway, Director of MSS, said: "We carefully selected whom to partner with, and based on Close having considerable experience, expertise and entrepreneurial spirit, we have selected to work with them on what we see as a very exciting opportunity for us and investors alike."

James Tracey, Director of Close Fund Services, added: "With increasing interest from investors, managers and governments in green and socially responsible funds, we are delighted to be working in partnership with MSS on its latest venture. Close are receiving a number of new enquiries from fund sponsors in this area."

Last month, M&G Investments selected Close to service its M&G Real Estate Debt Fund.

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