Collas Crill has advised GemCap Investment Funds (Ireland) plc (GemCap) in relation to the launch of the Affinity Sustainable Growth Fund, the latest addition to its portfolio of sub-funds within its UCITS Umbrella structure, a $4bn platform domiciled in Ireland.
The Irish-domiciled solution is categorised as an Article 8 fund, as defined by the EU Sustainable Finance Disclosure Regulation (SFDR). The undertakings for the Collective Investment in Transferable Securities (UCITS) regulatory framework creates a harmonised regime throughout Europe for the management and sale of mutual funds which are registered in Europe, and sold to investors utilising unified regulatory and investor protection requirements.
Affinity Private Wealth (Affinity), the Jersey-based independent wealth management business, utilises APW Investors Limited, Affinity's licensed investment business, as the appointed investment manager of the Affinity Sustainable Growth Fund. The Affinity Sustainable Growth Fund is therefore managed locally in Jersey and invested globally.
Affinity have partnered with Durrell Wildlife Conservation Trust to share fee revenue from all their sustainable strategies, including the Affinity Sustainable Growth Fund.
Collas Crill Partner Sam Sturrock and Associate Khetha Shezi provided advice on Jersey law, while Consultant Paul Wilkes provided advice on Guernsey law.
Sam said: "We were delighted to advise on the launch of this new fund focusing on sustainable strategies that are aiming to make a wider positive impact.
"It's great to see local success stories like Affinity go from strength to strength, partnering with large non-Jersey funds and exporting their expertise to a global market. The value of total net assets within UCITS funds as at the end of 2022 was approximately €12 trillion so on a broader basis, this is a terrific opportunity for Jersey investment managers to assist and access a massive investor base.
"This is a growing trend and we were proud to play our small part in helping GemCap and Affinity launch this project. Huge congratulations to them on this exciting development."
Managing Director of Affinity Ben Stott said: "Given the success of our sustainable growth strategy, we wanted to provide broader access to the expertise we have built. Facilitating this through regular savings, such as pension contributions, was an important objective for us too.
"The launch of our UCITS fund means individuals with smaller sums to invest can choose to direct capital for positive change. We hope employers will also be encouraged to offer sustainable pension choices to their staff."