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Sustainable Islamic finance

The Sustainable Resources Fund, headquartered in Luxembourg, launches later this month and, according to the PR, ‘brings together considerable experience and expertise with its professional team of Fund Advisors.’ Sustainable Capital aims to raise $100m in the open-ended fund that will invest in agricultural, biomass and forestry. The ultimate aim is to raise $250m and the fund will seek at least two distributors in the GCC with one focused on KSA.

The fund aims to balance high reward assets in Asia and Africa, with cash generating projects in Europe and America and in so doing anticipates a target net return of 15 per cent for investors using a mix of agro-forestry, land and sustainable agricultural investments.

Jean Hubert heads up the Luxembourg office and has over 20 years hands-on experience in forestry and agriculture investment advisory functions, project management and land transactions. During this time he has been involved in acquisitions and management on behalf of institutional investors, large funds and wealthy private clients.

After more than 20 years global banking and finance experience, the last eight being in Asian capital markets and the Middle East, Alex Mond will head the Islamic structuring and investment team for the Sustainable Resources Fund. Equipped with an MBA from Boston University and full Islamic certification by both the Indonesian Shari’ah board and the Bahrain certification and research board his presence has been indispensable in securing Shari’ah compliance for the fund. Mond is retained in Singapore as a permanent advisor to the fund.

Michael Young from the UK brings more than 16 years of investment funding and industry experience to the fund having worked in London, the Middle East and Asia for companies including; INVESCO Asset Management; Prudential; Standard Life; Baring Asset Management and SHUAA Capital Saudi Arabia.

Andrew Ramage joins the Sustainable Resources Fund after a career working in the UK as an FSA Regulated Individual for over 24 years, culminating in managing the successful Zurich franchise City Financial Edinburgh. In addition to his senior role with SRF Andrew is a Director of Iris Strategic Land Fund Ltd in Gibraltar, and a management consultant to City Financial Independent LLP.