Skye Investment Fund SPC has launched Perennial, a Shariah-compliant segregated portfolio established within the Cayman Islands fund structure, according to law firm Campbells, which advised on the fund’s structuring and launch.
Perennial is designed to pursue long-term capital appreciation and income through a mix of Shariah-compliant assets, including stocks, sukuk and commodities. Investments must comply with Islamic finance principles at the time they are made and on an ongoing basis, Campbells said.
The portfolio operates within a Cayman Islands segregated portfolio company, a structure that provides statutory separation of its assets and liabilities from other portfolios within the same company. Perennial has its own share classes, fee arrangements and Shariah governance framework.
Amanie Advisors Ltd., based in the Dubai International Financial Centre, serves as the fund’s Shariah adviser and is responsible for screening, compliance monitoring, ongoing advice and annual certification. Victoria Capital Management (Mauritius) Ltd. has been appointed investment manager, while Mauritius-based AlphaInvest Ltd. serves as investment adviser.
Campbells said investment allocations will be managed using a combination of an internally developed algorithmic model and human investment expertise. Robert Searle, Campbells’ head of corporate in Hong Kong, said the segregated structure was intended to keep investors’ capital separate from non-Shariah-compliant assets or activities elsewhere on the broader fund platform.
