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publicado el 30 de JULIO 2009
Norton Rose Advise Gatehouse Bank on launch of SAM-Gatehouse Islamic Water Fund

International legal practice Norton Rose LLP has advised Gatehouse Bank plc, a recently established Shariah compliant UK bank, on the launch of the SAM-Gatehouse Islamic Water Fund Limited (the Fund). The Fund is a Jersey established, unregulated eligible investor fund which seeks to provide investors with a Shariah compliant return. The Fund will utilise Shariah compliant investment policies and invest in a portfolio of equities and equity related securities of companies which offer technologies, products or services that are related to the water value chain and which show an elevated degree of sustainability.
Gatehouse Bank plc has been appointed as Shariah adviser to the Fund in order to ensure the investments of the Fund remain in compliance with Shariah principles. SAM has been appointed as investment manager to the Fund.
Ian Fox, partner and head of the Investment Funds Group, Norton Rose LLP commented:
"We are witnessing an emergence of the water industry and agriculture as a major new asset for Islamic financial institutions, especially in the field of sustainable investments and we are delighted to have acted on the launch of the first Shariah-compliant water fund"
Nooman Haque, Senior Originator, Institutional Wealth Management at Gatehouse Bank plc, commented:
“We were very impressed with Norton Rose’s diligence and structured approach to the project. They coordinated the parties and their feedback as well as providing high-quality assistance in relation to technical issues. They approached the work as a genuine team-player sitting alongside us, and that was greatly appreciated.”
The Norton Rose LLP team was led by partner Ian Fox and senior associate Uzma Khan with assistance from Ed Brogan and Robert England.



 

 

 


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