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Estera achieves Green Fund status for first London-listed investment fund

Estera, a leading global fund administration and fiduciary services provider, has successfully advised Bluefield Solar Income Fund on its application for accreditation as a Guernsey Green Fund. 

Bluefield Solar is the first London-listed investment fund to successfully achieve Guernsey Green Fund status. Estera is one of Guernsey’s leading fund administrators, and has an experienced and sizeable team overseeing a full service provision to a wide variety of funds. 

Estera is the fund administrator for long-standing client Bluefield Solar Income Fund, and has extensive experience in administering London-listed funds. In addition, Estera has a wealth of specialist experience in renewables and ethical fund administration, and services multiple clients in these sectors. 
Kevin Smith, Director at Estera, says: “Assisting Bluefield Solar Income Fund in the application for Guernsey Green Fund status was a natural step for us and we are thrilled that they are the first London-listed Guernsey Green Fund. The Guernsey Green Fund presents a significant opportunity for environment-focused funds, and for Guernsey as a leading, specialist funds jurisdiction. Bluefield’s Green Fund accreditation means that their investors can be assured that their investments have a positive environmental impact, monitored against internationally recognised criteria.”
Bluefield Solar has been deemed to meet green fund criteria. Independent certification was provided by KPMG Channel Islands Limited as part of the application process. At least 75 per cent of Bluefield Solar’s assets meet the Guernsey Green Fund rules and the fund has the ultimate objective of mitigating environmental damage, resulting in a net positive outcome for the environment.
Bluefield Solar invests in more than 80 UK-based solar assets. It has one of the largest diversified portfolios of solar assets in the country, targeting long-life solar energy infrastructure which is expected to generate stable renewable energy output over a 25-year asset life.

James Armstrong, from Bluefield Partners LLP, Investment Adviser to the Fund, says: “Bluefield is pleased to support this initiative. Environmental, Social and Governance issues are of increasing importance to investors and as we witness the growth in environmental themed funds it is vital that investors are able to easily, and transparently, see a fund’s green credentials. We expect the Guernsey Green Accreditation criteria will help investors make informed decisions about a fund’s environmental impact set against a globally recognised standard.”

The Guernsey Green Fund launched last year as the world’s first regulated green investment fund product.  With core skills and experience in this sector Estera is extremely well placed to work alongside fund managers to ensure they measure up against the internationally recognised green fund criteria.   

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