Helvetic Investments has launched a regulated, open-ended cryptocurrency fund, the Cryptocurrency Balanced Large Cap Fund SP, which it says is the first Asian institutional grade, diversified, crypto investment fund.
The fund will provide family offices, accredited and institutional investors access to an emerging asset class, via a traditional investment vehicle. It will invest primarily in a diversified basket of the top 15 cryptocurrencies. This will be consolidated with limited investment in the dividend yielding equities or coupon yielding bonds of companies and countries who are adopting distributed ledger and blockchain technology.
Professional services support will be provided by auditors KPMG, along with tax advisory and custody services from well-known international service providers.
The fund has defined an industry standard for the insured, safe-keeping of crypto assets. The proprietary offline safe-keeping and audit solution is delivered in partnership with Le Freeport Singapore, whose operations boast private vault rooms, physical access control, electronic monitoring, an audit trail and 24-hours armed protection.
Market capitalisation of cryptocurrencies has seen tremendous growth in 2017, starting the year at USD20 billion to reach over USD300 billion in November. Bitcoin, the best-known of the cryptocurrency class, broke the USD11,000 mark in trading last month. There are currently 16 different cryptocurrencies with a market capitalisation of over USD1 billion. With total 24hour trading volume in excess of USD13 billion, this makes the new asset class sufficiently liquid for institutional investing.
"We see the investment opportunity, bringing traditional fund activities to the emerging asset class of cryptocurrency,” says Peter Stilli, CEO Helvetic Investments. "With the announcement from CME Group and Chicago Board Options Exchange (CBOE), this shows the maturing of the cryptocurrency market."
Ville Oehman, Crypto Fund Manager Helvetic Investments, says: "We are responsive to our client demands for an institutional grade well-managed cryptofund. Our team brings together experienced wealth managers with cryptocurrency experts, to actively manage a diversified investment strategy. We are well positioned to capitalise on this opportunity for our clients. "
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