Block Asset Management Sarl- launches Blockchain Multi Strategy Certificate
LUXEMBOURG-domiciled and CSSF registered AIFM Block Asset Management has created its first blockchain multi-strategy certificate, just one year on from the launch of its successful blockchain/cryptocurrency fund of funds.
The open-ended tracker certificate is listed on the Vienna Stock Exchange (Wiener Borse) and will track the performance of Block Asset Management’s blockchain and crypto fund, which invests in a carefully selected portfolio of blockchain and cryptocurrency investment funds.
Block Asset Management’s founders and directors, Manuel E. De Luque Muntaner and Kevin Ballard, said that they are “thrilled to be able to bring to market a listed blockchain and crypto-focussed certificate that will allow global asset managers and institutional investors to access this exciting and dynamic asset class”.
“After a year of marketing our blockchain and crypto fund of funds, a year which included hosting blockchain and crypto conferences in Montevideo, Sao Paulo and Panama City, as well as presenting at events such as The Malta Blockchain Summit and The Isle of Man Blockchain Summit, we found that feedback on our diverse approach and rigorous multi-layer due diligence was overwhelmingly positive,” added Ballard.
“However, asset managers required a listed note or certificate for ease of purchase. Also, in order to access Swiss Asset Managers, we required Swiss Fund representation. Via the tracker certificate we have broken down these barriers and provided the solution.”
De Luque Muntaner added: “Given the performance of the crypto market in 2018, and after the bull run of 2017, investors remain hesitant despite current market conditions offering, what many in the space see as a buying opportunity.”
Mr Ballard added that the product was the result of more than a year of global market research, during which time the firm realised that there was “extremely high” interest in the blockchain/crypto space.
“However, feedback from professional and institutional investors is that whilst they acknowledge their understanding of this sector is fairly limited, they do recognise it can generate high returns (albeit in a high-risk environment),” Ballard added.
“Investors have also been hesitant due to difficulties in choosing a single strategy or manager. Furthermore, a lack of diversified funds can make this task more difficult. As a result of this, Manuel and I realised that we could offer a more diverse investment opportunity via BAM, which would provide a smart solution for all investors who are considering this exciting new space.”
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