Luxembourg cryptocurrency fund of funds opens to qualified investors
A new Luxembourg domiciled open-ended fund of funds is now open for investment to qualified investors, it will invest in a carefully selected portfolio of blockchain/cryptocurrency investment funds, which apply a variety of strategies within the sector and have a combined AUM of over USD $500m. The Fund will provide unique diversification and apply traditional/rigorous due diligence for investor’s peace of mind.
The Fund’s management company, Block Asset Management S.à.r.l., is domiciled in Luxembourg and registered with the CSSF. Block Asset Management has already received substantial commitments from global asset managers and family offices ready for launch and it continues to actively seek further investment.
Block Asset Management’s Founder and director, Kevin Ballard, said:
“Feedback from professional and institutional investors is that whilst they acknowledge their understanding of this sector is fairly limited, they do recognize it can generate high returns (albeit in a high-risk environment). Investors have also been hesitant due to difficulties in selecting a single strategy or manager. This is compounded by a lack of funds that offer diversification or any material performance history. This feedback made Manuel and I realize that by providing a more diverse investment opportunity BAM would provide an intelligent solution to the concerns investors have when they consider this exciting new space.”
Mr. De Luque Muntaner, Block Asset Management’s CEO, added:
“We knew that many funds existed in the crypto space, but most would clearly not pass any comprehensive, serious due diligence. However, relying on Block Asset Management’s team, we successfully completed months of extensive analysis of dozens of funds and eventually approved the best funds for inclusion in the fund” He continued “Market research also made it very clear that investors preferred a Luxembourg investment vehicle with independent, third-party service providers: custodian, administrator, and auditor. For BAM this was of paramount importance”
Block Asset Management believes that we are in the early adoption stage of cryptocurrency/blockchain technology and that investor demand will increase dramatically further enhancing values. Via the Fund, investors gain diversified exposure to this dynamic new asset class by way of the fund’s unique five-prong investment approach: exposure to tracking/index, trading, mining, lending and ICO funds through carefully selected managers and funds.
