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Union Investment is launching a blockchain fund today. The DZ Bank subsidiary, which manages €455 billion ($493 billion) in assets, is best known as one of the most prolific investors in tokenized assets. For example, the firm invested in the European Investment Bank’s first two euro-denominated digital bonds and also bought a portion of Siemens’ public blockchain bonds.
It is relatively unusual for a new fund to indirectly commit a portion of its assets to crypto tokens (via certificates). However, the percentage is small, at most 15%. UniThemen Blockchain Fund invests most of its assets (65% to 100%) in domestic and international stocks related to blockchain, DLT, and digital assets. Bonds are also available as long as they do not exceed 20% of your assets.
“The asset structure will become even broader in the future,” said Jochen Kahler, head of alternative investment product management at Union Investment. “Alternative investment forms should also be expanded to include token-based assets.”
Last November, the asset manager invested in tokenized fund units issued by Metzeler Asset Management.
Today, another asset management firm, Hamilton Lane, announced plans to issue a new digital fund share class to its existing fund, which has approximately $4 billion in assets.
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