ADDX launches first crypto product, Trovio’s digital asset fund
Singapore-based capital markets platform ADDX has launched its first cryptocurrency product, listing a digital asset fund by Australian investment manager Trovio Capital Management (TCM).
The fund aims to provide accredited investors with a reliable option for crypto investing and has put in place institutional-grade safeguards in relation to the trade execution and custody of the fund’s underlying digital assets.
The TCM Digital Asset Fund has a core position in Bitcoin and Ethereum and invests in seven other top-performing cryptos, identified through quantitative analysis. The fund recorded a net return of 215 per cent in 2020 and 205 per cent so far in 2021.
The fund has an independent administrator, auditor and custodian, and is audited regularly by KPMG.
Founded in 2017, Sydney-based Trovio Group is led by veteran bankers Jon Deane and Bob Tucker. It was formerly known as InfiniGold and had been focused on digitising precious metals.
Deane, the chief executive, has more than 15 years of experience managing risk positions for investment banks, including JP Morgan and UBS AG.
“It has been a fantastic experience bringing our flagship fund to ADDX’s MAS-regulated platform,” he said.
“We are continuing to witness significantly wider adoption and appreciation of digital assets as a standalone asset class in a diversified portfolio.
“ADDX’s platform is enabling investors to seamlessly access these asset classes, whilst reducing friction often experienced via traditional channels. We look forward to working with the ADDX team on launching our other products over the coming months.”
ADDX chief commercial officer Oi Yee Choo said that crypto was “very likely the digital gold of our age.
“There is robust demand among investors for exposure to these digital assets. The traditional world of finance tried to keep a cautious distance initially.
“But today, major financial institutions either have a crypto offering or are seriously considering one.
“We believe the time for discussing whether cryptocurrencies have a place in an investment portfolio is all but over.
“The more relevant question now is around how one should manage the risk of crypto investments, from an asset custody as well as a price volatility standpoint.
“Professionally managed crypto funds with a good track record can potentially address these risk concerns for investors.”