All professional and semi-professional can invest through the fund in a diversified crypto assets portfolio comprising of Bitcoin, Ether, and Stellar.
While we have been hearing about financial institutions warming up to crypto this year in 2020, even traditional are following the cue. On Thursday, December 3, German bank Hauck & Aufhauser said that it will launch its cryptocurrency fund as soon as January 2021.
To launch this cryptocurrency fund, Hauck & Aufhauser has collaborated with Berlin-based FinTech startup Kapilendo. Hauck & Aufhauser has decades of experience offering services for capital management and portfolio management. On the other hand, Kapilendo has earned a name for offering secure crypto depository services.
Dubbed as the HAIC Digital Asset Fund I, the fund pursues a passive investment strategy. Thus, the allocation of crypto values to the fund will depend on the existing market cap and other qualitative and quantitative factors. The new fund shall be available excluding through Hauck & Aufhäuser and Kapilendo Invest AG. Also, the minimum investment requirement for the same is 200,000 EUR.
Speaking about the new development, Dr. Holger Sepp, member of the board of Hauck & Aufhäuser said:
“We see that digital assets and cryptocurrencies are becoming increasingly attractive among institutional investors. With the launch of our first crypto fund, together with Kapilendo, we have created an innovative investment vehicle that gives our customers inexpensive and secure access to the new crypto asset class while meeting the established quality standards and high demands of Hauck & Aufhäuser”.
Hauck & Aufhauser to Help in Creating a Cryptocurrency Portfolio with Its Fund
In the official announcement, the German private bank states that all professional and semi-professional can invest via the fund. This fund will allow investors to invest in a targeted and cost-effective way in a diversified crypto portfolio. This will include some of the leading crypto-assets like Bitcoin, Ether, and Stellar.
Also, the fee charged is competitive to the industry standards. Clients will need to pay 2.05% of their investments as fees. The announcement also notes that the bank has recently found an investment company for incubating Germany-based startups. Jens Siebert, Chief Solution Officer of Kapilendo AG said:
“The new HAIC Digital Asset Fund I is an exciting tech investment and designed as a portfolio addition for institutional investors. Kapilendo takes over the custody of the crypto assets for the HAIC Digital Asset Fund I. In its function as a crypto depository, Kapilendo Crypto AG is tied into all relevant asset servicing interfaces and technically seamlessly integrated”.