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German Bank Rolled Out Fund Having Coverage of The Majority of Digital Assets

By Jenny Aurora | December 17, 2020

Private bank from Germany Hauck & Aufhäuser reportedly disclosed details regarding its first crypto fund, which will cover the majority (85%) of the overall digital asset market. 

Specifically, the project, which goes by the name the HAIC Digital Asset Fund I and will be officially available at the start of next year, is reportedly a joint initiative between Hauck & Aufhäuser and local fintech firm Kapilendo. 

The project will reportedly cater primarily to institutional and semi-institutional investors, who are having desires to make investments in a portfolio of crypto assets, including Bitcoin (BTC), Ether (ETH) and Stellar (XLM).

The fund will reportedly employ a passive investment strategy, with a crypto allocation ratio using market cap and a variety of criteria as base. Per the firm, the portfolio will have coverage for a majority (85%) of the overall digital asset market. 

The lowest investment sum in the fund would reportedly be 200,000 Euros ($242,000), with no limit regarding the subscription timeline, and the overall ongoing fees for the fund are 2.05% of the fund volume.

Kapilendo will reportedly take up the responsibility of a crypto depository, while Hauck & Aufhäuser will be in charge of fund management. 

Board member Holger Sepp reportedly provided his explanation, stating that German-based institutional interest level in crypto is currently on the rise.

“We are seeing that digital assets and cryptocurrencies are becoming increasingly attractive with 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.”

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