Funds of funds come calling in crypto
In the world of hedge funds, the fund of funds went out of style in the wake of the 2008 market crash. In the world of crypto, they have yet to take off. But more firms are launching crypto funds of funds, in the belief that this is the best vehicle to attract the long-awaited, ever-elusive institutional investor.
The latest is Portal Asset Management, a Cayman Islands-domiciled firm whose principals are licensed to manage money in Singapore. “Our message is about low correlations,” said Deryck Graham, CEO and founder (pictured). “That’s what institutions understand. The market wants a traditional entry into this space.”