Paris-based asset manager, Tobam, has launched its TOBAM BTC-Linked and Blockchain Equity fund, which focuses on bitcoin and blockchain.
The fund is designed to provide insurance vehicles with unit-linked access to the performance and diversifying benefits of bitcoin and the blockchain ecosystem.
It combines two areas of historical expertise for Tobam which includes the management of bitcoin investments – a key focus area for the company since 2018 - and the systematic management of a portfolio of shares utilising proprietary expertise that has been successfully employed by the firm for more than 15 years.
The fund will allocate up to 10% of its assets to bitcoin. The exposure will be managed through the Tobam Bitcoin CO2-Offset fund, which has offered investors carbon offset exposure to bitcoin since 2017.
From a regulatory perspective, the fund is approved by the AMF, and it is the first French fund to use the possibilities offered by the PACTE Law in regard to crypto-asset investments. It is also eligible for French life insurance contracts.
Christophe Roehri, deputy CEO of Tobam, said: “Since 2017, Tobam has offered a fund invested in bitcoin to qualified investors. The adoption of bitcoin and blockchain technologies has accelerated dramatically in recent years, creating exceptional opportunities.
“Managed with rigor and professionalism, TOBAM believes exposure to this theme can bring, if it continues, significant benefits in terms of yield and diversification. We are pleased to be able to provide access to it through Life Insurance today.”
The fund will also invest in international equities based on Tobam’s analysis of correlated to changes in the price of bitcoin. These may include listed shares of companies with commercial activities related to bitcoin, such as mining or brokerage, or those with bitcoins on their balance sheets.
Tobam’s investment strategy is designed to maximise diversification. Its Maximum Diversification approach which is backed by research and mathematics provides clients with diversified core exposure in equity and fixed income markets. As of June 30, 2021, the company manages over $10 billion (€8.2 billion).
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