German bank introduces crypto fund covering portfolio of digital assets. German private bank Hauck & Aufhäuser announced its first crypto fund, the HAIC Digital Asset Fund I, to be released on 1 January 2021.
According to a report on FundView, the initiative, a collaboration with Berlin fintech Kapilendo, will target institutional and semi-institutional investors who want to invest in a portfolio of crypto assets, including Bitcoin (BTC), Ether (ETH) and Stellar (XLM).
The Fund will follow a passive investment approach with a crypto allocation ratio based on market caps and other parameters. According to the firm, the portfolio would cover 85 percent of the overall market for crypto assets.
The minimum investment in the fund is 200,000 Euros ($242,000), with no limit on the subscription period, and total ongoing fees for the fund are 2.05% of the fund volume.
Kapilendo will act as the crypto depository while Hauck & Aufhäuser is responsible for fund management. Board member Holger Sepp explained that institutional interest in crypto in Germany is growing “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.”
[image: Hert Niks]