Union Investment is launching a blockchain fund today. With €455 billion ($493bn) in assets under management, the subsidiary of DZ Bank is best known as one the most prolific investors in tokenized assets. For example, it invested in the first two European Investment Bank euro-denominated digital bonds, as well as purchasing some of the Siemens public blockchain bond.
It is relatively unusual that the new fund will commit some of its assets indirectly to crypto tokens (via certificates). However, it’s a small proportion of up to 15%. The UniThemen Blockchain fund will invest most (65%-100%) of its assets in domestic and international stocks related to blockchain, DLT and digital assets. Bonds are also on the cards, provided they don’t make up more than 20% of assets.
“The asset structure will become much broader in the future,” said Jochen Kerler, Head of Alternative Investments in Product Management at Union Investment. “Alternative forms of investment should also be expanded to include token-based assets.”
In November last year the asset manager invested in tokenized fund units issued by Metzler Asset Management.
Today another asset manager, Hamilton Lane, announced plans to issue a new digital fund share class in an existing fund with almost $4 billion in assets.
