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Australian pension fund Rest Super to invest in crypto

Wed 24 Nov 2021 ▪ 14h10 ▪ 3 min read — by Felix Meyer

Andrew Lill, Chief Investment Officer at the Australian pension fund Rest Super, revealed the firm’s plans to invest in digital assets. The news came just in time — a mere two days have passed since the global pension fund industry called cryptos way too risky.

First to go

Rest Super will become the first major pension fund in Australia to dip its toe into crypto investments. This indicates the long-awaited warming of regulatory attitudes towards digital assets and a brand new wave of crypto adoption among institutional investors. 

Rest Super hasn’t yet revealed the details of the new strategy, for instance, whether it will be a spot acquisition or a Bitcoin (BTC) ETF.

The fund’s representatives point out they aren’t looking for long-term investments and hope cryptos will turn out to be quite a sufficient tool for the firm managing $66 billion (~£49 billion).

“It’s still a very volatile investment, so any allocation exposure we make to cryptocurrencies is likely to be part of our diversified portfolio as initially a fairly small allocation that may, over time, build,” Andrew Lill stated. “We see it as a very interesting and important part of our portfolio going forward into the future.”

Australia is no exception to Western countries, where private pension insurance has become a mandatory rule. People direct part of their income to funds aiming to increase their capital through competent investments. The Australian market wasn’t really taken aback by the Rest Super’s statement, as most players have expected such crypto initiatives.

“So, it might seem to us like it may take five or 10 years for super funds to allow their investors to get crypto exposure,” he said. “But I think if one goes, then all of a sudden you see a few others get into it.”

More crypto to the world’s economies!

Until now, quite a large sector of the world’s economy has been extremely cautious about cryptocurrencies. Yet the situation is changing for good, especially in advanced economies. 

Back in early November, the largest Australian bank, Commonwealth Bank, announced support for 10 cryptos would be soon added to the app. According to the latest data, 26% of cryptocurrency holders in the country are planning to gift cryptos to their dearest and nearest for Christmas.

Cryptos are taking over the world! Australian funds have finally turned to crypto investments, the first one to be Rest Super. Its CIO has just announced the pension fund’s new investment strategy involving digital assets, although not for a long term. 

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Felix Meyer avatar
Felix Meyer

Le trading et l'analyse technique sont mes spécialités depuis 4 ans. Je décortique le marché et vous partage mon expertise.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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