Rest Super becomes the first Australian fund to signal the real interest in exposing member portfolios to crypto-assets, according to a report by Business Insider on Wednesday.
- Andrew Lill, chief investment officer, stated that the fund accepted crypto, informing members that a small percentage of their funds will be invested in crypto assets.
- Lill further stated that it was a very volatile investment, and it would continue to be part of their future portfolio, starting with a fairly small allocation.
- Leaders across the market were not surprised by the announcement that was due “sooner or later” as other major funds were positioning themselves to oppose the Senate’s regulator regime.
- Rest’s public interest in cryptocurrencies comes after a series of hesitation from the chief investment officers at major funds across Australia.
Earlier in October, Queensland Investment Corporation (QIC) was reported to consider a similar exposure.