TOBAM, a Paris-based asset manager and founder of the Maximum Diversification approach, has launched a new fund focused 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.
The TOBAM BTC-Linked and Blockchain Equity fund combines two areas of historical expertise for TOBAM: the management of bitcoin investments, which has been an area of focus for TOBAM since 2017, and the systematic management of a portfolio of shares utilising proprietary expertise that has been successfully employed by TOBAM for more than 15 years.
The fund may allocate up to 10 per cent of its assets to bitcoin. This exposure is managed through the TOBAM Bitcoin CO2-Offset Fund which, since 2017, has utilised TOBAM’s ability to offer qualified investors rigorous, efficient, transparent, and now a carbon offset exposure to Bitcoin.
The fund also invests in international equities which, based on TOBAM’s analysis, are 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. This allocation aims to provide exposure to the growing adoption of Bitcoin and blockchain.
From a regulatory perspective, the TOBAM BTC-Linked and Blockchain Equity fund, approved by the AMF, is the first French fund to exploit the possibilities offered by the PACTE Law with respect to investments in crypto-assets. It is eligible for French life insurance contracts.
Commenting on the launch of the new fund, Christophe Roehri, Deputy CEO of TOBAM, says: “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.”
