Canada Investment Fund Manager 3IQ has partnered with Abu Dhabi-based alternative investment company Altnovel to launch the first Multi-Strategic Digital Asset Fund in the Middle East.
3IQ and Altnovel, platforms regulated by financial services regulators, announced in a May 7th launch of the Altnovel Digital Access portfolio.
This product is the first digital assets multi-strategic fund in the Middle East.
ADAP targets qualified institutional investors and reduces the correlation between traditional assets and hedge funds. It also seeks to provide investors with access to improved, risk-adjusted returns for assets such as Bitcoin (BTC) and stocks.
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Turning to diversified and balanced exposure for institutional investors, ADAP is designed to provide lower volatility and drawdowns. According to Altnovel, the fund aims for annual revenues of over 20%, but is easing drawdown to a low of 2.4%.
The new fund will be key to institutional investors looking to leverage the digital assets sector of the Abu Dhabi International Financial Centre in the United Arab Emirates. ADAP bridges local private asset markets with global investment opportunities and democratizes access through blockchain technology.
“We are pleased to announce that Altnovel’s CEO, Stergios Voskopoulos, “We are pleased to announce that we are offering a range of services and services that will enable us to provide a range of services that will enable us to provide services that will enable us to provide services that will enable us to provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services that will provide services
“Digital assets represent the next frontier in portfolio diversification, and this collaboration with sector leaders like 3IQ is in line with our commitment to providing evolving institutional-grade, highly customizable digital asset investment opportunities tailored to evolving needs.”
The launch of the fund is a recent milestone for 3IQ, a company founded in 2012. The platform was the first to announce products traded on Bitcoin and Ethereum exchanges listed on the Global Stock Exchange.
3IQ also integrated staking into Ethereum ETP and became one of the first companies to recently launch Canada’s first Solana Staking Exchange Trade Fund.
read more: 3iq and Figment launch North America’s first Solana stakeringETF
