An investment firm with hundreds of billions of dollars worth of assets under its management is reportedly looking to launch a crypto hedge fund by the end of the year.
According to a new report by Bloomberg, Man Group, the world’s largest publicly-traded investment company, is planning on rolling out its own digital assets hedge fund.
Anonymous sources say the strategy for the crypto hedge fund is being spearheaded by Andre Rzym, a partner and portfolio manager at Man AHL, Man Group’s technology-powered investment arm.
The sources also say that the new crypto fund would be started by Man AHL. Currently, Man Group uses AHL to invest in crypto derivatives and will only launch the fund after the firm evaluates counterparty risks, according to the report.
The report says that Rzym, who has been with the firm since 2005, has been entrusted by the $138.4 billion asset manager to develop new trading models and identify alternative markets.
Man Group is aiming to launch the virtual currency fund by the end of 2022 despite a tumultuous year for the industry, one which saw the collapse of many prominent projects and firms in the space such as stablecoin issuer Terra (LUNA), crypto hedge fund Three Arrows Capital (3AC) and digital asset exchange FTX.
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Source: https://dailyhodl.com/2022/11/21/138400000000-asset-manager-gearing-up-to-launch-new-crypto-hedge-fund-by-end-of-year-report/