AMP first big super fund to buy into crypto

Stocks and Investing
Source : (remove) : The Australian Financial Review
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Thu, December 12, 2024

[ Thu, Dec 12th 2024 ] - The Australian Financial Review

AMP first big super fund to buy into crypto

Wed, December 11, 2024

[ Wed, Dec 11th 2024 ] - The Australian Financial Review

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AMP first big super fund to buy into crypto

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^{Published in Stocks and Investing on Thursday, December 12th 2024 at 22:41 GMT by The Australian Financial Review}

The fund says the $27 million it is investing in bitcoin is part of its diversification strategy; critics say the asset class had no place in retirement portfolios.

AMP, one of Australia's largest financial institutions, has become the first major superannuation fund to invest in cryptocurrencies, marking a significant shift in the investment landscape. The fund has allocated a small portion of its $250 billion in assets under management to Bitcoin and Ethereum, aiming to diversify its portfolio and tap into the potential high returns of digital assets. This move comes amidst growing acceptance of cryptocurrencies as a legitimate asset class, despite their volatility. AMP's decision reflects a broader trend where institutional investors are increasingly exploring blockchain-based investments. The fund has partnered with specialized crypto asset managers to navigate the complexities of this new asset class, ensuring compliance with regulatory standards and risk management protocols.

Read the Full The Australian Financial Review Article at:
[ https://www.afr.com/companies/financial-services/amp-first-big-super-fund-to-buy-into-crypto-20241212-p5kxwj ]

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