Although the Chinese government bans all things crypto, there is plenty of lure for Chinese crypto enthusiasts to invest in the digital asset through the Hong Kong route.
Hong-Kong headquartered global blockchain solutions company, Diginex, has today announced the signing of a new agreement for the acquisition of a majority ownership stake at Bletchley Park Asset Management (BPAM) firm. The new deal will have Diginex own a 75% stake in the Jersey-regulated digital asset hedge fund, with the focus on the fundamental need to invest in digital assets and pure alpha market-neutral strategies.
Through the acquisition, Diginex hopes to combine their global footprint with BPAM's expertise in the investing of emerging digital assets. Further details indicate that BPAM will remain a stand-alone hedge fund during the post-acquisition phase.
“The BPAM acquisition is a logical progression in the build-out of our financial services offering. During our research for the pending launch of our multi-manager platform, BPAM stood apart from many funds that we interviewed as being truly institutional in their approach to asset management, “said Diginex CEO Richard Byworth.
Diginex intends to add the firm to its financial services product suite set for launch in 2019. The suite handles asset management, corporate finance, insured and insured custody on behalf of Diginex customers. A full multijurisdictional regulated exchange is also part of the launch.
“Our ongoing strategy in this space continued to be sustainable and focused on the long-term, through investment in the infrastructure that allows for the adoption of blockchain technologies and the digital asset class, “adds Byworth.
Since its inception on September 1st, 2017, BPAM's investment strategy has had a return of 4.6% inclusive of the fees. In comparison to the average yield of Bitcoin and Ethereum over the same period of -10.2, BPAM seems like a logical investment vehicle for Diginex.
The fund employs a growth-oriented fundamental investing, market-neutral arbitrage, and strategic ICO participation. The Jersey-based fund management firm is run by Mr. Lewis Fellas, a former portfolio manager at the Harvard Management Company. With over 19 years of experience in investing, research and trading experience, Mr. Fella's impressive track record of positive returns was the cause for founding BPAM.
“We launched BPAM because we saw the difficulties faced by the investors when entering this emerging asset class, namely significant technology requirement for security, counterparty risk and information transparency. We created a regulated investment product that provides investors easy access in a familiar hedge fund format to an exciting emerging asset class.”
The BPAM CEO further explores the possibilities presented by the upcoming collaboration with Diginex:
“Now, with today's announcement, we will be able to provide further investment products and access more investors across the globe utilizing the Diginex network. Investors seeking to participate in the exponential growth of digital assets want the security of institutional-grade risk management, the comfort of investing in a regulated vehicle with a seasoned fund manager, and the highest quality of client service.
We look forward to being part of the Diginex family.”