Morgan Creek’s Fund Expands as Exposure from Fairfax Retirement System Pension Fund Doubles
Two pension funds from the Fairfax Retirement System, known as the Police Officer’s Retirement System and the Employees’ Retirement System, have recently decided to double their investments in the crypto industry. Now, as reported by Coindesk, these two companies have decided to take up to 1% of their assets from Morgan’s Creek crypto funds.
According to the reports, the two companies have invested around $55 million USD in the fund last month. They did this after seeing the results that of the first investment. Most of the investments of the Morgan Creek fund are in blockchain and crypto-related enterprises.
Katherine Molnar, the Chief Investment Officer of the police’s fund, believes that Morgan Creek timed very well the moment to buy Bitcoin, deciding to acquire it while it was trading low and seeing the quick increase in price appear soon after that.
She also affirmed that the fund managers did not have to give many explanations about the plan, as everybody was pleased with how good the performance was.
Andy Spellar, the person in command of the employee’s fund, claims that this is the time to invest in technology venture capital. Pension funds are having a very low-interest rate with the current economy, so doubling down on the investment in digital assets has been a great idea so far.
The fund manager sees any investment in disruptive technology as basically a hedge against traditional investments, so looking for innovation is one of the best ideas because it is a bet against the assets that they already own. This negates some of the risks of investments.