Aug 12 (Reuters) – Asset supervisor Neuberger Berman gave its Commodity Technique Fund the inexperienced gentle to speculate not directly in cryptocurrencies, a regulatory submitting confirmed.
The $164.4 million mutual fund, which invests in commodity-linked futures contracts, can now add publicity to futures for cryptocurrencies, together with bitcoin and ether , bitcoin trusts and exchange-traded funds, the corporate stated in an U.S. SEC filing dated Aug. 11.
Its portfolio managers see cryptocurrencies as rising diversification and offering a hedge towards greater inflation, a spokesman for the fund informed Reuters.
“Accessing these markets by trade traded devices is a prudent method to acquire publicity, which the portfolio administration group will search to do over the approaching weeks and months,” the spokesman added.
The $433 billion agency beforehand stated that “the Bitcoin phenomenon is value watching carefully,” in a March weblog publish.
Different funding corporations, together with JPMorgan Chase & Co (JPM.N), have just lately given choose shoppers entry to cryptocurrency funds as bitcoin has rocketed in worth, leaping over 53% because the begin of 2021. read more
Reporting by Lisa Pauline Mattackal in Bengaluru; Modifying by Dan Grebler
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