New Zealand Pension Fund Allocates 5% to Bitcoin

Fernando Alberca | bottom KiwiSaver Growth Strategy, which manages $350 million retirement plans, has allocated 5% of its portfolio to bitcoin, as reported by New Zealand’s Stuff News Agency. The pension fund started investing in crypto assets in October 2020, so This first purchase has already increased to 600% in just six months.

In the opinion of James Gregor, chief investment officer at New Zealand Funds Management, operator of the KiwiSaver Growth Strategy Fund, “If investing in gold sounds right to you, you can’t rule out bitcoin”. In fact, Grigor decided to include bitcoin in more investment products for his company.

Gregor also explained that the Pension Fund KiwiSaver is “built mostly on traditional assets,” but Note that “If an Opportunity Like Bitcoin Comes Up, It Shouldn’t Be Missed”. Because it’s an asset class that can “help people get the best retirement possible,” thanks to Big Revaluation Potential for Bitcoin.

For the investment manager at New Zealand Funds, although it is true that hedge funds and family offices They were the first institutional investors who dared to include bitcoin in their portfolios, pension funds had already begun to be exposed to this crypto. In this sense, it is considered that increasing the slopes of institutional access and clear regulation will help accelerate the adoption of digital assets.

In this same line it is expressed Michael Sonnenchin, CEO of de Grayscale, the managing company of several bitcoin funds and other crypto assets, which confirms this Some pension funds are already entering digital assets. Initially very modest allowances of 1 or 2%, But in recent months also notice how to do it « Size Customizations What do these retirement funds do? It was growing fast.