Cross Light Capital Partners with Affin Bank to Launch Malaysia’s First Digital Asset Fund
Cross Light Capital, a local fund management company, has joined forces with Affin Bank to launch Malaysia’s first digital asset fund.
According to a report from The Edge Malaysia, the Performa Digital Asset Fund is geared towards granting exposure to digital assets via exchange-traded funds (ETFs) and exchange-traded products (ETPs), with a target demographic of premier banking clientele.
Exclusively accessible through Affin Bank’s invitation-only Affin Invikta suite, the fund ventures into investments in Bitcoin, Ether, and blockchain-related entities via publicly traded investment instruments.
Notable allocations within the fund include stakes in companies like Coinbase Global Inc. and Ubisoft Entertainment SA.
Cross Light Capital has disclosed that the Performa Digital Asset Fund employs an equitable distribution strategy, with one-third of investments designated for bitcoin ETPs, another third for ether ETPs, and the residual portion for equities tied to blockchain endeavors.
“Our actively managed approach allows us to navigate the digital asset space effectively, providing our clients with a sophisticated investment vehicle beyond traditional asset classes,” Jason Lee, CEO and Chief Investment Officer of Cross Light Capital, said.
The fund caters predominantly to sophisticated investors with a pronounced risk appetite, foreseeing a potential drawdown ranging from 30% to 60% within any given one-year period.
Investors are advised to adopt a long-term outlook spanning five to ten years.
The fund necessitates an initial minimum investment of US$1,000, coupled with an upfront sales charge of up to 5% and an annual management fee of 2%, while omitting withdrawal charges.
Acting as the fund’s trustee is MTrustee Bhd, with Crowe
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