Australian pension fund with $ 69 billion in Aum Eyes Crypto Investment

Australian pension fund with $ 69 billion in Aum Eyes Crypto Investment

Since the global interest in cryptocurrencies is still gaining in dynamics, Queensland Investment Corporation (QIC), Australia's fifth largest pension fund manager has 92.4 billion AUD (69 billion in the future.

Stuart Simmons, Curriculary of QIC, said the Financial Times in a Interview Today.

regulatory uncertainty is frightened by Australian "super"

Due to the massive growth of the cryptom market recently, several institutional and family offices had occupied positions at an early stage by investing in the asset class.

Australia's so -called super funds that manage the pension of millions of people were skeptical about investments in cryptocurrencies.

Simmons found that this skepticism compared to crypto-assets on the part of the supers is due to the uncertainty about how governments will intervene worldwide into the rapidly growing industry.

"At the moment there are a number of uncertainties and the operational infrastructure for institutional investments is still immature," said Simmons.

Investor protection to promote investments

For the CUCTION CEO of the QIC, most major investors need regulatory security in relation to their protection against asset theft and market manipulation before they would invest in cryptocurrencies.

With this guaranteed protection, Simmons said: "I don't think that super funds and the institutional market that invest in crypto are inevitable, but if the segment matures.

North American pension managers loosen

While several conservative pension fund managers have decided to stay away from cryptocurrency investments, only a few, especially in North America, have received an engagement in the investment class.

In the United States, two pension funds - the Fairfax County Police Officers Retirement System and the Fairfax County Employees' Retirement System - have set directly on the investment class by participating in Parataxis Capital Management.

Likewise, the Caisse de Dépôt et Placement du Québec (CDPQ), Canada's second largest pension fund, belonged to the main investors who are at the recently completed $ 400 million finance round for the popular cryptocurrency credit company Celsius Network.