Introduction of the AltNovel Digital Access Portfolio
In a significant development for the investment landscape of the Middle East, Canadian investment management company 3iQ has partnered with AltNovel, an Abu Dhabi-based alternative investments firm, to introduce the region’s inaugural multi-strategy fund focusing on digital assets. Announced on May 7, the AltNovel Digital Access Portfolio (ADAP) is designed to cater to qualified institutional investors, aiming to provide a unique investment approach with reduced correlation to traditional financial assets and hedge funds.
Objectives and Structure of the ADAP Fund
The ADAP fund seeks to enhance risk-adjusted returns, promising better performance compared to conventional assets such as Bitcoin (BTC) and equities. Aimed at delivering a diversified and stable investment experience, the fund is structured to minimize volatility and potential losses, targeting annualized returns of at least 20% while keeping drawdowns to a mere 2.4%. This new offering is particularly relevant for institutional investors in the United Arab Emirates’ Abu Dhabi Global Market, providing a bridge between local wealth and international investment opportunities through blockchain technology.
Leadership Insights
Stergios Voskopoulos, the CEO of AltNovel, highlighted the significance of this collaboration, stating that it marks a key advancement for the company in its mission to provide top-tier investment solutions within the Gulf Cooperation Council (GCC). He expressed confidence in digital assets as a promising avenue for portfolio diversity and commended 3iQ for its expertise in this sector, aligning their strengths to meet the evolving demands of institutional investors.
A Milestone for 3iQ
The launch of the ADAP is a notable achievement for 3iQ, which has been paving the way in the digital asset investment sector since its inception in 2012. The firm previously made headlines by being the first to offer a Bitcoin and Ethereum exchange-traded product on a global stock exchange and has further expanded its portfolio with staking features in its Ethereum ETP and the introduction of a Solana staking ETF in Canada.
