AltNovel, an Abu Dhabi-based private markets platform regulated by the Financial Services Regulatory Authority (FSRA), announced a partnership with 3iQ, the global digital asset investment manager, to launch the AltNovel Digital Access Portfolio, described as the first-ever digital asset multi-strategy fund in the Middle East.
The digital asset hedge fund seeks to deliver high absolute returns with a reduced correlation to traditional assets and hedge funds.
It also seeks improved risk-adjusted returns versus other assets such as Bitcoin, stocks and other digital assets.
“It aims to deliver lower volatility and drawdowns relative to long-only digital assets targeting annualised returns of over 20 per cent and mitigating drawdowns to as low as 2.4 per cent,” AltNovel said.
Designed for professional qualified investors, the fund will combine 3iQ’s expertise in digital asset management with AltNovel’s innovative portfolio structuring to offer a diversified and balanced exposure to this rapidly growing asset class, it said.
“This partnership is a milestone for AltNovel as we continue to focus on bringing high-quality investment solutions to private investors in the GCC from our home in the ADGM,” said Stergios Voskopoulos, CEO of AltNovel.
“Digital assets represent the next frontier in portfolio diversification, and this collaboration with a sector leader like 3iQ aligns with our commitment to offering forward institutional-grade, highly customisable digital asset investment opportunities tailored to their evolving needs,” he said.
Pascal St-Jean, President and CEO of 3iQ, said that as part of its global expansion plan, the company is excited to partner with AltNovel to bring its expertise in risk management and digital asset strategies to the region.
“The United Arab Emirates is at the forefront of financial innovation and robust digital assets regulation. We are seeing an increasing demand for institutional risk-managed solutions,” he said.
The companies said the fund will provide diversified exposure to digital asset investment strategies with the objective of reducing volatility while delivering superior returns.
