Nikolas Sargeant
Cross Light Capital, a local fund management company, has teamed up with Affin Bank to launch Malaysia’s inaugural digital asset fund.
According to The Edge Malaysia, the Performa Digital Asset Fund aims to provide exposure to digital assets through exchange-traded funds (ETFs) and exchange-traded products (ETPs), targeting premier banking clients.
The fund is available exclusively through Affin Bank’s invitation-only Affin Invikta suite and invests in Bitcoin, Ether, and blockchain-related companies via publicly traded investment instruments. Notable allocations include investments in Coinbase Global Inc. and Ubisoft Entertainment SA.
Cross Light Capital Allocates One-Third of Investments to ETPs
Cross Light Capital has revealed that the Performa Digital Asset Fund uses an equitable distribution strategy, with one-third of investments dedicated to bitcoin ETPs, another third to ether ETPs, and the remaining portion to blockchain-related equities.
“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,” said Jason Lee, CEO and Chief Investment Officer of Cross Light Capital.
The fund is designed for sophisticated investors with a high-risk tolerance, anticipating potential drawdowns of 30% to 60% within a year. Investors are encouraged to maintain a long-term perspective of five to ten years.
The fund requires a minimum initial investment of US$1,000, with an upfront sales charge of up to 5% and an annual management fee of 2%, but no withdrawal charges.
MTrustee Bhd acts as the fund’s trustee, Crowe Malaysia PLT serves as the external auditor, and Interactive Brokers LLP is the prime broker and custodian.
Calvin Goon Cheng Yu, Head of Wealth Management at Affin Bank, echoed Lee’s sentiments, emphasizing the bank’s commitment to providing exceptional value to its clients by offering access to Cross Light Capital’s digital asset fund.
“By offering access to Cross Light Capital’s digital asset fund, we enable our clients to diversify their portfolios and tap into the potential of the digital economy.”
Crypto Investment Fraud Busted in Malaysia
Last month, Malaysian authorities dismantled a forex investment fraud and cryptocurrency syndicate operating in the country. The syndicate, which had been laundering funds from overseas scams, was targeted in raids across the Klang Valley from May 13 to 21.
Eight local men and two women were arrested, and substantial assets were seized. In April, the cryptocurrency industry saw a significant downturn in combined losses from hacks and scams, with losses amounting to approximately $25.7 million, the lowest since 2021.
