Retail Employees Superannuation Trust (also known as Rest Super) could become the first Australian retirement fund to invest in digital assets. However, Andrew Lill – CIO of the company – noted that cryptocurrencies are still a “very volatile investment,” and the company intends to enter the market with a “fairly small allocation.”
Rest Super revealed its intentions to jump on the cryptocurrency bandwagon during an annual general meeting reported by Business Insider. The firm’s Chief Investment Officer – Andrew Lill – said his company sees digital assets as a “very interesting and important part” of its portfolio that is “going forward into the future.”
Nonetheless, he touched upon the volatile nature of bitcoin and the alternative coins, which is why Rest Super is likely to start small:
“It’s still a very volatile investment, so any allocation exposure we make to cryptocurrencies is likely to be part of our diversified portfolio as initially a fairly small allocation that may, over time, build.”
