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Business Blockchain author launches cryptocurrency fund

Author and investor William Mougayar has launched a cryptocurrency index fund based on the blockchain technology.

05.Oct.17 5:56 AM
By Daria Zaytseva


Business Blockchain author launches cryptocurrency fund

Announced yesterday, Mougayar is one of 12 managers to open a fund on iconomi, a platform for managing digital assets on the basis of blockchain. However, according to Mougayar, his fund will distinguish himself, allowing investors to benefit from what he uniquely can provide - his experience.

It is noteworthy that, for more novice investors, the fund will strive to invest in a wider class of cryptocurrency assets, in addition to better known options such as bitcoin.

To that end, the fund will include the allocation of 15 cryptocurrencies, which will change based on the forecast Mougayar on the space of the cryptocurrency. Currently, Mougayar will occupy the largest place in 20 percent of the total index and 10 percent in bitcoin.

Three lesser-known cryptocurrencies - steem, nexium and cofoundit - will each represent 10 percent of the index's holdings. The remaining 10 cryptocurrencies, which include melon, augur and basic attention token, will represent 4 percent of the holdings.

The Mougayar index accuses a relatively low overall fee of 5 percent, which contrasts sharply with the very high "two and twenty" pay structures fiat-based hedge funds sometimes charge.

In addition, unlike other hedge funds, Mougayar does not require a minimum investment, which should attract to smaller retail investors.

Diving deeper, Mougayar's partnership with Iconomi divides two responsibilities that are usually combined into one firm in other funds tracking lower rates.

To invest in the Mougayar's fund, users must first upload their account by placing bitcoin or ether on the Iconomi platform. While Mougayar regularly selects initial portfolio distributions and repeated weights, the investor's account will be placed on the Iconomi blockchain platform.

An additional advantage of the partnership with Iconomi, according to Mougayar, is that investors do not need to manage the tutelage of their own key pairs.

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