One week after selling its global fixed income fund to Harbor, Implemented Investment Solutions launched a high-risk Bitcoin fund.
Saturday, October 2, 2021, 8:23 pm
According to documents on the Disclose website, the Vault International Bitcoin Fund, which is issued and managed by IIS, is about to launch.
The investment manager is Vault Digital Funds, a New Zealand digital asset investment manager. It is published and maintained by Anthony Edmonds IIS.
Vault Digital Funds is an Easy Crypto-affiliated company known as New Zealand’s premier cryptocurrency brokerage, used by more than 156,000 people.
The website says, “Investors can have the confidence and peace of mind that they are investing through a New Zealand company.”
“We have partnered with some of New Zealand’s top fund servants to provide Kiwis with world-class investment products so you don’t have to send money overseas to buy or store digital assets.”
“Vault believes that digital assets have great future potential and our goal is to give Kiwi investors easy, smart and trustworthy access to this dynamic new asset class.”
However, the product disclosure statement gives it the highest possible risk rating – a seven.
“The fund seeks a return before fees and taxes that largely tracks the S&P Bitcoin index in New Zealand dollars,” the PDS said. “This is a highly speculative investment. Bitcoin is a very volatile asset. This means that the fund is not suitable for all investors.”
The fund has a 2.5% fee and the PDS recommends a minimum recommended investment period of 10 years.
The PDS also says investing in the funds “is easier than holding Bitcoin directly. If you hold Bitcoin directly, you will need to make your own custody or custody arrangements. Bitcoin custody is managed within the underlying fund investments. “
Vinnie Gardiner, Founder and CEO of Vault, has a background in banking and finance and has worked at KPMG and Barclays.
“Most recently, Vinnie has worked in the New Zealand real estate sector as both an investor and a developer.”
“Vinnie was previously a chartered accountant, has diversified into the digital asset class and has a vision to make New Zealand a global leader in the fast-growing fintech investment process,” the company said on its website.
“For him, investing in digital assets should be a simple, trustworthy and familiar process for everyone.”
Janine Grainger, CEO of Easy Crypto, is co-founder of Vault Digital Funds. Easy Crypto is described as New Zealand’s premier cryptocurrency retailer. “
The fund invests in Bitcoin funds and ETFs that are listed on foreign stock exchanges. Investors are taxed using the Fair Dividend Rate (FDR) method.
As of the date of this PDS (September 22nd), the Underlying Funds may include:
• Bitcoin trust in grayscale
• CI Galaxy Bitcoin ETF
• 3IQ Coinshares Bitcoin ETF
• Purpose of Bitcoin ETF
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