Affin Bank Becomes First Malaysian Bank to Offer Crypto ETF Fund

Affin Bank Becomes First Malaysian Bank to Offer Crypto ETF Fund

by June 10, 2024

Cross Light Capital, a local fund management company, and Affin Bank have launched an actively managed fund dedicated to digital assets, as reported by The Edge Malaysia.

The newly launched Performa Digital Asset Fund aims to offer exposure to digital assets through exchange-traded funds (ETFs) and exchange-traded products (ETPs), targeting premier banking customers.

Distributed exclusively via Affin Bank’s invitation-only Affin Invikta suite, this fund invests in bitcoin, ether, and blockchain-related companies through publicly traded investment instruments.

Significant investments include companies such as Coinbase Global Inc. and Ubisoft Entertainment SA.

According to Cross Light Capital, the Performa Digital Asset Fund allocates its investments equally, with one-third dedicated to bitcoin ETPs, another third to ether ETPs, and the remaining portion to blockchain-related equities.

The fund caters to sophisticated investors with a high tolerance for risk, anticipating a maximum drawdown of 30% to 60% within any one-year period.

Investors are advised to have a long-term perspective of five to ten years. The initial minimum investment is set at US$1,000, with an initial sales charge of up to 5% and an annual management fee of 2%. There are no withdrawal fees.

The fund’s trustee is MTrustee Bhd, its external auditor is Crowe Malaysia PLT, and Interactive Brokers LLP serves as the prime broker and custodian.

Jason Lee

Jason Lee

Jason Lee, CEO and Chief Investment Officer of Cross Light Capital, commented on the partnership with Affin Bank:

“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.”

Calvin Goon Cheng Yu

Calvin Goon Cheng Yu

Calvin Goon Cheng Yu, Head of Wealth Management at Affin Bank, emphasized the bank’s dedication to providing exceptional value to its customers:

“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.”

He also mentioned that the investment is facilitated through a wholesale fund approved by the Securities Commission Malaysia, ensuring investor protection and convenience.