BRISBANE, November 9, 2021 – Wealth management platform Praemium has approved Monochrome’s flagship product on the Powerwrap product suite providing wholesale investors in Australia leading access to a pure bitcoin fund via an IDPS-like scheme, supported with complementary research and education.
Monochrome is pleased to announce another milestone on the path to digital asset approvals in the Australian advised market as its flagship offering, the Monochrome Bitcoin Fund (MBF), is now available to wholesale investors via the Powerwrap product suite.
Powered by Praemium’s innovative, institutional-grade platform with over $170 billion in funds under administration, Powerwrap is a market-leading product suite for Private Wealth, Managed Accounts and non-custodial investment solutions.
“With consumer demand for digital assets on the rise, Praemium has stepped forward as the first-movers to support regulated investment vehicles offering investment-grade exposure to bitcoin via the Monochrome Bitcoin Fund,” said Jeff Yew, CEO of Monochrome.
The MBF is a capital growth fund for wholesale investors seeking a familiar investment vehicle that closely tracks the price of bitcoin, issued via an Information Memorandum.
Praemium’s Head of Investment Managers & Governance, Damian Cilmi said “Monochrome is setting the standard for exposure to digital assets in Australia and we are excited to be able to offer this investment opportunity to our wholesale clients via the Powerwrap product suite.”
This approval complements the firm’s recent launch of Monochrome Research - a dedicated digital asset research and education division designed to meet the growing need for knowledge on the nascent asset class.
“There is growing interest in the high net wealth investor segment for cryptocurrency investment opportunities and the formation of Monochrome Research shows industry-defining leadership on building knowledge and education around this space,” Mr Cilmi added.
With access via a familiar investment vehicle, Powerwrap users are able to easily incorporate bitcoin exposure into portfolios via MBF units.
The Monochrome Bitcoin Fund is now available via the Powerwrap product suite.
Praemium is an award-winning leader in the provision of integrated Managed Accounts Platform technology and solutions. Our platform solution, including custody and non-custody and private wealth solutions has grown in usage in 20 years to almost 1,000 financial institutions and over 300,000 investors, covering more than $170 billion in investment assets globally.
This publication has been prepared by Monochrome Asset Management Pty Ltd ABN 80 647 701 246 (Monochrome) the Investment Manager of the Monochrome Bitcoin Fund (the Fund). Monochrome is a Corporate Authorised Representative No. 1286428 of Non Correlated Capital Pty Ltd ABN 99 143 882 562 AFSL 499882 (NCC). NCC is the Trustee of the Fund. This publication has been prepared by Monochrome to provide you with general information only. In preparing this publication, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Monochrome, NCC nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accept any liability to any person who relies on it. You should obtain professional advice and consider the Information Memorandum before making a decision in relation to this product. Any forecasts and hypothetical examples are subject to uncertainty and are not guaranteed. Past performance is not a reliable indicator of future performance. You can obtain a copy of the Information Memorandum for the Fund by contacting Monochrome at https://monochrome.co.
Marketing & Content Manager
Monochrome Asset Management
Monochrome Asset Management (Monochrome) is proud to be a major partner at the Financial Review Cryptocurrency Summit 2023 on 16 October, in Sydney. Organised by The Australian Financial Review, it is the nation’s premier crypto-asset forum for investors, policy makers, regulators and tech innovators.