Rest Super appears to be looking in the direction of crypto and could become one of the latest to offer crypto among its class in Australia, as the Chief investment officer of the retirement fund recently indicated that the firm may consider crypto as part of its portfolio diversification.
This came yesterday during the year annual general meeting of the firm. Andrew Lill, Chief Investment Officer of Rest Super told members the company plans regarding crypto for the future. He noted that the firm is carefully and cautiously considering making crypto an important part of its portfolio.
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.
He continued that offering crypto and blockchain tech exposure to members could stabilize source value, especially at a time like this that there is an influx of investors in crypto to hedge against fiat-based inflation. Lill opined that “I do think that, in an era of inflation, it could be a potentially good place to invest.”
Rest Super spokesperson also corroborated the CIO speech: “We are currently conducting extensive research into the asset class prior to making any decisions.” He continued that “We are also considering the security and regulatory aspects of investing in this class.”
While Rest Super is considering offering crypto to its members, Australia Super has recently commented the opposite about crypto. The CEO of the $167 billion funds, Paul Schroder said Monday that Australia Super did not see crypto as investible for its members.
Reports even had it last month that Queensland Investment Corporation was going to offer crypto exposure to its members, However, the firm later confirmed to Business Insider that the news was incorrect.
Rest Super is a retirement fund like 401k or Individual Retirement Account in the U.S. It boasts of over 1.8 million members with more than $46.8 billion worth of assets under management.
Crypto adoption is growing rapidly in the country, most especially after the country has developed its regulatory proposal. Commonwealth Bank of Australia recently integrated crypto features in its app to enable crypto trading.