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Opalesque Industry Update - London-based Nickel Digital Asset Management (Nickel), Europe's regulated digital assets hedge fund
manager, has implemented a soft close on its systematic Diversified Alpha Fund following a 150% surge
in assets under management (AUM) over the past year, according to sources familiar with the matter. The move aims to manage fund capacity after the fund posted a 34.9% net return in 2024. The Diversified Alpha Fund employs a non-directional, multi-strategy approach, integrating a portfolio of capacity-constrained digital asset strategies into a single, investable fund. Despite Bitcoin declining 3% in December and Ethereum dropping 10%, the fund delivered a 3.8% gain, reinforcing its uncorrelated nature. It achieved positive returns in 11 out of 12 months in 2024 according to the sources. Nickel's Investment Committee has paused new and additional investor subscriptions, honouring all previous capacity commitments. The fund may reopen once it demonstrates sustained 15%+ annualised returns with interested investors currently being placed on a waitlist. Investors on the waitlist will be prioritised based on submission order, with the potential for a limited reopening should demand exceed available capacity.
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Industry Updates
Digital asset hedge fund manager Nickel closes Diversified Alpha Fund as AUM rises 150%
Thursday, February 20, 2025
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