Fairfax County Employees’ Retirement System’s allocation to digital assets has been its best-performing investment ever since the pension fund first dipped a toe in blockchain infrastructure and digital currencies and tokens as part of a new allocation to venture back in 2019.

Distributions from that inaugural fund investment are now starting to come in.

“We are way ahead,” Andrew Spellar, chief investment officer of the pension fund which manages $6.3 billion on behalf of public sector employees in Fairfax County, North Virginia, tells Top1000funds.com.

Today, the allocation has grown from an initial 1.5 per cent of the pension fund’s total assets under management to around 4.5 per cent, mostly because of the growth in…