German doctors’ pension fund makes first foray into crypto | News
The German pension fund for doctors in the state of North Rhine-Westphalia, Nordrheinische Ärzteversorgung (NAEV), has made its first foray into the crypto space following a two-year test period.
Over the past few years, the first-pillar pension fund has explored cryptocurrency by testing two strategies, investing a maximum 0.1% of total assets or around €17m. The total allocation has since increased to no more than 0.5%, or €85m, following the conclusion of the tests, IPE understands.
Chief investment officer Bernd Franken told IPE that the first strategy consisted of a capital-weighted basket of the 10 largest cryptocurrencies.
“The second strategy is more of a niche equity fund, investing approximately 80% in…
