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$138,400,000,000 Asset Manager Set to Launch New Crypto Hedge Fund by Year-End: Report

An investment firm with hundreds of billions of dollars in assets under management is reportedly looking to launch a crypto hedge fund by the end of the year.

According to a new report by Bloomberg, Man Group, the world’s largest publicly traded investment firm, plans to roll out its own digital asset hedge fund.

Anonymous sources claim that the crypto hedge fund’s strategy is led by Andre Rzym, partner and portfolio manager at Man AHL, the technology investment arm of Man Group.

The sources also say that the new crypto fund would be launched by Man AHL. Currently, Man Group uses AHL to invest in crypto derivatives and will only launch the fund after the firm assesses counterparty risks, according to the report.

The report says Rzym, who has been with the firm since 2005, has been tasked by the $138.4 billion asset manager with developing new trading models and identifying alternative markets.

Man Group aims to launch the virtual currency fund by the end of 2022 despite a tumultuous year for the industry, which has seen the collapse of many prominent projects and companies in the space such as the issuer of stablecoin Terra (LUNA), crypto hedge fund Three Arrows Capital (3AC), and digital asset exchange FTX.

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