German Union Investment diversifies portfolio with new blockchain fund

Germany-based fund manager Union Investment has launched a new blockchain fund to diversify its portfolio. Dubbed the UniThemen Blockchain Fund, the blockchain-based fund will run a multi-faceted strategy, holding actual digital currencies and blockchain-related stocks.

A closer look at the functioning of the fund indicates that 15% of the holdings will be allocated to digital tokens via certificates. Up to 65%-100% of the UniThemen Blockchain Fund’s valuation will be allocated to stocks related to blockchain, distributed ledger technology (DLT) and digital currencies. You also plan to allocate a portion of your assets to bonds, as long as they do not exceed 20% of your total assets.

Jochen Keller, head of alternative investments at Union Investments, noted that the DZ Bank subsidiary will follow its holding company’s lead in adopting digital currencies.

“The capital structure will become much larger in the future,” Kerler said. “Alternative forms of investment should also be expanded to include token-based assets.”

Union Investment’s parent company, DZ Bank, previously launched a digital currency trading offering for German community banks, leaning on Metaco for a custody solution. Despite still waiting for the BaFIN license, DZ Bank is making significant strides in the ecosystem, paving the way for its branches.

Union Investment has already started Web3 investments, diving into the European Investment Bank’s euro-denominated digital bonds. The fund managers also bought a sizable stake in Siemens’ digital bonds in 2023, giving the company considerable experience in launching its own Web3 fund.

German banks explore blockchain

Despite banking regulators’ reluctance to explore blockchain applications in finance, German commercial banks and fund managers are throwing their weight behind the technology. In a 2023 study, a coalition of lenders under the German Banking Industry Committee (GBIC) shared ambitious plans to use deposit tokens for interbank transactions.

German commercial banks are also seeking a bigger role in the proposed launch of a digital euro to limit the risks of banking disintermediation and low adoption metrics.

“Based on today’s business relationships, commercial banks know best what their customers need from digital money – and this applies to both consumers and the companies with which the banks do business,” it said in a document of the Association of German Banks.

Watch: What can organizations do to get on the Web3 and digital identity bus?

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the definitive resource guide to learn more about blockchain technology.

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