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AMP has become Australia's first superannuation fund to invest in Bitcoin, allocating $27 million, or 0.05% of its $57 billion assets, to the digital asset. This move is part of a diversification strategy aimed at enhancing returns and managing risk, despite skepticism from other major funds like AustralianSuper and Australian Retirement Trust. The investment reflects a growing trend among institutional investors recognizing the significance of the crypto market.
Australia's largest pension funds are set to significantly increase their investments in unlisted assets amid rising financial risk concerns. AustralianSuper, managing A$341 billion, aims to raise its private asset allocation from 23% to over 30% within the next three to five years, according to Alistair Barker, Head of Asset Allocation.
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