AMP Becomes First Major Australian Pension Fund to Invest in Bitcoin Futures

In a groundbreaking move for Australia's pension industry, AMP (Australian Mutual Provident) announced an AUD 27 million investment in Bitcoin futures contracts. This initiative reflects the fund’s strategy to tap into emerging opportunities in the digital asset market while maintaining a strong focus on risk management.

Steve Fleig, Senior Portfolio Manager at AMP, revealed on LinkedIn that the fund began exploring this investment earlier this year. He emphasized that the allocated amount is a modest and deliberate step, with no current plans to expand investments in this asset class.

Anna Shelley, AMP's Head of Investment, attributed the decision to significant structural changes in the digital asset sector over the past year, including the introduction of Bitcoin and Ethereum exchange-traded funds (ETFs). Shelley clarified that this investment accounts for just 0.05% of the fund's total assets and followed extensive testing and detailed analysis by AMP’s investment committee.

This development comes at a time when Australia's pension industry faces heightened scrutiny, particularly concerning performance evaluations in unlisted markets. Notably, some AMP-managed retirement products failed to pass this year’s annual performance assessments, adding pressure on the fund to innovate and diversify its investment strategy.

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