Temasek-backed Fullerton Fund Management to start tokenising funds in ADDX
ADDX investors can access the fund at a minimum size of $13,892 ($US10,000).
The Temasek subsidiary Fullerton Fund Management will begin tokenising a private equity fund of funds in the private market exchange, ADDX, which is supported by SGX.
Fullerton Optimised Alpha Fund is a closed-end fund seeking 8% to 12% in returns per annum over its fund life of seven years, ADDX said in a statement.
With the tokenisation, ADDX added that its investors can use the fund at a minimum size of $13,892 ($US 10,000) instead of $347,313 ($US 250,000).
The fund will be invested in a portfolio of six to eight private equity and private credit funds.
For his part, ADDX CEO Oi-Yee Choo said Fullerton Fund Management, a part of Temasek holding company, Seviora, will be able to give access to tier-one deal flow and can invest in funds that are near-impossible to reach.
$1 = $US 0.72
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