Australian government investment firm QIC to add crypto to its portfolio

Queensland Investment Corporation, an Australian pension fund, is becoming interested in cryptocurrencies as part of its investment strategy.

Australian government investment firm QIC to add crypto to its portfolio

The Australian pension fund QIC has recently joined the financial giants and institutions, such as JPMorgan and Neuberger Berman, looking for investments in cryptocurrencies.

The confirmation came from the Financial Times, who received a statement from Stuart Simmons, QIC’s head of currencies, on what he thinks about cryptocurrencies.

First of all, Stuart Simmons said that he did not think that cryptocurrencies were such a necessary investment for this type of fund and institution, but on the other hand, he acknowledged that they mature as a segment.

I don’t think there’s an inevitability about super funds and the institutional market investing in crypto, but as the segment matures . . . there’s a likelihood that super funds seek out exposure, Simmons said.

Surprisingly though, he added that it was likely for super funds to seek exposure to cryptocurrency eventually.

According to Simmons, the biggest incentive to increase the investment inflow into the cryptocurrency market will come once a transparent set of regulatory requirements is defined.

Queensland Investment Corporation manages assets worth A$92.4 bn ($69 bn), making it Australia's fifth-largest pension fund.

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