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Business blockchain author Mougayar launches cryptocurrency fund

William Mougayar, author, and investor has launched a blockchain-based cryptocurrency fund. Yesterday announced that Mougayar is one of 12 managers to open up a fund on iconomi blockchain of digital assets management.

According to Mougayar, his fund will distinguish itself by allowing investors to benefit from something he is uniquely able to provide.

He adds,

“I’m able to balance and rebalance the basket in a favorable way. And that insulates the average user from some of the blind spots that they may be facing”.

In this regard, he offers no shortage of credentials, being authored a book “The Business Blockchain”, published by Wiley last year. Also, launching a well-known conference based on the emerging digital asset economy in last May.

Remarkably, for beginner investor, the fund will seek to invest in the border cryptocurrency asset class like Bitcoin.

Particularly, the fund includes 15 cryptocurrencies allocations which will change Mougayar’s outlook on the cryptocurrency space. Presently, he will hold the largest allocation of 20% total index i.e., 10% in ether and 10% in Bitcoin.

Also Read: Commercial bond trading platform based on Blockchain in Russia

Mougayar says,

“Having a basket of cryptocurrencies, managed by someone who knows what they are doing, in a way removes some of the risks for the average consumer”.

Structure and Fund Cost

Meanwhile, new crypto index funds are launching daily, Mougayar’s fund seems to be courting a new class of retail investor. However, his index charges relatively 5% of the total fee. However, it is in stark contrast to the very high “two and twenty” fee structure fiat based hedge funds sometimes charge.

Additionally, unlike other cryptocurrency hedge funds, Mougayar’s doesn’t require a minimum investment. He says, “It’s like you’re on an exchange. You can buy 0.1 Bitcoin. There is no minimum”.

Moreover, the partnership of Mougayar’s and Iconomi divides two responsibilities. Firstly,  kind of low-cost tracking fund and a Blockchain crypto exchange.

An additional advantage of partnering with Iconomi, Mougayar argues that investors do not need to manage custody of their own key pairs.

Image Source: Business blockchain

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Kerin

Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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