The fund's launch in Singapore is a further example of how digital assets continue to attract mainstream investment attention.

Capitalising on the new technology, BNY Mellon Investment Management has launched a Blockchain Innovation Fund – the first blockchain-themed fund available to retail investors in Singapore, it says.
 
The fund is an actively managed global portfolio investing in equities associated with companies which will benefit from the revenue generation and cost-saving opportunities offered by blockchain technology. 

Managed by Newton Investment Management North America LLC, part of BNY Mellon IM, it aims to achieve long-term capital growth by investing in digital assets companies. 

“Blockchain technology has been adopted by companies in a wide range of sectors to enhance existing revenue streams and to reduce costs whilst some companies are generating revenue by offering blockchain-related service,” Paul Liu, Singapore CEO and head of intermediary distribution for Southeast Asia at BNY Mellon Investment Management, explained.
 
“This gives our clients the chance to gain direct exposure to companies that are early adopters of blockchain technology, some of which are likely to set the standards for blockchain deployment within their respective industries. We believe by identifying the blockchain theme early and investing in it over the long term we can capitalise on this structural driver of growth for our clients,” Liu said.

Digital assets is a term covering a range of entities such as cryptocurrencies, “tokens,” “smart contracts” that take advantage of distributed ledger technology. The wealth management industry is being affected by this trend in various ways (see an article here).
 
The fund is available to institutional and intermediary investors in the UK, France, Germany, Italy, Spain, Belgium, Austria, Denmark, Switzerland, Norway, Sweden, Finland, the Netherlands, and Luxembourg.
 
BNY Mellon IM is one of the world’s largest asset managers with $2.3 trillion in assets under management.