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Neuberger Berman Greenlights Indirect Crypto Investments for Commodities Fund
The $400 billion asset manager is expanding its investments strategy to include bitcoin and ether.
By Danny Nelson
Updated May 9, 2023, 3:22 a.m. Published Aug 11, 2021, 2:29 p.m. 1 min read
Asset management firm Neuberger Berman has given its $164 million commodities-focused mutual fund the go-ahead to invest indirectly in bitcoin and ether for the first time.
“Neuberger Berman Commodity Strategy Fund” added crypto derivatives, bitcoin trusts and exchange-traded funds (ETFs) to list of permissible investment strategies, the $400 billion manager said in Wednesday regulatory filings.
The fund, which as a mutual fund would be widely available to investors, has been on a tear this year as commodity prices surged, according to a fact sheet. Its top holdings were gold, corn, heating oil and Brent crude at the end of June.
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FalconX has hired Cantor and other bankers to advise on a potential IPO and confidentially filed draft paperwork with the SEC, though the listing is not expected until later this year amid volatile market conditions.
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- The crypto prime broker, last valued at $8 billion in 2022, serves institutional clients including hedge funds, asset managers and market makers.
- Cooling investor sentiment, weaker trading...
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