HAUPPAUGE, N.Y., Dec. 14, 2017 /PRNewswire/ -- The Gemini Companies (Gemini) today unveiled key information and best practices for investment managers looking to hold or invest in digital assets. These insights were gleaned during a recent webinar moderated by Paul McMillian, head of editorial content at HFM Week.
"Fund managers, by nature, craft their strategies to create alpha, and innovate with whatever is available to do so. While cryptocurrencies have some nuances to them, they are just the latest evolution of the emerging digital asset class category," said David Young, President of Gemini's solutions for hedge funds and alternatives. "The foundational elements of starting an alternative fund or hedge fund remain basically the same, which the panel members illustrated during the webinar."
Blake Estes, Counsel at Alston & Bird, LLP, Dennis Schall, Partner in the Alt Investment Group at Marcum, LLP, and Tim Enneking, Managing Director for Crypto Asset Management provided expertise on the subject. Top Insights shared by this panel of experts included:
- Best practices for starting a cryptocurrency fund or incorporating digital assets into an existing fund
- How to optimally structure this type of fund vehicle (e.g., fees, liquidity, share classes) and deal with issues around the valuation of currencies
- The best way to arrange the custody of the digital assets and keep those assets secure
- How to handle these funds' unique regulatory compliance considerations and anti-money laundering requirements
- The taxation implications of digital assets
Tim Enneking, managing director, Crypto Asset Management, noted, "Our motto – which arose spontaneously when we realized we had always applied it… is to 'bring fiat [currency] best practices to the cryptocurrency space.' These words are a direct reflection of the phenomenon we are seeing today."
To learn more about cryptocurrencies and fund formation best practices for emerging asset classes:
LISTEN to the webinar.
DOWNLOAD "6 Questions You Should Ask Before Starting a Cryptocurrency Fund."
About the Gemini Companies
The Gemini Companies empower financial institutions with the operational and distribution infrastructure they need to bring their pooled investment products to market. We work alongside financial institutions and investors as engaged partners to challenge the status quo and identify innovative solutions to help them grow and succeed.
The Gemini Companies are composed of subsidiaries of NorthStar Financial Services Group, LLC, which has over 850 employees and over $705 billion* in assets under administration. For more information, please visit www.thegeminicompanies.com.
This release is for informational and discussion purposes only. Alternative investment products, including hedge funds and managed futures, involve a high degree of risk and are not suitable for all investors.
*as of 11.30.17