MembersCap reposted this
At the Future of Finance (FOF) and Apex Group Ltd event on October 17th we discussed 'How can tokenisation democratise high alpha alternative investment strategies' we covered with Benjamin Fox at MembersCap; Ami Ben-David at Ownera and Nadav Zohar at LRC Group issues such as: • Is tokenisation of hedge, private equity and real estate funds driven primarily by supply (fund managers want the investors) or demand (retail investors and their advisers want the assets) factors? • How successful has the lowering of minimum subscription amounts in hedge, private equity and real estate funds been in terms of attracting high net worth or mass affluent investors? • Why are tokenised funds better than funds of funds? • How important is liquidity to retail investors and how effective is tokenisation in increasing the liquidity of fund holdings? • Does tokenisation simplify the documentation and subscription process for retail investors? • How easy is it to engage fund distributors (private banks, wealth managers) to support alternative fund tokenisation - don't they have to make a lot of changes to their systems and processes? • What do tokenised funds do differently (e.g., simultaneous sharing of data via a blockchain, automated capital calls) that makes it economic for them to "democratise" investment? • Don't the full benefits of tokenisation depend on tokenisation of the underlying assets (i.e., shares of individual companies in the fund) as well - and are managers prepared to offer that to retail investors? • Do you ever worry that high alpha strategies might become low alpha strategies, causing retail investors to lose money, and so undermine the democratic credentials of tokenisation? • Who benefits most from democratisation of hedge, private equity and real estate funds - fund managers, wealth managers/private banks, fund administrators or retail investors? The Summary of the event will be out soon. https://lnkd.in/gRj9kZyS #tokenisation #hedgefunds #alternativeassets