PANews reported on May 12 that according to Crowdfundinsider, Abu Dhabi licensed private equity platform AltNovel has partnered with Canadian digital asset management company 3iQ to launch the Middle East's first multi-strategy digital asset fund "AltNovel Digital Access Portfolio". The fund is aimed at professional investors and aims to achieve an annualized return of more than 20% through a combined hedging strategy, with a maximum drawdown of less than 2.4%, aiming to provide a configuration option with low correlation with traditional assets.

The product will combine 3iQ's digital asset management experience with AltNovel's portfolio building capabilities and operate under the regulatory framework of the Abu Dhabi Global Market (ADGM). 3iQ CEO Pascal St-Jean pointed out that the demand for institutional-level risk management solutions in the Middle East market has grown significantly. Data shows that the UAE has become the first sovereign country in the world to implement a comprehensive crypto asset regulatory framework.