TechFlow news, November 5 — According to Corporate Advisor, UK pension fund consultancy Cartwright is urging institutional investors to allocate assets into bitcoin and has successfully guided the country's first pension fund to invest in the asset.
Glenn Cameron, Head of Digital Assets at Cartwright, said the unnamed fund allocated 3% of its £50 million ($65 million) portfolio to bitcoin last month, following "extensive consultations with the plan’s trustees, during which ESG considerations, investment rationale, and security were thoroughly discussed."
The investment is particularly notable as the pension fund is directly investing in the cryptocurrency itself rather than through proxies such as ETFs. The private keys are reportedly split and managed across five independent institutions.
Cartwright also said it will launch a bitcoin employee benefits program, allowing employers to deposit bitcoin into wallets created for employees. Currently, five companies have expressed interest in the product.
It remains unclear how many assets Cartwright advises. According to LinkedIn, the company has 51–200 employees and is headquartered in Hampshire, UK.
