“Investing in cryptoassets remains controversial, and we are extremely selective and cautious in this space,” he said. “However, the attitude of many institutional investors in this space is not dissimilar to that of venture capital investors in early internet companies in the 1990s. Early-stage venture investing implies that the vast majority of companies and projects in this space could, and probably will, fail.“Institutions know they are investing in cryptoassets on the basis that they may see many of their portfolio companies produce no returns, but with outsized returns from one or two of them.“Though cryptoasset investments entail a high degree of risk, some may upend the digital world. Venture-style due diligence and technical expertise may provide a better understanding of cryptoasset investments and their long-term return potential.”Cryptocurrency one-year returnsChart MakerCambridge emphasised that investors in cryptocurrencies would have to “spend a considerable amount of time learning about the space” before allocating.The company added that its research suggested a maximum allocation within a portfolio of 1%. Investors already in the cryptoassets space held an average 0.2-0.3%, Cambridge said.In 2017, French asset manager TOBAM launched the first European open-ended Bitcoin fund for institutional investors. At the time, Yves Choueifaty, president of TOBAM, described Bitcoin as a “highly diversifying asset”, and said the company had conducted research into the digital currency “from a technical, financial, economic and regulatory point of view” for a year prior to the launch of the fund.Since its launch to 22 March, the fund is down 50.5%, according to data from Bloomberg.Further readingGetting to grips with cryptocurrenciesFor institutional investors and asset managers, cryptocurrencies pose a triple dilemmaInvestment in Cryptocurrency: Disruption or disappointment?Understanding the architecture supporting digital currencies like Bitcoin is increasingly important Institutional investors should consider an allocation to cryptocurrencies following recent collapses in the prices of various digital ‘coins’, according to Cambridge Associates.The investment consultancy group said investments in blockchain technology – which backs cryptocurrencies such as Bitcoin – could also be worth allocating to following price falls.According to cryptocurrency trading website eToro, the price of Bitcoin fell by 43.6% in the 12 months to 26 March, while other popular currencies declined by even more: Litecoin lost 46.6% and Ethereum was down 64.3% in the same timeframe.Marcos Veremis, managing director at Cambridge Associates, argued that the price falls made for an attractive entry point for the emerging asset class.
Press Association But he also conceded Racing Metro star Sexton will be the front-runner to start against Australia in round two of the autumn internationals. Schmidt explained: “Obviously the coaches will get together and will make a decision. “One great thing about Jonny is he’s well known to me, he’s well known to (assistant coach) Les (Kiss), and Plum (forwards coach John Plumtree) doesn’t care because he’s not a forward! “We would have to strongly consider Jonny coming back in. He does bring that experience and that quality that we know he has. “He wasn’t the starting Lions out-half for no reason. But I’d have to take my hat off to Paddy Jackson. “I think that he’s had to do it pretty tough at times, being thrown in as a very young man and having to direct some very impressive men around the park. “I think he said during the week about telling Paul O’Connell where he needs to be and feeling a little bit intimidated himself. I feel the same intimidation.” If Sexton is the clear first-choice fly-half, Schmidt admitted the battle for the understudy role remains fierce. Jonathan Sexton will be hard to ignore for Ireland’s Australia clash, admits head coach Joe Schmidt. Ulster’s frontline 10 Jackson led the Ireland line with assurance while Ian Madigan might have got the nod for the North American summer tour, but has had to bide his time for chances behind New Zealander Jimmy Gopperth at Leinster this term. Schmidt admitted provincial opportunities certainly sway the thinking at national level. He continued: “I just feel that Ian Madigan hasn’t had too many opportunities this year, but he came on and you immediately saw a little bit of spark. “He wasn’t at 10 but his versatility allowed us to rest Drico (Brian O’Driscoll) a bit and get him on there. “I think at 10 we are building a little bit of depth and I hope that continues to grow and part of that growth is having a competitive environment. “I’m not great at projecting things, but I know next week that we’re probably in a better place than if Jonny played this week and we needed to replace him through injury. “Every game is a final for me at the moment, and of course you always put your best team out in a final, every time. “At the same time you’re trying to grow a group, so I’m relying on the provincial coaches to continue to give opportunities to guys at Pro12 and then particularly at Heineken level.” Ireland’s autumn series is building towards a showdown with New Zealand. But Schmidt admitted he cannot let himself look too closely at the All Blacks’ impressive 26-19 victory over France – not with Australia descending on Dublin next. He added: “Australia are the third-ranked team in the world; we’re a fair way off that. “I can honestly say New Zealand are not really in our mind. “I know who they are. I know they are coming on November 24. “It’s tempting I admit to start looking at them, but we’ve got to be Australia-focused.” The British and Irish Lions fly-half sat out Saturday’s 40-9 Samoa victory with a hip problem, but is expected to be ready for this coming weekend’s visit from the Wallabies. New boss Schmidt was boosted by Ulster outside-half Paddy Jackson’s confident turn at the helm as Ireland racked up five tries at the Aviva Stadium.
Share UKGC launches fourth National Lottery licence competition August 28, 2020 Submit Share Related Articles Winning Post: Swedish regulator pushes back on ‘Storebror’ approach to deposit limits August 24, 2020 StumbleUpon UKGC hails ‘delivered efficiencies’ of its revamped licence maintenance service August 20, 2020 Tom Mitchell – RISQFollowing a year of growth, SBC catches up with Tom Mitchell, B2B Director of London-based tech firm RISQ. Bringing new insurance/risk products to market, RISQ’s commercial team has announced a number of new Tier1 partnerships. SBC gets the full lowdown from Mitchell…______________________SBC: Can you begin by introducing RISQ as a company and describing what it is you do?Tom Mitchell: RISQ are a London-based technology company, providing the highest levels of precision and data analytics in jackpot risk management. We offer hedge bets and insurance on the outcomes of international lotteries and have access to the largest insurance limits in the industry. Our Jackpot RNG (Random Number Generator) is suited to a wide range of applications, tailoring odds, jackpot-size and frequency to any platform or games developer’s specific needs. These scalable jackpot solutions drive traffic, acquisitions, and player behaviour in the global-gaming and digital-marketing space. RISQ think differently, seeking out opportunities that allow clients to increase their margins and maximise returns through innovative technology, allied to a unique corporate structure. Holding both UKGC and Alderney licences, we supply the first-ever insured RNG with scope to grow limits up to £100m per play.SBC: How successful has RISQ’s range of B2B offerings been in attracting clients, and do you have any prospective partnerships in the pipeline?TM: To be honest, jackpots can now provide the cornerstone of each product, whether it be lottery, RNG or sports-related. Succinctly put, for the aforementioned reasons, jackpots work. And our solution has enabled the gaming industry to easily access such jackpots, which can in turn be pressed into a variety of services. After all, we are still at the doorstep of seeing how the modern igaming market moulds its use of jackpots. So, at RISQ, we have been eager to ensure that adaptability remains our watchword. Our uniquely-structured, B2B-only solution can be extended to affiliates, gaming platforms, games developers and operators, providing total and democratised access to jackpots that are flexible and scalable to meet their exact requirements. In fact, we’ve just announced a partnership with leading online instant win games supplier IWG to launch an exciting new range of jackpots powered by RISQ’s RNG. It’s a great validation to have such a forward-thinking supplier on board, and we expect the pipeline to draw from a similarly well-respected pool.SBC: What reassurance can you offer future partners as to jackpot prize insurance?TM: Power is nothing without the right controls, and the importance tamper-proof data is paramount to the success of our business. To which end, RISQ’s technology runs off the latest software, which both vets and protects results with automated timestamps and the most robust anti-interference systems around. So while our solution is a real game-changer for this industry, it also delivers complete peace of mind for individual operators when providing the customised flexibility to offer jackpot-led titles without the need to share liquidity, or the potential rewards of a major jackpot win, with rival sites.And while our jackpot limit is currently set at £25m, the industry interest it is creating will soon see us increase that figure to £100m. Perhaps above all, though, RISQ’s fiduciary commitment to transparency and contracting with A-rated insurers at every juncture sets us apart. Ultimately, our partners want to know that in the event of a win, the claim process is seamless and robust, with the player getting paid quickly and in line with terms and conditions. Tackling any such reliability concerns has been at the heart of our development and company culture.SBC: Looking to the future, how will you ensure RISQ continues to grow and expand?TM: Ever since we entered the market in 2010 as the first insurance-based lottery solution, we have looked to the long-term, and the accompanying evolution to facilitate that path forward. We plan to grow our existing B2B relationships, certainly add new ones, and make continuous improvements to client-margins through the most efficient risk-management systems available. Meanwhile, on the other side of the business, the insurance industry is ripe for disruption, and we already have our finest minds making inroads into how best to exploit those forthcoming opportunities.