It has been almost two years since Wellington Management put its name to its first tokenized fund, following a collaboration with Singapore’s FundBridge Capital and Libeara, the tokenization firm incubated by Standard Chartered’s SC Ventures. While that fund, ULTRA, invested in short term Treasuries and has around $70 million in AUM, the new fund INCOM is more focused on yield.
Consequently, the underlying fixed income assets are far more diversified, including investment grade and high yield corporates, bank loans, convertibles, securitized assets and government bonds. While the fund carries the Wellington brand, the asset manager is only the sub advisor, with FundBridge as the manager, the same setup as ULTRA.
“The INCOM strategy is grounded in the belief that income is the important driver of total return over the long run,” said Mark Garabedian, Director of Digital Assets and Tokenization for Wellington Management. “The strategic collaboration with Libeara and FundBridge is about evolving how we deliver this core investment expertise to institutional clients, utilizing public blockchains to provide the transparency and efficiency that modern allocators require.”
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