Technology has opened the door to a new world of assets in which individuals may invest. This can help investors to diversify and participate in non-correlated asset classes. The WatchFund is an interesting example of the new landscape and today it is announcing €2 Million in assets under management (AUM) in partnership with Konvi.
Konvi is an online investment platform for alternative assets. Based in Ireland, Konvi is powering the WatchFund which is based in Singapore.
According to a note from the firm, the WatchFund SG allows high-net-worth individuals to invest in “money-cannot-buy watches or ultra-high-end timepieces.” Participation starts at just €250.
Konvi states that its bucket of alternative assets have been growing between 8% to 20% per year.
The “investment grade watches” are purchased and then sold after a period of time when the device is expected to appreciate in value. A voting mechanism acts to help investors make a collective decision on models and sales.
Konvi co-founder and CEO, Eran Peer, says their partnership with the WatchFund perfectly aligns with their mission to make lucrative assets available to anyone.
Dominic Khoo, the WatchFund founder, says the AUM is a milestone that is a testament to the rising demand for unique and collectible watches.
Konvi states that it is regulated by the Central Bank of Ireland under AML/CFT rules. The platform infidcates that anyone 18 and older may participate in their offerings which include other assets such as art and real estate.
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