Sygnia plans to launch a cryptocurrency exchange, the fund manager said in its interim results released on Friday. This follows an effort by Sygnia to list a cryptocurrency-backed exchange-traded fund (ETF) on the JSE, which the local bourse reportedly rejected — although Sygnia CEO Magda Wierzycka has disputed that was the reason the ETF did not proceed. The asset manager has launched the "Sygnia Cryptocurrency Fund that invests in a range of cryptocurrencies on behalf of investors" but does not trade on the JSE as an ETF. Sygnia has also launched a range of Sharia investment funds, and the fund manager formerly associated with passive index tracking has also launched a "Sygnia Activist Fund that will capitalise on Sygnia’s activist stance". Assets under management grew 14% to R180.6bn at the end of March, and Sygnia’s interim revenue grew 41% to R207m. "The growth in revenue was primarily a result of a growth in existing assets under management through organic client growth and ne...
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