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Funds-of-one and tokenization: Demands grows for direct ownership and customization
- January 1, 2025: Vol. 12, Number 1

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Funds-of-one and tokenization: Demands grows for direct ownership and customization

by Elliot Refson and Philip Pirecki

Investor preferences in asset management are evolving rapidly, with a notable shift toward structures that emphasize direct ownership, customization and transparency. The use of separately managed accounts (SMAs), for example, has steadily increased alongside rising interest in investment vehicles like funds-of-one, special purpose vehicles and tokenized assets. Each of these structures provides an added level of control and visibility that investors increasingly demand. In a market landscape marked by uncertainty, we see a heightened desire for tailored solutions.

FUNDS-OF-ONE

In recent years, institutional investors and high-net-worth individuals have been drawn to more personalized investment solutions, moving away from traditional pooled funds toward vehicles such as funds-of-one and special purpose vehicles. These structures allow for tailored strategies that align with the individual goals, risk appetites and time horizons of the investor.

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