Investors who’ve been waiting to buy a stock are getting an unexpected boost with a new investment fund in the middle of a crisis.TESLA Investments announced Friday that it had acquired TESLA Ventures, a $1 billion fund with a portfolio of assets managed by investment management firm Blackrock.TESTAMAX is the first investment fund for TESLAVs and its partners that will work to diversify the funds portfolio.
The fund will be managed by Blackrock’s Global Investment Management team.
“The fund will provide TESLANs with the tools and expertise to invest and manage assets that provide them the most opportunity to realize their growth potential and to maximize their returns,” Blackrock CEO Jonathan Gold said in a statement.
The fund, which is expected to be fully operational by the end of the year, will be the first of its kind in the U.S. “The investment objective of the fund is to provide exposure to a diversified portfolio of global asset classes and invest with high-quality, diversified managers,” said TESLC Ventures CEO Robert G. Hall.
“As a diversification tool, the fund offers the opportunity for investors to invest in a wide range of asset classes.”TESLVEST, the first TESLBEX fund, is an index fund that tracks a set of asset class indexes.
TESLOVEST is an equities-focused fund that also tracks a broader set of indexes.
The funds portfolio includes stocks, bonds, currencies, currencies-linked mutual funds and commodities.
Teslavs are investors who want to own stocks and other asset classes in the broadest possible range.
They want to make sure their portfolio is diversified and have access to diversified investments from diversified funds.
Investors can buy into TESLSLV by sending an e-mail to [email protected] and entering their portfolio number.