{"id":"court_sdny_654_7","court":"SDNY","case_no":"23-cr-00118","doc_number":654,"sub_number":7,"doc_type":"EXHIBIT","filed_date":"2025-04-07","title":"EXHIBIT G ","summary_zh":"基金管理公司背景及基金投资条款 —— Hamilton Investment Management Limited 公司概览及 Himalaya Digital Asset Fund 基金条款，SDNY 1:23-cr-00118 ECF #654 展品 G，2025 年 4 月 7 日。文件介绍投资管理团队之从业背景（曾任职全球顶级投资银行及资产管理公司），并阐述该基金采用被动投资策略。","summary_en":"Fund Manager Background and Investment Terms —— Company overview of Hamilton Investment Management Limited and investment terms of Himalaya Digital Asset Fund, filed April 7, 2025 as Exhibit G to ECF #654 in SDNY 1:23-cr-00118. Document details investment management team qualifications (prior positions at global investment banks and asset managers) and describes fund's passive investment strategy.","body_en":"# **EXHIBIT G**\n\n\n\n### **Overview.**\n\n**Hamilton Investment Management Limited** (\"Hamilton\") is a technology-focused, value-driven investment management firm serving world-renowned institutional investors who invest in a broad spectrum of asset classes. Hamilton adopts a sophisticated, multi-strategy approach to investing to generate an optimal risk-return profile. This ensures that the most compelling investment opportunities are captured across diverse investment products and geographical markets.\n\n**The Hamilton** Opportunity Fund SPC is designed to connect traditional finance with the digital assets market, while maintaining market leading standards present in the crypto industry.\n\n\n\n**The Hamilton Opportunity Fund SPC** is created with institutional clients in mind. We provide institutional quality exposure to cryptocurrency assets for corporate investors. Built on a foundation of valuable resources and global relationships, we leverage unrivalled capabilities to manage capital for the most prestigious global institutional investors.\n\nOur dedicated team is made up of senior professionals with diverse skill sets who work together to ensure the seamless execution of every single transaction and investment, bridging the gap between traditional finance and the emerging crypto landscape. Our combined expertise across a multitude of asset classes, industry segments and markets, positions us to analyse, value and support our investments in the face of a complex set of industry dynamics.\n\n\n\n**Our objective** is to provide institutional investors access to a range of digital assets, which affords them peace of mind in terms of safety, security, custody, diversification and optimal risk-return profiles of investment products.\n\n**The team** is comprised of ambitious individuals who have previously worked at some of the world's most respected institutions including global investment banks (Macquarie, Goldman Sachs, Bank of America, Mizuho), and asset managers (Vanguard and Rothesay). Years of invaluable experience reassure our investors with the confidence they need to partner with us.\n\nOur crypto investment products are paired with capital preservation and operational expertise, designed for the investor who is seeking new opportunities to enhance their portfolio.\n\n\n\n**Hamilton Team**'s DNA combines decades of industry acumen and investment experience at the top Wall Street banks and global hedge funds.\n\n\n\n\n\n# **\"Crypto** Assets Act As A Hedge Against Macroeconomic Uncertainty\".\n\n\n\nIn a global economic climate characterised by heightened volatility and macroeconomic uncertainty, **change** is the only constant. Crypto assets act as a hedge against macro-economic unpredictability, while also offering diversification against traditional asset classes.\n\nThis asset class goes **beyond a store of value**, to serve as a means of payment, and an appreciating (but volatile) asset over time.\n\nThey hold the ability to disrupt the current traditional slower moving legacy financial system.\n\nOver time money has evolved from barter systems to structures backed by commodities (Eg. Gold), to the current free-floating system of exchange rates. We recognise **blockchain technology and cryptocurrencies to be the next significant phase in the evolution of money.**\n\nWith the total market capitalization of **bitcoin now exceeding the USD \\$1 trillion dollar mark**, this milestone makes digital assets a lucrative investment for the world's largest asset managers.\n\nThey offer **Asymmetrical Payoffs**. The fixed supply of bitcoin (21m coins), coupled with increasing institutional demand and broader acceptance of cryptocurrencies has cultivated an exciting and unique landscape for digital assets.\n\n\n\n### **The Institutionalization Of The Crypto Landscape.**\n\nSome of the world's largest and most respected institutions are finally realising the prominence of cryptocurrencies within the wider financial sphere and have started to invest.\n\n\n\nAmassed close to **~100K BTC** (worth **over USD \\$5b** at current market rates).\n\nOffering institutional client's **direct access to Bitcoin funds**.\n\n**Launching a crypto basket** offering clients crypto exposure.\n\nVISA\n\nTo enable **Bitcoin purchases** and integrate Bitcoin within their network.\n\nAt Hamilton we believe **this is just the tip of the iceberg** and as more institutions will follow, we give investors the capability to invest and gain exposure to crypto with our fund offerings.\n\n\n\n## **Cryptocurrency Market Cap (USD \\$).**\n\nThe global crypto market cap is \\$1.8Trillion. This chart shows the historical data of global market capitalisation. The total market cap parameter is calculated by collectively summarising the market capitalisations of all cryptocurrencies in USD.\n\n\n\n# **Total Market Capitalisation Dominance (%).**\n\nThis chart displays historical data on percentages of the total market capitalisation of the most popular cryptocurrencies. Here the market dominance of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), EOS and others are presented.\n\n\n\n**Crypto does not correlate with other asset classes**.\n\nThe unique characteristics demonstrated by crypto assets means investors can capture potential growth while limiting overall portfolio risk..\n\n| | Bitcoin | Ethereum | EOS | TRON |\n|----------------------------------------------------------------------|---------|----------|-----|------|\n| S&P 500 | 8% | 10% | 4% | 11% |\n| Gold | 4% | 8% | 5% | 0% |\n| Silver | 0% | 8% | 8% | -2% |\n| Image: [Three upward triangles] BLOK Image: [Three upward triangles] | 26% | 28% | 21% | 20% |\n| Russell 2000 | 9% | 10% | 5% | 13% |\n| Real Estate | -1% | -2% | -1% | 0% |\n| Bond Market | -6% | -7% | -3% | -10% |\n\n-\n-\n-\n\n-\n-\n\n\n\n\n\n### **Efficient Frontier, Optimised.**\n\nModern Portfolio Theory considers returns, volatilities, and correlations of assets, and attempts to allocate different **combinations** of each type to **mitigate** overall portfolio risk.\n\nAn '**efficient frontier**' of portfolios can be built, where returns are optimised per unit of risk.\n\nAs we've seen the crypto asset class is **uncorrelated** to other asset classes, and thus can provide a diversification benefit.\n\nAs a result, we believe that the efficient frontier will lead to **expansion**, once crypto assets are included in the portfolio of investments.\n\n\n\n\n\n### **Crypto Trading Challenges.**\n\n\n\n# **Hamilton Opportunity Fund SPC provides a solution.**\n\nHamilton offers a holistic asset management solution that covers the lifecycle of your crypto investment.\n\nIt includes a fully developed:\n\n- Order Execution Management System **(OEMS)**\n- Portfolio Management System **(PMS)**\n- Risk Management System **(RMS)**\n- Advanced Suite of Sophisticated Trading Algorithms **(ALGO)**\n- Real-Time and Historical P&L and Exposure Tracking System **(Reporting/Compliance)**\n\nHamilton provides an integrated network into all major crypto exchanges.\n\n\n\n\n\n### **Our Solution.**\n\n\n\n\n\n## **Algorithmic Trading and Technology – Paradigm Overview.**\n\nCutting-edge technology is central to our ideology. We define ourselves as a data-driven firm that utilises technology to optimise investment management systems. We strongly believe in the automation of ideas, scientific research and embracing technology to help us achieve our trading objectives. However, we retain the human element and consistently investigate and question our approach to investing. We apply data analysis and sound judgement to tackle some of the world's most complex investment management challenges.\n\nWe are a team of traders, engineers, scientists / researchers and technologists that work collectively towards a common goal – putting capital to work in the most **efficient and optimal means possible**. By taking calculated risks, we aim to consistently generate alpha for our clients in the crypto space across all market conditions in a very **disciplined, scientific and research-oriented approach**.\n\n\n\n### **Algorithmic Trading Techniques.**\n\nTechniques we aim to apply over time include, but not limited to:\n\n\n\n#### **Algorithmic Trading Techniques.**\n\nOur trading team has been forefront of trading traditional asset classes with diverse backgrounds spanning **Equites**, **Fixed Income**, **FX** and **Commodities**. We have ported over this wealth of knowledge into the crypto space with the objective to provide a range of investment products to institutional investors.\n\n\n\n\n\n### **Machine Learning (ML) And Artificial Intelligence (AI).**\n\nThe team is dedicated to keeping abreast and embracing the latest advancements to utilize some of the most sophisticated research techniques in academia.\n\nWe don't blindly adopt these approaches – on the contrary, we apply rigorous scientific research to enhance the knowledge and experience we have gained to aid our investment approach and test our hypotheses.\n\nWe don't segregate the human and machine element but recognise the power in blending the two worlds. At our foundation we make sure that we understand our models and discern the logic behind the research.\n\n### ML And AI Techniques\n\n\n\n\n\n**3**\n\n# **Machine Learning (ML) & Artificial Intelligence (AI).**\n\n#### **Example Hamilton Fund AI Use Case:**\n\n\n\nHamilton has developed our own Machine Learning Natural Language Processing Algorithm, which includes a document parser to produce structured data in the form of machine-readable language. Algorithms and historical baselines have been built to generate Alpha and actionable Market Intelligence.\n\n**2**\n\nThe algorithm uses a multi-pass approach combining techniques like stemming and lemmatisation to achieve unparalled results. The learning environment is both supervised and unsupervised and uses programmatic regression analysis.\n\n**4**\n\nIt is not just what is being said in Traditional and Social Media, it is who is saying it. Hamilton has engineered a twelve-factor algorithm to score each source before inclusions in sentiment and volume metrics. The ability to eliminate spam and bad actors produces a pure data set to enhance trading signals.\n\nAt Hamilton we employ the use of the latest AI techniques to support our advanced Quantitative Trading strategies across the Crypto Asset class, Market Making, Algorithmic Execution, Asset Management, TCA, Risk, Research and Market Intelligence.\n\n\n\n**The Hamilton Opportunity Fund** specialises in products catered for the digital asset class. The fund employs a multi-strategy approach that focuses on both discretionary and systematic strategies. Alpha-oriented signals are researched, and trading strategies are built around these signals in a variety of cryptocurrencies.\n\nThe objective of the fund is to offer investment products that **optimise risk** and **return utilising modern portfolio theory** and **active risk management**. We aim to run discretionary and quantitative algorithmic trading strategies to cater for different investor paradigms.\n\n\n\n\n\n#### **Himalaya Digital Asset Fund.** A Passive Investment Strategy.\n\nThe Himalaya Digital Asset SPC Fund is a buy and hold fund that is open to investors. Key characteristics of the fund include:\n\n\n\nWe have acquired powerful insights into the fundamentals and economic value of crypto assets, which enables us to accurately discern the valuations and price action of crypto assets. There is no shortage of new coins/projects entering the crypto space. As a result of the saturated scene, we are highly selective of the projects that we choose to invest in. After prudent consideration, we then leverage our broad network to continue to generate significant returns.\n\nWe have realised the potential of the **Himalaya Coin** and invested **100% of the AUM** in the Himalaya Digital Asset SPC into this project. Our size and network has led to secure allocations of the Himalaya coin at Strategic investor rounds which is not available to retail investors.\n\nThe Himalaya **HDO** and **HCN** coins are designed to form part of an ecosystem that includes an exchange trading platform and a payment platform, connecting merchants and users to a payment infrastructure. These coins are at the core of the ecosystem and enable our clients to interact within the Himalaya network.\n\n\n\n### **HDO Himalaya Dollar**\n\nThe Himalaya Dollar (HDO) has been designed to act as the new kind of digital infrastructure, built on a foundation solid enough to eliminate the inadequacies built into existing offering, with the goal of facilitating mass adoption. The Himalaya Dollar is a stable coin, pegged to the United States dollar, and supported 1-to-1 by a reserve of U.S. dollars [and U.S. Dollar denominated high quality liquid assets] deposited with regulated financial institutions (the \"Reserve\").\n\nThe definitive product is an evolved cryptocurrency designed to provide stability, liquidity, convenience and confidence to consumers and investors through a framework of transparency, regulatory compliance and network integrity, that is aligned with those of leading financial institutions.\n\nThe Himalaya Dollar will be issued through the Himalaya Exchange, transactions will be facilitated using hybrid blockchain technology, which combines the Ethereum and Quorum Blockchains.\n\n### **HCN Himalaya Coin**\n\nThe Himalaya Coin (HCN) is an ERC20 token created to be used on the Himalaya Pay ecosystem. HCN tokens holders will be provided with access to limited edition items, exclusive offerings, as well as premium merchant products and services which can be accessed through the Himalaya Pay App.\n\nHimalaya Coin is set to change the way we spend in store and online. Real world vendors will accept HCN positioning it as digital money for everyday use. Their instant transaction time and low fees makes Himalaya Coin a preferred method of payment.\n\nThe HCN will also support charities, actions, development, and new projects for the Himalaya Ecosystem.\n\n\n\n### **Himalaya Coin Solution.**\n\nHimalaya Coin is on a mission to revolutionise the blockchain payment industry. The concept driving the HCN is to help alleviate the current issues existing within the private capital industry. By establishing a liquid marketplace, the Himalaya Coin will:\n\n- reduce lock up of capital and mobilise capital by improving its velocity;\n- open different asset classes to a broader global investor base represented by both institutions and individuals;\n- enhance transparency and competitiveness in the private capital industry; and\n- as a result, improve the availability of capital for entrepreneurs.\n\n\n\nWith secondary market liquidity, the Himalaya Coin is introducing a new \"**Digital Asset Class**\". This advanced category has a better risk and yield profile compared to direct investments in start-ups or Venture Capital funds, as in a traditional limited partner model.\n\n\n\n### **Himalaya Coin.**\n\n#### PRINCIPAL **FUNCTIONALITIES**\n\n#### TRADING ON **THE HIMALAYA EXCHANGE**\n\nOn the Himalaya Exchange HCN Credits will be issued on, and fully transferable, through the Himalaya Exchange, enabling members to freely trade HCN Credits for other cryptocurrency Credits available on the Himalaya Exchange.\n\n#### HIMALAYA PAY **APP**\n\nMembers can use the Himalaya Pay App, a dedicated mobile payment application, to make fast and secure purchases using HCN Credits from merchants in the Himalaya Ecosystem, including new and established brands, who it is anticipated will provide access to products and services to HCN Credit holders.\n\n#### HIMALAYA EXCHANG **AWEBSITE & APP**\n\n\n\nThrough the Himalaya Exchange App users will be able to access the Himalaya Exchange trading platform to purchase, exchange and trade HCN Credits.\n\n| TOKEN NAME | HIMALAYA COIN |\n|----------------------|-------------------------------|\n| TOKEN TICKER | HCN |\n| ISSUER JURISDICTION | BRITISH VIRGIN |\n| INITIAL ISSUE DATE | 22 APRIL 2021 |\n| INITIAL ISSUE PRICE | 0.10 HIMALAYA
U.S. DOLLARS |\n| ACCEPTED PAYMENT | U.S. DOLLARS
DOLLAR CREDIT |\n| HCN INITIAL ISSUANCE | 1,000,000,000 |\n\n#### PRINCIPAL **BENEFITS**\n\n\n\n\n\n#### TRANSPARENCY & **SECURITY**\n\nA transparent asset benefitting from a robust and secure platform.\n\n\n\n**LIQUIDITY** Access to a liquid market with Credits\n\ncorresponding to a range of digital assets.\n\n\n\n#### **Himalaya Digital Asset SPC Fund.** A Passive Investment Strategy.\n\nOver the coming months, we will be launching several more cryptocurrency strategies, that will be available as separate investable sub funds.\n\n**Initially we will introduce a BTC and ETH fund, as these two coins represent the leaders in terms of blockchain technology, liquidity and market capitalisation.**\n\nObtaining crypto exposure can be daunting even for the most experienced investors. We offer institutional grade execution, custody and security that assures our clients that they can rely on our expertise to navigate through the intricacies of crypto investments. Our products facilitate a smooth initiation into the world of crypto, for just a small fee.\n\n\n\n\n\n# \"We Remove The Barriers Of Investing In Crypto.\"\n\n\n\n\n\nEase of Investment\n\n\n\nCompliance & Tax\n\n\n\nResearch Trading\n\n\n\nTrading\n\n\n\nExperience Hedging Reporting Security\n\n\n\nHedging\n\n\n\n\n\n\n\nSecurity\n\n\n\n### **Secure Custody.**\n\nAt Hamilton the security of assets is of paramount importance. This is where our **award-winning custody** solution comes in.\n\n\n\n**Secure Custody**\n\n- ✓ MPC protected custodial architecture.\n- ✓ Cold, warm, hot & proxy layers supported.\n- ✓ No single point of failure.\n\n#### Protection against:\n\n- ✓ Employee Theft\n- ✓ Third-party Computer Crime\n- ✓ Funds Transfer Fraud\n- ✓ Cyber Losses (Crime through fraud/theft, viruses, hacking)\n- ✓ Property loss (relevant to the assets) within Hamilton premises & transit\n\n\n\n#### **Connected Trading**\n\n- ✓ Trade out of cold storage with ClearLoop.\n- ✓ Move assets instantly between 30+ top-tier exchanges.\n- ✓ Tight spreads directly through API enabled eOTC RFQ or streaming.\n\n\n\n#### **Audited, Certified & Insured**\n\n- ✓ FinCEN & FCA registered Money Services Business.\n- ✓ ISO 27001 and Cyber Essential Plus certified & registered.\n- ✓ Aon brokered Crime insurance policy.\n\n\n\nOur insurance is based on a Crime policy and protects against threats to/on our infrastructure. This policy doesn't cover assets on third-party/other infrastructure where the risk is not something we can control or manage. The cost of the premium is retained by Hamilton, and not passed onto Clients. If Clients would ever wish to increase the policy limit, an excess layer can ben arranged for the Client directly through AON.\n\n\n\n### **ASSET SECURITY OPTIONS.**\n\n\n\n**Hot Wallet**\n\nAccessible via an online server.\nAn agile, easy and convenient\noption for trading.\n\nVulnerable to the most frequent\ntype of threat, a network attack.\n\nNo control over the key\n\nPrivate keys are stored on a user's physical device, such as a laptop, mobile or PC.\nRisk of losing or compromising the device.\n\nMalware attacks as the device remains connected to the internet.\n\nKey shares are created simultaneously and in isolation. By using MPC crytography, these shards allow transactions to be signed online without disclosing the underlying private key.\n\nMinimizes the risk to the quality of the fundamental cryptographic protocols.\n\n**HSM (Hardware**\n**Security Module)**\n\nPrivate keys are stored on a dedicated device, architected to perform specific functions, primarily signing transactions.\n\nRequires a highly secure environment and a controlling person/entity, meaning a single point of failure.\n\n## Key Sharing\n\nPrivate keys are split into parts, encryptpted and distributed to different parties and/or locations.\n\nAn advanced method, yet remains a single point of failure during the signing process.\n\nPrivate Key Management – Mitigating Single Point of Failure. Hamilton has adopted the Gold Standard of Private key Cryptography Security. We use a Multi Person Computation (MPC) approach to private key encryption.\n\n\n\n#### **Logic of Private Key Sharding**\n\nPrivate keys are fragmented into shares, encrypted and divided among various parties.\n\nWith key sharding in place, for a potential hacker to capture a user's wallet, they would need to attack: several organisations, multiple platforms and multiple locations simultaneously.\n\n\n\n\n\n▷ (t, n) Secret Sharing\n\n-\n-\n\n✓Using $t-1$ degree random polynomial with random coefficient\n\n(Step 1. Polynomial construction ) A dealer selects a secret, $K$ (< $p$ : prime) as a constant term and $t-1$ degree random polynomial with arbitrary coefficients as :\n\n$$F(x) = K + a\\_1x + a\\_2x^2 + \\dots + a\\_{k-1}x^{t-1} \\bmod p$$\n\n$$K = \\sum\\_{j \\in \\Lambda} K\\_j \\lambda\\_{j,\\Lambda} \\bmod p, \\quad \\text{where} \\quad \\lambda\\_{j,\\Lambda} = \\prod\\_{l \\in \\Lambda \\setminus \\{j\\}} \\frac{l}{l-j}$$\n\n\n\nAny 2 of 3 points combined deterministically define the underlying functions.\n\n#### Maths Algorithm of **Private Key Sharding**:\n\n- Shamir's Secret Sharing scheme is an algorithm that was first proposed in 1979 by the renowned Israeli cryptographer Adi Shamir.\n- It allows for information to be broken into many shares, while only requiring a fraction of those shares to reconstruct the original secret.\n- This means that, instead of requiring all shares to reconstruct the original secret, Shamir's scheme requires a minimum number of shares — this minimum is referred to as the threshold.\n\n\n\n## **Secure Multi Party Computation (MPC).**\n\n- Each party controls a share of the key rather than the full key\n- Parties complete their part of the signature algorithm in a sequence\n- Key shares are never revealed between participating parties\n- To reach the highest degree of security, the full private key is never assembled on any server.\n\n\n\nIndependent Fund\nAdministrator\n\n\n\n# **To access the entire market safely, build a Walled Garden.**\n\n- Identity of participating exchanges is transparent.\n- All authorised addresses are whitelisted by the participating exchanges.\n- Any attempt to send funds outside the Walled Garden triggers a multi signature approval procedure.\n\n\n\n\n\n# **Off Exchange Settlement.**\n\n- The fund's assets are held by the independent custodian in an MPC vault.\n- An exchange of capital is assigned to this venue, advised by the custodian.\n- P&L can be settled continually on a realtime basis.\n- In the case of exchange failure, there is zero counterparty risk.\n- Crypto Assets are stored offline in a vault and virtual balances are held on various exchanges. Trades are then settled daily with the custodian.\n\n\n\n\n\n\n\n**The Fund always controls the fiat or crypto currency accounts.**\n\nAll exchange and bank accounts are held in the name of Hamilton fund. Hamilton holds the security credentials of the exchanges, and the administrator holds the exchange 2FA token.\n\nThe investment manager requests the transfer, but it is only executed by Hamilton Custodian Account or the fund administrator. The investment manager does not have direct access to any fiat or crypto funds.\n\n\n\n# **Inter-exchange safeguarding.**\n\nWalled Garden.\n\nBy using a Fund's exchange APIs and the Hamilton Platform for portfolio management, Hamilton can construct a Walled Garden where it offers custody, and connection to various exchanges to facilitate trading and liquidity.\n\nAs an additional layer of security, Fund Administrators retain Read-Only access to prepare and preserve visibility of balances.\n\nTo ensure Digital Assets never leave the Walled Garden, a 3rd party is entrusted with Multi-signature authorisation.\n\n\n\nWe recognised the lack of infrastructure serving institutional investors who need highly secure access to digital assets. Hamilton Fund was established to address this shortcoming.\n\n#### **HAMILTON**\n\n#### **DIGITAL ASSET CUSTODY.**\n\nHamilton has access to a pioneering blockchain agnostic system that employs distributed keys to allow access and grant permission to transactions generated from a Hamilton Platform wallet. The application functions entirely offline, in a key-less and server-less environment, assuring maximum security for digital assets.\n\n#### **HAMILTON PLATFORM DIGITAL ASSET ACQUISITION.**\n\nTo support institutional investors, a portfolio management and trading platform has been set up by integrating multiple-user logins and multiple trading account creation for teams. To facilitate even greater liquidity, Trading APIs with multiple exchanges are in place with the added protection of Hamilton secure custody vaults.\n\n#### **HAMILTON WALLED GARDEN**\n\n#### **DIGITAL ASSET PRIME BROKERAGE.**\n\nDeploying the Fund's exchange APIs and the Hamilton Platform for portfolio management, Hamilton can establish a Walled Garden that provides custody and facilitates trading and liquidity between multiple exchanges. Fund Administrators retain Read-Only access to prepare and maintain visibility of balances. A Trusted 3rd party guarantees Digital Assets require multi-signature authorisation from Hamilton Platform- digital asset acquisition, to leave the Walled Garden.\n\nHamilton's DNA is a blend of industry acumen and investment experience at some of the world's top firms, including:\n\n- Goldman Sachs\n- Macquarie\n- Dresdner Kleinwort\n- NatWest\n- Mizuho\n- GSR Capital Management\n- TradeLink\n- Bank of America\n- Credit Agricole Group\n- Vanguard\n- Rothesay Life\n- Barclays\n\nHamilton is based in London, with a team that operates under strict KYC/AML processes. In its nascent phase, digital assets remains unregulated by the FCA, however Hamilton complies to the same standards applied to supervised financial institutions.\n\n\n\n### **Fund Administration / Reporting.**\n\nWe have partnered with one of the world's leading Fund Administrators, ranked by HFM as a top-tier service provider in the Hedge Fund Space.\n\n*\"Hamilton's Fund Administrator for the Group is NAV a privately-owned fund administrator. NAV has achieved 30 years of year-over-year growth solely via commercial success, innovation, service delivery, business diversity and maintaining a remarkable 99% client retention rate. They are among the top 10 global hedge fund administrators by number of funds, servicing more than \\$110 billion AUM.\"*\n\n#### **HAMILTON**'S CLIENT WEB PORTAL\n\nEmpowers investors to access a broad range of accounting reports, risk analytics and portfolio data.\n\nFiled 04/07/23 Page 39 of 46\n\n**Interactive Data Mining Tools**\n\n**Full Library of Historical Fund Performance**\n\n**Risk Analytics\\***\n\n**Advanced P&L, Portfolio Reporting**\n\n**Accounting and Investor Records**\n\nHFM EUROPEAN QUANT AWARDS 2022\nWinner\nBest fund administrator\n\nUS QUANT AWARDS 2021\nWinner\n\nOPERATIONS & SERVICES AWARDS 2021\nWinner\nNAV Fund Administration Group\n\nhedgeweek\nWinner\nBest Fund Administrator\n\nHFM TOP-RATED GLOBAL FUND ADMINISTRATOR\n\nEUROPEAN QUANT AWARDS 2020\nWinner\nBest Administrator\n\nAltCredit FUND INTELLIGENCE US SERVICES AWARDS 2020\nWinner\nBest Fund Admin private credit\n\nHFM US SERVICES AWARDS 2020\nWinner\nBest Administrator Middle-Office Services\n\nCTA INTELLIGENCE US Awards 2019\nWinner\nBEST CTA ADMINISTRATOR\n\nHFMWeek US Fund Services Awards 2018\nWinner\nBest Administrator under \\$30bn single manager\n\nHFMWeek US Fund Services Awards 2018\nWinner\nBest Administrator small managers\n\n@preqin\n2017 Leading Fund Administrator Servicing CTAS\n\nAI 2016 HEDGE FUND AWARDS\nWinner\nMost Trusted Hedge Fund Administrator\n\nAI 2016 HEDGE FUND AWARDS\nWinner\nLeader in Multi-Advisor Platforms & Complexes\n\nHFM AWARDS 2016 US TECHNOLOGY\nWinner\nBEST MANAGED ACCOUNT PLATFORM TECHNOLOGY\n\nCTA INTELLIGENCE US SERVICES AWARDS 2016\nWINNER\nMOST INNOVATIVE FUND ADMINISTRATOR\n\nHFM AWARDS 2016\nHIGHLY COMMENDED\nHEDGE FUND ADMINISTRATOR REPORTING\n\nCTA INTELLIGENCE US CTA SERVICES AWARDS 2016\nWINNER\n\nHFM AWARDS 2015\nHIGHLY COMMENDED\nMOST INNOVATIVE FUND ADMIN OVER \\$30BN\n\n2014 INTERNATIONAL HEDGE FUND AWARDS\nUS Fund Administrator Service Provider of the Year\nNAV Consulting Inc.\n\n\n\n### **INVESTOR PORTAL.**\n\n\n\n\n\n\n\n\n\n### **The Team.**\n\nThe team at Hamilton Investment Management Ltd bring together a unique combination of funds management, venture capital, and crypto experience to offer a comprehensive service and product offering.\n\n\n\n### **Fund Manager Bio: Kin Je.**\n\nKin Je has almost 30 years of experience as a fund manager and investment banker, currently managing a global investment fund with an Asset Under Management of USD12 billion. Prior to that, Mr. Je was the Chairman of Equity Capital Markets, Greater China at the Macquarie Banking Group for 10 years, managing its Greater China capital markets and principal investment activities. Before his position at Macquarie, Mr. Je served as the senior management for several investment banks including as the Managing Director and joint venture partner of China Merchant Securities (Hong Kong) Limited, Executive Director and Head of China of Credit Agricole Indosuez (and Board member of its securities arm, Indosuez W.I. Carr Securities), Director of Dresdner Kleinwort Wasserstein and Vice President of NatWest Markets.\n\nMr. Je has successfully completed more than 70 global IPO, M&A and principal investment transactions which amounted to US\\$40 billion. Mr. Je is recognised by \"International Who's Who\" as a leading investment banking professional in the world and is awarded honourable citizenship of the Washington State, U.S.A. for his contribution to Sino-US relationship. Mr. Je is a Vice Chairman of the Hong Kong International Blockchain and Financial Association, an NGO promoting blockchain technology and advocating crypto market regulation.\n\nMr. Je graduated from the Manchester Business School and the University of Wales (U.K.) with a Master of Business Administration. Mr. Je is a fellow member of the Association of Chartered Certified Accountants (U.K.) and the Hong Kong Institute of Certified Accountants. He is also a member of the Certified Financial Consultants (U.S.).\n\n\n\n### **Fund Manager Bio: David Fallon.**\n\nDavid is a Portfolio Manager at Hamilton Investment Management Ltd. Previously, he was a Portfolio Manager at TradeLink Holdings LLC, a diversified alternative investment and proprietary trading firm founded in 1979 by Walt Weissman. Prior to his tenure at Tradelink, David was a Portfolio Manager at Vanguard Asset Management and a Portfolio Manager at the Diversified Trading Group of Mizuho Bank London.\n\nBefore joining investment banking and Mizuho Bank in 2010, David studied applied mathematics and finance in University College Dublin. He holds an MSc in Quantitative Finance from University College Dublin, Thesis: A Genetic Programming Self Evolving Trading System and a BSc Hons in Mathematics and Computer Science from University College Dublin. Neural Networks & Natural Computing are of keen research interest to him. Natural computing (Biologically inspired algorithms for financial modelling) present a lot of opportunities for future developments of computational methods. Various bio-inspired methodologies such as neural networks, evolutionary computing (particularly genetic algorithms and grammatical evolution), particle swarm, all present endless possibilities for future developments in computational methods in finance.\n\nDavid has applied some of these techniques in developing proprietary trade finding tools throughout his trading career.\n\n\n\n### **Fund Manager Bio: Lee Alfay.**\n\nLee has 16 years experience in finance across Asia with a focus on electronic trading. Lee started his career with Bank of America in Singapore as a FX trader building automated proprietary trading strategies in the Spot FX space. He subsequently moved into a hedge fund where he built out a portfolio of FX strategies encapsulating marketmaking and arbitrage logic. Lee then joined a high frequency trading firm where he spent 5 years researching and trading a suite of high frequency trading strategies in the delta one space.\n\nLee then joined Goldman Sachs in HK where he spent almost four years in their FICC department initially as a Quantitative Algo Strategist then subsequently becoming an eFX trader managing the trading book in the Asian time-zone. Lee has also spent time with a Crypto trading firm in Japan focusing on trading and risk managing a portfolio of crypto assets. Lee's most recent experience was with a multi-strategy hedge fund focusing on trading delta one products.\n\nPrior to joining investment banking, Lee graduated from the Queensland University of Technology with Honours in Finance. Lee's undergraduate degree was a Bachelor of Business in Finance and an Extended Major in Economics.\n\n\n\n#### **Himalaya Digital Asset SPC Fund.** A Passive Investment Strategy.\n\n#### **Fund Terms**\n\n| Investors | Qualified Investors |\n|----------------------------------------------------|---------------------|\n| Minimum Investment | \\$100,000 USD |\n| Fund Management Fee | 1.0% |\n| Performance Fee
(subject to high water
mark) | 0% |\n\n| Subscriptions | Monthly |\n|-------------------------------------------|-----------|\n| Redemptions | Quarterly |\n| Recommended
Minimum Investment
Term | 3 Years |\n\n\n\n\n\n### **Our Partners.**\n\n","body_zh":"证物 G\n\n\n概览。\n\nHamilton Investment Management Limited（汉密尔顿投资管理有限公司，简称“Hamilton”）是一家以技术为核心、以价值为导向的投资管理公司，服务于投资广泛资产类别的世界知名机构投资者。Hamilton 采用精密的多元策略投资方法，以产生最佳的风险收益特征。这确保了能够跨越不同的投资产品和地域市场，捕捉最具吸引力的投资机会。\n\nThe Hamilton Opportunity Fund SPC（汉密尔顿机会基金独立投资组合公司）旨在将传统金融与数字资产市场连接起来，同时保持加密行业现有的市场领先标准。\n\n\n\nThe Hamilton Opportunity Fund SPC 是专为机构客户量身打造的。我们为企业投资者提供具有机构级品质的加密货币资产风险敞口。立足于宝贵资源和全球关系的坚实基础，我们利用无与伦比的能力为全球最负盛名的机构投资者管理资本。\n\n我们专业的团队由具备多元技能的高级专业人士组成，他们通力协作，确保每一笔交易和投资的无缝执行，弥合传统金融与新兴加密领域之间的差距。我们在多个资产类别、行业细分领域和市场所积累的综合专业知识，使我们能够在面对复杂的行业动态时，对我们的投资进行分析、估值和支持。\n\n\n\n我们的目标是为机构投资者提供涉足一系列数字资产的途径，使他们在投资产品的安全性、保障性、托管、多元化以及最佳风险收益特征方面高枕无忧。\n\n该团队由雄心勃勃的人士组成，他们此前曾在一些世界上最受尊重的机构工作，包括全球投资银行（Macquarie（麦格理）、Goldman Sachs（高盛）、Bank of America（美国银行）、Mizuho（瑞穗））以及资产管理机构（Vanguard（先锋领航）和 Rothesay（罗特西））。多年的宝贵经验为我们的投资者注入了与我们合作所需的信心。\n\n我们的加密投资产品与资本保值及运营专业知识相结合，专为寻求新机会以提升其投资组合的投资者而设计。\n\n\n\nHamilton 团队的基因融合了在顶级华尔街银行和全球对冲基金数十年的行业敏锐度与投资经验。\n\n\n\n\n“加密资产可作为对冲宏观经济不确定性的工具”。\n\n\n\n在以高度波动性和宏观经济不确定性为特征的全球经济气候下，变化是唯一的永恒。加密资产可作为对冲宏观经济不可预测性的工具，同时也提供了针对传统资产类别的多元化配置。\n\n这一资产类别超越了价值储存手段，可作为支付手段，并随着时间的推移成为一种升值（但具有波动性）的资产。\n\n它们拥有颠覆当前传统且运作较慢的传统金融系统的能力。\n\n随着时间的推移，货币已经从物物交换系统演变为以大宗商品（例如黄金）为支撑的结构，再到当前的自由浮动汇率系统。我们认识到区块链技术和加密货币是货币演进中的下一个重要阶段。\n\n随着比特币的总市值现已突破 1 万亿美元大关，这一里程碑使数字资产成为全球最大资产管理机构利润丰厚的投资标的。\n\n它们提供非对称收益。比特币的固定供应量（2100 万枚），加上日益增长的机构需求以及对加密货币更广泛的接纳度，为数字资产培育了一个令人振奋且独特的格局。\n\n\n加密领域的机构化。\n\n一些全球规模最大、最受尊重的机构终于意识到了加密货币在更广泛金融领域中的显著地位，并已开始进行投资。\n\n\n\n积累了近 ~100K BTC（按当前市场价格计算价值超过 USD $5b）。\n\n为机构客户提供直接投资比特币基金的途径。\n\n推出加密货币篮子，为客户提供加密货币风险敞口。\n\nVISA（维萨）\n\n支持比特币购买并在其网络中整合比特币。\n\n在 Hamilton，我们相信这仅仅是冰山一角，随着更多机构的跟进，我们通过我们的基金产品为投资者提供投资和获取加密货币风险敞口的能力。\n\n\n加密货币市值（USD $）。\n\n全球加密货币市值为 1.8 万亿美元。该图表显示了全球市场资本总额的历史数据。总市值参数是通过将所有加密货币的市值以美元累计汇总计算得出的。\n\n\n总市值占比支配地位（%）。\n\n该图表显示了最受欢迎的加密货币占总市值百分比的历史数据。此处展示了诸如 Bitcoin (BTC)（比特币）、Ethereum (ETH)（以太坊）、XRP（瑞波币）、Bitcoin Cash (BCH)（比特币现金）、Litecoin (LTC)（莱特币）、EOS 等加密货币的市场支配地位。\n\n\n\n加密货币与其他资产类别不相关。\n\n加密资产所展现的独特性质意味着投资者可以在限制整体投资组合风险的同时捕捉潜在增长。\nBitcoin（比特币） Ethereum（以太坊） EOS TRON（波场）\nS&P 500（标普500） 8% 10% 4% 11%\nGold（黄金） 4% 8% 5% 0%\nSilver（白银） 0% 8% 8% -2%\n图片：[三个向上三角形] BLOK 图片：[三个向上三角形] 26% 28% 21% 20%\nRussell 2000（罗素2000） 9% 10% 5% 13%\nReal Estate（房地产） -1% -2% -1% 0%\nBond Market（债券市场） -6% -7% -3% -10%\n\n\n\n\n有效前沿，优化。\n\n现代投资组合理论考虑资产的收益率、波动性和相关性，并试图配置每种类型的不同组合以降低整体投资组合风险。\n\n可以构建一个投资组合的“有效前沿”，在其中每单位风险的收益达到最优。\n\n正如我们所见，加密资产类别与其他资产类别不相关，因此可以提供多元化效益。\n\n因此，我们相信，一旦将加密资产纳入投资组合，有效前沿将实现向外扩张。\n\n\n\n\n加密交易挑战。\n\n\nHamilton Opportunity Fund SPC 提供解决方案。\n\nHamilton 提供涵盖您加密投资全生命周期的整体资产管理解决方案。\n\n它包括一套完整开发的：\n\n- 订单执行管理系统（OEMS）\n- 投资组合管理系统（PMS）\n- 风险管理系统（RMS）\n- 先进的高级交易算法套件（ALGO）\n- 实时及历史损益与风险敞口跟踪系统（报告/合规）\n\nHamilton 提供接入所有主要加密货币交易所的综合网络。\n\n\n\n\n我们的解决方案。\n\n\n\n\n算法交易与技术——范式概览。\n\n尖端技术是我们理念的核心。我们将自己定义为一家利用技术优化投资管理系统的数据驱动型公司。我们坚信理念的自动化、科学研究以及拥抱技术有助于我们实现交易目标。然而，我们保留了人的要素，并持续审视和质疑我们的投资方法。我们运用数据分析和健全的判断来应对世界上一些最复杂的投资管理挑战。\n\n我们是一支由交易员、工程师、科学家/研究员和技术专家组成的团队，为了一个共同的目标齐心协力——以尽可能最高效、最优化的手段运用资本。通过承担经过计算的风险，我们旨在以高度规范、科学且以研究为导向的方法，在所有市场环境下持续为我们在加密领域的客户创造超额收益。\n\n\n算法交易技术。\n\n我们旨在长期应用的技术包括但不限于：\n\n\n算法交易技术。\n\n我们的交易团队一直处于传统资产类别交易的前沿，拥有涵盖股票、固定收益、外汇和大宗商品的多元背景。我们已将这些丰富的知识迁移至加密领域，旨在为机构投资者提供一系列投资产品。\n\n\n\n\n机器学习（ML）与人工智能（AI）。\n\n该团队致力于紧跟并拥抱最新进展，以运用学术界一些最精密的研技术。\n\n我们并非盲目采用这些方法——相反，我们应用严格的科学研究来增强我们已获得的知识和经验，以辅助我们的投资方法并检验我们的假设。\n\n我们不将人的要素与机器的要素割裂开来，而是认识到融合这两个世界的力量。在我们的基石中，我们确保理解我们的模型并洞察研究背后的逻辑。\n机器学习与人工智能技术\n\n\n\n\n\n3\n机器学习（ML）与人工智能（AI）。\nHamilton 基金人工智能应用案例示例：\n\n\n\nHamilton 开发了我们专有的机器学习自然语言处理算法，其中包括一个文档解析器，用于生成机器可读语言形式的结构化数据。已构建算法和历史基准以产生超额收益和可操作的市场情报。\n\n2\n\n该算法采用多次遍历的方法，结合词干提取和词形还原等技术，以取得无与伦比的效果。学习环境兼具监督学习与无监督学习，并使用程序化回归分析。\n\n4\n\n这不仅关乎传统媒体和社交媒体上在说什么，更关乎是谁在说。Hamilton 设计了一种十二因子算法，在将每个信息源纳入情绪和交易量指标之前对其进行评分。剔除垃圾信息和不良行为者的能力产生了一个纯净的数据集，从而增强了交易信号。\n\n在 Hamilton，我们运用最新的 AI 技术来支持我们在加密资产类别、做市、算法执行、资产管理、交易成本分析（TCA）、风险、研究和市场情报方面的先进量化交易策略。\n\n\n\nThe Hamilton Opportunity Fund 专注于为数字资产类别量身定制的产品。该基金采用兼顾主观策略和系统化策略的多元策略方法。围绕以获取超额收益为导向的信号进行研究，并在各种加密货币中围绕这些信号构建交易策略。\n\n该基金的目标是利用现代投资组合理论和主动风险管理，提供优化风险和收益的投资产品。我们旨在运行主观和量化算法交易策略，以迎合不同的投资者范式。\n\n\n\n\nHimalaya Digital Asset Fund（喜马拉雅数字资产基金）。一种被动投资策略。\n\nHimalaya Digital Asset SPC Fund（喜马拉雅数字资产独立投资组合公司基金）是一只向投资者开放的买入并持有型基金。该基金的主要特征包括：\n\n\n\n我们对加密资产的基本面和经济价值已获得深刻见解，这使我们能够准确洞察加密资产的估值和价格走势。进入加密领域的新币种/新项目层出不穷。鉴于这一领域的饱和态势，我们对所选择投资的项目持高度审慎和严格筛选的态度。经过审慎考量后，我们进而利用我们广泛的网络持续创造显著的回报。\n\n我们已认识到 Himalaya Coin（喜马拉雅币）的潜力，并将 Himalaya Digital Asset SPC 旗下资产管理规模（AUM）的 100% 投资于该项目。凭借我们的规模和网络，我们成功锁定了喜马拉雅币在战略投资者轮次的份额配额，而该轮次并不对散户投资者开放。\n\n喜马拉雅 HDO 与 HCN 币旨在成为一个生态系统的组成部分，该生态系统涵盖交易平台和支付平台，将商家与用户连接至支付基础设施。这些代币处于该生态系统的核心，使我们的客户能够在喜马拉雅网络内进行互动。\n\n\nHDO 喜马拉雅美元\n\n喜马拉雅美元（HDO）旨在作为一种新型数字基础设施运行，建立在足够坚实的基础之上，以消除现有产品固有的不足，其目标是促进大规模普及应用。喜马拉雅美元是一种稳定币，与美元挂钩，并由存放在受监管金融机构的美元储备［以及以美元计价的高质量流动性资产］按 1:1 的比例提供支持（下称「储备」）。\n\n最终产品是一种演进型加密货币，旨在通过与领先金融机构相一致的透明度、监管合规性和网络完整性框架，为消费者和投资者提供稳定性、流动性、便利性和信心。\n\n喜马拉雅美元将通过 Himalaya Exchange（喜马拉雅交易所）发行，交易将借助结合了 Ethereum（以太坊）与 Quorum 区块链的混合区块链技术进行促成。\nHCN 喜马拉雅币\n\n喜马拉雅币（HCN）是一种 ERC20 代币，专为在 Himalaya Pay（喜马拉雅支付）生态系统中使用而创建。HCN 代币持有者将获得购买限量版商品、独家产品以及通过 Himalaya Pay App 获取优质商家产品和服务的权限。\n\n喜马拉雅币必将改变我们在实体店和线上的消费方式。实体商家将接受 HCN，使其定位为日常使用的数字货币。即时的交易时间与低廉的手续费使喜马拉雅币成为首选的支付方式。\n\nHCN 还将为喜马拉雅生态系统的慈善活动、行动、开发及新项目提供支持。\n\n\n喜马拉雅币解决方案。\n\n喜马拉雅币的使命是彻底变革区块链支付行业。推动 HCN 的核心理念是帮助缓解私募资本行业内当前存在的问题。通过建立一个高流动性的市场，喜马拉雅币将：\n\n- 减少资金锁定，并通过提高资金周转速度来盘活资金；\n- 向由机构和个人组成的更广泛的全球投资者群体开放不同的资产类别；\n- 提高私募资本行业的透明度与竞争力；以及\n- 由此提高创业者获取资金的便利性。\n\n\n\n借助二级市场流动性，喜马拉雅币正在引入一种全新的「数字资产类别」。与传统有限合伙人模式下对初创企业或风险投资基金的直接投资相比，这一先进类别具有更优的风险与收益特征。\n\n\n喜马拉雅币。\n主要功能\n在喜马拉雅交易所交易\n\n在喜马拉雅交易所，HCN 积分将在该交易所发行并可完全通过其进行转让，从而使会员能够自由地将 HCN 积分兑换为喜马拉雅交易所上提供的其他加密货币积分。\n喜马拉雅支付应用程序\n\n会员可以使用专用的移动支付应用程序 Himalaya Pay App，使用 HCN 积分向喜马拉雅生态系统内的商家进行快速且安全的消费采购，包括新兴品牌和知名品牌，预计这些商家将向 HCN 积分持有者提供产品和服务。\n喜马拉雅交易所网站与应用程序\n\n\n\n通过 Himalaya Exchange App，用户将能够访问喜马拉雅交易所交易平台，以购买、兑换和交易 HCN 积分。\n代币名称：喜马拉雅币\n代币代码：HCN\n发行方司法管辖区：英属维尔京群岛\n首次发行日期：2021年4月22日\n首次发行价格：0.10 喜马拉雅美元 |\n接受的支付方式：美元、美元积分 |\nHCN 首次发行量：1,000,000,000\n主要优势\n\n\n\n\n透明度与安全性\n\n得益于稳健安全平台的透明资产。\n\n\n\n流动性 进入拥有与一系列数字资产对应积分的高流动性市场。\n\n\nHimalaya Digital Asset SPC 基金。一种被动投资策略。\n\n在接下来的几个月里，我们将推出更多加密货币策略，这些策略将作为可投资的独立子基金提供。\n\n起初，我们将推出 BTC 和 ETH 基金，因为这两种代币在区块链技术、流动性和市值方面均代表着行业领先地位。\n\n即使对于经验最丰富的投资者而言，获取加密货币敞口也可能是一件令人望而生畏之事。我们提供机构级的执行、托管与安全性保障，向我们的客户保证他们可以依靠我们的专业知识来应对加密投资的复杂性。我们的产品只需收取极少费用，即可助您平稳步入加密世界。\n\n\n\n\n「我们消除投资加密货币的壁垒。」\n\n\n\n\n\n投资便捷性\n\n\n\n合规与税务\n\n\n\n研究 交易\n\n\n\n交易\n\n\n\n经验 对冲 报告 安全\n\n\n\n对冲\n\n\n\n\n\n\n\n安全性\n\n\n安全托管。\n\n在 Hamilton（汉密尔顿），资产安全至关重要。这正是我们屡获殊荣的托管解决方案发挥作用之处。\n\n\n\n安全托管\n\n- ✓ 多方安全计算（MPC）保护的托管架构。\n- ✓ 支持冷层、温层、热层及代理层。\n- ✓ 无单点故障。\n针对以下情况的保护：\n\n- ✓ 员工盗窃\n- ✓ 第三方计算机犯罪\n- ✓ 资金转移欺诈\n- ✓ 网络损失（通过欺诈/盗窃、病毒、黑客攻击造成的犯罪）\n- ✓ 汉密尔顿场所内及运输途中的财产损失（与资产相关）\n\n\n互联交易\n\n- ✓ 通过 ClearLoop 实现冷存储直接交易。\n- ✓ 在 30 余家顶级交易所之间即时转移资产。\n- ✓ 直接通过支持 API 的电子场外交易（eOTC）询价（RFQ）或流式传输实现极窄买卖价差。\n\n\n经审计、认证且承保\n\n- ✓ 在 FinCEN（美国金融犯罪执法网络）及 FCA（英国金融行为监管局）注册的货币服务业务（MSB）。\n- ✓ 获得 ISO 27001 和 Cyber Essentials Plus 认证与注册。\n- ✓ 由 Aon（怡安保险）经纪的犯罪商业保险保单。\n\n\n\n我们的保险基于犯罪险保单，用于防范针对我们基础设施或在其上发生的威胁。该保单不承保第三方/其他基础设施上的资产，因为那里的风险不在我们可控或可管的范围内。保费成本由汉密尔顿承担，不会转嫁给客户。如果客户希望提高保单限额，可以通过怡安直接为客户安排超额赔偿限额层。\n\n\n资产安全选项。\n\n\n\n热钱包\n\n可通过在线服务器访问。\n一种适用于交易的敏捷、简便且便捷的选项。\n\n容易受到最常见威胁类型（即网络攻击）的影响。\n\n对密钥无控制权\n\n私钥存储在用户的物理设备上，例如笔记本电脑、手机或个人电脑。\n存在设备丢失或受损的风险。\n\n由于设备保持连接到互联网，面临恶意软件攻击。\n\n密钥分片同时且孤立地创建。通过使用多方安全计算（MPC）密码学，这些分片允许在线签署交易，而无需披露底层私钥。\n\n将对基本密码协议质量的风险降至最低。\n\nHSM（硬件安全模块）\n\n私钥存储在专用设备上，该设备专门构建用于执行特定功能，主要是签署交易。\n\n需要高度安全的环境和控制人/实体，这意味着存在单点故障。\n密钥共享\n\n私钥被分割成多个部分，经加密后分发给不同各方和/或位置。\n\n一种先进的方法，但在签名过程中仍然存在单点故障。\n\n私钥管理——缓解单点故障。汉密尔顿已采用私钥密码学安全的黄金标准。我们采用多方安全计算（MPC）方法进行私钥加密。\n\n\n私钥分片逻辑\n\n私钥被碎片化为多个分片，经加密后分配给各方。\n\n通过实施密钥分片，潜在黑客若要攻破用户的钱包，需要同时攻击：多个机构、多个平台和多个地点。\n\n\n\n\n\n▷ (t, n) 门限秘密共享\n\n-\n-\n\n✓使用带有随机系数的 t-1 次随机多项式\n\n（步骤1. 多项式构造）分发者选择一个秘密 K（< p：素数）作为常数项，以及一个带有任意系数的 t-1 次随机多项式：\n\n$$F(x) = K + a_1x + a_2x^2 + \\dots + a_{k-1}x^{t-1} \\bmod p$$\n\n$$K = \\sum_{j \\in \\Lambda} K_j \\lambda_{j,\\Lambda} \\bmod p, \\quad \\text{其中} \\quad \\lambda_{j,\\Lambda} = \\prod_{l \\in \\Lambda \\setminus \\{j\\}} \\frac{l}{l-j}$$\n\n\n\n3 个点中的任意 2 个点组合即可确定性地定义底层函数。\n私钥分片的数学算法：\n\n- Shamir（沙米尔）秘密共享方案是由著名以色列密码学家 Adi Shamir 于 1979 年首次提出的一种算法。\n- 它允许将信息拆分为多个分片，而仅需其中一部分分片即可重构原始秘密。\n- 这意味着，沙米尔方案无需全部份额来重构原始秘密，而是需要最少数量的份额——这一最小值被称为门限。\n\n\n安全多方计算（MPC）。\n\n- 各方控制密钥的一个分片，而非完整密钥\n- 各方按顺序完成签名算法中各自的部分\n- 密钥分片在参与方之间绝不公开\n- 为达到最高级别的安全性，完整的私钥绝不会在任何服务器上拼装成型。\n\n\n\n独立基金行政管理人\n\n\n若要安全访问整个市场，需建立围墙花园。\n\n- 参与交易所的身份是透明的。\n- 所有经授权的地址均被参与交易所列入白名单。\n- 任何试图将资金发送至围墙花园之外的行为都会触发多重签名审批程序。\n\n\n\n\n场外结算。\n\n- 基金资产由独立托管人保管在 MPC（多方计算）金库中。\n- 资金兑换被分配至该场所，由托管人提供建议。\n- 损益可实时持续结算。\n- 若交易所发生倒闭，不存在任何交易对手风险。\n- 加密资产离线存放在金库中，虚拟余额则存放在各交易所。随后与托管人进行每日交易结算。\n\n\n\n\n\n\n\n本基金始终掌控法定货币或加密货币账户。\n\n所有交易所及银行账户均以 Hamilton（汉密尔顿）基金的名义开立。Hamilton 掌握交易所的安全凭证，行政管理人掌握交易所的双重认证（2FA）令牌。\n\n投资经理提出调拨申请，但仅由 Hamilton 托管账户或基金行政管理人执行。投资经理无权直接接触任何法定货币或加密资金。\n\n\n跨交易所保障。\n\n围墙花园。\n\n通过使用基金的交易所 API 及 Hamilton 平台进行投资组合管理，Hamilton 能够构建一个提供托管服务的「围墙花园」，并连接至各交易所，以促进交易与流动性。\n\n作为额外的安全层，基金行政管理人保留只读访问权限，以编制并保持对余额的可见性。\n\n为确保数字资产绝不离开围墙花园，特委托第三方进行多重签名授权。\n\n\n\n我们意识到服务于需要高度安全地获取数字资产的机构投资者的基础设施匮乏。Hamilton 基金正是为了解决这一不足而设立。\nHAMILTON\n数字资产托管。\n\nHamilton 拥有开创性的、不受特定区块链限制（区块链无关）的系统使用权，该系统采用分布式密钥，以允许访问并授权由 Hamilton 平台钱包生成的交易。该应用程序完全在无密钥和无服务器的环境中离线运行，确保数字资产的最大安全性。\nHAMILTON 平台数字资产获取。\n\n为支持机构投资者，通过整合多用户登录及为团队创建多交易账户，已建立起投资组合管理与交易平台。为促进更大的流动性，已接入与多家交易所的交易 API，并享有 Hamilton 安全托管金库的额外保护。\nHAMILTON 围墙花园\n数字资产主经纪商业务。\n\n通过部署基金的交易所 API 及 Hamilton 平台进行投资组合管理，Hamilton 可以建立一个提供托管并在多家交易所之间促进交易和流动性的围墙花园。基金行政管理人保留只读访问权限，以编制并保持对余额的可见性。受信任的第三方确保数字资产需要经由 Hamilton 平台—数字资产获取的多重签名授权，方可离开围墙花园。\n\nHamilton 的基因融合了行业敏锐度与在多家全球顶尖机构的投资经验，这些机构包括：\n\n- Goldman Sachs（高盛）\n- Macquarie（麦格理）\n- Dresdner Kleinwort（德累斯顿佳禾）\n- NatWest（国民威斯敏斯特银行）\n- Mizuho（瑞穗）\n- GSR Capital Management（金沙江资本管理）\n- TradeLink\n- Bank of America（美国银行）\n- Credit Agricole Group（法国农业信贷集团）\n- Vanguard（先锋领航）\n- Rothesay Life\n- Barclays（巴克莱）\n\nHamilton 总部设在伦敦，其团队在严格的 KYC（了解你的客户）/ AML（反洗钱）流程下运作。在其初期阶段，数字资产仍未受到 FCA（英国金融行为监管局）的监管，但 Hamilton 遵守适用于受监管金融机构的相同标准。\n\n\n基金行政管理 / 报告。\n\n我们已与全球领先的基金行政管理人之一建立合作关系，该机构被 HFM 评为对冲基金领域的一流服务提供商。\n\n「Hamilton 集团的基金行政管理人为 NAV，这是一家私营基金行政管理人。NAV 仅凭借商业成功、创新、服务交付、业务多元化以及保持 99% 的卓越客户留存率，实现了连续 30 年的同比增长。按基金数量计算，他们名列全球前十大对冲基金行政管理人之一，管理资产规模超过 1100 亿美元。」\nHAMILTON 客户门户网站\n\n支持投资者访问广泛的会计报告、风险分析和投资组合数据。\n\nFiled 04/07/23 Page 39 of 46\n\n交互式数据挖掘工具\n\n完整的基金历史表现资料库\n\n风险分析\\*\n\n高级损益、投资组合报告\n\n会计与投资者记录\n\nHFM EUROPEAN QUANT AWARDS 2022\n获胜者\n最佳基金行政管理人\n\nUS QUANT AWARDS 2021\n获胜者\n\nOPERATIONS & SERVICES AWARDS 2021\n获胜者\nNAV Fund Administration Group\n\nhedgeweek\n获胜者\n最佳基金行政管理人\n\nHFM 顶级全球基金行政管理人\n\nEUROPEAN QUANT AWARDS 2020\n获胜者\n最佳行政管理人\n\nAltCredit FUND INTELLIGENCE US SERVICES AWARDS 2020\n获胜者\n最佳私募信贷基金行政管理\n\nHFM US SERVICES AWARDS 2020\n获胜者\n最佳中台服务行政管理人\n\nCTA INTELLIGENCE US Awards 2019\n获胜者\n最佳 CTA 行政管理人\n\nHFMWeek US Fund Services Awards 2018\n获胜者\n300 亿美元以下单一管理人最佳行政管理人\n\nHFMWeek US Fund Services Awards 2018\n获胜者\n小型管理人最佳行政管理人\n\n@preqin\n2017 服务于 CTA 的领先基金行政管理人\n\nAI 2016 HEDGE FUND AWARDS\n获胜者\n最值得信赖的对冲基金行政管理人\n\nAI 2016 HEDGE FUND AWARDS\n获胜者\n多投顾平台与综合体领导者\n\nHFM AWARDS 2016 US TECHNOLOGY\n获胜者\n最佳专户管理平台技术\n\nCTA INTELLIGENCE US SERVICES AWARDS 2016\n获胜者\n最具创新性基金行政管理人\n\nHFM AWARDS 2016\n高度赞扬\n对冲基金行政管理人报告\n\nCTA INTELLIGENCE US CTA SERVICES AWARDS 2016\n获胜者\n\nHFM AWARDS 2015\n高度赞扬\n300 亿美元以上最具创新性基金行政管理\n\n2014 INTERNATIONAL HEDGE FUND AWARDS\n年度美国基金行政管理人服务提供商\nNAV Consulting Inc.\n\n\n投资者门户网站。\n\n\n\n\n\n\n\n\n团队。\n\nHamilton Investment Management Ltd（汉密尔顿投资管理有限公司）的团队汇聚了基金管理、风险投资和加密领域的独特经验，以提供全面的服务和产品方案。\n\n\n基金经理简介：Kin Je。\n\nKin Je 拥有近 30 年的基金经理和投资银行家经验，目前管理着一只资产管理规模达 120 亿美元的全球投资基金。在此之前，Je 先生曾担任 Macquarie Banking Group（麦格理银行集团）大中华区股票资本市场主席达 10 年，负责管理其大中华区资本市场和自营投资业务。在任职麦格理之前，Je 先生曾在多家投资银行担任高级管理职务，包括担任 China Merchant Securities (Hong Kong) Limited（招商证券（香港）有限公司）董事总经理兼合资合伙人、Credit Agricole Indosuez（东方汇理银行，及其证券分支 Indosuez W.I. Carr Securities 的董事会成员）执行董事兼中国区主管、Dresdner Kleinwort Wasserstein（德累斯顿佳禾投资银行）董事，以及 NatWest Markets（国民威斯敏斯特市场）副总裁。\n\nJe 先生已成功完成 70 余起全球首次公开募股（IPO）、并购（M&A）和自营投资交易，总金额达 400 亿美元。Je 先生被《International Who's Who》（国际名人录）评为全球领先的投资银行专业人士，并因其对中美关系的贡献被授予美国华盛顿州荣誉公民称号。Je 先生是香港国际区块链与金融协会（一家推广区块链技术并倡导加密市场监管的非政府组织）的副主席。\n\nJe 先生毕业于 Manchester Business School（曼彻斯特商学院）及 University of Wales (U.K.)（英国威尔士大学），获工商管理硕士学位。Je 先生是 Association of Chartered Certified Accountants (U.K.)（英国特许公认会计师公会）及香港会计师公会的资深会员。他同时也是 Certified Financial Consultants (U.S.)（美国特许金融顾问）的会员。\n\n\n基金经理简介：David Fallon。\n\nDavid 是 Hamilton Investment Management Ltd 的投资组合经理。此前，他是 TradeLink Holdings LLC 的投资组合经理，该公司是由 Walt Weissman 于 1979 年创立的多元化另类投资及自营交易公司。在 TradeLink 任职之前，David 曾任 Vanguard Asset Management（先锋领航资产管理）的投资组合经理，以及 Mizuho Bank London（瑞穗银行伦敦分行）多元化交易组的投资组合经理。\n\n在 2010 年加入投资银行业及瑞穗银行之前，David 在 University College Dublin（都柏林大学学院）攻读应用数学和金融学。他拥有都柏林大学学院量化金融理学硕士学位（论文题目为：《基于遗传编程的自进化交易系统》）以及都柏林大学学院数学与计算机科学荣誉理学学士学位。神经网络与自然计算是他极为感兴趣的研究方向。自然计算（用于金融建模的仿生算法）为计算方法的未来发展带来了诸多机遇。各类仿生方法学，如神经网络、演化计算（特别是遗传算法和语法演化）、粒子群算法等，都为金融计算方法的未来发展展现了无限可能。\n\n在其交易生涯中，David 已将其中部分技术应用于开发自研的交易发现工具。\n\n\n基金经理简介：Lee Alfay。\n\nLee 在全亚洲拥有 16 年的金融从业经验，专注于电子交易。Lee 的职业生涯始于 Bank of America（美国银行）新加坡分行，担任外汇交易员，负责在即期外汇领域构建自动化自营交易策略。随后他加入了一家对冲基金，负责建立涵盖做市与套利逻辑的外汇策略组合。之后，Lee 加入了一家高频交易公司，在那里工作了 5 年，专门负责研究和交易 Delta One（一阶对冲）领域的一系列高频交易策略。\n\n此后，Lee 加入 Goldman Sachs（高盛）香港分行，在其 FICC（固定收益、外汇及大宗商品）部门工作了近四年，最初担任量化算法策略师，随后成为电子外汇交易员，负责管理亚洲时区的交易账目。Lee 还在日本的一家加密货币交易公司工作过，专注于加密资产组合的交易和风险管理。Lee 最近的经历是在一家多策略对冲基金工作，专注于交易 Delta One 产品。\n\n在进入投资银行业之前，Lee 毕业于 Queensland University of Technology（昆士兰科技大学），获得金融学荣誉学士学位。Lee 的本科学位是金融学商学学士，辅修经济学延伸专业。\n\n\n喜马拉雅数字资产独立投资组合公司基金。被动投资策略。\n基金条款\n投资者 合格投资者\n最低投资额 100,000 美元\n基金管理费 1.0%\n业绩报酬\n（受限于高水位线） 0%\n认购 每月\n赎回 每季度\n建议最低投资期限 3 年\n\n\n\n\n我们的合作伙伴。\n\n","key_entities":["Himalaya","Je","CIPA","Himalaya Exchange","RICO"],"ecf_references":[],"word_count":4947,"status":"published","published_at":"2025-04-07 00:00:00","created_at":"2025-04-07","updated_at":"2026-08-23 07:44:55"}