Portugal Golden Visa Made Smarter with Digital Assets and Fixed Income

The Portugal Golden Income Fund: A Conservative Core, with an Asymmetric Edge

Portugal Golden Visa investors are increasingly seeking regulated, transparent, and diversified fund-based options that offer capital preservation, income, and long-term capital appreciation. Among the new generation of funds built for this purpose, the 3CC Portugal Golden Income Fund stands out for its clarity, liquidity, and carefully engineered asset allocation, anchored in Portuguese fixed income and enhanced by global and digital diversification.

A Balanced and Transparent Structure

The 3CC Portugal Golden Income Fund is an open-ended, CMVM-regulated Alternative Investment Fund that combines institutional-grade fixed income with strategic equity and alternative asset exposure. The investment thesis is simple, yet robust:

70%: Fixed-income securities issued by Portugal’s most reliable corporate borrowers - leading listed and private companies with strong balance sheets and investment-grade credit ratings. This allocation provides stability, predictable income, and eligibility for the Golden Visa.
15–20%: Global equities, via highly liquid index ETFs (S&P 500 and MSCI World ex-USA), offering exposure to the world’s most innovative and resilient companies, including U.S. tech and European industrials.
10–15%: Alternative assets - specifically, Bitcoin and Gold ETFs - intended to serve as portfolio shock absorbers, diversifiers, and potential sources of asymmetric returns.

Why Include Bitcoin in a Conservative Portfolio?

Many investors still associate Bitcoin with high volatility and speculative behavior. However, leading asset managers - including BlackRock, Fidelity, and Franklin Templeton - have publicly stated that Bitcoin may have a legitimate role in long-term, risk-managed portfolios:

In a 2023 investment outlook, BlackRock described Bitcoin as “digital gold” and argued that “a small allocation may improve a portfolio’s Sharpe ratio.” Their iShares Bitcoin Trust (IBIT) became one of the fastest-growing ETFs in history.
In its 2024 investment insight titled Bitcoin: A Unique and Diversifying Asset, BlackRock outlines that “Bitcoin has properties of a store of value and could enhance portfolio efficiency through improved risk-adjusted returns.” Their research further notes that “Bitcoin exhibits low correlations to traditional asset classes and unique demand-supply dynamics, making it a potential long-term strategic asset.”
Fidelity Digital Assets' research shows that portfolios with 1–5% allocation to Bitcoin historically achieved higher risk-adjusted returns than traditional 60/40 portfolios.
Franklin Templeton’s “Digital Assets Primer” suggests Bitcoin’s “scarcity, decentralization, and low correlation to traditional assets” make it a unique hedge against systemic shocks and fiat currency debasement.

In a portfolio like the Portugal Golden Income Fund, where 70% is allocated to high-quality fixed income, a 10–15% position in Bitcoin and gold serves not as speculation - but as strategic diversification. The risk is ring-fenced, but the upside potential remains significant, especially in a macro environment of monetary instability and rising sovereign debt levels.

The Asymmetry of Risk and Return

Unlike real estate funds, which are often illiquid and fully exposed to local market cycles, the 3CC Portugal Golden Income Fund is liquid (daily NAV), multi-asset, and globally diversified. Its capital preservation mandate is designed for moderate-risk investors seeking long-term value - not just a passport.
What makes this fund particularly attractive is the asymmetry of its potential payoff. The downside is contained by the 70% anchor in investment-grade Portuguese corporate debt. The upside is magnified by equity and digital asset exposure. This allows the fund to target equity-like returns, with roughly half the volatility of a traditional 100% equity portfolio.

Early Performance & Benchmarking

While the fund is still in its early stages, its asset allocation is modeled on global best practices in multi-asset investing. The performance is being benchmarked against top-tier peers in Portugal and internationally - including Pictet’s Asset Allocation Global Opportunities Fund, widely regarded as a gold standard in diversified, risk-balanced strategies.

Final Thoughts

For investors seeking Golden Visa eligibility, capital preservation, daily liquidity, and a transparent, institutionally managed portfolio, the 3CC Portugal Golden Income Fund offers a compelling alternative to illiquid real estate or narrow-sector funds.
This is a conservative fund with a modern twist, anchored in stability, but open to the future.

To explore 3 Comma Capital investment solutions or learn more about our Golden Visa elligible fund, contact our Investor Relations Team.