Deutsche Bank teams up with German hedge manager for Ucits platform
Deutsche Bank has expanded its dbSelect Ucits fund platform further, adding a fund run by German alternatives manager Fortinbras Asset Management.
The DB Platinum IV Fortinbras PRISM Index will be run by the Eschborn-based manager.
The systematic fund from the €440m firm uses an algorithm to latch onto trends in fixed income, interest rate, foreign exchange and commodity markets.
The strategy has been used on various fixed income funds for over 20 years.
Will Hutchings, European head of dbSelect sales at Deutsche Bank, said: “Demand from investors for access to hedge fund strategies within a transparent, liquid and efficient structure continues to grow.”
Chris Kennedy, Co-Founder and Managing Director of Fortinbras, added the venture with Deutsche Bank would encompass not only European distribution, but also in Asia, where the Ucits brand is also strong.
“We are seeing a notable growth in appetite from all geographies as investors globally become increasingly comfortable with the Ucits format. Partnering with Deutsche Bank for this Ucits fund allows us to increase our breadth of offering to an investor base that is looking for absolute returns with high liquidity and low cost of delivery.”
dbSelect offers more than 150 hedge fund programs offering daily liquidity. The platform has raised over $5bn for managers on it.