Deutsche Bank-Paulson pair up for UCITS fund
Deutsche Bank and Paulson have partnered to launch a new UCITS hedge fund, following increased investor demand for a compliant onshore product.
Investor demand has reportedly driven the decision of Deutsche Bank and global investment adviser Paulson to launch the new product, the DB Platinum IV Paulson Global Fund.
During 2010, UCITS compliant hedge funds have seen a 70% increase in inflows on the previous year, recent research by Strategic Insight showed.
The new fund aims to replicate the strategy of Paulson’s flagship Advantage fund in a UCITS compliant model.
It is available on Deutsche Bank’s Platinum platform. Currencies include EUR, GBP, USD and JPY.
The fund seeks to capitalise on mergers, distressed and special situations on long and/or short sides through debt and equity.
Anticipated returns are likely to be uncorrelated to broad financial markets, the providers said.
Paulson hopes to diversify its investor base with the new fund, said founder John Paulson.
Currently, it manages approx $33.6bn for institutional and high net-worth investors, while Deutsche Bank holds a significant private clients base.