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Db x-trackers lists first hedge fund ETF on LSE

Db x-trackers has listed a Ucits III compliant exchange traded fund based on hedge funds on the London Stock Exchange.

It follows the launch of the euro-hedged version on the Xetra Frankfurt in March 2009.

Db x-trackers is offering both a GBP sterling hedged and US dollar hedged versions which will be quoted and traded in their respective currencies on the LSE.

The db x-trackers hedge fund index ETF is linked to the db hedge fund index – a proprietary Deutsche Bank index that captures core hedge fund strategies, including equity hedge, market neutral, credit and convertible, systematic macro and event driven in a liquid and transparent format.

The index level of the index is independently calculated on a T + 3 business day DBIQ and calculated on a total return basis.

Each sub-index is linked to the performance of its constituent hedge funds sourced from Deutsche Bank’s risk-controlled hedge fund managed accounts platform.

db x-trackers UK head Manooj Mistry says: “For the first time in the UK, investors will have liquid, Ucits III access to the hedge fund industry. Market participants will also be able to base their financial products on the ETF, as Deutsche Bank will be the market maker and will offer two way prices on and off the stock exchange.”


Fresh out of shame

The principle of leaning against the cycle is easy to agree. For some reason, this sentence, taken from Alastair Darling’s statement to the House of Commons on reforming financial markets, worries me – and I don’t think it is just because it appears that the Chancellor is borrowing soundbites from fortune cookies or possibly cryptic crossword clues in The Times.

A fund in top form

A key issue for many clients remains boosting their income. For many, this has been at least partly satisfied by holding corporate bond funds, which, after a very poor 2008, have come back quite strongly.


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