Tuesday, 1 December 2015
Last updated 5 hours ago
Jan 26 2011 | 2:40am ET
Deutsche Bank has launched its second exchange-traded fund of hedge funds, two years after offering its first.
The firm no doubt hopes that the db x-trackers db Strategies Hedge Fund Index ETF can replicate the success of its predecessor. The db Hedge Fund Index ETF has garnered US$1.5 billion in assets since its debut in January 2009.
The new fund invests exclusively in equity long/short and equity-market neutral hedge funds; currently, it has 13 underlying managers and invests in 17 hedge funds. Among the funds in its roster are BlackRock, GLG Partners and Marshall Wace Asset Management.
The original Deutsche Bank ETF invests across six hedge fund strategies.
Both vehicles are UCITS III-compliant and are unusual for hedge fund ETFs in that they actually invest in hedge funds, rather than seeking to track their performance.
The db Strategies ETF charges a total of 155 basis points, including a 15 bps index fee and 50 bps risk monitoring fees. Those fees do not include the fees charged by the underlying hedge funds.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…