The platform will represent 35 different currency programs, that by Citi estimates, accounts for more than 50% of the assets under management in currency funds. Citi is partnering with BarclayHedge, Parker Global Strategies, Absolute Return Strategies and Quaesta Capital in structuring the offering. BarclayHedge’s BTOP FX Index, and Parker’s global currency manager index, will be investable for the first time, while ARS will provide diversified currency alpha by adopting different strategies, and Quaesta will offer a more thematic approach via its Global Growth, Momentum and Market Neutral multi manager index. CitiFX Access indices will be published on Bloomberg (page CEXT ) and on CitiVelocity.
The platform will compete with Deutsche’s dbSelect platform which allows access to liquid hedge fund strategies, such as managed futures, CTAs, currency, global macro, volatility arbitrage and commodity strategies, with more than 75 pure FX strategies available, and more than $5 billion in assets under management.