Deutsche Bank has launched a Ucits III compliant currency fund, which it says will provide institutional investors with access to broad FX market returns. The Undertakings for Collective Investment in Transferable Securities – shortened to Ucits – compliance effectively means that the fund, called the DB Platinum Currency Returns Plus Fund, can be marketed in all 30 countries of the European Economic Area, though Deutsche says it will be initially available in Luxembourg, Germany and UK. The fund offers exposure to Deutsche’s Currency Returns + Index (DBCR+) and is available in EUR, USD and GBP.
“Increasingly we see investors looking for convenient ways to access foreign exchange markets. Currency markets are increasingly being appreciated and accepted as a significant source of alpha that is portable, uncorrelated and sustainable,” says Zar Amrolia, global head of foreign exchange at Deutsche Bank. “The DBCR+ Index is fast becoming a benchmark for currency investing and offering it in a Ucits III format gives currency investors increased options for accessing these returns.”