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Deutsche Bank launches first ETFs on short iTraxx

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Deutsche Bank has announced plans to launch its first three short iTraxx exchange-trade funds as part of its db x-trackers ETF platform.

Deutsche Bank has announced plans to launch its first three short iTraxx exchange-trade funds as part of its db x-trackers ETF platform. The three new ETFs are based on new indices developed by the International Index Company, the iTraxx Europe 5-year Short Total Return Index, iTraxx Europe HiVol 5-year Short Total Return Index and iTraxx Europe Crossover 5-year Short Total Return Index.

Deutsche says the launch of the three Ucits III funds will allow European clients to buy credit protection in an ETF format for the first time. It expects that the iTraxx ETFs will be popular with corporates, insurance companies and asset managers looking for protection from market turbulence in a non-derivative format. The ETFs will be available for purchase over the counter, and will be listed on Milan’s Borsa Italiana by the end of November.

‘These new ETFs confirm Deutsche Bank’s ability to innovate,’ says head of fixed-income ETF structuring Marco Montanari. ‘We are reacting quickly to developing trends to bring new products to market as quickly and efficiently as possible. These ETFs offer clients exposure to new exciting indices.’

Deutsche Bank launched its db x-trackers platform this year and has already has more than USD4bn assets under management in more than 50 equity and fixed-income ETFs, including the Eonea ETF, the most successful European ETF this year.

ETFs were first introduced in the USA in 1993 and in Europe in 2000. At the end of September there were 1,095 ETFs available globally with EUR552bn in assets, including 396 ETFs with more than EUR87bn in assets listed in Europe.

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