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New UBS ETF provides currency-hedged access to the CMCI commodity index


A new exchange-listed commodity index fund from the UBS Global Asset Management is offering investors access to the CMCI commodity index.

The UBS ETFs plc – CMCI Composite SF UCITS ETF (GBP) A-acc, which is now trading on Deutsche Borse’s Xetra, enables investors to participate in the performance of 28 commodity contracts with up to seven different maturities while also benefiting from a hedge against fluctuations in the GBP/USD exchange rate. This covers the entire yield curve and minimises negative roll effects. 

The weighting of the five commodities sectors included in the CMCI – energy, precious and industrial metals, agriculture and livestock – is based two thirds on economic factors (rate of inflation as well as GDP of the US, EU and Japan) and one third on liquidity (open interest and market volume).

The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,063 exchange traded funds. This selection, together with an average monthly trading volume of around €11 billion, makes Xetra Europe’s leading trading venue for ETFs.

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