Deutsche Asset & Wealth Management (DeAWM) has entered into a partnership areeement with a Los Angeles- based hedge fund Ivory Investment Management to launch a new US equity fund.
Known as the DB Platinum Ivory Optimal fund, the new UCITS compliant fund will be managed by Curtis Macnguyen, founder and head portfolio manager at Ivory Investment Management.
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Hosted on Deutsche Bank’s Ucits platform, the fund will take long and short positions in the equity securities of publicly traded companies and will have a strong emphasis on low volatility.
Macnguyen will follow a bottom-up, fundamental value-based investment approach and seeks out investments which have low correlation to market indices.
The fund, which is a Ucits-compliant mirror of Ivory’s existing US equity hedge fund, will offer investors access to hedge fund strategies in a liquid and Ucits-compliant format.
Launched with $130 million in assets under management, the fund will have a sterling share class later this month and an OCF of 2%.
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By GlobalDataTarun Nagpal, head of DeAWM’s alternative and fund solutions group for Europe and Asia, said: "We are pleased to have attracted such strong investor demand and oversubscription for this new product prior to launch. The fund provides a compelling opportunity to gain exposure to US equity markets, a key current investment theme for many of our clients."
Founded in 1998, Ivory now manages over $2 billion in equity strategies and is based in Los Angeles.
