CTA Millburn announces move to daily dealing for UCITS-compliant fund
The DB Platinum IV dbX Millburn Multi-Markets Index Fund (the fund), a UCITS-compliant version of the Millburn Ridgefield Corporation (Millburn) Multi-Markets trading program, has improved liquidity terms and now offers daily dealing.
The fund, which recently marked its one-year anniversary, has attracted USD 108 million in assets since inception. It was originally launched with a weekly liquidity provision.
The fund provides investors with access to Millburn’s Multi-Markets trading program (“Multi-Markets”), offered through a European-based, regulated format and modified only as necessary to comply with UCITS constraints and requirements.
Multi-Markets, upon which the fund’s strategy is based, trades a diversified set of more than 120 markets and utilises a variety of systematic trend-following and non-traditional trading approaches. These approaches consider many different data sources and types, and cover a wide array of time-frames. Holding periods for individual models range from short-term (intra-day) to long-term (several weeks or months). Multi-Markets has a track record of more than seven years and has historically demonstrated low correlation to stock, bond and hedge fund indices.
Executive Vice President of Millburn, Barry A Goodman (pictured), says: “Millburn was one of the first major US-based CTA managers to launch a UCITS product, and we’ve been pleased with the opportunity to provide a new segment of investors with access to what we believe is a very strong and differentiated product – one that can be a solid choice as a first CTA investment or as a way to diversify current CTA portfolio holdings.
“Now, with the move to daily liquidity, we think the UCITS offering should be even more attractive to end-investors looking for ways to diversify their existing portfolio risk and deal with continuing volatility in global equity markets.”
Alex McKenna, director, head of db-X funds (the structured funds division of Deutsche Bank), says: “As one of the leading UCITS platforms for hedge fund products, we are pleased to introduce daily liquidity on the DB Platinum IV dbX Millburn Multi-Markets Index Fund. Increasing the frequency of liquidity is an example of how we are continuously working to support our platform partners and enhance our product offering for investors.”
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