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Traxis launches newcits on Deutsche Bank’s DB Platinum platform

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Deutsche Bank announced this week the successful onboarding of a Traxis Partners newcits entitled the DB Platinum Trax

Deutsche Bank announced this week the successful onboarding of a Traxis Partners newcits entitled the DB Platinum Traxis Global Equity Macro Fund. This is just the latest in a list of high profile managers to join the bank’s Platinum platform, which supports UCITS-compliant funds, with York Capital and Paulson & Co recent examples. The newcits will be managed in similar fashion to the offshore global hedge fund strategy run by Barton Biggs although some concessions will be necessary to comply with UCITS III regulations. Investors to the fund will gain exposure to the global discretionary investment process that Biggs, with over 40 years’ investment management, draws upon when managing the Traxis Global Equity Macro fund. Biggs founded the New York investment advisory firm in 2003 along with Madhav Dhar and Cyril Moullé-Berteaux. It currently manages assets in excess of USD1billion. Biggs said that he believed global macro equity-oriented UCITS funds were one of the “significant waves of the future”. “I look forward to working with Deutsche Bank on this new venture,” said Biggs. Tarun Nagpal, DB’s European Head of Fund Derivatives, said the Traxis newcits filled an important gap in the UCITS space for discretionary equity macro hedge funds. “We continue to remain true to our commitment to provide institutional and financially sophisticated investors with access to some of the worlds leading hedge fund managers in UCITS,” commented Nagpal.

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