Deutsche Asset & Wealth Management has added a long-short fund from Los Angeles-based asset manager Ivory Investment Management to its Ucits platform.
The DB Platinum Ivory Optimal Fund has $130 million (€96 million) under management and invests mainly in public equities, taking long and short positions. It can also invest in debt and other liquid securities.
Ivory Investment Management, established in 1998, has more than $2 billion under management in equity strategies.
“We are pleased to have attracted such strong investor demand and oversubscription for this new product prior to launch,” says Tarun Nagpal, head of the alternative and fund solutions group for Europe and Asia at Deutsche Asset & Wealth Management.
“The fund provides a compelling opportunity to gain exposure to US equity markets, a key current investment theme for many of our clients.”
Ivory founder Curtis Macnguyen says the new Ucits fund will allow his firm to access a larger and more diverse investor base.
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