Deutsche Bank and the investment advisory firm Traxis Partners have launched a UCITS-compliant version of a global equity macro fund, aiming to offer access to hedge fund managers in the UCITS space.

“The Traxis UCITS fund fills an important gap in the UCITS space for discretionary equity macro hedge funds,” said Tarun Nagpal, Deutsche Bank’s European head of fund derivatives.

The UCITS fund, called DB Platinum Traxis Global Equity Macro, was launched yesterday on Deutsche's DB Platinum platform.

It will be managed by Traxis in accordance with the strategy managed by Barton Biggs, in a similar way to the Traxis Global Equity Macro fund, but modified where needed to comply with UCITS regulations, Deutsche Bank said in a statement.

Traxis was formed in June 2003 by Biggs, Madhav Dhar and Cyril Moullé-Berteaux and currently manages $1 billion in assets.