Deutsche Asset & Wealth Management has added the NYSE-listed MSCI Germany Hedged Equity Fund to its db X-trackers platform, effective May 31.

The exchange-traded fund is designed to provide investors with direct exposure to the German equity markets while mitigating exposure to fluctuations between the value of the US dollar and the euro, Deutsche Bank said.  

“US investors are looking for products with built-in protection against fluctuations between the dollar and non-US currencies that also provide pure exposure to equity markets. [This] is the first ETF focused on Germany that responds to this demand,” said Martin Kremenstein, Deutsche Asset & Wealth Management Americas’ head of passive asset management.

On May 31 the ETF will be available under the ticker DBGR, and its underlying index will be the MSCI Germany US Dollar Hedged Index.

Deutsche Asset & Wealth Management’s ETP platform was launched in 2006 and now has about $60 billion in assets under management. The US ETP platform has 53 ETPs with some $12 billion in AuM.