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Deutsche Bank Adds Five ETFs To db-X Range In New York
Nick Parmee
24 June 2011
Deutsche Bank has rebranded five exchange-traded funds to join its recently-launched db-X suite of products, doubling the number of ETFs offered under its db-X umbrella in New York. The five funds, previously known as the TDX Independence Funds, are now known as the db-X Target Date Funds. The funds form a suite of ETFs that seek to track the Zacks Lifecycle indices and are designed to provide investors with a single investment to diversify across domestic equities, international equities and fixed income, based on a fixed investment horizon. Each db-X Target Date Fund’s name will continue to correspond to a specified target year. Collectively, the db-X Target Date Funds had $134 million in assets at 21 June 2011. The bank’s db-X Group currently has $67 billion in assets under management in the US, Europe and Asia and offers more than 200 products. In the US, Deutsche Bank currently offers 49 ETPs with approximately $14.5 billion under management. “Broadening the base of funds on our db-X platform reinforces Deutsche Bank‘s commitment to expanding our product offerings and increasing the variety of investments that we provide to the US market,” said Martin Kremenstein, chief investment officer of Deutsche Bank’s db-X business.