Deutsche Bank and Traxis launch UCITS fund 03 February 2011London Reporter: Justin Lawson
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The UCITS fund, called DB Platinum Traxis Global Equity Macro (‘the Fund’), was launched on Deutsche Bank’s DB Platinum platform on 1 February 2011. The fund 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, modified where needed to comply with UCITS regulations. The fund’s investment process is discretionary in nature and leverages the global insight and experience Barton Biggs has developed over 40 years of investment management.
Traxis was formed in June 2003 by Barton Biggs, Madhav Dhar and Cyril Moullé-Berteaux. Traxis currently manages more than USD $1bn. Prior to forming Traxis, Mr. Biggs was a managing director of Morgan Stanley, and he was the founder and former chairman and chief investment officer of Morgan Stanley Investment Management. He was director of Global Research and a member of the executive committee and the Board of Directors of the firm. From 1995 until 2002 he was the number one ranked global strategist by the Institutional Investor Magazine survey.
Commenting on the launch, Deutsche Bank’s European Head of Fund Derivatives, Tarun Nagpal, said: “We are delighted to be working with Barton Biggs and his team on their entry into UCITS. The Traxis UCITS fund fills 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 world’s leading hedge fund managers in UCITS.”
Barton Biggs, founding partner of Traxis Partners commented, “We believe that global macro equity-oriented UCITS funds are one of the significant waves of the future. I look forward to working with Deutsche Bank, one of the leading global banks, on this new venture. Together, I believe we can offer clients a unique perspective.”
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