Deutsche Bank joins with SCM for ETF offering
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Deutsche Bank’s exchange-traded fund (ETF) platform db X-trackers and investment manager SCM Private have partnered to launch a fund of ETFs.
The db X-trackers SCM Multi Asset ETF provides exposure to a portfolio of ETFs and exchange-traded commodities (ETCs), with the goal of using asset allocation to accumulate returns over inflation.
Allocation will be determined on at least a monthly basis by SCM Private and will be made based on a total return strategy with the majority of Deutsche Bank’s ETFs and ETCs available for inclusion.
The ETF has an ‘all-in’ fee, which does not include portfolio rebalancing costs, of 0.89% per annum. This is inclusive of the management fee of the underlying ETFs and ETCs invested in.
Manooj Mistry, UK head of db X-trackers, says: “Active asset allocation via passive instruments is set to be a growing trend. At a more fundamental level, it will appeal to investors looking for a straightforward and cost-effective way to add an active element to their portfolio.”
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