01/02/2011 Author: Tony Griffiths

Traxis launches first Ucits

Traxis Partners, the US hedge fund manager run by industry stalwart Barton Biggs, has today launched its first Ucits fund, DB Platinum Traxis Global Equity Macro, as first reported by HFMWeek back in July. 

The fund, which will be managed in a similar way to the Traxis Global Equity Macro fund, has debuted on Deutsche Bank’s DB Platinum platform, the investment bank announced in today’s statement.. The Traxis Ucits fund is the sixth Ucits-complaint hedge fund to join the Platinum platform.  

“We believe that global macro equity-oriented Ucits funds are one of the significant waves of the future,” said Biggs, founding partner of Traxis Partners, which currently manages more than $1bn in AuM. “I look forward to working with Deutsche Bank, one of the leading global banks, on this new venture.”    

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.” 

In December, Deutsche Bank Platinum announced that it had added an Asia-focused Ucits fund from London-based hedge fund firm Sloane Robinson. 

Deutsche is expected to announce the arrival of the first Ucits fund from John Paulson’s Paulson & Co. in the next few weeks.