23/03/2011 Author: Tony Griffiths

Deutsche Bank platform to offer weekly liquidity

Deutsche Bank is to offer weekly liquidity to investors in its X-markets managed accounts platform from the start of next month, HFMWeek can exclusively reveal.

The first funds on the platform – one of the biggest in the industry with more than $6bn in AuM – will change on 1 April 2010 to be followed by others in the coming months, predominantly in the equity long/short, equity market neutral and CTA strategies.

The subscription and redemption terms for direct investors will be amended from monthly liquidity to weekly liquidity on each Tuesday of the month, Martin Fothergill, Deutsche Bank’s global head of managed accounts explained. Notice periods will be four business days for redemptions. The liquidity terms for existing investors will automatically be moved to the new liquidity schedule.

“The Deutsche Bank X-markets hedge fund platform has undergone a number of significant enhancements in recent months, including the addition of a number of external prime brokers, the ability to accept US onshore investors and the continued onboarding of high-quality managers,” said Fothergill.

“We are now pleased to announce that our clients will be able to access a number of the platform funds with weekly liquidity, offering increased flexibility for asset allocation,” he continued.

X-markets is one of two managed account platforms at Deutsche Bank, along with the more specialised db select offering. In February, HFMWeek revealed that combined assets at the two platforms had grown 20% since March 2010, up to $9.6bn from $8bn.