Deutsche Asset & Wealth Management, the asset management division of Deutsche Bank, is to close 36 exchange-traded products (ETPs) following a review of its db X line-up. The products selected for closure, a mix of relatively niche exchange-traded funds (ETFs) and exchange-traded commodities (ETCs) listed across multiple European exchanges, have generated little investor appetite.
Manooj Mistry, head of exchange-traded products, EMEA, at Deutsche Asset & Wealth Management.
Manooj Mistry, head of ETPs, EMEA, at Deutsche Asset & Wealth Management, said: “The exchange-traded products market in Europe has reached a point of development where it makes sense for us to review our overall product line-up to bring it in line with current and expected future demand, placing us in a strong position to optimally serve users of our ETFs and ETCs. We have therefore undertaken a process of review to identify which areas we should focus on developing and which products are generating sustainably low levels of interest.”
The closures in no way signal a retreat for the Frankfurt-headquartered firm, the second largest ETF provider in Europe and the fifth largest globally, with more than €38 billion in assets under management.
While announcing the closures, the firm revealed that it plans to launch a new US dollar-hedged share class of its db x-trackers MSCI Japan Index UCITS ETF in the coming weeks. Meanwhile, new UCITS ETFs providing exposure to inflation-linked bonds, sovereign bonds as well as new equity market ETFs on various countries and regions are also planned.
Mistry added: “At this stage in the development of the European ETF market we aim to focus on gathering assets around our major benchmark index products, consolidating our position as arguably a leader in emerging markets ETFs, while continuing to launch in new areas where we see the potential for significant growth.”
ETF closures:
db x-trackers II Euro Interest Rates Volatility Short UCITS ETF
db x-trackers II Euro Interest Rates Volatility UCITSETF
db x-trackers II Swiss Franc Cash UCITS ETF
db x-trackers Stoxx Europe 600 Insurance Short Daily UCITS ETF
db x-trackers Stoxx Europe 600 Technology Short Daily UCITS ETF
db x-trackers Stoxx Europe 600 Telecommunications Short Daily UCITS ETF
db x-trackers Stoxx Europe 600 Utilities Short Daily UCITS ETF
db x-trackers Stoxx Europe Christian UCITSETF (DR) db x-trackers Currency Carry UCITS ETF
db x-trackers Currency Momentum UCITS ETF
db x-trackers Currency Valuation UCITS ETF
db x-trackers FTSE 100 Leveraged Daily UCITS ETF
db x-trackers FTSE 100 Super Short Daily UCITS ETF
db x-trackers II iTraxx HiVol Short Daily UCITSETF
db x-trackers Global Fund Supporters UCITS ETF (DR)
db x-trackers II iTraxx HiVol UCITS ETF
db x-trackers FTSE EPRA/NAREIT Eurozone Real Estate UCITS ETF
db x-trackers S&P US Carbon Efficient UCITS ETF
ETC Closures:
db Agriculture Booster CHF Hedged ETC
db Agriculture Booster GBP Hedged ETC
db Brent Crude Oil Booster CHF Hedged ETC
db Brent Crude Oil Booster GBP Hedged ETC
db Commodity Booster Euro Hedged ETC
db Commodity Momentum Euro Hedged ETC
db Commodity Risk Balanced Euro Hedged ETC
db Mean Reversion Euro Hedged ETC
db Monthly Leveraged Brent Crude Oil ETC (EUR)
db Monthly Leveraged Gold ETC (EUR)
db Monthly Leveraged Natural Gas ETC (EUR)
db Monthly Leveraged Silver ETC (EUR)
db Monthly Leveraged WTI Crude Oil ETC (EUR)
db Monthly Short Brent Crude Oil Euro Hedged ETC
db Monthly Short Gold Euro Hedged ETC
db Physical Gold SGD Hedged ETC
db Strom ETC
db Uranium ETC