31 August 2010
London/Geneva (31 August, 2010) - Deutsche Bank AG and the Global Fund to Fight AIDS, Tuberculosis and Malaria signed a letter of intent to collaborate on setting up an exchange traded fund (ETF) to be listed and distributed in Europe and Asia.
The ETF will track a global blue-chip index, developed by and licensed from Dow Jones Indexes and the Global Fund.
A portion of the license and management fees generated by the ETF will support the Global Fund to finance programs to fight AIDS, tuberculosis and malaria in more than 140 countries.
“We are pleased to collaborate with the Global Fund to launch this product,” said Thorsten Michalik, head of Deutsche Bank’s db x-trackers. “db x-trackers is one of the top three ETF providers in Europe and we are proud to be able to use this expertise to support an organization such as the Global Fund, who works towards the practical humanitarian goal of fighting and eliminating diseases such as AIDS, tuberculosis and malaria.”
The agreement was signed in London by Thorsten Michalik and Robert Filipp, Head of Innovative Finance at the Global Fund.
“I am confident that the collaboration with the Deutsche Bank will be an example of positive financial innovation that benefits investors and organizations such as the Global Fund which work for humanitarian purposes,” said Prof. Michel Kazatchkine, Executive Director of the Global Fund. “Together with Deutsche Bank we are committed to demonstrating that it is feasible to do well and to do good at the same time.” he said.
Full details of the ETF offering are expected to be announced during the fourth quarter of 2010.
Note: This press release does not constitute and should not be construed as an offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities.
About Exchange Traded Funds (ETFs)
An Exchange Traded Fund (ETF) is an open-ended investment fund that tracks a specific index and is listed on a Stock Exchange. ETFs allow investors to gain exposure to a wide range of asset classes, regions and investment themes, through a collective investment scheme which is traded like a listed security.. ETFs are one of the fastest growing products in the investment market. Globally there are now over 2,100 ETFs available with over US$ 1 trillion assets under management (source Deutsche Bank ETF Research).
About db x-trackers ETF platform
db x-trackers are Exchange Traded Funds (“ETFs”) – an index tracking solution of Deutsche Bank AG. db x-trackers was launched in January 2007 and is now one of the leading ETF providers in Europe and Asia with over 150 products and EUR 30 billion assets under management. db x-trackers ETFs are listed on eight different exchanges across Europe and Asia (Borsa Italiana, Frankfurt Xetra, Paris Euronext, London Stock Exchange, Zurich SIX Swiss Exchange, NasdaqOMX Stockholm, Singapore Exchange and Hong Kong Stock Exchange). The ETFs are based on various asset classes including equity, fixed income, currencies and commodities. Investors are able to invest in a very transparent, flexible and efficient way. db x-trackers ETFs are domiciled in Luxembourg and comply with the UCITS III regulations.