18.09.2006 16:37:00
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American Stock Exchange Lists New PowerShares Deutsche Bank Enhanced Currency Index Fund
NEW YORK, Sept. 18 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) announced today that it has launched trading in shares of PowerShares DB G10 Currency Harvest Fund (Ticker: DBV), the first fund linked to an enhanced currency index to be listed on a U.S. stock exchange.
"This new product provides investors a convenient way to diversify their portfolios into an enhanced currency strategy that historically has had low correlation with equities and bonds. The Amex is proud to partner with Deutsche Bank and PowerShares to bring this innovative index fund to the marketplace," said Cliff Weber, Senior Vice President of the ETF Marketplace at the Amex.
DBV offers investors unprecedented transparency and access to an enhanced currency strategy. The new fund tracks the Deutsche Bank G10 Currency Future Harvest Index - Excess Return(TM) (DBCFHX). The Index, at any time, is comprised of six of the following G10 currencies: United States Dollars, Euros, Japanese Yen, Canadian Dollars, Swiss Francs, British Pounds, Australian Dollars, New Zealand Dollars, Norwegian Krone and Swedish Krona.
The Index reflects the return from investing long in futures of currencies with relatively high yielding interest rates and short in futures of currencies with relatively low yielding interest rates. This approach is designed to benefit from the trend that on average currencies that trade at a forward discount tend to perform better than those that trade at a forward premium. Chicago Mercantile Exchange listed futures based on the G10 currencies vs. United States Dollars are eligible for inclusion in the Index.
"We are delighted to partner with the Amex to bring DBV to the U.S. marketplace, providing institutional and retail clients unprecedented access to the currency markets," said Kevin Rich, Chief Executive Officer of DB Commodity Services LLC, the managing owner of DBV. "DBV will offer investors easy access to the returns of the currency markets by following a highly- developed index previously available only to very sophisticated investors."
DBV's shares will be listed on the Amex. The specialist for DBV is Susquehanna International Group, LLP.
About The American Stock Exchange
The American Stock Exchange(R) (Amex(R)) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 191 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks and ETFs.
http://www.amex.com/ About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With Euro 1,058 billion in assets and 65,435 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.
http://www.db.com/ About PowerShares Capital Management, LLC
PowerShares Capital Management LLC, provides institutional caliber asset management and market exposure through the replication of enhanced indexes. PowerShares delivers this sophisticated asset management in one of the more benefit rich investment vehicles available today, the exchange-traded fund. The firm is committed to theoretically sound portfolio construction and empirically verifiable investment management approaches. PowerShares' asset management philosophy and investment discipline are deeply rooted in the application of intuitive factor analysis and model implementation to enhance investment decisions.
http://www.powershares.com/
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