Global Fund eyes new investment stream in Deutsche Bank fund
This article was originally published in Clinica
Deutsche Bank and the Global Fund to Fight AIDS, Tuberculosis and Malaria have signed a letter of intent to set 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. The latter will receive a portion of the license and management revenues generated by the ETF – further details are to be announced in the last quarter of 2010. The agreement was signed today in London, by Robert Filipp, head of innovative finance at the Global Fund, and Thorsten Michalik, head of Deutsche Bank’s db x-trackers, a leading ETF with around €30bn ($38bn) in managed assets.