Deutsche Asset & Wealth Management (DeAWM) has renamed the db X-trackers exchange-traded funds (ETFs) to Deutsche X-trackers ETFs. There will be no change to the ticker symbols or CUSIP numbers for these funds.
In addition to the db X-trackers ETFs, the change will affect all open-end funds, closed-end funds, and the Variable Insurance Portfolios (VIPs) currently named "DWS."
The expansion of the passive distribution team is part of DeAWM’s latest push to further expand its product offerings, increase outreach to investors, and continue to build its market share in the Americas.
Most recently, Dodd Kittsley joined the firm as the Head of Exchange-Traded Product Strategy in the Americas.
In addition to these strategic hires, DeAWM has recently launched several successful products to meet the needs of its clients, including the first ETF to provide broad access to the available Chinese equity market, db X-trackers Harvest MSCI All China Equity Fund.
DeAWM’s U.S. exchange-traded products ("ETP") platform has approximately $11 billion in assets under management as of 31 December 2013. The firm’s global ETP platform, launched in 2006, has grown to become the world’s fifth largest, with approximately $63 billion in assets under management as of 31 December 2013.