Deutsche Asset Management launched two alternative investment funds.
The Long/Short Market Neutral U.S. Equity Fund and the 120/20 Long/Short U.S. Large-Cap Fund are available to institutional investors globally, the New York unit of Deutsche Bank AG said Friday.
The market neutral fund is designed to maintain roughly equal dollar amounts invested in long and short positions and seeks to eliminate market exposure, Deutsche Asset Management said. It seeks to add returns of 8% to 10% before expenses above the Citigroup three-month U.S. Treasury Bill Index.
The 120/20 long/short fund seek to minimize size, industry, and style risk against the benchmark Russell 1,000 Index, the unit said. The fund also seeks to add 4% to 6% excess return on top of the Russell 1,000 before expenses.
Deutsche Asset Management started offering the funds last week.
