Bankers Trust Corp. has launched an enhanced index mutual fund that tracks the Standard & Poor's 500 index and uses a merger arbitrage strategy.
The Quantitative Equity Fund, which was opened Monday, uses computer models to pick stocks of companies involved in mergers, acquisitions, and other corporate reorganizations, Bankers Trust said.
The no-load fund will be available through financial advisers and planners for a fee, a spokeswoman said. It requires a $10,000 investment. Annual fees and expenses total 0.90% of fund assets.
The BT Mutual Funds family has about 30 funds and $27 billion of assets under management. Bankers Trust, a $133 billion-asset banking company, has more than $190 billion of assets under management.