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Friday, November 20, 2009
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Deutsche and Powershares to debut funds
Deutsche Bank AG and PowerShares Capital Management LLC today announced that the PowerShares DB US Dollar Bullish Fund and the PowerShares DB US Dollar Bearish Fund will list on the American Stock Exchange starting Feb. 20.
The funds offers investors access to the Deutsche Bank Long US Dollar Index and the Deutsche Bank Short US Dollar Index, respectively. The Indexes, managed by DB Commodity Services LLC in New York, are rules-based indexes composed of long (in the case of the Dollar Bullish Fund) or short (in the case of the Dollar Bearish Fund) USDX futures contracts. The USDX futures contract is designed to replicate the performance of being long or short the US Dollar against the following currencies: Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. Deutsche Bank AG is based in Frankfurt, Germany and PowerShares Capital Management LLC is in Wheaton, Ill.
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