Deka, the asset management division of German Sparkassen, has announced the launch of a new global multi-asset fund which will invest in bonds and equities across Europe, the US and emerging markets.
The new Deka Global Balance fund aims to compement the groups’ existing Deka Euroland Balance and Deka Deutschland Balance funds. It is able to invest in securities issued in different currencies and up to 20% of its portfolio in USD denominated securities.
Selection of individual holdings takes place using a quantitative process, with the portfolio construction being adjusted on a weekly basis. The funds’ maximum exposure to equities is currently set at 35%.
The issuing premium is currently set at 3% and management fees at 0.85% per annum.