Launches & Closures

German-based investment bank launches its first absolute return UCITS fund


Hamburg-based investment bank Varengold has launched its first UCITS fund.

The fund, Varengold Alternative Alpha, participates in the performance of a directive compliant managed futures index using a swap.

Lukas Diehl from Varengold

The index components generate their profits on more than 200 financial markets, with both rising and falling trends, according to Lukas Diehl, senior vice-president Varengold.

The index universe can include up to five managed futures sub-strategies: short-term trading, trend following, global macro, discretionary trading and FX trading.

Diehl says: “We have created an index based on different managed futures strategies. – all of them provide