Hedge Funds

Deutsche readies global equity fund

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Deutsche Bank Absolute Return Strategies Group has added a global long/short equity fund to its menu of single-manager hedge products. The fund, DB Axion, is being managed by New Jersey-based Axion Capital.

The global equity fund will incorporate both a bottom-up approach and macro thematic inputs to help manage the portfolio.

It will consist of 25-150 long and short positions. The fund's gross exposure will range between 100%-205%, while net exposure will range between -20% and 50%.

Axion Capital, which has been incubating this strategy with their own capital, saw returns of 14.7% through the end of October last year. It