Deutsche Brse says the actively managed Xavex SICAV CROCI US ETF started trading on Xetra today. The fund is issued by Xavex SICAV, a subsidiary of Deutsche Bank. This pushes the number of Xavex funds listed in the Xetra Active Funds segment to ten, and the total number of actively managed funds in this segment to 24.
Xavex SICAV CROCI US is an equity fund that mirrors the performance of the CROCI US index. This index is comprised of 40 US equities, and is rebalanced by Deutsche Bank on a monthly basis. The composition of the index is based on the so-called CROCI model – CROCI stands for ‘Cash Return on Capital Invested’ – a quantitative research model used by Deutsche Bank to value individual equities on the basis of an optimum price-to-earnings ratio. The Xavex SICAV CROCI US Fund is a no-load fund if purchased via the stock exchange; the annual management fee is 0.5 percent. Deutsche Bank is the designated sponsor of the Fund.
Xetra Funds, the entire range of Deutsche Brse funds, includes XTF, the segment for exchange-traded funds (ETFs), and Xetra Active Funds, the segment for actively-managed funds. Average monthly turnover in the Xetra Active Funds segment totals around EUR93 million.