Deutsche Asset & Wealth Management (Deutsche AWM) said its US exchange traded fund platform has surpassed $20bn in assets under management (AUM), propelled by a $12bn increase since 1 January this year in its currency-hedged ETF, the Deutsche X-trackers MSCI EAFE Hedged Equity Fund (DBEF).
Deutsche AWM's global x-tracker platform, launched in 2006, is the world's fifth largest ETF provider with $76.9bn in AuM. Within the US, the platform offers 24 ETFs, including 17 currency-hedged products.
Fiona Bassett, head of passive for Deutsche AWM in the Americas, said this year's "outsized demand" for currency-hedged ETFs has been driven by "massive divergence in central bank policies across the globe." Americas head Jerry Miller noted that the US platform's AuM totalled $500m just two years ago.
Deutsche AWM had $194.7bn of general account insurance assets under management at 31 December 2014.
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