Commerzbank AG (Xetra: CBK) and PlusFunds Group, Inc., the largest independent hedge fund managed account platform and global provider of innovative hedge fund index products, today announced that they have partnered to offer investors access to a broad selection of globally recognized individual hedge fund managers across a vast spectrum of hedge fund strategies through various investment vehicles that are compliant with German transparency and tax reporting standards.
Drawing from the large number of hedge fund managers on the PlusFunds managed account platform, Commerzbank plans to provide its clients with direct access to each of the single managers, or groups of managers, across the nine significant hedge fund strategies. Unlike traditional hedge fund investment options available to investors, the PlusFunds managed account platform provides a high degree of transparency including, daily independently-valued portfolio holdings, portfolio risk monitoring based on security level data, and most importantly, freedom from fee sharing arrangements with the underlying hedge fund managers and the related conflicts of interest that come along with such arrangements.
Michael Vogt, Director of Commerzbank commented, "We believe that the market will reward our strategy of providing access to the many high quality managers available on the PlusFunds platform, whilst addressing its requirements for pricing transparency, independent risk oversight, controls and freedom from conflict of interest. Our decisions to offer these hedge fund managers on a managed account platform as carefully run as PlusFunds' is, reaffirms our commitment to offering our clients the best investment options available in the global marketplace."
Christopher Sugrue, Chairman of PlusFunds Group, Inc., added, "Recent events in the hedge fund marketplace have only served to highlight the absolute need for investors to demand the highest quality, un-conflicted information as to what hedge fund managers are doing with the significant assets they are entrusted to manage. Commerzbank's steadfast dedication to only providing its investors with hedge fund investments built on transparency and control, will permit Commerzbank to provide its clients with highly attractive solutions for the alternative investments portion of their portfolios. We are delighted to expand our already successful relationship with Commerzbank."