JP Morgan launches Ucits funds exposure to commodities
JP Morgan has launched a Ucits III compliant fund offering exposure to the Energy Light version of its proprietary Commodity Curve Index (CCI.) The CCI Energy Light Fund is available to investors in Austria, France, Germany, Italy and the Netherlands, with plans to roll out across other regions at a later date.
The CCI, which was originally launched in November 2007, uses baskets of differing maturity futures for 35 commodities to expose investors to the entire futures curve, with component weighting calculated by open interest. The Energy Light Total Return version of the CCI caps the energy sector weighting at 33%. This tailors the index to the Ucits (Undertakings for collective investments in transferable securities) III EU directive requirements, which stipulate that fund underlyings must be
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