Deutsche Bank is to launch a commodity index tracking fund to be listed on the US stock market. The bank said the fund will be the first com...

Deutsche Bank is to launch a commodity index tracking fund to be listed on the US stock market. The bank said the fund will be the first commodity-index-linked fund to be listed in the US. The fund will be offered through brokers at $25 per share during the initial offering period, which is expected to close at the end of January, according to a statement from the bank. DBC returns are expected to track the performance of the DBLCI. The DBLCI is a rules-based index, comprised of crude oil, heating oil, gold, aluminum, corn and wheat. The DBLCI is calculated based on six liquid futures contracts on the commodities comprising the index. The fund also will generate interest on cash invested in the tracking fund. "DBC is designed for investors seeking portfolio diversification and exposure to global commodity returns, which have one of the lowest correlations to US equities and bonds," said Mark Ritter, global head of commodities at Deutsche Bank, in a statement. He added: “This platform will provide investors with systematic exposure to global commodities without the complication and difficulty of investing directly in futures contracts or in the commodities themselves.”