FRANKFURT, Germany (HedgeWorld.com)–The latest in a long series of hedge fund index-linked certificates issued by Commerzbank Securities was listed on the Stuttgart stock exchange last week.
The Comas Unlimited Turbo Bull Certificate is the latest addition to the Comas Alternative Investment Strategies offerings that totals roughly 200 million euros (US$224 million). The Turbo Bull gives leveraged exposure to the performance of a Commerzbank Securities-sponsored hedge fund index. That index, the Comas 25 Absolute Return Euro Index, is linked to the performance of two funds of funds run out of the firm’s New York office.
The leveraged exposure that Commerzbank provides on the certificates varies between three and four times the exposure to the index. According to officials, the Comas Absolute Return Strategy has performed well in the last 12 months, with extremely low volatility of 1.8% annualized standard deviation and little or no correlation to equity and bond markets.