iMGP DBi Managed Futures ex-Commodities Fund UCITS ETF

Active managed futures ETF designed to capture return drivers from liquid trend-following and tactical futures positioning while excluding direct commodities exposure. The strategy uses long and short positions across equity indices, rates and currencies, with exposures set through DBi's quantitative Dynamic Beta Engine and implemented largely through futures, forwards and TRS. Returns are driven mainly by directional signals and relative positioning across global macro futures markets rather than by conventional long-only equity or bond beta. Its no-commodities design reduces one potential return sleeve, but leverage, model dependence and derivative counterparty risks remain meaningful.