Deutsche Bank has launched three new funds of ETFs. The funds will select from long and short (inverse) ETFs, and across a range of asset classes, including equities, bonds, currencies, commodities, credit and cash.

The asset allocation will be determined by Deutsche Bank’s proprietary quantitative model, and weightings will be reviewed monthly.

Called DB Platinum ETF Selector, the three funds of funds will have volatility targets of 3, 6 and 8 percent, respectively. If the volatility of the underlying markets moves above a certain trigger point on three out of five working days, the portfolios will be liquidated and moved into cash until the next monthly rebalancing point.

The three Platinum ETF Selector funds will be available in institutional share classes, carrying fees of 30-40 basis points (over and above the fees on the underlying ETFs). Charges for other distribution channels range from 0.80-2.10% per annum.