db X-trackers Managed Municipal Bond Fund announces plans to launch

By Toni Weeks

San Luis Obispo, Calif., March 6 - DBX ETF Trust announced in a 497 filing with the Securities and Exchange Commission its plans to launch a new municipal fund, the db X-trackers Managed Municipal Bond Fund.

The fund will seek to provide income exempt from regular federal income tax. Under normal circumstances, it will invest at least 80% of its net assets in securities issued by municipalities across the United States, including the Commonwealth of Puerto Rico and U.S. territories such as the U.S. Virgin Islands and Guam, whose income is free from regular federal income tax. The fund considers any investments in municipal securities that pay interest subject to the alternative minimum tax as part of the 80% figure. The fund may buy municipal securities of all maturities and normally invests at least 65% of total assets in municipal securities of the top credit quality. Up to 10% of total assets may be invested in high-yield debt securities.

Philip G. Condon, Ashton P. Goodfield, Blair Ridley and Michael J. Generazo will be the portfolio managers.

The ticker symbol is "AMUN." The fund will trade on the New York Stock Exchange Arca.

Operating expenses are expected to be 0.4%, consisting solely of a management fee.

New York-based DBX Advisors LLC, an indirect, wholly owned subsidiary of Deutsche Bank AG, will act as the investment adviser.

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