Key Takeaways
- • iM Global Partner (iMGP) and DBi launched the iMGP DBi Managed Futures Ex-Commodities Fund R USD UCITS ETF (Bloomberg ticker MFA8:FP), the first managed futures UCITS ETF classified as Article 8 under the EU's Sustainable Finance Disclosure Regulation (SFDR), now listed on Euronext Paris with upcoming availability on the London Stock Exchange and additional European venues.
- • The fund excludes direct commodity exposure—a differentiation from conventional managed futures strategies—and has already secured institutional backing, with a Nordic pension fund among early adopters, signaling strong institutional demand for ESG-aligned alternative strategies.
- • This launch represents the second managed futures UCITS ETF introduced by iMGP and DBi within one month, following the iMGP DBi Managed Futures Fund R USD ETF (DBMF:FP) listed on March 14, 2025, underscoring the firms' expansion of liquid alternative investment access in Europe.
- • DBi manages USD 2.3 billion in managed futures assets as of end-February 2025 and operates what the firm claims is the world's largest managed futures ETF in the United States, demonstrating established expertise in the strategy space.
- • The strategy, which seeks portfolio diversification across equities, fixed income, and currencies while maintaining systematic, trend-following approaches, represents growing institutional appetite for alternatives classified under Article 8 (environmental and social characteristics) frameworks.
Summary
iM Global Partner (iMGP) and DBi have entered the European UCITS ETF market with a strategically differentiated product: the iMGP DBi Managed Futures Ex-Commodities Fund R USD UCITS ETF (MFA8:FP), marking the first managed futures UCITS ETF to achieve Article 8 classification under the EU's SFDR regulatory framework. The fund's exclusion of direct commodity exposure distinguishes it from traditional managed futures vehicles, which typically maintain exposure across equities, fixed income, currencies, and commodity markets. This design choice appears to address both regulatory sustainability requirements and investor demand for refined exposure to the managed futures strategy.
The launch signals accelerating product development velocity from the iMGP-DBi partnership. The new Article 8-classified fund follows the iMGP DBi Managed Futures Fund R USD ETF (DBMF:FP), which listed on the Paris exchange on March 14, 2025—just weeks prior. This dual launch cadence underscores the firms' commitment to scaling liquid alternative investment access across European institutional investors. The ex-commodities vehicle has already attracted institutional capital, with a Nordic pension fund among its early adopters, indicating strong institutional receptiveness to ESG-aligned managed futures products in the region.
DBi brings material scale and expertise to the partnership. As of end-February 2025, DBi managed USD 2.3 billion in dedicated managed futures assets and operates what it characterizes as the world's largest managed futures ETF in the United States. The strategy, originally launched in 2016 and introduced to European markets in 2023, employs systematic, trend-following methodologies designed to provide portfolio diversification benefits across multiple asset classes and market regimes.
Philippe Couvrecelle, Founder and CEO of iMGP, characterized the launch as "a major innovation" reflecting the firms' commitment to product development. The fund is currently listed on Euronext Paris and will expand to the London Stock Exchange and additional European markets, positioning the product for broad institutional distribution across the region. The Article 8 classification reflects growing regulatory prioritization of sustainability-linked investment vehicles in Europe, while the commodity exclusion represents a deliberate product refinement addressing both institutional preferences and ESG screening criteria.
The launch signals accelerating product development velocity from the iMGP-DBi partnership. The new Article 8-classified fund follows the iMGP DBi Managed Futures Fund R USD ETF (DBMF:FP), which listed on the Paris exchange on March 14, 2025—just weeks prior. This dual launch cadence underscores the firms' commitment to scaling liquid alternative investment access across European institutional investors. The ex-commodities vehicle has already attracted institutional capital, with a Nordic pension fund among its early adopters, indicating strong institutional receptiveness to ESG-aligned managed futures products in the region.
DBi brings material scale and expertise to the partnership. As of end-February 2025, DBi managed USD 2.3 billion in dedicated managed futures assets and operates what it characterizes as the world's largest managed futures ETF in the United States. The strategy, originally launched in 2016 and introduced to European markets in 2023, employs systematic, trend-following methodologies designed to provide portfolio diversification benefits across multiple asset classes and market regimes.
Philippe Couvrecelle, Founder and CEO of iMGP, characterized the launch as "a major innovation" reflecting the firms' commitment to product development. The fund is currently listed on Euronext Paris and will expand to the London Stock Exchange and additional European markets, positioning the product for broad institutional distribution across the region. The Article 8 classification reflects growing regulatory prioritization of sustainability-linked investment vehicles in Europe, while the commodity exclusion represents a deliberate product refinement addressing both institutional preferences and ESG screening criteria.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.