db X-trackers is Deutsche Bank Asset Management's exchange-traded funds (ETF) division. ETFs are regulated, open-ended investment
funds that trade on stock exchanges just like any other listed, tradable security. They combine in a single, easy to use product the key
intraday trading and liquidity elements of stocks with the diversification offered by an index fund. Since launch in 2007 db X-trackers has
grown rapidly. It now has around GBP 46.56 bn in assets under management (as of September, 2016) across more than 300 products,
making db X-trackers the second largest ETF provider in Europe and amongst the top five globally.