DWS Hedge L/S: pioneering hedge funds in Germany
DWS Investments was one of the first firms to launch a hedge fund in the new regulatory environment in Germany and is now hoping to attract institutional investors
As the leading mutual fund manager in Germany, it was hardly surprising when DWS Investments moved quickly into the hedge fund space once the German Investment Act was passed at the beginning of 2004. The Frankfurt-based firm immediately took advantage of the liberalised regulatory environment by starting a paper portfolio for its first single-manager onshore fund for German investors. After generating an impressive return of over 9% net of fees in the first half of 2004, it went live with the launch of the DWS Hedge L/S Currency Fund on 1 July with €5 million of in-house seed...