Hedge Funds

DB helps more Global Masters team to spin out


Up to three of the managers of the $1.6 billion DB Global Master multi-strategy fund could spin out as a result of a far-reaching move by DB Advisors, the proprietary trading arm of Deutsche Bank, to stop managing prop capital alongside client money.

All managers of the fund are being given a straight choice: start your own business with Deutsche Bank help or return to the job of running proprietary money only.

Two or three of the managers are likely to follow in the footsteps of Dan Gold and Mark Donegan, who recently left the bank to form QVT and