Deutsche Asset Management UK (DeAM) announced earlier this week the launch of its first hedge fund, underlining the growing trend towards hedge funds as an alternative investment category. The new fund, dubbed "Equilibria", has been created in response to growing interest from European investors. The fund has been set up with US$20m of Deutsche's own capital and will eventually be marketed to outside investors, including institutions.
Shaun Coleman of DeAM's London office said: 'We believe the time is right for the launch of Equilibria, particularly now when questions are being asked about why UK institutions have allocated so little to this asset class compared to US counterparts.'
Hedge funds, which aim to produce absolute returns, have seen a massive growth in popularity. This latest, Equilibria, will be domiciled in the Cayman Islands and will invest in the UK, US, European and Japanese markets. Deutsche Bank's fund management division has launched hedge funds in the US market through its operations there. But the new fund is the first managed in London and aimed primarily at European investors.
With the launch of the Equilibria, Deutsche Bank joins a growing number of large institutions which have launched their own hedge funds including Merrill Lynch Mercury, HSBC and Schroders.
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