It emerged this week that the German government has approved a bill which will allow hedge funds to be sold in the country from January 1, 2004.
Under the terms of the legislation approved on Wednesday, which has yet to go before the German parliament, hedge funds will be permitted to sell shares to both institutional and private investors.
The new investment fund bill also provides for equality of tax treatment for domestic and foreign funds from 2004, a measure which experts have suggested could bring more than 150 billion euros to the country's capital markets over the next three years.
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