DWS, a division of Deutsche Bank, has been given approval by the German financial regulator to begin marketing the first hedge fund products to German investors.
According to a statement released by BaFin, the two new funds of hedge funds were to be unveiled at the end of March. In addition, the regulator stated that it is reviewing four other hedge funds applications, in addition to funds classified as foreign hedge funds.
The hedge fund market in Germany was until recently tightly restricted. However, after single hedge fund rules were approved by the regulator in February this year, it is expected that this largely untapped market place, potentially worth between US$12 - $16 billion according to reports, will begin to record significant growth.
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