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Alternative Market Briefing

Do not name your fund a 'hedge fund’ in Germany

Thursday, August 08, 2013

amb
Carsten Straush
Komfie Manalo, Opalesque Asia:

Some years ago, an ambitious politician killed the expression "hedge fund" in Germany. This is why one who wants to sell a fund in Germany does not name it a "hedge fund." This is what two hedge fund managers who attended the latest Opalesque Roundtable in Frankfurt claimed.

The 2013 Opalesque Germany Roundtable was sponsored by Eurex, WTS and Taussig Capital and took place on June 12 at the office of tax, legal and consulting firm WTS in Frankfurt.

Frank Huttel, who is responsible for macro research and selecting funds at FiNet Asset Management AG said, "Some years ago, there was a German politician who really killed the expression 'hedge fund´ when he talked about private equity. He didn't know what he was talking about, but from that point onwards, the word hedge fund was burned."

His statement was completely corroborated by Carsten Straush, President of German Asset Managers Group, which runs hedge funds and fund of funds, who claimed that the politician was a former finance minister who wanted to become chancellor. He "came to the funny conclusion that the main task of hedge funds was to destroy companies an......................

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