Commerzbank plans to expand its funds of hedge funds operations - report |
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Tue, 20 Mar 2007 09:44
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FRANKFURT (AFX) - Commerzbank AG is planning to expand its business of funds of hedge funds and aims to increase funds it has under management to 4-5 bln eur in the medium term, the head of Alternative Investment Strategies at Commerzbank, Mehraj Mattoo told Boersen-Zeitung.Currently funds managed by Commerzbank in this segment amount to 700 mln usd, Mattoo said, adding that several new products will be launched in the next few months.Commerzbank is particularly aiming to win institutional clients for its hedge funds operations, Mattoo said.Geographically the bank's focus is on Germany and other European markets such as Italy, Spain, France and UK as well as Qatar, Bahrain, United Arab Emirates and some Asian markets.Hedge funds are investment funds that are exempt from many of the rules governing other mutual funds, which allows them to accomplish aggressive investing goals. Funds of hedge funds are funds that are invested in several hedge funds.judith.csaba@thomson.comjcs/mas/jcs/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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