Hedge fund rule may spark German hiring
A law change in Germany could herald recruitment for the country's nascent fund of hedge funds industry.
Citywire reports that wealth management group Oppenheim KAG has launched the first fund of hedge funds in the country. The move follows the authorisation of funds of hedge funds in German last June by German financial regulator BaFin.
The news service quotes Rupert Hengster, spokesman for Oppenheim KAG, who says the company anticipates, "a very positive response from the market for tailor-made investment solutions in the hedge fund area.'
The mandate for Oppenheim's fund of hedge funds will be managed by fund of hedge funds manager Attica Alternative Investments in London.
Recruiters are mixed on whether hiring will result. Alex Henderson, a consultant at recruitment firm Emerson Chase City, says German-focused hiring could increase if the country's fund of funds industry takes off. David Durham, managing director of London-based hedge recruiter Durham Consulting says the new regulation is unlikely to spark recruitment in the London market, but could yet drive demand for German speaking marketers to sell fund of hedge fund products to clients in Germany.
