DWS to launch UK-based fund

DWS Investments is planning to launch a regulated onshore long/short UK equity fund for the retail market in the second quarter. Barring regulatory problems, this will be the first ever open-ended domestic hedge fund to be based in the UK. The portfolio, based on an existing institutional product run by Charles Curtis, will make use of the Ucits III and mixed funds regulatory changes, which give managers greater flexibility in the use of derivatives. DWS believes it can construct a product that has daily dealing and can price twice a month, in accordance with Ucits requirements. Paul Dell...