COMAS-II criticised

Allenbridge Group, the London-based hedge fund performance analyst, has produced a critical report on COMAS-II, the second in Commerzbank Securities' series of multi-manager hedge fund products. The analyst has rated COMAS-II as C+.

The report noted: "COMAS-II is a multi-manager, hedge-fund-linked certificate designed primarily for Germany.

Due to the fee structure, the documentation and the lack of transparency, we do not currently recommend this product to our clients."

Commerzbank Securitie