Fund issuance gathers pace as European investors seek safety

Increasingly sophisticated investment strategies are being packaged into liquid funds as investors across Europe seek to avoid counterparty risk. Fund investment has also been prompted by the imminent implementation of tax laws in Germany which will put investments in funds on a level playing field with certificates (Structured Products, December 2008). One fund launched in December by Unicredit subsidiary HypoVereinsbank offers investors in Germany, Austria and Luxembourg exposure to the 4Ke