Deutsche to drive forward equity vehicle

The fund, to be run by UK manager Charles Curtis and Europe specialist David Haysey, has been seeded internally with around $10m.

It has been run as an internal portfolio since November 2000 and is now on offer to a wider marketplace.

The new product follows the disappointing placing of Deutsche's closed ended London-listed fund of hedge funds for the UK market which took around £55m, compared to a similar product for the European market, which raised e1.6bn.

Deutsche says market volatility at

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