Abstract
The direct marketing and distribution of hedge funds in Germany face regulatory and tax legal difficulties. As a result, alternative repackaging structures have recently been developed by German banks. In this paper, the author explains how repackaging structures lead to reduced selling restrictions and an optimised tax treatment of the product. The paper goes on to describe how hedge fund repackaging can be used in order to make hedge funds an eligible investment for restricted institutional investors (such as insurance companies).
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Steck, A. Marketing of hedge funds to German investors. J Asset Manag 1, 366–373 (2001). https://doi.org/10.1057/palgrave.jam.2240027
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DOI: https://doi.org/10.1057/palgrave.jam.2240027