HSBC Trinkaus has designed a unique special fund for Nordrheinische Aerzteversorgung (NAEV) in Germany through a hedge fund platform.
The structure of a German hedge fund through a special fund, designed by HSBC Trinkaus, neither has to abide to the legally binding restrictions for German umbrella hedge funds regarding target funds nor the 50 per cent limit usually exercised on investments in other hedge funds.
Additionally, NAEV, which is subject to the conditions of the Federal State Insurance Supervision (“Landesversicherungsaufsicht”), is not obliged to follow the 1 percent restriction applied on investments in single hedge funds.
The fund will be allowed to invest more than 50 percent of its value in other hedge funds. The fund was issued by HSBC Trinkaus subsidiary Internationale Kapitalanlagegesellschaft (INKA).
“It was of great importance to us to find a regulated German solution as a platform for our hedge fund investment which simplifies the investment in foreign hedge funds and ensures a consolidated reporting,” says Dirk Lepelmeier, managing director of NAEV. “Furthermore, it was a particular concern for us to strengthen the investment location Germany. By initiating this model we have contributed to this development.”