Standard & Poor’s has placed the RREEF Global Equity Opportunities Fund ‘on hold’ following Deutsche Asset Management’s (DAM’s) decision to conduct a “strategic review” of the fund.
DAM is the responsible entity of the fund. In its review of the product offering, DAM will be assessing the structure and investment management of the fund and the effect the current market conditions are having.
Investor redemptions and applications will be suspended during the review process.
S&P fund services analyst Simon Scott said the review came as a result of falling fund levels during the year, but the redemption freeze doesn’t point to cash or liquidity issues.
Nor does the review or redemption freeze affect any other DAM fund-of-hedge fund offerings.
The RREEF Global Equity Opportunities Fund was previously rated three stars. S&P will review the ‘on hold’ rating once the outcome of the DAM review has been finalised.
