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Sal Oppenheim puts Deutsche back into fund of funds business

Deutsche Bank is setting up a fund of funds business within its asset management division, following the finalisation of its acquisition of Sal Oppenheim. The new €6 billion (US$8.8bn) fund of funds is managed by DB Private Equity, a new unit that the bank has established by merging its three existing businesses: Equity Group of Deutsche Bank Private Wealth Management,…

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