Reform of open-ended funds hit by delay

The re-enactment of the German Investment Act, which includes a number of new regulations for open-end property funds, has been delayed due to the harsh criticism voiced by interest groups and capital investment companies, newspaper Borsen Zeitung has reported. The cabinet meeting scheduled for February 14 has been moved back to mid-April', suggesting that the new law is unlikely to come into effect before October or November 2007.

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