NEW YORK (HedgeWorld.com)–Jon Venetos and Ross Dackow joined Deutsche Bank AG as part of the bank’s DB Absolute Return Strategies team.

Their duties will involve manager due diligence and portfolio management, as part of a 14-member team formed to construct and monitor more than US$3.6 billion in hedge fund of funds assets. Both will report to Ray Nolte, who is the head of fund of funds strategies.

Mr. Venetos had been part of the fund of funds and managed futures group at Merrill Lynch Investment Managers. Mr. Dackow was a manager selection analyst with Soros Fund Management.

The absolute return strategies group manages more than 16 multi-manager portfolios and has US$5.5 billion in assets under management in both single-manager and multi-manager funds. Deutsche’s hedge fund platform offers access to both Deutsche bank hedge funds and third party hedge fund managers. The absolute return group has more than 100 professionals on staff worldwide.

Last fall, the group signed a distribution agreement with PlusFunds to be the exclusive distributor of the S&P Hedge Fund Index hedge fund offerings to institutional investors in the United States.

SBarreto@HedgeWorld.com