A method for producing a hydroxyl-functionalized polysiloxane having secondary or tertiary hydroxyl groups, said method comprising the steps of: i) reacting a hydroxyalkyl allyl ether having a secondary or tertiary alcohol group with a siloxane under anhydrous conditions and in the presence of a transition metal catalyst of which the transition metal is selected from Groups 8 to 10 of the Periodic Table, said hydroxylalkyl allyl ether conforming to Formula wherein n is 0, 1, 2, 3, 4 or 5, preferably 0; m is 1, 2, 3, 4 or 5, preferably 1; A denotes a spacer group which is constituted by a covalent bond or a C 1 -C 20 alkylene group; R 1 is selected from hydrogen, a C 1 -C 8 alkyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group; R a, R b, R c, R d, R 2, R 3, R 4 and R 5 may be the same or different and each is independently selected from hydrogen, a C 1 -C 8 alkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group, with the proviso that at least one of R 3 and R 4 is not hydrogen; and said siloxane conforming to Formula wherein m is 1, 2, 3, 4 or 5, preferably 1; R 6, R 7, R 8 and R 9 may be the same or different and each is independently selected from a C 1 -C 8 alkyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group; and, ii) in the presence of the reaction product of step i), performing a ring opening polymerization of at least one cyclic siloxane monomer having the general Formula wherein n is 3, 4, 5, 6, 7 or 8, preferably 4; R 10 and R 11 may the same or different and each is independently selected from hydrogen, a C 1 -C 8 alkyl group, a C 2 -C 8 alkenyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group. i) reacting a hydroxyalkyl allyl ether having a secondary or tertiary alcohol group with a siloxane under anhydrous conditions and in the presence of a transition metal catalyst of which the transition metal is selected from Groups 8 to 10 of the Periodic Table, said hydroxylalkyl allyl ether conforming to Formula wherein n is 0, 1, 2, 3, 4 or 5, preferably 0; m is 1, 2, 3, 4 or 5, preferably 1; A denotes a spacer group which is constituted by a covalent bond or a C 1 -C 20 alkylene group; R 1 is selected from hydrogen, a C 1 -C 8 alkyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group; R a, R b, R c, R d, R 2, R 3, R 4 and R 5 may be the same or different and each is independently selected from hydrogen, a C 1 -C 8 alkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group, with the proviso that at least one of R 3 and R 4 is not hydrogen; and said siloxane conforming to Formula wherein m is 1, 2, 3, 4 or 5, preferably 1; R 6, R 7, R 8 and R 9 may be the same or different and each is independently selected from a C 1 -C 8 alkyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group; and, said hydroxylalkyl allyl ether conforming to Formula wherein n is 0, 1, 2, 3, 4 or 5, preferably 0; m is 1, 2, 3, 4 or 5, preferably 1; A denotes a spacer group which is constituted by a covalent bond or a C 1 -C 20 alkylene group; R 1 is selected from hydrogen, a C 1 -C 8 alkyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group; R a, R b, R c, R d, R 2, R 3, R 4 and R 5 may be the same or different and each is independently selected from hydrogen, a C 1 -C 8 alkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group, with the proviso that at least one of R 3 and R 4 is not hydrogen; and said siloxane conforming to Formula wherein m is 1, 2, 3, 4 or 5, preferably 1; R 6, R 7, R 8 and R 9 may be the same or different and each is independently selected from a C 1 -C 8 alkyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group; and, ii) in the presence of the reaction product of step i), performing a ring opening polymerization of at least one cyclic siloxane monomer having the general Formula wherein n is 3, 4, 5, 6, 7 or 8, preferably 4; R 10 and R 11 may the same or different and each is independently selected from hydrogen, a C 1 -C 8 alkyl group, a C 2 -C 8 alkenyl group, a C 3 -C 10 cycloalkyl group, a C 6 -C 18 aryl group or a C 6 -C 18 aralkyl group.