  We present a dynamical model that successfully explains the observed time
evolution of the magnetization in diluted magnetic semiconductor quantum wells
after weak laser excitation. Based on the pseudo-fermion formalism and a second
order many-particle expansion of the exact p-d exchange interaction, our
approach goes beyond the usual mean-field approximation. It includes both the
sub-picosecond demagnetization dynamics and the slower relaxation processes
which restore the initial ferromagnetic order in a nanosecond time scale. In
agreement with experimental results, our numerical simulations show that,
depending on the value of the initial lattice temperature, a subsequent
enhancement of the total magnetization may be observed within a time scale of
few hundreds of picoseconds.
