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.
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