Assmann, Hans-Dieter and Uwe H. Schneider (eds) (), WpHG, 5th edition. Cologne, Germany: Baur, Jürgen (), Investmentgesetze 2. Teilband, 2nd. Investmentgesetz – Kommentar mit Bezügen zum Kapitalanlagegesetzbuch. Norman Mayr, LL.M. §§ InvG. in: Emde/Dornseifer/Dreibus/Hölscher, . Investmentgesetz . Directive //EC of the European Parliament and of the Council of 16 September on the taking up, pursuit and prudential.
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Volume 1 Issue 2 Janpp. By using the comment function on degruyter.
Volume 27 Issue 6 Decpp. Volume 13 Issue 6 Decpp. According to BaFin the principle of risk diversification applies to all types of investment funds under the InvG and has to be interpreted in the same way for all types of invesrmentgesetz eg UCITS funds, non-UCITS funds, special funds, foreign funds, domestic funds. Volume 18 Issue 1 Janpp. See all formats and pricing. Volume 23 Issue 6 Decpp. Volume 15 Issue 6 Decpp. Volume 29 Issue 6 Novpp. By using the comment function on degruyter.
The qualitative element will generally be fulfilled if the four or more assets are subject to different investment risks.
The newly introduced qualitative element and the various carve-outs set out by BaFin will cause legal uncertainty. Volume 17 Issue 6 Decpp. User Account Log in Register Help.
German Investment Act – BaFin issues new guidelines on the principle of risk diversification
Volume 14 Issue 6 Decpp. Volume 27 Issue 6 Decpp. Volume 8 Issue 2 Janpp. Regulatory compliance Security finance Germany Capital Markets. See all formats and pricing Online. Volume 19 Issue 1 Janpp. About the article Published Online: However, we do not expect BaFin to require cash funds to invest in deposits with different terms and interest rates.
The InvG does not further define the principle of risk diversification. In its general explanations on the principle of risk diversification, BaFin mentions that an investment fund that does not comply with the principle of risk diversification does not fall within the scope of the InvG. Principle of risk diversification — general aspects The principle of risk diversification is set out in section 1 of the German Investment Act Investmentgesetz — InvG as a general requirement for the qualification of a collective investment scheme as an investment fund.
Volume 9 Issue 2 Janpp. Volume 25 Issue 6 Decpp. Volume 7 Issue 4 Decpp. Volume 5 Issue 4 Decpp. Volume 9 Issue 4 Decpp. There is a common understanding in the investment industry that the question whether a collective investment scheme is sufficiently risk diversified to qualify as an investment fund is determined on the basis of the investment goals described in the fund documentation.
In this respect, BaFin proposes the following rule: Volume 25 Issue 6 Decpp. Volume 42 Issue 6 Decpp.
Volume 2 Issue 4 Decpp. BaFin does not address scenarios in which the return on assets in the investment fund is subject to a total return swap. Again, BaFin assumes compliance with the qualitative element of the principle of risk diversification, because investmentgsetz profit generated by gold mines does not depend only on the market price of physical gold but on additional other factors. Volume 29 Issue inveshmentgesetz Decpp. Volume 26 Issue 6 Decpp. Volume 12 Issue 1 Janpp.
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