Show distribution of domestic public AIFs (AIF=alternative investment fund) in Germany Unfortunately this specification of service has not yet been completely translated.

If, as a capital management company, you wish to market domestic public AIFs in Germany, you must notify the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).

Public AIFs are collective investment undertakings which raise capital from a number of investors in order to invest it in accordance with a defined investment strategy for the benefit of those investors, which are not operational undertakings outside the financial sector and which are not undertakings for collective investment in transferable securities (UCITS) (alternative investment funds). These may, for example, be funds of funds, open-ended real estate funds or closed-ended funds. In principle, anyone can invest in AIFs. This is why they are also called public AIFs.

If, as a capital management company, you wish to market domestic public AIFs in Germany, you must generally notify the Federal Financial Supervisory Authority (BaFin).

Attach the following additional information and documents to the notification:

  • Programme of operations containing details of the notified AIF, in particular the name and registered office of the AIF.
  • Terms of investment or a reference to the terms of investment and, if applicable, the articles of association or partnership agreement of the AIF.
  • Indication of the depositary or a reference to the depositary of the AIF approved by the German Federal Financial Supervisory Authority (Bundesanstalt).
  • the prospectus and the key investor information of the AIF
  • Any other information available to the investor on the AIF being advertised.
  • if the notified AIF is a feeder fund:
    • Reference to the approved investment rules of the master fund
    • Reference to the depositary of the master fund
    • Prospectus and key investor information of the master fund
    • Indication whether the master fund may be marketed to retail investors within the scope of this law.
  • Forms: none
  • Online procedure possible: no
  • Written form required: yes
  • Personal appearance required: no

Preconditions

You want to market domestic public AIFs in Germany as a capital management company.

Related Links

  • § 316 Kapitalanlagegesetzbuch (KAGB)

Related Links

  • Informationen zum Vertrieb in Deutschland auf der Internetseite der Bundesanstalt für Finanzdienstleistungsaufsicht
  • Häufige Fragen zum Vertrieb und Erwerb von Investmentvermögen nach dem KAGB auf der Internetseite der Bundesanstalt für Finanzdienstleistungsaufsicht
  • You can file the complaint informally.
  • Create an informal letter of complaint.
  • Enclose the required documents.
  • Send everything by post to BaFin.
  • You will receive a notification.

Responsible for the content
Federal Ministry of Finance

Last update or date of publication
03.09.2021