Obtain approval to delegate the management of a domestic investment fund Unfortunately this specification of service has not yet been completely translated.

You need approval from the German Federal Financial Supervisory Authority (BaFin) to transfer the management of an investment fund to another capital management company.

As a capital management company (KVG), you can terminate your right to manage an investment fund. In addition, the right may expire, for example in the event of insolvency. In this case, either the investment fund or the right to manage this investment fund is transferred to a depositary. The depositary, a special credit institution or investment firm, then processes the investment fund and distributes it to the investors.

If you wish to transfer the right to manage the investment fund to another investment management company instead, you will require approval from the Bundesanstalt für Finanzdienstleistungsaufsicht. An application is required for this approval.

Transfer of the management right for an investment fund to another capital management company:

  • Application by the managing KVG or
  • Application by the depositary of the investment fund if it wishes to refrain from winding up the investment fund and transfer the investment fund to another KVG.

Forms: no

Online procedure possible: yes

Written form required: yes

Personal appearance required: no

Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)


Preconditions

Transfer of the management right for an investment fund to another capital management company:

  • The investment fund is owned by the KVG.
  • The investment fund is co-owned by the investors, but the KVG has the right to manage and dispose of it.
  • The receiving investment management company is licensed to manage investment funds.

Related Links

  • § 99 Kapitalanlagegesetzbuch (KAGB)
  • § 100 Kapitalanlagegesetzbuch (KAGB)
  • § 100b Kapitalanlagegesetzbuch (KAGB)

Related Links

  • Informationen zur Aufsicht der der BaFin über Kapitalverwaltungsgesellschaften und Investmentfonds auf der Internetseite der BaFin

In principle, you must apply by post for permission to transfer the management right for an investment fund to another investment management company. Due to the pandemic, an application by e-mail is currently also possible:

  • Formulate an application for approval of the transfer to another investment management company.
  • Compile all the necessary documents.
  • Send the documents to BaFin.
  • BaFin will review your application to ensure that all transfer requirements have been met and will grant you approval in writing if you meet all requirements.
  • You must then announce the transfer in the Bundesanzeiger (Federal Gazette) and in the annual or semi-annual report as well as in the electronic medium specified in the sales prospectus.
  • You may only make the announcement once you have received BaFin's approval.

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Last update or date of publication
26.07.2021