The Investment Act:A new regulatory framework for establishment and distribution of hedge funds in the German investment market

Reinhardt, Bj�rn; Zillmann, Udo
July 2004
Journal of International Banking Regulation;Jul2004, Vol. 5 Issue 4, p358
Academic Journal
The new Investment Act came into force in Germany as a part of the new German Investment Modernisation Act on 1st January, 2004. This paper focuses on the provisions of the new Investment Act, which allows the establishment and distribution of hedge funds in Germany for the first time. It begins with a brief introduction regarding the contents of the Investment Modernisation Act and continues with a summary overview of the regulatory framework for hedge funds under the new German investment law. In particular it addresses the new legislative structure provided for hedge funds and the requirements for the establishment of domestic hedge funds and the public distribution of domestic and foreign hedge funds under the new Investment Act.


Related Articles

  • California Retirement Fund Close to Hedgies Hire. Lewis, Jakema // Investment Management Mandate Pipeline;10/28/2013, p6 

    The article reports on the hedge fund manager to added by the Orange County Employees' Retirement System (OCERS), which was approved by its Investment Committee along with a new search in the real estate market. Committee members are expected to be advised to make a 6 to 8.5 percent allocation...

  • Alliance & Leicester debuts 'fair value macro hedge'.  // Accountancy;Aug2006, Vol. 138 Issue 1356, p86 

    This article discusses Alliance & Leicester, a British bank. Alliance & Leicester recognized a £60 million portfolio hedge as an asset, in accordance with British Financial Reporting Standards. The article further discusses the move in light of financial reporting laws across Great Britain,...

  • Boost your traditional portfolio: Activate traditional asset classes with alternative investments. Jaggi, Andreas; Jeanneret, Pierre; Scholz, Stefan // Journal of Derivatives & Hedge Funds;Aug2011, Vol. 17 Issue 2, p133 

    We propose a new methodology to include hedge funds in a traditional portfolio. The concept of 'substitution' consists of activating a passive traditional investment strategy in a given asset class by adding active hedge fund strategies focusing on the same asset class. Our analysis, based on...

  • Hedge Funds: Do They Do What They Say They Do? Mackey, Scott P.; Melton, Michael R. // Journal of Business & Economics Research;Oct2010, Vol. 8 Issue 10, p7 

    The purpose of this research is two-fold, to determine if hedge funds follow their stated strategy styles and to examine how hedge funds' strategy allocations evolve over time in response to changed economic and market conditions. Our key advance is that we show that standard linear style models...

  • UTIMCO to put $3.8 billion up for grabs in '06. Williamson, Christine // Pensions & Investments;10/3/2005, Vol. 33 Issue 20, p1 

    The article reports that University of Texas Investment Management Co. will start doling out nearly $4 billion to external money managers next year. The money, now primarily in short-term securities, will go into more sophisticated investments, with hedge fund managers possibly coming in for $1...

  • Recipe of Tradition, Research Equals Success for Hedge Fund Boutique.  // Investment Management Weekly;11/8/2004, Vol. 17 Issue 44, p6 

    Provides information on hedge fund-of-funds firm Powers & Dubin Asset Allocation and Management Co. Significance of being conservative to the company; Marketing efforts of the company; Concerns about the ruling of the U.S. Securities and Exchange Commission regarding the registration of hedge...

  • Spain First EU Country to Open Hedge Funds to Masses. Papini, Jessica // Money Management Executive;7/9/2007, Vol. 15 Issue 27, p8 

    The article reports on the plan of Spain to introduce retail investors to hedge funds. It is emphasized that the Summer Law, which has been approved by the Spanish market regulator in 2005, introduced hedge funds-of funds, as well as hedge funds to the market. Accordingly, retail investors can...

  • The new architecture for hedge fund regulation: an assessment of the recent US and EU initiatives. Maris, Pavlos G. // Law & Financial Markets Review;May2012, Vol. 6 Issue 3, p208 

    The present article seeks to introduce the recent US and EU legislation dealing with the regulation of alternative investment vehicles, focusing on hedge funds in particular. It begins by briefly introducing the operation of hedge funds and their key characteristics. It then goes on to outline...

  • AIFMD: the ongoing challenge with reverse solicitation in Europe. Prew, Bill // Invest Hedge;4/20/2015, p1 

    The article focuses on issues related to the Alternative Investment Fund Managers Directive (AIFMD) in Europe. It is noted that managers have the choice of marketing with only European Union (EU) AIFMs able to access the EU marketing passport. Challenges and regulatory arbitrage regarding the...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics