BaFin - Navigation & Service

Stand:updated on 16.02.2017 | Topic Investment funds Asset management companies and investment funds

BaFin supervises German asset management companies (Kapitalverwaltungsgesellschaften) and investment funds offered by such companies under the German Investment Code (KapitalanlagegesetzbuchKAGB).

Please note

All asset management companies supervised by BaFin can be found in the database of companies and all investment funds supervised by BaFin can be found in the database of investment funds on the BaFin website.

Investment funds include funds complying with the UCITS Directive, real estate funds, mixed funds, old-age provision funds, infrastructure funds, special funds and hedge funds, i.e. funds with additional risks.

In­vest­ment funds

Investment funds within the meaning of the KAGB include open-ended and closed-ended investment funds. While open-ended investment funds generally invest in financial instruments (with an exception being open-ended real estate funds), closed-ended investment funds tend to invest in physical assets.

More: Investment funds …

Hedge funds

Authorised German asset management companies may establish single hedge funds and funds of hedge funds in Germany. Funds of hedge funds may be approved as retail or special funds, while single hedge funds may only be approved as special funds.

More: Hedge funds …

Did you find this article helpful?

We appreciate your feedback

Your feedback helps us to continuously improve the website and to keep it up to date. If you have any questions and would like us to contact you, please use our contact form. Please send any disclosures about actual or suspected violations of supervisory provisions to our contact point for whistleblowers.

We appreciate your feedback

* Mandatory field

Publications on this topic

“We need last­ing trans­paren­cy”

A new study from BaFin reveals that many asset management companies (Kapitalverwaltungsgesellschaften) are not satisfied with the ESG data and ESG ratings currently available on the market. Dr Thorsten Pötzsch, BaFin’s Chief Executive Director for Securities Supervision and Asset Management, explains in an interview why reliable sustainability data are important for green investments and which …

In­di­rect in­vest­ments in spe­cial funds: BaFin has in­vestor pro­tec­tion con­cerns about prod­uct de­signs that cir­cum­vent re­quire­ments

Many financial services providers are advertising opportunities to “invest like a professional”. Consumers can supposedly do this by investing indirectly in special funds referred to as special AIFs (Spezial-AIF). BaFin is keeping a close eye on these offers. If the risks are too great, BaFin is able to intervene and, in extreme cases, even ban products.

Note con­cern­ing fund-re­lat­ed at­tes­ta­tions

The BaFin issues fund-related attestations (e.g. so-called UCITS attestations) that are to be submitted to domestic or foreign authorities, companies or other institutions in digital form only. Such attestations are no longer signed, sealed or stamped.

In­vest­ment funds: liq­uid­i­ty man­age­ment tools in prac­tice

(BaFinJournal) Liquidity management tools (LMTs), which were made available to German asset managers for liquidity management in the spring of 2020, are now being used by some of the asset managers. This is one of the findings of a survey conducted by the Federal Financial Supervisory Authority (BaFin).

Pre­vent­ing green­wash­ing

BaFin’s Guidelines on sustainable investment funds are to ensure better protection for consumers

All documents