What are the investment businesses

abstract

The investment in investment funds has meanwhile achieved an important status in Austria; in 2005 there was a total of 2,083 funds to choose from; the fund volume reached a peak value of € 55.6 billion1. Economically, the investment in the form of investment funds can be based on the principles of Diversification of risk, the External administration and the collective investment lead back2. The implementation of these principles with the aim of offering investors professional asset management in the form of a pre-structured fund product requires a series of “security measures” from the investor protection perspective, a system of “checks and balances” in the structure of the “mutual fund law triangle"Involved persons or institutions3. This is the capital investment company in which the fund management is concentrated - with the option of outsourcing it to a management company - the custodian bank, which is responsible in particular for the safekeeping of the fund's assets, and finally the investors.

In this section, larger parts of the Univ.-Prof. Dr. Gert Iro taken over the edited previous edition.

On the development of the Austrian investment fund industry Lucius / Steiner, The importance of capital investments by way of investment companies, Dorten-FS (2006) 16, 27 ff.

Köndgen in BankR-HB § 113 margin no.1; Kalss / Oppitz / Zollner, Capital marketR I § 27 margin no.13ff.

Einsele, Banking and capital market law § 10 margin no.18.

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Copyright information

© Springer-Verlag / Vienna 2007

Authors and Affiliations

  1. 1.Grohs Hofer RechtsanwälteAustria