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Obtain authorization to transfer the management of a domestic investment fund

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6Plus)

Service Description

You require 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. The right may also 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 an investment firm, then liquidates the investment fund and distributes it to the investors.

If you wish to transfer the right to manage the investment fund to another capital management company instead, you will require approval from the German Federal Financial Supervisory Authority (BaFin). An application is required for approval, which you submit via BaFin's notification and publication platform (MVP Portal).


Process flow

You must apply for approval to transfer the management right for an investment fund to another KVG via BaFin's MVP portal prior to the transfer:

  • To do this, log in to the MVP Portal with your access data.
    • If you do not yet have access: First register on the MVP Portal.
  • Select the specialist procedure "KAGB notification procedure - funds".
    • Please note that you must be registered for the specialist procedure. If you are not yet registered, you can do so in the "Specialist procedure" section ("Apply for specialist procedure").
  • Select "Submit notification" and complete the online application for approval of the transfer to another capital management company.
  • Compile all the necessary documents.
  • Send these documents to BaFin exclusively electronically via the MVP portal.
  • BaFin will check your application to ensure that all transfer requirements have been met and will grant you approval via the MVP Portal in the form of a PDF document if you meet all the requirements.
  • You must then announce the transfer in the Federal Gazette, in the annual or semi-annual report and in the electronic medium specified in the sales prospectus.
  • You may only make the announcement once you have received approval from BaFin.
Requirements

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

  • 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 KVG has a license to manage investment funds.
Which documents are required?

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

  • Application by the managing KVG or
  • Application by the custodian of the investment fund if it wishes to refrain from liquidating the investment fund and transfer the investment fund to another asset management company
What are the fees?

Administration fee: 1025,00 EUR
Payment in advance: no

What deadlines do I have to pay attention to?

There is no deadline. The application must be submitted to the responsible office before the transfer.

Processing duration

The processing of an authorization to transfer the management right to another capital management company takes a maximum of 8 weeks if all legal requirements are met.

Legal basis
Appeal
  • Appeal:

Detailed information on how to lodge an objection can be found in the notification of your application.

  • Appeal to the administrative court if your appeal is rejected.
What else should I know?

There are no indications or special features.

Author

German Federal Financial Supervisory Authority (BaFin)


Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

Teaser

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

Process flow

You must apply for approval to transfer the management right for an investment fund to another KVG via BaFin's MVP portal prior to the transfer:

  • To do this, log in to the MVP Portal with your access data.
    • If you do not yet have access: First register on the MVP Portal.
  • Select the specialist procedure "KAGB notification procedure - funds".
    • Please note that you must be registered for the specialist procedure. If you are not yet registered, you can do so in the "Specialist procedure" section ("Apply for specialist procedure").
  • Select "Submit notification" and complete the online application for approval of the transfer to another capital management company.
  • Compile all the necessary documents.
  • Send these documents to BaFin exclusively electronically via the MVP portal.
  • BaFin will check your application to ensure that all transfer requirements have been met and will grant you approval via the MVP Portal in the form of a PDF document if you meet all the requirements.
  • You must then announce the transfer in the Federal Gazette, in the annual or semi-annual report and in the electronic medium specified in the sales prospectus.
  • You may only make the announcement once you have received approval from BaFin.

Requirements

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

  • 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 KVG has a license to manage investment funds.

Which documents are required?

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

  • Application by the managing KVG or
  • Application by the custodian of the investment fund if it wishes to refrain from liquidating the investment fund and transfer the investment fund to another asset management company

What are the fees?

Administration fee: 1025,00 EUR
Payment in advance: no

What deadlines do I have to pay attention to?

There is no deadline. The application must be submitted to the responsible office before the transfer.

Processing duration

The processing of an authorization to transfer the management right to another capital management company takes a maximum of 8 weeks if all legal requirements are met.

Legal basis

Appeal

  • Appeal:

Detailed information on how to lodge an objection can be found in the notification of your application.

  • Appeal to the administrative court if your appeal is rejected.

What else should I know?

There are no indications or special features.

Author

German Federal Financial Supervisory Authority (BaFin)


Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

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