responsibility finder
Schleswig-Holstein

Show distribution of domestic public AIFs (AIF=alternative investment fund) in Germany

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6PLus)

Service Description

Public AIFs are collective investment undertakings which raise capital from a number of investors in order to invest it in accordance with a defined investment strategy for the benefit of those investors, which are not operational undertakings outside the financial sector and which are not undertakings for collective investment in transferable securities (UCITS) (alternative investment funds). These may, for example, be funds of funds, open-ended real estate funds or closed-ended funds. In principle, anyone can invest in AIFs. This is why they are also called public AIFs.

If, as a capital management company, you wish to market domestic public AIFs in Germany, you must generally notify the Federal Financial Supervisory Authority (BaFin).


Process flow
  • You can file the complaint informally.
  • Create an informal letter of complaint.
  • Enclose the required documents.
  • Send everything by post to BaFin.
  • You will receive a notification.
Requirements

You want to market domestic public AIFs in Germany as a capital management company.

Which documents are required?

Attach the following additional information and documents to the notification:

  • Programme of operations containing details of the notified AIF, in particular the name and registered office of the AIF.
  • Terms of investment or a reference to the terms of investment and, if applicable, the articles of association or partnership agreement of the AIF.
  • Indication of the depositary or a reference to the depositary of the AIF approved by the German Federal Financial Supervisory Authority (Bundesanstalt).
  • the prospectus and the key investor information of the AIF
  • Any other information available to the investor on the AIF being advertised.
  • if the notified AIF is a feeder fund:
    • Reference to the approved investment rules of the master fund
    • Reference to the depositary of the master fund
    • Prospectus and key investor information of the master fund
    • Indication whether the master fund may be marketed to retail investors within the scope of this law.
What are the fees?

UR 730,00 per offence

What deadlines do I have to pay attention to?

You must make the notification before marketing the AIF.
You must notify planned changes to the AIF at least 20 working days before the change is implemented, and unplanned changes immediately after they occur.

Processing duration

Within 20 working days after receipt of the complete notification documents as well as the approval of the investment terms and conditions and the depositary, BaFin will inform you whether you can start marketing the fund.

Legal basis
Appeal
  • Detailed information on how to lodge an appeal can be found in the decision on your application.
  • In the absence of remedy, administrative court action

Applications / forms
  • Forms: none
  • Online procedure possible: no
  • Written form required: yes
  • Personal appearance required: no
Author
Technically approved by

Federal Ministry of Finance

Process flow

  • You can file the complaint informally.
  • Create an informal letter of complaint.
  • Enclose the required documents.
  • Send everything by post to BaFin.
  • You will receive a notification.

Requirements

You want to market domestic public AIFs in Germany as a capital management company.

Which documents are required?

Attach the following additional information and documents to the notification:

  • Programme of operations containing details of the notified AIF, in particular the name and registered office of the AIF.
  • Terms of investment or a reference to the terms of investment and, if applicable, the articles of association or partnership agreement of the AIF.
  • Indication of the depositary or a reference to the depositary of the AIF approved by the German Federal Financial Supervisory Authority (Bundesanstalt).
  • the prospectus and the key investor information of the AIF
  • Any other information available to the investor on the AIF being advertised.
  • if the notified AIF is a feeder fund:
    • Reference to the approved investment rules of the master fund
    • Reference to the depositary of the master fund
    • Prospectus and key investor information of the master fund
    • Indication whether the master fund may be marketed to retail investors within the scope of this law.

What are the fees?

UR 730,00 per offence

What deadlines do I have to pay attention to?

You must make the notification before marketing the AIF.
You must notify planned changes to the AIF at least 20 working days before the change is implemented, and unplanned changes immediately after they occur.

Processing duration

Within 20 working days after receipt of the complete notification documents as well as the approval of the investment terms and conditions and the depositary, BaFin will inform you whether you can start marketing the fund.

Legal basis

Appeal

  • Detailed information on how to lodge an appeal can be found in the decision on your application.
  • In the absence of remedy, administrative court action

Applications / forms

  • Forms: none
  • Online procedure possible: no
  • Written form required: yes
  • Personal appearance required: no

Author

Technically approved by

Federal Ministry of Finance

Further information and offers