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Reform before intersecting closed-end funds In the framework of the implementation of the alternative investment fund managers (AIFM) directive has the Federal Ministry of finance presented the extensive discussion draft, could result in the changes to serious in July 2013 without improvements in the area of closed-end funds from entry into force. Click NYC Mayor to learn more. Although the affected industry associations explicitly welcome the significantly improved protection for investors-targeted integration of closed-end fund providers and their products in a fully regulated capital market, however, legitimate resistance against individual regulations encourages. To limit the risk, for example, the leverage ratio of closed-end funds should in the future exceed 30 percent. Follow others, such as NYC Marathon, and add to your knowledge base. However, depending on the segment between 40 and 75 percent are arranged. Industry insiders fear that a low debt ratio could massively undermine the competitiveness of closed investments as investment and investment vehicles.

At least would have to accept significant reductions in the expected return and opportunities, such as the currently very favourable interest rate environment, could go largely unused. The final collection of asset classes in which private investors may invest in the future about closed-end funds is also questionable. So, only investments in real estate, ships, aircraft and renewable energy should be allowed from next summer. Notwithstanding the possible development and income opportunities, all other established asset classes such as, for example, private equity, container, infrastructure, forest, agricultural, rail vehicles, raw materials, and other private investors were no longer accessible closed holdings. The same applies to all future innovative new segments. This is particularly so critical to assess as precisely the expansion of renewable energies in the past has greatly benefited from the participation of closed-end Fund. Would the proposed Bill already entered into force at a time when they were still a innovation, would be renewable energy of the closed holdings remained cut off. It can hardly predict what asset classes in the future appear eligible.

German Federal Supreme Court shows barriers which had liability of fund investors on the second civil Senate of the Federal Supreme Court to decide which turned against the recovery of profit independent distributions of ship investment company in a matter of an investor. The situation has been that a fund company demanded payment of distributions by the investors. The second Civil Chamber of the Federal Court in this matter has decide that only profit-independent distributions can be recovered by an investor as limited partners if any such claim arising directly out of the social contract. In the underlying social contract, initially found a rule requiring the ship Fund independently proven cannot distribute profits or losses to investors, inasmuch as it allows the liquidity. Further regulations concerned the conditions for profit independent withdrawals first and foremost. After economic problems occurred for the fund company, decided the recovery of independent income distributions paid to investors as shareholders the general meeting of shareholders.

But the second civil Senate of the Federal Supreme Court considered the recovery as unjustified, because the social contract not sufficiently fixed a repayment claim. In particular, it was not to remove that entitlement to the recovery of dividends according to the judge those rules of the articles of Association. The need to examine the basis of the Treaty on which the Fund management company relies, arises for investors who are exposed to recoveries of distributions. An experienced lawyer can determine whether claims for recovery a fund company actually exist or how high are the chances for a successful enforcement of any claims for damages against third parties. see You too: Vorsicht_bei_R%C3%BCckforderungen_von_Aussch%C3%BCttungen-Bundesgerichtshof_zeigt_Schranken_der_Haftung_von_Fondsanleger_auf.html author and contact person: Ralf Renner – a trained banker and lawyer – lawyer Tel.: 030 / 810 030-22 E-mail: lawyer Ralf Renner represents a variety of damaged investors.

Legal issues of closed-end Fund, where he has extensive years of experience are the specialty of lawyer Ralf Renner. In these contexts, investors in a lawyer approach, if you want to check what rights and claims exist. Blanket statements prohibit themselves? In any case, an individual assessment is offered. Firm Renner we are a law firm specializing in the areas of capital investment law. Our self understanding, legal work is a legal service, which has to be aligned with the needs of the client. We would advise you legally at an early stage to help avoid litigation. Because in everyday life an imbalance in favour of the better informed and advised. We want that from the outset this imbalance not payable affects. Inasmuch as a judicial confrontation is inevitable, we of course nationwide represent in court.

were.Away from a strategy he could hoping that the purchased shares rise, he has made himself worry about the sale of the shares in success or failure. NYC Mayor may help you with your research. Without having to be aware of the risk, he would have distributed of course erweise his entire fortune in a few values, risk diversification, a money and risk management for investments in individual values crucial whats, allowing completely disregarded. Thus, his goal to create long-term and sustainable, would collide with the likely short-term orientation of the stock exchange letter. The sample is well seen, that is a certain knowledge needed to make the right investment decisions. A stock market newbie who decides for shares, without questioning his goals and his actions, will make forced loss. Possibly he is a rather impatient type and can not see losses the wrong place… then the stock market is certainly to unleash his impatience and his feelings. The basic question should therefore read: “Fit shares as a form of investment for me?” and not: “How I can succeed on the stock exchange?”.

Because it adjusts itself automatically, if fits the selected form of investment one, too, you are informed well about them and connected with risk and money management is implementing a good stop setting. In addition to the basic questions about the mentality of investor expertise is of course essential. Premise of each investment, however, is the questioning of the own actions and behavior. Also on the stock exchange. Contact: Steffen Wilch Zakri route 34 65835 song b Internet: E-Mail:

Which can also rent to be achieved when connecting rentals are subject to large fluctuations, so also considerably lower than that planned. Borrowing in Swiss francs: the Fund had taken a portion of the loans in Swiss francs and so a lower interest burden. This had to result but also the risk of exchange rate fluctuations. The drop in the value of the euro against the Swiss franc has led in recent years, that the overall loan burden has grown and also for payments to be in Swiss francs to the Bank spend were higher amounts in euro. This has weighed heavily on the economic situation of the Fund. Swiss franc funding can have disadvantages, was communicated to investors in the minority of cases. Agreed interest coverage: many Fund shareholders for the first time from writing the HCI trust by May 10, 2010, learned that in relation to the borrowing for the Fund real estate an agreement was reached with the financing bank, a certain ratio of income to Interest payments do not fall below may (so-called interest coverage ratio).

This happens, the Bank is entitled to special repayment until the interest burden is again in the agreed framework. Is this not in the position, the Bank may terminate the loan and exploit the real estate. This dramatic consequences can be found neither in the Fund’s prospectus, yet they were revealed to investors in advance of participation. Suitable real estate funds as retirement savings: the funds as a safe investment has been recommended many investors for their retirement. As demonstrated in the face of the risk of loss that have realized, a suitability as retirement does not exist. This seems even the Federal Supreme Court and has been awarded for this reason alone already damages investors. Share of the real estate fund in fact inalienable: because there is no functioning secondary market for shares in funds, are in fact not to sell the shares.

However, some investors were assured of the ability to sell at any time. Risk of loss: The existing in each closed-end funds Many investors were not at all informed risk of loss. Total limitation of compensation claims threatens 2012 – limitation day exactly 10 years after consulting investors of HCI funds Austria II we strongly advise that promptly by specialized lawyers for banking and capital market law to check, whether they can claim damages against their advisors due to faulty investment advice. Because the statutory limitation period, the so-called total limitation occurs exactly ten years after the investment advice or the drawing of this participation. After that, no claims can be made more claims against the respective consultants, nor against the founding shareholders of the Fund as a contractual partner of acceding investors. Therefore, Austria II Fund is offered for investors of the HCI rush. We are for an assessment of your individual options available. Call us, we know how to get to your right! Nittel Banking and capital market law firm your Contact person Mathias Nittel, lawyer specializing in banking law and capital market law Tino Ebermann, lawyer specializing in banking law and capital market law Heidelberg: Hans-Bockler-Strasse 2 A, 69115 Heidelberg phone: 06221 915770 Fax: 06221 9157729 Munich: residential street 25, 80333 Munich Tel.: 089 25549850 Fax: 089 25549855