Month: January 2015

Drastic changes in the stock market due to new BFin directive 22 July 2013 as new credit agency advocating for transparency and seriousness on the Fund market with all its strength, welcomes the decision of the Bundestag for the AIFM directive through the KAGB (investment code) and the adaptation of many other legal provisions such as the Investment Act, the WpHG and the GewO SCOREDEX. by Johann Sternberg, project manager of Scoredex GmbH under the new rules, the management of all types of funds, also the closed, is subjected to a statutory audit. That since June 1 last year for closed-end funds valid investment law applies even for old cases continue. From July 22, new closed-end funds may are managed but only by capital management companies, which are controlled by the BFin. For the admission as external capital management company, which is the current model of closed-end funds, is an initial liquidity by at least 125,000 EUR prescribed. In addition, reserves in the amount of 25% of the previous year must be made during a closed-end Fund. Future capital management companies generally should have a liability insurance form or alternatively adequate reserves.

Assets that can be zugrechnet a Fund, to be guarded by a depositary. Normally, this is a custodian bank. But also external service providers, like accountants, tax advisors or lawyers come into question. Also the open funds and the so-called UCITS investment funds are affected by the new regulations. Still, the KAGB is different depending on the investors.

Special funds and special AIF can be offered only to institutional investors like banks, pension funds, corporations and family offices or investors who invest at least. EUR 200,000. Private investors can identify only public funds and public AIF. The closed-end investment funds must in future by a Investment stock corporation or investment partnership run. A GbR no longer comes into question.

‘Aircraft funds apply to new heights’, the trade magazine cash recently wrote to the situation on the market. Investment investments prevailed long ago with passenger and cargo aircraft in Germany, then provide an interesting alternative in the investment market. As a specialist in the area of cargo planes, DCM Deutsche capital management AG has positioned himself and currently offers participation in a Boeing 777F. It is the most economical transport aircraft that knows the world”, explains Michael Trentzsch as head of transport of DCM AG and an expert in the field of aircraft. DCM has deliberately set to this aircraft class, especially with the German air freight line AeroLogic, a joint venture of the companies of Deutsche Lufthansa and Deutsche Post DHL, a very prominent lessee could be won. To the financial magazine per Contra, Trentzsch explained his assessment of the current market for aircraft participation, but also to aviation in General in a lengthy interview recently. As the most important For the investors he leads the merchantability of the aircraft at Terminal rental or sale, as well as the cabin re configuration costs apportioned by a cargo plane investment criteria in addition to the credit of the first lessee. This, the demand will generally driven by a long-term strong growth of the air cargo industry for modern cargo aircraft.

He is supported in his assessment of general economic data, because as evidenced by the immediate end of year 2010 flies air cargo passenger traffic normally getting a piece ahead and recovering faster after possible crises. Cargo planes are therefore the ideal assets for investments”, so the DCM aircraft expert. Thus is largely off the funds of the House DCM the risk of default of lease receivables, but also the risk of the resale. In addition, the aircraft through a so-called operating-lease contract are rented. So are the costs increase risks of the operation and the machine utilization risk only when the Tenant. “The Boeing 777F is such as in the case of the DCM aircraft Fund 3 2019 in full-life condition” returned and can be sold in new quality without cabin adjustment measures most particularly in comparison to passenger jumbo.