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German Closed-End Funds

In: Understanding German Real Estate Markets

Author

Listed:
  • Helmut Knepel

    (FERI AG)

  • Thorsten Voss

    (WTS Legal Rechtsanwaltsgesellschaft mbH)

Abstract

Closed-end funds investing in real estate play an important role in the asset allocation of wealthy private investors in Germany. The investors take shares in a private company, investing a relatively small amount of money in large individual properties. The following article describes the basic elements of closed-end funds, the market in Germany, the different players, with special emphasis on the impact of the new regulations by the German Capital Investment Act (Kapitalanlagegesetzbuch, KAGB) transposing the European Alternative Investment Funds Managers Directive (AIFMD) into German national law.

Suggested Citation

  • Helmut Knepel & Thorsten Voss, 2017. "German Closed-End Funds," Management for Professionals, in: Tobias Just & Wolfgang Maennig (ed.), Understanding German Real Estate Markets, edition 2, pages 295-318, Springer.
  • Handle: RePEc:spr:mgmchp:978-3-319-32031-1_20
    DOI: 10.1007/978-3-319-32031-1_20
    as

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