However, lurking pitfalls in the process
Asset management (also English Asset Management) is a financial service that deals with the management of financial instruments, the invested assetsThe asset Manager meets also the investment decisions for its clients. The term enjoys in Germany, no legal protection and is also used by unregulated financial service providers. The banking supervision legal name of the service is financial portfolio management (§ Abs. a. In contrast to financial or investment advice will not be given in asset management-only investment advice (advice), but investment decisions independently or by the asset Manager made. The focus of this business field, the management of significant private and institutional, and domestic and foreign financial assets (English Assets) of various risk classes (stocks, bonds, real estate Liquidity). Goal of asset management is to optimize the asset portfolio of the customer, taking into account its specific risk situation and boldness, as well as his life planning. Institutional investors - such as insurance companies, pension funds, foundations, charities, and state institutions may instruct asset managers to optimize their assets. These investment strategies are developed and implemented, which are aligned with the respective risk - return targets. The largest asset managers for institutional investors and Asset managers in the world were measured in the year on invested assets: private persons can access asset managers, commercial banks, and the sector outside of the banking system. The asset managers optimize, and maintain the facilities for the purposes of the customer. In contrast to funds a Portfolio will be compiled in accordance with the personal needs. Here are also taken into account aspects such as the individual values (e.g, securities of armor holdings excluded). Wealthy individuals engage an asset Manager, if the care of the assets takes too much time or the owner does not want to acquire the necessary financial education. To note any minimum investment amounts, which have defined some administrations as an entry criterion. The biggest wealth Manager for private assets in the world, the assets under management in were measured in the year: two banks Offer asset management, the risk of conflict of interest, since the Bank earned through the sale of its own financial products in the Portfolio of the customers on both the asset management as well as the product. Independent asset managers, some of retrocessions, which have the same effect. Against measures of cost transparency and cost could be guarantees, which the maximum cost limit, or an agreement with the asset Manager that all retrocessions are passed on to the customer. Private banks and larger Retail banks usually offer asset management mandates. Highly personalized services, especially for independent asset managers. Supervision is a legal distinction between the"real asset management", namely, in section one, Para. three of the KWG regulated financial portfolio management, according to which"the management of individual financial instruments invested assets needed for others with room for manoeuvre"of the permit of the Federal financial Supervisory authority (BaFin), and the"spurious asset management", which is often used as a mere investment advice. However, the facility is subject to the advice of the same Authorisation as asset management. Only exception is two Abs is, according to §. six pack one no eight of the KWG, the investment Advisory services to public mutual funds with Approval for distribution. The legislator assumes that the regulation of the Fund itself is already a sufficient protection. Therefore, the case is special not about the rules of the industrial code (§ f Abs. one no three industrial Code) additional approval is required. If, for example, in the context of the consultation, it is recommended to sell existing holdings of securities that are not investment funds, and the proceeds of the sale in mutual funds to invest, so this is no longer covered by the exception. Because each part of the guidance must be considered separately, and, therefore, the sell recommendation is already fulfilled in the event of approval, subject to investment advice, regardless of the fact that she was associated with an admission-free purchase and a recommendation for an investment Fund.
