Kurzbeschreibung

Reihe: Bank- und Kapitalmarktrecht. Band: 7

Collective investment schemes provide investors with a safe and readily redeemable form of investment. Their economic significance cannot be overestimated. In particular the tripartite structure between the managing company, the depositary and the unitholders gives rise to several legal problems. This thesis is the first to analyse the legal structures of collective investment schemes in Germany and England. The author examines the contractual model and the so called Investmentaktiengesellschaft under German law as well as the unit trust and the open-ended investment company (OEIC) under English law.
The core issues are the legal relationships between the parties to such funds and their duties. A focus is also put on the legal consequences in case these duties are breached and how such damage claims are to be enforced. With regard to the German contractual model the author advocates payments for compensation in favor of the fund assets rather than in favor of the individual unitholder. He further makes suggestions on how to strengthen the rights of the investors.