Hans Karl Kandlbinder
- Features
Luxembourg beats the trend
In 2002, Luxembourg Spezialfonds defied the generally negative volume growth in both the Luxembourg and other European investment fund markets. Fund volumes increased, contrary to expectations, by 5.5%, compared to an increase of 6.1% the previous year. Volumes in Luxembourg funds open to the general public (public funds), however, were ...
- Features
Institutional funds make rapid progress
German investment law provides institutional investors, which are legal entities, the opportunity to organise – in a particularly efficient manner in terms of both management and taxation – their real-property investments already existing in Germany or are going to be effected there. This can be carried out through interposing a ...
- Features
Positive outlook
In 2001 the Luxembourg specialised investment funds – or, as they are more correctly known, the funds whose shares/units are not sold to the public in accordance with the law of 19 July 1991 – kept up with the general growth of volumes on the Luxembourg investment fund market. Specialised ...
- Features
Why SPIFs are ideal for investors
German investment law provides institutional investors, which are legal entities, the opportunity to organise – in a particularly efficient manner in terms of both management and taxation – their real-property investments already existing in Germany or are going to be effected there. This can be carried out through interposing a ...
- Features
Rise and rise of Luxembourg specialised funds
It was a surprise when, through the publication of my article on Luxembourg specialised investment funds (LSI) in the Luxembourg supplement published with the February issue of IPE, it became evident that LSI had already reached a volume of nearly e40bn by autumn 2000. Since then, the 2000 year-end figures ...
- Features
Specialised investment funds: advance continues (1)
It gradually became evident during the course of 1999 that, while the specialised investment funds investment medium saw continued high-level expansion, the quite dizzy rates of growth seen in 1997 and 1998 could not be maintained (see Kandlbinder in: Kreditwesen, vol. 3/2000, page 113f. and 147f., for which the Bundesbank ...
- Features
Specialised investment funds: advance continues (2)
De facto agreement with Bundesbank statistics If we consider that the aggregation categories between the Bundesbank and the survey by the author are different and dissimilar in coverage, it may be confidently stated that the results are de facto ‘equal’, as may be discerned from Table 5 in the ‘Crossovers ...
- Features
Specialised investment funds: advance continues (3)
Digression: average size of specialised investment funds per ITC group In this regard, however, the following finding is interesting: the average size per specialised investment fund (excluding specialised real estate investment funds) across the entire branch as at December 1999 (according to the survey, fund assets e473,840m, 4,805 specialised investment ...
- Features
Germany: Hidden attractions of Spezialfunds
The advantages of Spezialfonds for non-German institutional investors are not yet appreciated, argues Hans Karl Kandlbinder
