white-label fund, WLF): An asset that a capital management company, a bank or a private asset manager – an independent fund manager, then often also called promoter – puts together specifically according to the wishes of a client. The fund name is usually freely selectable (private labeling), and all terms and conditions are specifically determined by the client. The majority of private label funds – as they are often referred to in German – have so far been put together and brought to market by banks. Each order fund contains its own specific mix of different assets; in addition to stocks, bonds, hedge fund shares and securitization papers, for example, it also contains foreign currency receivables, precious metals, real estate and options of all kinds. – See equity fund, investment committee, unit certificate, investment diversification, captive fund, securities fund, fund, ethical, real estate fund, net asset value, Investment Modernization Act, country fund, private-label asset-backed securities, mutual fund, pension fund, risk monitoring, structured, special fund, tax-saving fund, accumulation fund, asset manager. – Cf. ECB Monthly Bulletin, February 2008, p. 102 (eligibility of securitized securities from an order fund).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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