Special fund
Funds that are restricted for explicit purposes, such as to support a mission station or a development project. – A fund whose investment policy is restricted to specific market segments, such as: Chemical stocks; chemicals. – In German legal terminology, a special fund whose unit certificates are held by a maximum of ten unit holders who are not natural persons on the basis of written agreements with the capital management company. It must be ensured that the unit certificates may only be transferred by the unit holders with the consent of the capital management company; cf. section 1, paragraph 2 KAGG. Special funds in this sense are a component of the shadow banking sector and important business partners of banks. In September 2012, special funds had debt securities issued by German institutions amounting to 50.5 billion. euros in their portfolios. – See pension fund, order fund, fund, ethical, fund, open, generalist, investment fund, forest fund, interest rate control. – The ECB’s respective Monthly Bulletin (“Euro Area Statistics,” section “Monetary Developments, Banks and Mutual Funds,” subheading “Assets of Mutual Funds in the Euro Area by Investment Focus and Investor Group”) provides balance sheet breakdowns of special funds in Euroland. The Deutsche Bundesbank’s monthly statistical supplement “Capital Market Statistics” also publishes figures on sales and purchases of special funds in Germany, broken down by various aspects; Financial Stability Report 2012, p. 58 f. (critical presentation of the various roles; overview), Deutsche Bundesbank Monthly Report of January 2013, p. 18 (special funds characterized by constant inflows overall).
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/