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Management of domestic investment funds and EU investment funds or foreign investment funds (collective asset management). The following domestic investment funds are subject to collective asset management: a) mixed investment funds pursuant to section 218 et seq. KAGB; b) other investment funds pursuant to section 220 et seq. of the KAGB; c) open-ended domestic special AlF with fixed investment conditions in accordance with section 284 KAGB, which are not allowed to invest in the assets specified in section 284 (2) no. 2 lit …
Management of domestic investment funds and EU investment funds or foreign investment funds (collective asset management). The following domestic investment funds are subject to collective asset management: a) mixed investment funds pursuant to section 218 et seq. KAGB; b) other investment funds pursuant to section 220 et seq. of the KAGB; c) open-ended domestic special AlF with fixed investment conditions in accordance with section 284 KAGB, which are not allowed to invest in the assets specified in section 284 (2) no. 2 lit. e), f) and h) KAGB in accordance with their investment conditions; d) General open-ended domestic special AlF pursuant to section 282 KAGB, excluding hedge funds, each of which may invest in the following assets in accordance with their investment conditions: aa. the assets referred to in section 284 KAGB with the exception of the assets referred to in section 284 (2) no. 2 lit e), f) and h) KAGB, bb. other assets pursuant to section 282 (2) KAGB in the private equity, infrastructure and renewable energies sectors for which a market value can be determined. e) Closed-end public AlF in accordance with § 261 et seq. KAGB, as well as closed-end domestic special AlF in accordance with § 285 et seq. KAGB, each of which may invest in the following assets in accordance with their investment conditions: aa. Real estate, including forest, forestry and agricultural land, bb. Installations for the generation, transport and storage of electricity, gas or heat from renewable energies, cc. Infrastructure that is used for assets within the meaning of lit. bb. dd. the following assets pursuant to section 261 (1) nos. 2 to 7 KAGB: i. shares or shares in PPP project companies and infrastructure project companies pursuant to section 261 (1) no. 2 KAGB; ii. shares and shares in companies which, according to the articles of association or the articles of association, may acquire assets pursuant to section 2 (2) (e) aa to cc. of this articles of association as well as the assets or participations in such companies necessary for the management of these assets, section 261 (1) no. 3 KAGB; iii. Participations in companies that are not admitted to trading on a stock exchange or included in an organised market in accordance with section 261 (1) no. 4 KAGB; iv. shares or shares in closed-end domestic public AIFs in accordance with Sections 261 to 272 of the KAGB or in European or foreign closed-end Retail AIFs whose investment policy is subject to comparable requirements, in accordance with Section 261 (1) No. 5 KAGB, insofar as they invest exclusively in assets pursuant to Section 2 (2) (e) aa to dd. of this Articles of Association; v. Shares or shares in closed-end domestic special AIFs in accordance with Sections 285 to 292 of the KAGB or in closed-end EU special AIFs or foreign closed-end special AIFs whose investment policy is subject to comparable requirements, pursuant to Section 261 (1) No. 6 KAGB, insofar as they invest exclusively in assets pursuant to Section 2 (2) (e) aa to dd. of this Articles of Association. vi. assets pursuant to section 261 (1) no. 7 KAGB in conjunction with sections 193 to 195 KAGB; Ee. Money loans pursuant to section 285 (3) sentences 1 and 3 KAGB, which is applicable mutatis mutandis with the proviso that, by way of derogation from section 285 (3) sentence 1 KAGB, a maximum of 30% of the aggregated capital contributed and the uncalled committed capital of the closed-end public AIF shall be used for these loans and, in the case of section 285 (3) sentence 1 no. 3 KAGB, the loans granted to the respective company shall not cover the acquisition cost of the shareholdings held in the company exceed; f) In the case of closed special AlF pursuant to § 285 et seq. KAGB, the following assets are also permissible: aa. Shares or shares in open-ended investment funds within the meaning of section 1 (4) no. 2 KAGB that invest in the private equity, infrastructure and renewable energies sectors, bb. other assets pursuant to section 285 (1) KAGB in the private equity, infrastructure and renewable energies sectors for which a market value can be determined, cc. granting of loans on behalf of the fund assets pursuant to section 285 (2) KAGB. In addition, collective asset management includes a) open-ended and closed-end EU AIFs as well as open-ended and closed-end foreign investment funds comparable to the above-mentioned domestic investment funds, b) open-ended and closed-ended European long-term investment funds in accordance with Regulation (EU) 2015/760 of the European Parliament and of the Council on European long-term investment funds (ELTIF Regulation) as amended, which aa) within the framework of the requirements of the ELTIF Regulation in the assets referred to in Article 2 (2) of these Articles of Association as well as in other open and closed ELTIFs, which in turn are only included in the assets referred to in Article 2 (2) of the Statutes. 2 of these articles of association, and bb) may be distributed to both professional investors and private investors. In the context of collective asset management, the company may grant cash loans pursuant to section 285 (3) KAGB not only for the account of a domestic closed-end special AlF pursuant to section 285 KAGB, but, subject to the corresponding application of section 285 (3) KAGB, also for the account of general domestic open-ended special AlF pursuant to section 282 KAGB and domestic open-ended special AlF with fixed investment conditions pursuant to section 284 KAGB. The Company provides the following services and ancillary services: a) the management of individual assets invested in financial instruments within the meaning of Section 1 (11) of the German Banking Act for others with decision-making leeway, including the portfolio management of third-party investment funds (financial portfolio management pursuant to Section 20 (3) No. 2 KAGB), b) the management of individual assets not invested in financial instruments within the meaning of Section 1 (11) of the German Banking Act for others with (c) investment advice in relation to financial instruments within the meaning of Section 1 (11) of the Banking Act, (d) investment advice in relation to assets that are not financial instruments within the meaning of Section 1 (11) of the Banking Act, (e) the custody and management of shares in domestic investment funds, EU investment funds and foreign AlF for others, (f) the brokerage of transactions relating to the acquisition and sale of financial instruments (investment brokerage), g) distribution of shares or shares in third-party investment funds, h) other activities directly related to the services and ancillary services referred to in this paragraph, i) administrative and other services exclusively for group companies of the Allianz Group, which do not require state approval.
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