Investment funds / Capital investment funds
An investment fund is a special asset form, being managed by an investment fund management company and with the assets being held at a separate custodian bank. A capital investment fund established in accordance with the Investment Funds Act of 2011 (InvFG 2011) is jointly owned by all unit holders. Such funds in particular include undertakings for collective investment in transferable securities (→ see UCITS). The special assets must be held separately from the assets of the management company no liability is assumed for the company’s liabilities.
Umbrella constructions are also possible, in which a fund may consist of several sub funds, which might have different technical characteristics.
The capital investment funds also include Austrian special funds, other special funds and pension investment funds (→ see AIF).