Externe Kapitalverwaltungsgesellschaft und fremdverwaltete Investmentgesellschaft

If an investment fund with independent legal personality is managed by an external capital management company, the question arises as to which responsibilities and tasks are assumed by the external capital management company and the investment company respectively. This paper deals with this question. It is conceivable that the investment company assumes the role of a mere administrative unit. Alternatively, the investment company could assume an independent role towards the management company, which takes important decisions on its own responsibility. Thus, the work fills a research gap and offers numerous insights for legal scholars and practitioners.