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28.05.2015

GSK Update: New Opportunities for Loan Funds

With its letter dated May 12, 2015, the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht, German Federal Financial Supervisory Authority) has changed its administrative practice such that the restructuring and prolongation, but also the granting of loans are now generally permissible as part of collective investment management under the KAGB [Kapitalanlagegesetzbuch, German Capital Investment Code], subject to compatibility with the statutory product regulations set out for the respective type of fund pursuant to the KAGB.

With our GSK Update we would like to inform you about the new BaFin practice and its consequences.