Drastic changes in the stock market due to new BFin directive 22 July 2013 as new credit agency advocating for transparency and seriousness on the Fund market with all its strength, welcomes the decision of the Bundestag for the AIFM directive through the KAGB (investment code) and the adaptation of many other legal provisions such as the Investment Act, the WpHG and the GewO SCOREDEX. by Johann Sternberg, project manager of Scoredex GmbH under the new rules, the management of all types of funds, also the closed, is subjected to a statutory audit. That since June 1 last year for closed-end funds valid investment law applies even for old cases continue. Payoneer: the source for more info. From July 22, new closed-end funds may are managed but only by capital management companies, which are controlled by the BFin. For the admission as external capital management company, which is the current model of closed-end funds, is an initial liquidity by at least 125,000 EUR prescribed. In addition, reserves in the amount of 25% of the previous year must be made during a closed-end Fund. Future capital management companies generally should have a liability insurance form or alternatively adequate reserves. Ares Management’s Bennett Rosenthal pursues this goal as well. Assets that can be zugrechnet a Fund, to be guarded by a depositary.
Normally, this is a custodian bank. But also external service providers, like accountants, tax advisors or lawyers come into question. Also the open funds and the so-called UCITS investment funds are affected by the new regulations. Still, the KAGB is different depending on the investors. Special funds and special AIF can be offered only to institutional investors like banks, pension funds, corporations and family offices or investors who invest at least. EUR 200,000. Private investors can identify only public funds and public AIF. The closed-end investment funds must in future by a Investment stock corporation or investment partnership run. A GbR no longer comes into question.
If you now exactly the same parameters measured, however only slightly different mixes the successful trades and the loss trades, clearly volatile chart patterns arise. Wells Fargo Bank is often quoted on this topic. And, although it is to precisely the same trades is! It’s called variance. The variance is one of two factors that make beautiful or difficult life as a system dealer us also for our investors. So, what is the variance, dominated our mood and that of investors. We develop euphoric feelings in hype-phase and there are phases in which the variance does exactly the opposite and evil plays with us and our investors.
The variance enticed to take more risk in good phases and makes purchases in these phases. Bennett Rosenthal often addresses the matter in his writings. “In bad phases, however, she threatens to shake investors, because it loses the courage and thinks: Oh dear, nothing more can be heard here, the system has failed and are obviously no longer able properly to take advantage of the current market”. Are even occasionally doubt Now we have the chance again smooth without loss. No offense”. Annoyed he will have in the subsequent strong upward.
The shaking effect can therefore also arise from boredom. Would it have been better in the past few years, to reduce the risk? Uwe Geyer: I can emphasize one often enough: profits are not made in the mental comfort zone. It is to access not always profitable 10 pips and to be satisfied, because you can chalk up the profit. Small gains a tremendous hit rate is necessary to produce the average trade, beating the charges. In the Internet, prospective customers run many models with high hit rate on the way. Let’s take for example a system with a target of 5 pips and a stop-loss mark-20 pips. If the average trade now from 1.8 pips, trade can be profitable only if nobody more gets them in the way and also the broker waives his fees.
Production unit McMullen has more oil and gas-bearing strata than expected; more holes in order Stuttgart given, June 30, 2010. Again, the Stuttgart-based issuing House and energy company energy capital invest could close a Fund in record time. EUR 40 million investor money and thus the maximum volume of placement could thereby for the US oil and gas Fund VII KG”with investors be raised. The Fund invests in the extraction of oil and gas from the production units McMullen 1 and 2, as well as other mineral extraction rights in Texas, one of the most productive regions of the United States. The initially planned minimum placement of EUR 19 million was been fulfilled at lightning speed”, so the recognised industry information service capital – market internally. With many benefits for the investors. Because now other mineral extraction rights in the sought after area of McMullen could be bought by the fund company in addition to the second hole, which significantly improves the opportunity / risk diversification. Click Jeremy Tucker to learn more.
In addition, the investment ratio due to the better was Distribution of Fund-related cost increases. Thus, the energy capital invest is continuing its successful series and placed her seventh funds only about two years already. A promising success log-in in the McMullen production unit was done during the placement period. It showed that in the McMullen project the energy capital invest significantly better and even more oil and natural gas-bearing layers exist, than initially expected. We expect significantly higher yields from the McMullen project, as originally calculated”, says Managing Director Kay Rieck also energy capital invest. Because the first estimates of this log-in data indicating that these are significantly higher than the assumptions adopted in connection with the calculation of the offer. Regardless of the value of mineral extraction rights has multiplied by the successful log-in now’, says Rieck.
Just institutional investors or energy companies, to the Stuttgart-based underwriter wants to primarily sell its sources, offer”high prices for production units with proven production. The management of the energy capital invest among the pioneers who could back up into the Texas hotspot at an early stage, mineral extraction rights, with an area of approximately 32,000 acres (about 130 square km) and the still at attractive prices. “Energy capital invest is undoubtedly one of the first mover in this region”, Rieck explained the energy specialist. For investors joined the Fund consisted from beginning to full investment protection, since that the management was very early joined with corresponding purchases in advance. Already in a few weeks the outrider of Stuttgart will present its next Fund, in which the safety potential is further strengthened. You wanted first of all not known give details. This one clings to the investor-friendly model with short duration of taxable income high up on the reservation of the progression. Again, the Fund provider in advance will occur and thus significantly reduce the risk for investors. We assume that we should again can put a further Fund in autumn this year, what will consolidate our current position in the market of specialty supplier of U.S. Energy Fund”, as the founder of Rahim. More information:
Schrempp no insider information was to behold. Only in the decision of the Supervisory Board of 28 July 2005 this would have arisen, which by the Daimler AG but immediately released. This decision, the Supreme Court had lifted and remitted to the OLG Stuttgart in 2008. Then the OLG in a second proceeding came to the decision that at the earliest the decision-making of the Executive Committee of 27 July 2005 is inside information subject to the publication of. It is decisive whether the future event which has seen here by the OLG Stuttgart in the decision of July 28, 2005, was sufficiently likely. Single intermediate steps were not significantly and therefore not taken into account. The German Federal Supreme Court again has stayed the proceedings and submitted to the Court of the European Union (CFI). Because it is crucial for assessing whether intermediate steps must be considered in a temporally extended procedures.
Since 13 WpHG, which defines the concept of insider information, is originated as a Union policy, the intention of the European legislator must be considered. It was necessary therefore to clarify the question, whether a future fact when precise information is, and whether one can assume with reasonable probability, that this circumstance will occur, or whether proceedings stretched intermediate steps, which already exist, can be precise information within the meaning of the directive. The Court of the European Union has decided that also circumstances in an infected process may apply the directive as precise information in order to. Then, the BGH in implementation the execution of European colleagues has lifted the second procedure and remitted to the OLG Stuttgart. The conversation between Prof. Schrempp and the Kopper, the Chairman of the Board is already on May 17, 2005 to therefore as information subject to publishing. It is valid for the OLG Stuttgart now to check whether the required course relevance was WpHG 13, so, to what extent the public announcement was likely significantly to affect the price. It can be summarized, that with information on the whereabouts of Board members carefully to be addressed must and in case of doubt, public disclosure should take place.
The link of the operation with future events is crucial. Here, no overwhelming likelihood is more needed, but the Supreme Court, requires only that is to be expected rather occurs as with a lack of General experience. A failure message may constitute to a compensation for damages according to 37B WpHG otherwise. Bundesgerichtshof, decision of April 23, 2013 – II ZB 7/09 contact: Bernd rechtsanwalts GmbH Wilhelm-Weber-str. 39 37073 Gottingen phone: + 49 (0) 551 495 669-0 fax: + 49 (0) 551 495 669-www.bernd-rechtsanwaelte.de manages the Bernd rechtsanwalts GmbH with locations in Dusseldorf, Gottingen and Hannover 19 and represents companies, initiators, financial institutions and investors in all aspects of economic and capital market law. Focus in particular the concept of capital market products and here on the corporate and project finance, Creation of prospectuses as well as the financial services and capital market law, in particular in connection with the enforcement and defense of claims and disputes with BFin.
Courage to the investment in a new class of ACE set before years hardly anyone in Germany knew the concept of NPL. Through public debate and also by now in the economy that has changed quickly an own business. NPL are loans and advances to customers, which are sold by banks, building societies and insurance companies. The purchase price is this the maximum 3% of the nominal value of unsecured claims, and between 10% and 30% for unsecured claims. Now of course many people ask themselves: “Why should it be a business for others?” It’s simple. Until it comes to a NPL, most years. The situation between creditors and debtors is procedure, the time of the compromise or agreement possibility long past. Of course also the KWG limits close some possibility of settlement with the debtor”.
Quite different to the new creditor: this has a profound interest in an agreement with the debtor, the only way he earns his money. The debtor sees here soon his chance “to get out of debt” and this for a sum which is substantially lower than the actual debt. So a ROI (return on investment) can be quickly from a “title”. Especially recommended are our funds with secured claims. Liens are available here. Here, everyone gets the best possible security on its invested capital. We deem extremely interesting and profitable business unit.
But beware! There are experienced and non-experienced providers in the industry. The members of the National Federation of credit purchase and servicing e.V. (BKS), are recommended here. Is the provider member of this Association, it will certainly be called serious.
Specialist solicitors compensation for MPC ship fund investors prevail in the Fund MPC open fleet – MS “Santa B vessels” GmbH & co. KG-invested investors in the years 2006 and 2007 over 177 million. Whether she will see anything again from this money, written in the stars. Because with his 14 ships, the Fund is in economic difficulties. The revenue fall far behind the forecast assumptions, the loan return has ground to a halt, distributions are not possible. The total loss of their deposit threatens investors lack prospects for an increase in Charter revenue.
Claims for damages due to incorrect advice and prospectus errors on behalf of clients who participate in the Fund, we have the prospectus of the Fund MPC open fleet – MS “Santa B vessels” GmbH & co. KG – tested and we believe that both brochure defects and faulty investment advice found. Both justified claims for damages. Only 70% of the investor money flowed into the ship investment the prospectus must be according to the case-law determine the Bundesgerichtshof without large amount can be what part of the capital raised by the investors valuable flows into the ship investment and consumed what part of not investment purposes, so-called soft costs. This point also the advisor who recommends the system. The prospectus of the Fund “MPC open fleet”-MS “Santa B vessels” GmbH & co. KG – does not contain such a statement. Only through separate calculations this can determine.
The result terrifying from investors point of view: 30% of the to be applied by investors Kommanditkapital incl. premiums was spent on soft costs. Only 70% actually flowed into the purchase of vessels. 26.5% of investor money flowed in sales commissions Bank Advisor must indicate the Kickback case-law of the Bundesgerichtshof always, which commissions their bank or savings bank, receives for providing a Fund share. Non-bank Adviser must according to the case-law of the Bundesgerichtshof expressly point out, if the share of distribution costs on by investors applied capital more than 15%.
Agreed Charter can charterer 4 platform providers pay no more bad news for investors in the year 2008 about 30 million in the four HCI platform provider PSV, Hellespont daring, PSV Hellespont dawn, PSV Hellespont defiance and PSV Hellespont drive have invested. The charterer, the Sanko steamship from Japan, is in serious economic problems. Threatens the total failure and thus the total loss to investors. Charterer the Sanko steamship in payment difficulties as the information service fund telegram reported on March 17, 2012, Sanko had invited his business partner to a crisis meeting on March 16. It was to the precarious financial situation of the charterer, the competitive pressure and the low freight rates on the international markets of the ship make difficult to create. Reportedly Sanko to March at all shipowners already have unilaterally reduced the Charter rates and announced for April, not the contractually agreed payments. Ships with new Charter contracts probably not break even to operate the Charter contracts to seven years set should be probably become obsolete in the face of this development. Because either is all parties by Sanko of a reduction of the Charter rates approved by, or the Japanese company will apply for protection from creditors.
This would mean that for the four HCI platform provider PSV Hellespont daring, PSV Hellespont dawn, PSV Hellespont defiance and PSV Hellespont drive new charterer should be found. In the current market situation with devastating low Charter rates, it will be difficult to get contracts, which can allow the a cost covering operation of vessels. Ships were also so far not break even it is noteworthy that all four ships in the current account balance 2010 already have repayment arrears. Also operating costs available up to 1/3 on plan are in addition to lower Charter revenue and travel surplus fallen lower than planned, cause. In the episode generated liquidity enough already with the Charter contract with Sanko steamship not out to drive the four platform suppliers break even. This also explains why the scheduled distributions so far were not done.
While it’s probably rather not because, as HCI writes in the balance that it has kept the money, as it says in the HCI performance for 2010, to establish a liquidity reserve. You look closely at the balance, it is noted that the shipping company surplus, so that drove in with the ships before interest and repayment generated result at each of the four ships cumulatively fell by commissioning until end 2010 at around 50% behind the plans. Compensation for investors many investors the HCI platform provider PSV Hellespont daring, PSV Hellespont dawn, PSV Hellespont defiance and PSV Hellespont drive have their investment after the consultation to participate probably otherwise imagined. For most, the risks that arise now, will be completely new and surprising. However would be given about these risks before the Investment decision must be informed. This was not the case, the investment advisor are liable for damages. You want to know whether you as an investor an HCI platform provider can assert claims for damages? Call me, I will gladly help you. Nittel Firm specializing in banking law and capital market law your contact Alexander Meyer, lawyer Heidelberg: Hans-Bockler-Strasse 2 A, 69115 Heidelberg phone: 06221 915770 Fax: 06221 9157729 Munich: residential street 25, 80333 Munich Tel.
Thing value secured investment with State guarantee and Euro security Stuttgart, 27.02.2012. After successful placement of ten public investment funds, in about four years, the underwriter energy capital invest now offers the US oil and gas Fund XIII KG with a unique new system concept a wider investor audience. Last year the Stuttgart had already successfully placed a private placement with similar investment focus and conceptual design. The Fund invests in the region of Cook Inlet in Alaska and here again in the extraction of petroleum and natural gas. Due to his extraordinary energy situation, the State of Alaska Bohr-and exploration activity in previously unknown ways subsidized: In the Cook Inlet region drilling and exploration costs are subsidized in part with up to 100 per cent, to help ensure the basic provision of the inhabitants of the State oil and gas. In this particular case, Alaska has even legally laid down the subsidies. Above all the State subsidies for the Cost of exploration and development of the necessary infrastructure are prescribed, the free transfer of property rights, as well as the primary operation of the investors from the expected profits of the exploration and production in Alaska offer maximum security. To reflect the latest economic developments, also a euro hedge was provided.
The thirteenth participation is also a real short term. The US oil and gas Fund XIII KG should be resolved again to 31 December 2014. As already in the previous fund investors achieve tax-free profits of up to 14 percent per year in accordance with design, up on the reservation of progression, in Germany. The US oil and gas Fund XIII KG with a volume of 25 million euro equity fund is designed as a pure. 15,000 euros, plus five percent agio, investors can participate in oil and gas Fund XIII KG the US.
Again is also an early artist bonus of up to five percent nominal grant, which will be paid in September 2012 already. The maximum calculated profit percent 39 years in about 2 half. Also in the US oil and gas Fund XIII KG the energy capital invest has once more in advance and has the Fund indirectly beneficial part ownership of the exploration unit Alaska 2 “provided. “The necessary rights was notarized registered with the competent Courthouse” registered (comparable to the German land register Office for real estate). “Because of uncertainties about the future existence of the euro as the single currency in Europe, a protection of the investment in the amount of the investment amount of the raw materials is oil” and natural gas “admitted. In addition the fund capital is secured by the one-off subsidy system in Alaska to more than 50 percent, because the exploration costs 65 percent will be reimbursed with a roughly six-month trailing alone. But above all to make the outstanding results of the first hole out of the US oil and gas Fund XIII KG a unique and safe investment. So 13 eligible layers were identified at the first hole, which have a natural gas reserve of around 1 trillion cubic feet of natural gas. With the US oil and gas Fund XIII KG, the energy capital invest realized a completely new and unique on the German equity market investment concept that itself indicates that in addition to attractive investment fundamentals, as a successful two-digit return immediately by several security aspects. “” “The determinants for investment high return” high security “offer no opposition so more”, says Kay Rieck as Managing Director of energy capital invest.