Glossar

Die Sprache der Finanzwelt ist oft unverständlich. Wir möchten, dass Sie uns verstehen. Wichtige Begriffe rund um Kapitalanlagen im Allgemeinen und geschlossene Fonds im Speziellen erläutern wir in unserem Glossar.

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Closed-end fund

A closed-end fund is a form of capital investment that, under the condition of an investment asset defined by the fund, usually has a defined investment volume and a defined term. At the core of the business model is typically a project- and property-related, fixed-term investment, primarily in tangible assets (e.g. property, aircraft, ships, renewable energy projects, etc). The number of investors is thus limited. As a rule, investments can only be made during a certain period of time (placement period). The fund is then closed - in contrast to for example shares or open funds. Closed-end funds are usually organised as GmbH & Co. KG (limited partnership with a limited liability company as general partner). The acquirer of a share in a closed-end fund becomes an entrepreneur (usually a limited partner) and assumes all the opportunities and risks. Shares in a closed-end fund can largely be sold or acquired on the secondary market once the placement period has expired. Depending on the asset invested in, these funds are closed-end aircraft funds, property funds, photovoltaic funds, wind funds, renewable energies funds, ship funds, private equity funds, timber funds etc. Closed-end funds can be offered as retail funds, funds for institutional investors or private placements.