Investor Protection
Legally mandated measures to separate functions serve to protect the invested assets and thus to protect our investors.
For example, fund assets are qualified as special assets, which are not owned by the asset management company or depository bank, but always remain in the ownership of the unitholder and are thus separate from the assets of the management company, the depository bank and the other funds of the management company.
Moreover, a depository bank is commissioned with storing the securities that belong to a fund, with managing the accounts for the fund and with disbursing and redeeming the investment units. Accordingly, safe-keeping of the securities is separate from Raiffeisen KAG, which is responsible for managing the invested assets. Calculation of the value of the fund is also carried out by the depositary bank and is one of the central elements in the division of powers. This ensures proper calculation and settlement.
With regard to their unitholders, funds are subject to particularly stringent requirements in respect of transparency and disclosure. The net asset value of the fund is published on a daily basis for retail funds. Unitholders receive comprehensive information on their fund(s), in the form of a complete and a simplified sales prospectus (containing information on the company itself, a description of the investment goals, the profile of a typical investor, data on costs and fees), an accounting report and a semi-annual report, which provides specific information on the performance of the fund in the reporting period.