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Vergütungssysteme im Fondsmanagement und deren Folgen

Vergütungssysteme im Fondsmanagement und deren Folgen


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About the Book

Studienarbeit aus dem Jahr 2008 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,3, Gottfried Wilhelm Leibniz Universität Hannover (Institut für Geld und Internationale Finanzwirtschaft), Veranstaltung: Behavioral Finance und Asset Management, Sprache: Deutsch, Abstract: Vor dem Hintergrund weltweit steigender Finanzmarkttransaktionen und einer wachsenden relativen Bedeutung des professionell angelegten Vermögens nimmt die Relevanz des Fondsmanagements stetig zu. Im Auftrag des Kunden investiert die Fondsverwaltung dessen Gelder in bestimmte Anlageformen und ermöglicht somit, insbesondere auch für kleinere Beträge, eine Risikodiversifizierung und professionelle Auswahl der Titel. Der Investor zahlt für diese Leistungen eine Gebühr. Diese Vergütung kann sowohl eine fixe, erfolgsunabhängige als auch optional eine variable, erfolgsabhängige Komponente enthalten. Wird neben dem erfolgsunabhängigen auch ein erfolgsabhängiger Anteil gezahlt, so spricht man von der sog. Performance Fee. Durch die jeweils gewählte Vergütungsart entstehen spezifische Anreize, die Auswirkungen auf die Handlungen der Fondsmanager haben. Im Folgenden wird zunächst die Beziehung zwischen dem Investor und dem Fondsmanagement erläutert. Anschließend werden die beiden Vergütungsformen, die erfolgsunabhängige und die erfolgsabhängige, dargestellt. Daraufhin werden die aus der Wahl der Vergütungsform entstehenden Anreize und deren Folgen auf die Handlungen der Portfoliomanager aufgezeigt. Abschließend erfolgt eine zusammenfassende Beurteilung.


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Product Details
  • ISBN-13: 9783640234387
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 3 mm
  • Width: 148 mm
  • ISBN-10: 3640234383
  • Publisher Date: 19 Dec 2008
  • Height: 210 mm
  • No of Pages: 56
  • Series Title: German
  • Weight: 136 gr


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