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Kapitalanlagegesetzbuch (German investment code)

Legal framework for investment funds.

The German Investment Code (KAGB, short for Kapitalanlagegesetzbuch), regulates open and closed funds, especially their investment behavior, supervision and organization. Funds may be managed as special funds (the common legal form for mutual funds), investment corporations whose shares can be bought by investors, or as Investment-KGs (Investment limited partnerships). In 2013, the Investment Code has replaced the hitherto valid Investment Act.

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