Authorizations
Under the AMA, the FMA authorizes asset management companies. The FMA has the statutory power to grant, amend or revoke licences. Asset management companies under the AMA are investment firms under MiFID and are entitled to provide the following services for individual clients as well as collective investment schemes.
- portfolio management
- investment advice
- reception and transmition of orders
- execution of orders on behalf of the client
- financial analysis for securities
Asset management companies are not the management company of the collective investment schemes and they are not allowed to accept or hold client money.
-
Instruction •Vermögensverwaltungsgesellschaften nach VVG •VVG
FMA Instructions 2017/1
Instructions on establishing an asset management company (0.28 MB)
-
Instruction •Banken •Wertpapierfirmen •Versicherungsunternehmen •Vermögensverwaltungsgesellschaften nach VVG •Hypothekarkreditrichtlinie •VVG •VersAG •VVO •Solvency II-Richtlinie •BankG
FMA Guidelines 2017/20
Prudential assessment of qualifying holdings (0.28 MB)
Crossborder activities
Asset management companies may provide their services in other EEA Member States based on notifications between national competent authorities (so called "EU passport").