Master-feeder funds
0532-en RE430 Financial Market Law As of 11.07.2026
In master-feeder structures, several funds (feeders) invest their assets in a common master fund; since the feeders hold only units of the master, they have no diversification of their own. In Europe the structure has been permitted since UCITS IV (2011): the feeder must invest at least 85 per cent of its assets in a single master; the master is always a UCITS, is itself never a feeder and may not hold units of another feeder.
Deutsch
Master-Feeder Funds 0532-de
Bei Master-Feeder-Strukturen investieren verschiedene Fonds (Feeder) ihr Vermögen in einen gemeinsamen Master Fund; da die Feeder nur Anteile am Master halten, fehlt ihnen eine eigene Diversifikation. In Europa ist die Struktur seit UCITS IV (2011) zugelassen: Der Feeder muss mindestens 85 Prozent seines Vermögens in einen einzigen Master investieren; der Master ist stets ein OGAW, selbst nie ein Feeder und darf keine Anteile eines anderen Feeders halten.
Suggested citation
Master-feeder funds (0532-en), in: LAWPEDIA®-Glossar, provided by LAWCONSULT AG, www.lawconsult.ch/lawpedia/en/master-feeder-funds, as of: 11.07.2026 [accessed on …].
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