Our Services
What We Do for Investors
We provide free, independent dispute resolution between investors and BVI member investment fund companies in Germany. All services listed here are strictly informational in nature.
The Investment Funds Ombudsman Service is an information and dispute resolution resource only. We do not provide investment advice, legal advice, or financial guidance. All content on this website is for informational purposes only.
Core Service
Alternative Dispute Resolution (ADR)
Our primary service is the administration of a structured arbitration procedure for disputes between retail investors and investment fund companies that are members of the BVI.
This procedure offers a legally recognised, cost-free alternative to civil court proceedings. The ombudsman examines your complaint independently, considers both parties' positions, and issues a reasoned written recommendation.
For eligible disputes with a value of up to €10,000, the ombudsman's decision is binding on the fund company if you accept it as the investor. For amounts above this threshold, the recommendation carries significant persuasive weight but is non-binding.
Eligibility
Who Can Use Our Service?
Our service is available to investors meeting the following criteria. If you are unsure whether your complaint qualifies, please contact our office for guidance.
Individual Investors
Private individuals who hold units in an investment fund managed by a BVI member company. Both resident and non-resident investors in Germany may be eligible.
BVI Member Funds Only
The fund company involved must be a member of the BVI. We maintain an up-to-date list of member companies. Disputes involving non-member companies fall outside our jurisdiction.
Prior Complaint Required
You must have first submitted a formal complaint directly to the fund company and either received an unsatisfactory response or received no response within a reasonable period.
Time Limits Apply
Complaints must generally be submitted within one year of the date on which you first became aware of the issue. Complaints that are time-barred under German civil law cannot be accepted.
No Pending Court Action
The matter must not be subject to pending or concluded court proceedings. The ombudsman procedure and civil litigation cannot proceed in parallel on the same dispute.
Sufficient Documentation
You should be able to provide relevant documentation, including the fund prospectus, account statements, and correspondence with the fund company relating to the dispute.
Typical Disputes
What Kinds of Complaints Do We Handle?
The following are representative categories of disputes that investors have brought to our office.
| Dispute Category | Description | Typically Eligible |
|---|---|---|
| Incorrect fee calculation | Overcharging of management, performance, or redemption fees contrary to the fund prospectus | Yes |
| Incorrect NAV calculation | Errors in the calculation of net asset value affecting unit price at subscription or redemption | Yes |
| Delayed redemption payment | Fund company failed to process redemption proceeds within the contractually prescribed period | Yes |
| Incorrect dividend distribution | Failure to distribute income or incorrect distribution amounts contrary to the fund rules | Yes |
| Documentation disputes | Failure to provide required investor documentation, including KIDs or annual reports | Yes |
| Investment performance | Dissatisfaction with investment returns or fund manager strategy | No |
| General investment advice | Advice received from a bank or broker regarding fund suitability (regulated separately) | No |
The Procedure
Step-by-Step: The Ombudsman Process
Preliminary Contact with the Fund Company
Write to the fund company's complaints department. Keep a copy of your letter and any response. Allow a minimum of 60 days for the company to respond before approaching our office.
Submit Your Complaint to Our Office
Contact us in writing — by post, email, or via our contact form. Include your name and contact details, the name of the fund and company, a clear description of the complaint, and all supporting documentation.
Admissibility Check
Our office will assess whether your complaint falls within our jurisdiction. We will notify you in writing if a complaint is inadmissible and explain the reasons. This stage typically takes two to four weeks.
Company Response
If the complaint is admissible, we formally notify the fund company and request their written response. Both parties may be asked to provide additional documentation or clarifications during this stage.
Ombudsman's Assessment
The ombudsperson reviews all submissions, applies the relevant legal framework, and prepares a draft recommendation. Both parties are given the opportunity to comment before the final recommendation is issued.
Final Recommendation
The ombudsperson issues a final written recommendation. For disputes up to €10,000, the recommendation is binding on the fund company if you accept it. You are free to reject the recommendation and pursue other remedies.
Frequently Asked Questions
Common Questions About Our Service
Answers to the questions we most frequently receive from investors.