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Under strict adherence to the principles of separation of risk and portfolio management in terms of the structural organisation, the COO division is primarily responsible for risk management and risk controlling for assets and company levels. It also covers the maintenance of associated procedures and systems – commensurate with regulatory requirements. These include, among others, the Kapitalanlagegesetzbuch, KAGB (German Capital Investment Code) and KAMaRisk (Minimum Requirements for Risk Management of management companies).
 
In addition, the division supports and monitors the adherence to standards of good and responsible corporate governance (e.g. BVI Wohlverhaltensregeln – BVI code of conduct).

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Risk Management

Centralised Support for Business Divisions

Alongside portfolio management, risk management is the second core function of a capital management company. To that end, risk management is established independently of portfolio management on an organisational level as well as the market unit acquisition and sale. This is how independence can be guaranteed at any time.
 
This division has years of experience in the utilisation of integral risk management systems for open-ended real estate funds and has already assisted in the implementation of InvMaRisk in a professional advisory capacity. The risk management system is reviewed and developed on a regular basis to ensure it meets changing requirements. Nowadays, as well as open-ended real estate funds and real estate special funds, the system also includes credit special funds, umbrella funds and private equity funds. The companies within this division are completely integrated in DekaBank‘s risk management and controlling systems.
 
Risks are managed on a divisional and product level. We have developed comprehensive, fully integrated management and risk reporting which comprises the division and funds level. This enables the strategic and operative risk as well as results and product management to operate within the framework of a single, integral reporting instrument.
 
Risk management is involved in all decisions affecting the risk profile, for example in the form of institutionalised statements for real estate transactions in terms of a second vote. A significant component of risk management is the calculation of a so-called ‘real estate risk’ on the basis of potential developments from things such as rental contracts, property locations or types of use. The degree of creditworthiness for existing business relationships in this context is regularly monitored.

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Governance & Regulatorik

Corporate Governance

Deka Immobilien Investment GmbH and the WestInvest Gesellschaft für Investmentfonds mbH regard proper corporate governance as the creation and compliance of basic principles and value systems for good management practices. This also includes self-control and a high degree of transparency.
 
Functional management and monitoring structures, protection of various groups‘ interests (stakeholders), targeted collaboration of company management and supervision, transparency in the organisation as well as in internal and external company communication and appropriate handling of risks are hallmarks of proper corporate governance. This applies to both capital management companies as well as alignment of management decisions that yield a long-term added value to the satisfaction of our partners, in particular, our investors.
 
Targeted implementation is characterised by diverse individual measures. This includes the composition of the Board of Management with a member who is independent of corporate affiliation, the creation of an ombudsman, functional risk management yet also the guarantee of investor protection through clear separation of functions among jurisdictions. By the same token, investors of our special assets are regularly informed on the basis of one of the highest transparency standards in the open-ended real estate funds regarding the progress of their special assets.
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Deka Immobilien actively participates with both capital investment companies with regard to the preparation and further development of basic principles and regulations for open-ended real estate funds as well as real estate assets per se. To this end, we are involved with various institutions, interest groups and organisations, and co-operate with numerous committees and task forces on many current and relevant topics. You can find a selection of these under “Memberships”.

Rules of Conduct

The Bundesverband Investment und Asset Management e.V. (BVI), the association for investment fund management companies and investment funds has formulated the rules of conduct, which primarily target German capital management companies. These rules are also adopted at Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH. The BVI Code of Conduct formulate a standard of proper and responsible operation with investors’ capital and rights. The rules outline how capital management companies are to meet their obligations towards investors and how they represent their interests to third parties.

Purpose of the Rules of Conduct

Deka Immobilien Investment GmbH aims to expand the BVI Code of Conduct by means of reliability, integrity and transparency, foster the trust of investors and the public and fulfil their increasing information requirements. The implemented BVI Code of Conduct are intended to guarantee a high standard of quality for company product and service offerings. The rules of conduct oblige the group to ensure functional organisational structures and procedures relevant to their structures and business activities as well as training of their employees. Additionally, the company distributes its funds exclusively with distributors or and cooperating distribution partners which guarantee reliable and diligent distribution terms and transfer of information.
You can find more detailed information here (in German).

Memberships

Overview of our Memberships

We are a member of various interest groups and organisations and are committed to their investors and investments as well as their sector interests.

Bundesverband Investment und Asset Management (BVI)

The German Investment Funds Association BVI represents the interests of investment fund management companies. Its 95 members manage around 2.6 billion euros in UCITS (OGAWs), AIFs and investment management mandates. Member societies in BVI directly or indirectly manage assets for approximately 50 million individuals in around 21 million households. The German Investment Funds Association BVI is the contact body for politics and supervision of all topics concerning the Capital Investments Code. BVI is the lobby for funds companies vis-à-vis politics and regulators on a national and international level. It is the competence centre and advisor for the development and application of regulatory stipulations, the main contact for politics, management and media for all enquiries regarding capital investment regulation, the mediator between the investment industry and politics, and the forum for interaction within the industries.
 
Better General Conditions for Investors:
BVI is committed to better general conditions for investors. Through the use of educational activities and tips for private investors, the organisation supports citizens in making sensible financial decisions.
 
The Real Estate business division and its capital investment companies are represented in diverse committees of the BVI, including pension provisions, EU and international issues, real estate committees, communication, sustainability, law and compliance, risk management and performance, taxes and balances, and distribution.

to the German Investment Funds Association BVI

German Council of Shopping Centers (GCSC)

This is the only nationwide advocacy group for the retail real estate market. There are more than 750 members coming from development and analysis, financing, centre management, architecture, retail real estate, retailers and marketing sectors. Together, they provide the optimum networking basis for commercial property operators.
 
We use this platform to discuss shopping centre and centre management issues with industry experts.

to the GCSC

IHK Frankfurt and Düsseldorf (Chamber of Commerce and Industry-CCI)

We are compulsory members of CCI in both cities.

to IHK-Frankfurt

to IHK Düsseldorf

Initiative Corporate Governance

As a corporate member, we act on the initiative to include other leading companies in the real estate industry, to which many prominent industry representatives as well as personal members belong. The initiative set the objective of developing and establishing basic principles of transparent and professional corporate governance within the real estate industry.
 
As a result, the Corporate Governance System for Deka Immobilien GmbH received certification.

to Initiatives

Zentraler Immobilien Ausschuss (ZIA - German Property Federation)

ZIA is the regulatory and economic policy group for the entire German real estate industry. It promotes and supervises appropriate measures for the maintenance and improvement of the economic, legal, fiscal and political environment for the real estate industry.
 
The Real Estate division and its capital management companies are represented in diverse committees of the ZIA, including balancing and evaluation, education and research, Europe, financing and tax, trade and municipalities, sustainability, energy, environment, law, and urban development.

to ZIA - German Property Federation