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Responsibilities of the asset manager in principle

An asset manager becomes responsible if he carelessly carries out management orders given by the client.

Breaching the asset management contract serves as base for his liability. In addition thereto, the breach, however, has to result in a damage suffered by the client.

From a legal point of view the following accumulative elements give rise to liability:

  • Breach of contract;
  • Damage;
  • Causation between breach of contract and damage;
  • Blame, will then be assumed

Only if all preconditions are being met, will the asset manager`s liability be established and an injury suffered by the investor may be enforced with legal assistance.