• The principle of accurate consulting
• Duties in detail
• Responsibilities of the asset manager in principle
• Breach of contract
• Damage
• Causation
• Indicators of faulty asset management

The principle of accurate  consulting

The asset manager is responsible for the true and accurate exercise of his duties towards the client. He is bound to implement any asset management according to his client`s guidelines.

The duty of care is defined by objective criteria:  The benchmark is set at how an average, conscientious asset manager would carry out his duties. The benchmark in respect to professional knowledge is raised once the asset manager exercises his duty as a career and charges a fee, which is the norm.

The liability of the asset manager is initiated by careless and disloyal exercise of his duties which results in harming the investor.

However, the asset manager is not responsible for the investment`s lack of success, which the client hoped to be successful. If the asset manager carries out a careful and complete analysis of the client`s requirements and thus suggests a reasonable investment strategy, he would neither be responsible for any negative market developments nor for the fact that the client did not make a profit or even lost money.