Deutscher Mittelstandsanleihen FONDS: There are growing indications that the management company IPConcept made mistakes. When will DZ Privatbank S.A. finally comment on its role in the surprising liquidation of the fund?

The surprising decision of IPConcept S.A. on 14.06.2023 to liquidate the German Mittelstandsanleihen FONDS is making ever higher waves. From the beginning, market participants have criticised the unprecedented solo attempt by IPConcept S.A. and the custodian DZ Privatbank S.A. to send the fund into liquidation. IPConcept S.A. had neither consulted the responsible bodies from the fund management, nor had it even ensured the further risk management. What are the motives for this "departure through the back door"? 

The latest findings indicate that IPConcept S.A. is at least trying to divert attention from its own past mistakes with this surprising liquidation. The role of DZ Privatbank S.A. is still unclear. The investors who had invested their money in the fund are demanding clarification.   

 Dr Wolfgang Schirp, Berlin, whose law firm Schirp & Partner represents more than 100 private and institutional investors in the fund: "Our research has shown that IPConcept S.A. has not fully and properly complied with its reporting obligations to the Luxembourg financial supervisory authority CSSF for several years. Closing documents and management letters for the years 2020 to 2022 are missing, and the required documentation for the liquidation date of 14 June 2023 is also not available, at least not completely. These are very unusual omissions, which one is not used to from a professional management company and which also do not cast a good light on the custodian bank."   

Dr. Wolfgang Schirp continues: "So far we have only received a very empty, formalistic answer from IPConcept S.A.. DZ Privatbank S.A. has not yet explained itself at all about the events. We will not let this rest, but will continue to clarify the facts. Claims for damages against these two institutions are still pending, depending on our further research results."

For further information, please contact: Dr. Wolfgang Schirp, Schirp & Partner Rechtsanwälte, Leipziger Platz 9, D - 10117 Berlin, Tel. 0049-30-3276170, mail: , URL: