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By Eduard von KYMMEL, Head of VP Fund Solutions*
World Fund Day will be marked for the seventh time in Germany and Austria on 19 April. The background to this date is the birthday of the Dutchman Abraham van Ketwich, who was born precisely 275 years ago.
Birth of the investment fund
After a number of British banks were forced into bankruptcy by bad loans in the British colonies, the Amsterdam-based merchant van Ketwich encouraged numerous investors to acquire units in a form of investment fund. It was in 1774 that he brought numerous investors together to buy units in this investment fund for the first time.
Money gathered from these public investors was subsequently invested in a...
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