Second Act Implementing Shareholders’ Directive (ARUG II)

Inyova is a brand of Inyova Impact Investing GmbH.

Inyova falls under the definition of an asset manager within the meaning of section 134a (1) no. 2 of the German Stock Corporation Act (AktG) and must therefore describe its participation policy under the meaning of section 134b of the German Stock Corporation Act (AktG).

  1. Shareholder rights within the meaning of § 134 b para. 1 no. 1 AktG:
    Inyova exercises shareholder rights for active participation in the company at selected companies in which corresponding shares are held. This includes, among others, the exercise of voting rights at general meetings of public limited companies as well as other shareholder rights (e.g. election proposals). The right to a share in profits within the meaning of §§ 60ff. AktG as well as subscription rights are exercised in consultation with the clients.
  2. Monitoring of important matters of the companies in the meaning of § 134b para. 1 no. 2 AktG:
    Inyova actively monitors the affairs of the companies in its investment universe with regard to strategy, financial and non-financial performance and risk, capital structure, social and environmental impact and corporate governance. This is done, among other things, by reviewing the companies’ legally mandated reporting in financial reports as well as ad hoc announcements and through various data providers on sustainability issues.
  3. Exchange of opinions with the corporate bodies and stakeholders of the company in the meaning of § 134b para. 1 no. 3 AktG:
    Inyova strives for a constructive dialogue with selected companies in which corresponding shares are held, in particular to promote their value preservation and sustainable development within the firm. The dialogue is aimed at, among others, the management and supervisory boards of the public limited companies and may also include speeches at general meetings.
  4. Cooperation with other shareholders in the meaning of § 134 b para. 1 no. 4 AktG:
    In principle, Inyova is open to various forms of cooperation with other shareholders if this is conducive to the preservation and enhancement of value in the sense of sustainable development at the respective companies.
  5. Conflicts of interest within the meaning of § 134b para. 1 no. 5 AktG:
    In the event of a conflict of interest, disclosure is made to the parties concerned in accordance with the required legal provisions and a clarification of the further procedure is made with them.

Inyova will publish the implementation of the participation policy within the meaning of § 134b para. 2 AktG on this website annually from 2022 onwards.

In addition, the voting behaviour within the meaning of § 134b para. 3 AktG, insofar as it has taken place, will also be published on this website from 2022 onwards.

Please find more details in our Engagement and Voting policy

Complaints management

Inyova places a high emphasis on providing the best possible service at all times. For this reason, we consider it important to allow all customers and potential customers the opportunity to express criticism. With the following explanations, we would like to inform you of our complaints management system along with the handling process of any complaints.

Complaints are here understood to mean any expression of dissatisfaction expressed by a customer or interested party to Inyova in conjunction with the provision of an investment service or an ancillary investment service.

We require the following details in order to allow us to investigate and, if necessary, rectify a complaint:

  • Your name and contact details
  • Complaint period
  • Request description, indicating date, amounts and other useful information
  • Proposal to rectify the matter

Complaints can be submitted in the following ways

By letter
Inyova Impact Investing GmbH
Taunusanlage 8
60329 Frankfurt

How complaints are handled

We begin processing complaints as soon as they reach us. Acknowledgements of the complaint are issued within 5 working days of the complaint being submitted. If, due to the complexity of the matter, it appears that the handling process will take longer, the customer will be informed and the reasons for the delay explained within the above-mentioned period. The complaints handling process is free of charge.


Our response will include the details and the result of our investigation. We would also be happy to discuss the outcome with you personally.


We will immediately remedy any deficiencies in our organisation in order to prevent a repetition of the grounds for complaint.

Dispute settlement proceedings for private investors

Customers can call the consumer arbitration board set up by the Federal Financial Supervisory Authority (BaFin) or bring action before the civil courts. The consumer arbitration board set up by the BaFin is responsible for disputes related to financial services according to section 1 (1a), sentence 2 of the German Banking Act between consumers and supervised companies according to the German Banking Act.

The application to conduct dispute settlement proceedings must be submitted to the arbitration board’s office in writing, briefly describing the facts of the case and including the documents needed to understand the dispute (e.g. correspondence, contractual terms, cost calculations):

Conciliation Board at the Federal Financial Supervisory Authority (BaFin)
Department ZR 3 Graurheindorfer Straße 108, D-53117 Bonn

0228 / 4108-62299

Customers may also submit such an application by email:

Competent supervisory authority

Federal Financial Supervisory Authority (BaFin)
Graurheindorfer Straße 108, 53117 Bonn and
Marie-Curie-Str. 24-28, 60439 Frankfurt am Main

+49(0)228 4108-1150

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