Investment Funds and Mutual Funds in Austria are divided in three categories by the Austrian tax authorities: black, white and blossom white (Blütenweiss).

The difference between white and black is that the white funds report their returns to the Federal department of finance  of Austria via an Austrian representative like an Austrian bank or Trustee,

A fund that has blütenweiss status reports, in addition to that, retained capital gain taxes, and/or  EU source taxes on capital gains being withhold from investors, to the Central Control Bank of Austria (OeKB) on  a daily basis.

This makes a blütenweiss fund very transparent to Austrian investors and the controlling bodies of the country and  has a far more credibility then a white or black fund.

Wolfgang Brand