Although there is no entirely uniform definition on the market, asset management can be described as everything which is needed to ensure comprehensive management of real estate in the entire investment cycle. This essentially involves strategic and monitoring tasks, and in certain areas also of course includesexecutive tasks. The transitions and interfaces to the  related functions such as investment management and property management are not clearly defined. Individual elements of the overall range of services are deployed selectively depending on the specific requirement. The asset manager should consider that his role and responsibility is to be a type of “chief administrator” of the property. 

The various functions involved in asset management can be broken down into those functions which relate to the property and those functions which relate to management aspects.