Bringing you live news and features since 2006 

Bringing you news, views and analysis since 2013
Incorporating Wealth Adviser from 2023

SFA president Martin Thommen

Swiss Funds Association welcomes approval of AIFM Directive

RELATED TOPICS​

The Swiss Funds Association has welcomed the European Parliament’s decision to pass the EU Directive on Alternative Investment Fund Managers.



The SFA says that compared with the draft presented in April 2009, the directive in its present form contains two significant improvements from the Swiss perspective.

Under the AIFM Directive there remains the possibility for portfolio management and/or risk management for an alternative investment fund established in the EU to be delegated to a Swiss-domiciled manager, provided the latter is subject to FINMA supervision.

In addition, Swiss asset managers may at a later date acquire authorization in respect of marketing in one or more EU member states, or even an EU passport. For this, however, they must comply with comparable requirements to those applicable to EU managers.

Switzerland will also have to meet certain conditions, such as concluding supervisory cooperation agreements and double taxation treaties (OECD 26).

“At this juncture, we believe this will be achievable. This will also require certain amendments to the Collective Investment Schemes Act, which the SFA actively supports. The Swiss authorities responsible should now implement the necessary measures as quickly as possible in close cooperation with the industry associations,” says SFA president Martin Thommen.

“Even under the AIFM Directive, our country remains an attractive location for asset managers from the hedge fund and private equity sectors. For this, however, Switzerland’s advantages as a third country must be harnessed with regulation that remains pragmatic and is oriented towards the reduced need for protection among institutional investors,” adds SFA chief executive Matthäus Den Otter.

Latest News

Morningstar has published its latest monthly overview of European ETF and ETC flows, showing the market gathered EUR37.1 billion in..
Tradeweb writes that on the European platform, trading activity reached EUR69 billion in September, the second-highest level recorded for the..
SEI has announced it has entered into an agreement with Intercontinental Exchange, Inc. to leverage ICE ETF Hub, an open..
Optiver has expanded its market-making activities into autocallable ETFs, beginning with WisdomTree listings referencing large cap indices such as the..

Related Articles

Pedro Palandrani, Global X
Active ETFs are grabbing the headlines, but sophisticated indexes can make bigger portfolio bets—and add more genuinely different exposure—than some...
Jay Hatfield, Infrastructure Capital Partners
A fundamental strategy for Infrastructure Capital Advisors is to produce income, says Jay Hatfield, CEO and CIO of the firm...
Mara Dobrescu, Morningstar
Europe’s ETF savings-plan boom has never faced a sustained bear market at its current scale. Recent buy-the-dip behaviour offers encouragement,...
Survey
Q2 data show advisers adding ETFs at a faster pace even as new launches face hurdles to win shelf space....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by