Universal-Investment is looking to expand its operations in Switzerland by cooperating with independent Swiss asset manager Reuss Private on the joint creation of mutual funds (private label funds) for Swiss asset managers and family offices.
Christian Rauner, head of Private Label Funds & Services at Universal-Investment regards the tie-up with Reuss as a logical step. "For decades Universal-Investment has been the central platform for independent asset managers in the German-speaking area,” he says. “With the new tax treaty concluded between Switzerland and Germany there are interesting prospects for Swiss asset managers and mutual funds in the German market."
The sale of Swiss funds to Germany will be made significantly easier and previous obstacles to approval are removed as a result of this agreement. The deal recently reached between Switzerland and Germany will increase the need for Swiss asset managers to find appropriate fund solutions for the German and European market. Particuarly, according to Rauner, in the context of not losing any ground to Swiss banks and competitors.
Based in Bremgarten near Zurich, Reuss Private AG is an entrepreneurial, independent asset manager for demanding clients. Reuss Private will support Universal-Investment in winning other asset managers in Switzerland for the products offered by the investment company, which is based in Frankfurt am Main and Luxembourg. This will primarily include the creation and administration of so-called private label funds.
Founded in 2000, the company provides services in asset management and planning, asset security and corporate finance in collaboration with external partners such as product providers and custodian banks. Reuss’s clients are first and foremost professional asset managers, family offices and private investors with special requirements.
Dr Adriano Lucatelli, managing partner of Reuss Private, says: "Thanks to our collaboration with Universal-Investment we can offer independent asset managers access to top-level expertise in the field of private label funds. Their many years’ experience, excellent quality of service, high level of flexibility and absolute independence make Universal-Investment the ideal partner for us and our clients."
For many years now Universal-Investment has been working with Swiss wealth and asset managers and private banks such as Bank Sarasin, Holinger Asset Management or Finiens Wealth Management. Added to these are German or international asset managers which have built up a presence in Switzerland (e.g. Acatis Investment, Earth Resources Investment Group and StarCapital). The total assets managed by the partners based in Switzerland in Universal-Investment’s private label funds come to around EUR2 billion.
The cooperation with Reuss Private is part of the intensified international orientation by Universal-Investment: Since 2011 there has been an exclusive cooperation in the USA to encourage managers of alternative investments and hedge funds to establish so-called Newcits funds in Europe. As one of the leading platforms in Europe the investment company at present administers over three billion euros from German and international asset managers and investment boutiques.