FUND REPRESENTATION IN SWITZERLAND

WHAT DO WE DO?

We provide the representation services for funds addressing both qualified and non-qualified investors.

The Swiss Collective Investment Schemes Act (CISA 120) concerns foreign fund providers distributing in Switzerland to qualified and non-qualified investors.
Those funds are required by law to appoint a Swiss representative and a paying agent and must ensure correct legal documentation is in place and that it remains up to date.

What is defined as distribution?

Any offering of or advertising of collective investment schemes that is not exclusively directed at regulated qualified investors.
Distribution activities include, but are not limited to:

  • Sending any materials by email to existing or prospective investors
  • Road shows and presentations in Switzerland
  • Participation at conferences, sponsored events or any other kinds of events that offer the possibility present foreign funds and/or their strategies
  • Internet and web commerce publicity
  • Unsolicited phone calls and telemarketing

What are the investor groups?

The law makes a distinction between qualified (regulated and non-regulated) investors and non-qualified investors and they are treated differently.
The investor groups are defined as follows:

  • Regulated Qualified: banks, insurance companies, regulated CISA asset managers (those that manage +CHF100M). Selling to this group is not considered distribution.
  • Non-regulated Qualified: pension funds, independent asset managers, HNWI and family offices. Providing any info to these is defined as distribution and requires appointing a Swiss representative and paying agent.
  • Non-Qualified: all other investors (this means retail). In addition to a Swiss representative and paying agent, the fund requires a specific FINMA approval.

Oligo is one of the few Swiss registered representatives accredited to represent funds addressing both Qualified and Non-Qualified investors.

Addressing Qualified Investors

Once you appoint Oligo as your Swiss representative to address Qualified investors, the following onboarding process begins:

You provide us with the required documents for the due diligence process.

Our analysts perform their due diligence checks.

We arrange for your payment agent service.

The contracts with Oligo and with the paying agent are signed.

An appendix is added to your Offering Memorandum to include Swiss-specific wording mentioning the Swiss representative and paying agent.

Your fund is ready for distribution to Swiss Qualified investors.

Average time for the onboarding process: 2-3 weeks.

Addressing Non-Qualified Investors

Once you appoint Oligo as your Swiss representative to address Non-Qualified (retail) investors, the following onboarding process begins:

You provide us with the required documents for the due diligence process.

Our analysts perform their due diligence checks.

We arrange for your payment agent service.

The contracts with Oligo and with the paying agent are signed.

The supervising authority of the country of domiciliation provides an original signed fund certificate.

The fund prospectus (memorandum), the KIID, the annual and semi-annual audited reports are translated and presented to FINMA.
An appendix is added to The Memorandum mentioning the Swiss representative and paying agent.

Specific fund documents are signed by: the fund, the custodian, and the administrator and sent to FINMA for approval.

FINMA requires up to 1 month to check and approve all documents.

The fund is authorized by FINMA and may be distributed to Swiss Non-Qualified (retail) as well as Qualified investors.

Average time for the onboarding process and FINMA approval: about 2 months.

Switching Swiss representative

If you already have a Swiss representative and you want to switch to Oligo’s platform, click the buttons below to learn how painless the process is.

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SIX Swiss Exchange building, Zürich
SIX Swiss Exchange was the first stock exchange in the world to incorporate
a fully automated trading, clearing and settlement system in 1995.