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Switzerland Hedge Fund Services 2014
Switzerland Hedge Fund Services 2014

Thu, 17/04/2014 - 13:26

Switzerland's asset managers and service providers have put together a host of investment and outsourced service solutions for hedge fund managers and investors to ensure their smooth passage under Switzerland's revised Collective Investment Schemes Act (CISA)

The 'Switzerland Hedge Fund Services 2014' special report comprises 10 separate articles listed below, these can be read individually or as a sequence.

Markus Fuchs, Managing Director of the Swiss Funds & Asset Management Association

New regulatory regime augurs well

Thu, 17/04/2014 - 13:40

Right now, hedge fund managers are busy preparing for life as authorised entities under FINMA, the Swiss financial regulator. They have until 1 March 2015 to get their house in order and complete the authorisation process. »

James Williams, Hedgeweek

Regulation and fund distribution challenges in Switzerland

Thu, 17/04/2014 - 14:01

Even though the introduction of regulation into Switzerland under the revised Collective Investment Schemes Act (CISA) has changed the landscape it doesn’t appear to have put off fund managers. Markus Fuchs, Managing Director of the Swiss Funds & Asset Management Association (SFAMA), says that the number of applications for FINMA license shows that more managers (mainly alternatives managers) are establishing in Switzerland “than I expected and that’s encouraging”.  »

Yves Schepperle, Head of Product Development and Representative Services

Legal solution to support fund distribution

Thu, 17/04/2014 - 14:06

One of the key requirements under the Swiss Collective Investment Schemes Act (CISA) is for all foreign fund providers to appoint a Swiss legal representative and paying agent, even for those funds distributed to qualified investors only. The transition period for this new requirement ends on 1 March 2015. »

Alexandre Rampa, co-head of hedge fund investments, Syz Asset Management

Good outlook for liquid and flexible managers

Thu, 17/04/2014 - 14:10

Every hedge fund manager thrives on volatility. Over recent times, central bank intervention has suppressed volatility and generally led to cross-asset class correlation; a nightmare for stock pickers. »

Nicolas Campiche, chief executive officer at Pictet Alternative Investments

Going beyond transparency and reporting

Thu, 17/04/2014 - 14:14

The needs of clients have changed in two clear ways since the end of the crisis, with respect to hedge fund investing, according to Nicolas Campiche (pictured), chief executive officer at Pictet Alternative Investments: the investment approach and service expectations. »

Paul Nicholson, portfolio manager of the Vontobel Fund – Absolute Return Bond

Credit and rates expected to contribute to 2014 outperformance

Thu, 17/04/2014 - 14:17

High price fluctuations with low yields on risk-free investments provide investors with new challenges. Paul Nicholson (pictured), portfolio manager of the Vontobel Fund – Absolute Return Bond, believes his fund has the necessary flexibility to respond to a changing market environment and, for example, to benefit from rising interest rates. »

James Williams, Hedgeweek

Closer investor-allocator alliances recalibrate the investment process

Thu, 17/04/2014 - 14:21

There can be no doubt that regulation is raising the costs of doing business for Swiss hedge fund managers. Any opportunity to consolidate operational costs with their service providers is surely welcome as revenue margins continue to get squeezed. »

Jeffrey Campbell, Head of Sales to Swiss Asset Managers, BNP Paribas Securities Services

Pan-European expertise in depositary banking

Thu, 17/04/2014 - 14:27

The last 12 months have seen BNP Paribas Securities Services continue to expand its depositary banking network across Europe. In November 2013 the group acquired the depositary banking business of Commerzbank in Germany and subsequently saw the firm widen its footprint by announcing the launches of its depositary banking business in the UK, the Netherlands and more recently in Switzerland. The group‘s depotbank network now spans 12 fund domiciles in Europe and three in Asia Pacific. »

Nicolas Rousselet, Managing Director and Head of Hedge Funds at Unigestion

Bringing inclusivity to the investment process

Thu, 17/04/2014 - 14:30

Geneva-based Unigestion has been investing in hedge funds for over 25 years and has seen investor attitudes change substantially over that time. The dominance of institutional money flooding into alternatives is well documented. But whilst fund-of-hedge fund firms appear to have responded quickly to the demand for tailored, segregated solutions, in many cases this has become an oversold and non-personalised process with products pushed into firms’ distribution networks. »

Michael Appenzeller, founder of Etops

Assetbox: one-stop support for managers

Thu, 17/04/2014 - 14:35

Pfaeffikon-headquartered Etops, an independent operational service provider, has combined forces with Deloitte to bring a unique solution to market entitled Assetbox. With Swiss managers now facing the added stress of regulatory compliance, not to mention ongoing operational demands to satisfy institutional investors, the pressure on margins is building. »

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