On January 31, 2024, the Federal Council has published the final implementing provisions to the Collective Investment Schemes Act (“CISA“). As a result, a new category of funds, reserved for so-called qualified investors under CISA, will be available to the Swiss asset management industry as of March 1, 2024. As a reminder, the Limited Qualified Investor Fund (“L-QIF“) is an innovative fund type which is exempt from any authorisation, approval and product supervision by the Swiss Financial Market Supervisory Authority (“FINMA“). It offers significant flexibility in terms of investment policy and restrictions. The ultimate goal is to increase the innovative capacity and attractiveness of the Swiss asset management market on the model of similar structures in foreign jurisdictions, such as the Reserved Alternative Investment Fund (RAIF) in Luxemburg.
Read more
