Regulatory framework

Mon Sep 29, 2008



Collective investment rules offer a flexible legal framework

 

Shelby R. du Pasquier and Fedor Poskriakov, Lenz & Staehelin

 

In the last few years, alternative investments and hedge funds in particular have become part of the standard asset allocation process in the Swiss private banking business as well as for many Swiss institutional investors, including insurance companies and, to a certain extent, pension funds. This is the case even though, given legal and regulatory constraints, hedge funds still may only be distributed in Switzerland by way of private placement exclusively to “qualified investors”. Notwithstanding the recent overhaul of the Swiss legal framework applicable to collective investments, two major obstacles remain in practice to the development of a domestic hedge fund market.

 

The Swiss market

Introduction

Switzerland is an important player in the alternative investment area, especially for hedge funds. By international standards, Switzerland has only played a minor role...

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