Opalesque Industry Update - Switzerland is aiming to become a leading location
for asset management in the coming years. A joint working group of the SBA
and the SFA today put forward eight areas for action that will provide an optimal
operating framework. Strengthening asset management will put the Swiss
financial centre on a broader footing, complement existing business areas and
make up for those that are in decline. The Swiss financial centre mainly has a reputation for wealth management. Asset management, a key provider of products and services for institutional and private investors, is a business area that has to date received little attention in Switzerland or abroad. Most banks in Switzerland have their own asset management activities, but these are rarely regarded as a stand-alone part of the core business. A 2011 study by the Swiss Bankers Association (SBA) and Boston Consulting Group indicated that the focused expansion of asset management as a business area could boost gross revenue by up to CHF 1.8 billion by 2015.
Objectives in asset management
Eight areas for action
1. Establishing asset management as a brand
A call to all participants SBA CEO Claude-Alain Margelisch comments: "The entire financial centre is backing this initiative to turn Switzerland into a top location for asset management. We hope that Swiss government bodies and regulators will support this. By doing so, we will put the financial centre on a broader footing, minimise systemic risks and create opportunities for the future." Markus Fuchs, Senior Counsel at the SFA, explains: "Collective investments, especially funds, are key building blocks for asset management, along with other traditional and alternative investments ranging from equities to real estate and commodities. These are appropriate instruments for managing wealth. Hence, the fund business must also be suitably promoted in future."
Low-risk and requiring little capital backing
The full white paper can be downloaded from www.swissbanking.org and www.sfa.ch 03.12.2012 - Swiss Funds Association welcomes cooperation with ESMA and EU on alternative investment funds Source 26.11.2012 - Opalesque Roundtable Series - Zurich 2012, in which Markus Fuchs participated Source Bg |
Industry Updates
Swiss financial centre draws out plan to become leading asset management location
Thursday, December 06, 2012
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