Tue, May 22, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

The Swiss Funds Association reflects on demanding but successful 2012

Monday, February 11, 2013

Dr. Matthäus Den Otter
Opalesque Industry Update - 2012 proved to be a demanding but successful year for the Swiss Funds Association (SFA). The Association celebrated its 20th anniversary, and focused on the partial revision of the Collective Investment Schemes Act (CISA) and the new asset management strategy.

There was no shortage of challenges for the fund and asset management industry in 2012, with examples including the euro crisis, hesitant investors, and the glut of regulation. In this demanding environment for the financial sector as a whole, the SFA was actively involved in ensuring that the industry increasingly stands together and speaks as one. “It is only with this unity that our concerns will be noticed and taken on board by politicians and the authorities. The particular highlights I would mention from the past year were the successful conclusion of the partial revision of the CISA, and the drawing up of the strategy on asset management. The focus now must be on consistently seizing the opportunities they open up,” said SFA President Martin Thommen.

The SFA also celebrated its 20th anniversary last year. It was founded in Bern in 1992 as the Swiss Investment Funds Association. “The founders laid the basis from which the SFA has grown to become established and recognized both in Switzerland and internationally as the association representing the interests of collective investment schemes and their asset managers,” said Dr. Matthäus Den Otter, CEO of the SFA.

The following themes will be at the forefront for the SFA in 2013:

  • Representing the interests of the fund and asset management industry in influencing the implementation of the partial revision of collective investment schemes legislation (act and ordinances) in supervisory practice, both in terms of regulation and self-regulation
  • Working together with partners on the ongoing development of the strategy for asset management in Switzerland, and positioning the SFA as the representative of the interests of all asset managers of collective investment schemes
  • Focusing lobbying with regard to regulatory and tax matters on upcoming legislative projects, in particular the Swiss Financial Services Act
  • Bolstering the SFA’s platforms (events, specialist committees, communications)
  • Further expanding political relations / lobbying.

As of the end of 2012, there were 7,500 collective investment schemes authorized for public sale in Switzerland (2011: 7,461), of which 1,382 were products under Swiss law (1,403) and 6,118 foreign-law products (6,058). The volume of assets placed in funds authorized by FINMA increased by around 13% to CHF 712 billion (compared with CHF 631 billion in 2011). Fund volumes are thus back at their highs, underscoring the trust clients have in investment funds.

The SFA had two main areas of activity in Switzerland in 2012: the asset management strategy and the partial revision of the CISA. Switzerland should be developed into a leading location for asset management in the coming years. This will give the Swiss financial sector a broader base, supplementing existing business areas and offsetting those that are declining. A joint SBA/SFA working group drew up a corresponding white paper last year highlighting eight areas requiring action: 1. Establish asset management as a brand, 2. Develop and apply standards for asset management; 3. Ensure adequate supervision; 4. Improve market access; 5. Promote the right instruments and structures for asset management; 6. Create an excellent tax environment (including various levies) for investors; 7. Strategically build up infrastructure; 8. Offer specific training.

The activities surrounding the partial revision of the CISA have placed a heavy workload on the SFA over the past two years. In 2012, the focus was on actively contributing to the parliamentary debates. The SFA regards the solution passed by parliament as a balanced compromise between investor protection, market access, and competitiveness. The amendments that were made took on board various points raised by the industry aimed at ensuring that the CISA can make a substantial contribution to strengthening asset management as a key mainstay of the Swiss financial sector.

Board of Directors expanded

In March 2012, Felix Haldner, Partner and member of the Executive Board at Partners Group, was elected as an additional member of the SFA Board of Directors. As a representative of one of the leading asset managers operating independently of banks and insurance companies, he will make a significant contribution toward further strengthening the SFA’s position as a representative of the Swiss asset management industry.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven