Switzerland Hedge Fund Services 2015

Tue, 24/02/2015 - 19:14

New regulations are allowing hedge fund managers and institutional investors to take advantage of fresh opportunities in the Swiss market, from innovative new fund platforms to new fund strategies and structures that provide significant portfolio diversif

The 'Switzerland Hedge Fund Services 2015' special report comprises 11 separate articles listed below, these can be read individually or as a sequence.
James Williams, Hedgeweek

Managers face Swiss Legal Representative requirement

Tue, 24/02/2015 - 20:22

The sands of time are running out for hedge fund managers wishing to continue distributing their funds to Swiss investors. As of 1 March 2015, any foreign hedge fund looking to raise assets in Switzerland from qualified investors will be required to appoint a Swiss legal representative and paying agent.  »

Beat Blattner, Head Representative Services, UBS Global Asset Management.

Regulatory compliance and confidentiality are key considerations when choosing a legal representative

Tue, 10/03/2015 - 17:14

As of 1 March 2015, it has become mandatory for fund managers distributing their products in Switzerland to commission a Swiss legal representative and paying agent. Regulatory compliance is the name of the game when it comes to the service provided by UBS.  »

Gian Luigi Trucco, Swiss Association of Fund Managers

Assessing the evolution of the Swiss funds industry

Tue, 24/02/2015 - 20:32

Interview from Lugano, Switzerland’s third financial centre, with Gian Luigi Trucco, Swiss Association of Asset Managers… With revised CISA in place and the introduction of the Swiss legal representative, how do you assess the current climate in the Swiss funds industry? »

Leila Khazeneh, Jabre Capital Partners

Harmonisation with EU standards is crucial

Tue, 24/02/2015 - 20:36

“One of the most important considerations for us when choosing the legal representative was that they had a strong compliance structure,” affirms Leila Khazaneh (pictured), general counsel at Jabre Capital Partners, one of Switzerland’s most established hedge fund managers.  Khazaneh says that the service provider they settled on was an independent specialist whose team have a legal and auditing background, as opposed to a firm with more of a marketing and fund distribution bias.  »

Nicolas Rousselet, Unigestion

Alternative beta strategies can enhance HF allocations

Tue, 24/02/2015 - 20:40

Over the last few years the S&P 500 Index has gained approximately 65 per cent, while the Nikkei 225 has gained 113 per cent. The impact of quantitative easing has led to unparalleled growth in equity markets, to such an extent that hedge funds have largely lagged behind.  “In our opinion it’s not just “raw” underperformance but a combination of underperformance and fees. This is leading investors to ask, “Why do I pay so much to receive so little?” says Nicolas Rousselet (pictured), Managing Director and Head of Hedge Funds at Unigestion.  »

Steven Bulko, Lombard Odier Investment Managers

Focus heavily weighted to US equities markets

Tue, 24/02/2015 - 20:51

Interview with Steven Bulko, CIO, 1798 Fundamental Strategies, Lombard Odier Investment Managers… Equity markets are close to or at their historic highs. How do you see the big picture for equity investors? »

ius Fritschi, Managing Partner at LGT Capital Partners

Swiss managers’ 2015 outlook for hedge fund investments

Tue, 24/02/2015 - 20:56

Overall, last year was a positive year for hedge funds in the sense that assets continued to grow, to the point where the industry reached USD2.8trn in total AuM. However, from a performance perspective it certainly wasn’t an easy one.  There are three aspects to explaining this. First, the beginning of 2014 saw quite strong market rotation. There were sector rotations in equity markets in March and April, leading to losses in long/short equity funds to the tune of -0.63 per cent and -0.89 per cent according to Barclayhedge.  »

Jan Viebig, Harcourt Investment Consulting

Shift towards investing in liquid alternatives

Tue, 24/02/2015 - 21:00

Liquid alternatives are one of the fastest growing areas of the asset management industry. In Europe, assets grew from EUR36bn to EUR236bn between 2008 and 2014, according to a Deutsche Bank report released last September (entitled From Alternatives to Mainstream Part Two).  By definition, liquid alternatives are dynamic trading strategies that combine the sophisticated, goal-driven strategies of the hedge fund universe with the daily liquidity, transparency and regulatory oversight of mutual funds.  »

Alexandre Rampa, SYZ Asset Management

Hedge funds as zero duration investments

Tue, 24/02/2015 - 21:05

Investors are becoming increasingly aware of the fact that global markets will, at some point, move towards a higher interest rate environment. This will happen at varying speeds depending on the region, with the US and the UK most likely to raise rates before continental Europe for example.  »

Roman Pelka, Montfort Funds

The six steps to funds distribution in Switzerland

Tue, 24/02/2015 - 21:09

“This is not another AIFMD regulation. It is much simpler, much cheaper and fairly easy to implement,” states Roman Pelka (pictured), founder of Montfort Funds, a specialist provider of Swiss fund representation services, when discussing the need to appoint a legal representative.  “The transition period provided to foreign funds to get compliant will end on the 1st of March. Thereafter there will be no way around it, except reverse solicitation but this is not really a viable option for most.”  »

Michael Appenzeller, Fundbase Fund Services

First regulated alternative and HF platform

Tue, 24/02/2015 - 21:14

An innovative new platform has emerged in Pfaffikon, Switzerland that could potentially revolutionise the way investors gain access to global hedge fund managers. The platform is called Fundbase and is the brainchild of Michael Appenzeller (pictured), its co-founder and president. »

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