Tundra Fonder finalist of Funds Europe 2015 Awards

November 2015

OpenFunds is pleased to inform that Tundra Fonder is amongst the four finalists for the Funds Europe Awards in the category European Specialist Investment Firm of the Year. This is in our eyes a great achievement for a young firm with a great investment team and we are proud to be a partner and the exclusive distributor of Tundra Fonder in Switzerland.

The following link lists all finalists of the 2015 edition:

View list

Frontier Markets - The Basics

October 2015

Wolfgang Landl
Managing Partner, OpenFunds Investment Services AG, Zurich

Private and institutional investors tend to think of Frontier Markets as unexplored. The economies of these countries are generally in earlier stages of economic development, and their capital markets less mature than Emerging Markets. But an increasing number of Frontier Markets have reached a stage of development that enables investors to participate in strong structural growth. In this paper we provide an overview of equity investing in Frontier Markets, define these markets, discuss important investment themes, historical performance, and the key investment challenges.

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Distribution of foreign collective investment schemes to qualified investors in Switzerland - Q&A

July 2015

Siro Zanovello
Wolfgang Landl
Senior Partner, OpenFunds Investment Services, Lugano
Managing Partner, OpenFunds Investment Services, Zurich

On 1 March 2015, the transitional period for distributors and foreign funds distributed in Switzerland to become compliant with new regulation expired. Participants are now working out how best to navigate and adapt to the new distribution regulatory framework. We thought we would help by putting together a Q&A covering the most-asked questions.

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OpenFunds Investments Services new office address in Zurich

July 2015

Due to major construction work at our previous Zurich location, we have relocated for a period of approximately 12 month to Selnaustrasse 5, 8001 Zurich. The new contact details are:

OpenFunds Investment Services AG
Selnaustrasse 5
8001 Zurich

T. +41 44 500 31 08
F. +41 44 500 31 09
E. This email address is being protected from spambots. You need JavaScript enabled to view it.

Funding UK agriculture’s renewable energy strategy. How investors are turning to non-traditional sectors for income streams.

June 2015

Craig Reeves   Non executive Vice Chairman of OpenFunds and Founder and CEO of Prestige Asset Management Ltd.

Since the financial crisis of 2008, many of the economic factors that have been taken for granted in global investment simply no longer apply. We are living in a new world of risk and opportunity. Austerity and a change in the regulation of the banking sector are having unanticipated consequences on the way businesses are financed and the role banks play in the economy.

Link to article

Guidelines on protocol requirements: FINMA lifts recognition limit.

June 2015

The Swiss Financial Market Supervisory Authority FINMA has lifted the limitation on the recognition of the Swiss Bankers Association’s “Guidelines on the duty to keep documentary records according to Section 24(3) of the Federal Act on Collective Investment Schemes (CISA)”. The guidelines will be examined in detail as soon as the Financial Services Act (FSA) project is at a stage to allow this.

Link to FINMA article

OpenFunds and Tundra Fonder, a Swedish investment manager specialised in Frontier Markets equity, join forces. OpenFunds will act as the exclusive distributor of Tundra Fonder in Switzerland.

May 2015

Tundra Fonder has gained a marketing licence in Switzerland and entered into an exclusive distribution agreement with OpenFunds Investment Services AG. OpenFunds will initially promote two of Tundra’s flagship funds to its investor network in Switzerland.

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Vertrieb von ausländischen kollektiven Kapitalanlagen an qualifizierte Anleger in der Schweiz

March 2015

Lars Schlichting
Siro Zanovello
Wolfgang Landl
  Partner, KPMG, Lugano
Senior Partner, OpenFunds Investment Services, Lugano
Senior Partner, OpenFunds Investment Services, Zurich

Die Schweiz hat ihre Gesetzgebung zum Vertrieb von ausländischen Investmentsfonds in odervon der Schweiz aus mit der Revision des Kollektivanlagegesetzes an die EU-Gesetzgebung angepasst. Die Übergangsfristen die Anbietern ausländischer Fonds gewährt wurden um sich der revidierten Gesetzgebung anzupassen liefen am 28. Februar 2015 aus. Ab dem 1. März müssen alle Fonds den neuen Regelungen konform sein.

Publication: Absolut | report 01 2015

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Swiss Financial Market Supervisory Authority ("FINMA") releases the 2014 Enforcement Report

February 2015

In 2014, FINMA adopted a new enforcement policy setting out the general principles of its approach to sanctioning violations of supervisory law. One of its stipulations is that enforcement should be visible. The report released in February 2015 on FINMA’s enforcement activities in 2014 is part of its efforts to achieve this goal.

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Asset-based finance: an alternative and successful approach on how to stimulate the economic recovery in the UK (Article from l'AGEFI in French)

January 2015

Craig Reeves Non executive Vice Chairman of OpenFunds and Founder and CEO of Prestige Asset Management Ltd.

Many SME’s continue to have difficulties to meet the ever more stringent criteria of the banks to finance their business. Asset-based finance is one of the answers on how to overcome this issue and stimulate at the same time the UK economic recovery. (Article from l'AGEFI in French - January 2015).

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The requirement for and role of Swiss representatives and Swiss paying agents for foreign funds distributed to qualified investors

January 2015

Lars Schlichting
Siro Zanovello
Wolfgang Landl
  Partner, KPMG, Lugano
Senior Partner, OpenFunds Investment Services, Lugano
Senior Partner, OpenFunds Investment Services, Zurich

The regulations on the distribution of funds in Switzerland have changed. Fund providers need to assess their existing or planned distribution activities in Switzerland, and decide if they need to appoint a Swiss representative and a Swiss paying agent. In this article we briefly summarize the requirement for a Swiss representative and a paying agent and terms that apply to the requirement. We then explain the respective roles the representative and paying agent.

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Closed-end funds - How are they affected by the new distribution rules in Switzerland?

December 2014

Lars Schlichting
Siro Zanovello
Wolfgang Landl
  Partner, KPMG, Lugano
Senior Partner, OpenFunds Investment Services, Lugano
Senior Partner, OpenFunds Investment Services, Zurich

Under the amended Swiss Collective Investment Schemes Act (‘CISA’) open-ended funds need to appoint a Swiss Representative and a Swiss Paying Agent. It is less clear what is required of closed-end funds.

We reckon the answer to this question can be found by starting with the overriding objective of the new regime, which is to strengthen investor protection and rights.

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Distribution of foreign collective investment schemes to qualified investors in Switzerland - The basics

November 2014

Lars Schlichting
Siro Zanovello
Wolfgang Landl
  Partner, KPMG, Lugano
Senior Partner, OpenFunds Investment Services, Lugano
Senior Partner, OpenFunds Investment Services, Zurich

In September 2012 the Swiss Parliament passed amendments to the Swiss Collective Investment Schemes Act (CISA). In February 2013 the Swiss Federal Council adopted an amendment to the Collective Investment Schemes Ordinance (CISO) that effectively completed the process of turning the revised CISA into law. While both enactments came into effect on 1 March 2013, transitional provisions have been in place to allow marketers of foreign collective investment schemes enough time to adjust to the new regulations. By 28 February 2015 all market players must be in compliance with the new regulations. This article focuses on the impact of the revised CISA and CISO on the distribution of foreign collective investment schemes in Switzerland and from Switzerland to qualified investors as defined by CISA and CISO.

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Legal representative services

Roger Stoffel

Distribution services

Siro Zanovello

General enquiries

Olivier Lehmann

Zurich Office

Seefeldstrasse 35
8008 Zurich

Phone: +41 44 500 3108

Lugano Office

Via S. Balestra 27
6900 Lugano

Phone: +41 44 500 3109

Geneva Office

rue de la Cloche 8
1201 Geneva

Phone: +41 44 500 3175