L-QIF: A new fund possibility for the Swiss financial industry

As a fund location Switzerland is known for the asset management and the distribution of collective investment funds. As of the end of December 2019 statistics on the Swiss fund market showed a total volume of around CHF1 240.4bn. However Switzerland is not commonly known as the domicile of the fund ie the place where collective investment schemes are set up. In this respect other jurisdictions play a major role due to a more attractive legal framework. Some of the existing types of funds in other jurisdictions do not require the approval of their respective supervisory authorities and can therefore compete on the market faster and more cost-effectively –for instance Luxembourg with its fund type called the Reserved Alternative Investment Fund (RAIF). In order to compete with other countries Switzerland intends to create...