Der Limited Qualified Investor Fund (L-QIF) – Ein neuer Stern am Schweizer Fondshimmel?

The Swiss Federal Council (Bundesrat) recently submitted a bill to Parliament to amend the Collective Investment Schemes Act in order to introduce a new Swiss fund category – the Limited Qualified Investment Fund (L-QIF). Inspired by Luxembourg’s Reserved Alternative Investment Fund (RAIF), the L-QIF, other than the existing Swiss fund products, shall be exempt from FINMA approval and supervision. This allows a short time to market for such products. In addition, the L-QIF shall have maximum freedom to determine its investment and risk diversification policy. The new products are, therefore, ideally suited for alternative and innovative investment strategies.

At the same time, the Federal Council wants to ensure adequate investor protection, namely by limiting the availability of L-QIFs to qualified investors only, and by requiring that L-QIFs are managed only by financial institutions under the supervision of FINMA.

The introduction of the L-QIF to the palette of Swiss fund…