How to maintain the authorisation of your fund

We will advise you which documents and what data have to be filed in which form and when with the Swiss authorities and investors.

As a representative, we take care of both the filing with the Swiss Financial Market Supervisory Authority and publications in the Swiss Official Gazette of Commerce and other publication organs. We will also proofread your marketing documents and advertisements to ensure that they respect the Swiss laws and regulations.

Financial reports:

Both the annual and the semi-annual reports have to comply with Federal law and the Swiss Fund Association (SFA) guideline on transparency. According to the law, the representative is obliged to submit the annual and semi-annual reports to the Swiss Financial Market Supervisory Authority (FINMA). The annual report is to be filed within four months of the annual closing with the FINMA, the semi-annual report within two months of the semi-annual closing. The reports are submitted with the FINMA checklists, which have to be signed by the representative. The SFA guideline sets out the required calculation method of the Total Expense Ratio (TER) and the Portfolio Turnover Rate (PTR), which both have to be inserted into the reports.

Modified prospectuses:

If the prospectus in the jurisdiction of domicile is modified, the Swiss prospectus also has to be amended by consequence. Such modified Swiss prospectuses have to be approved by the Swiss Financial Market Supervisory Authority, and a notice needs to be published in the publication organs determined in the Swiss prospectus.

Price publications:

It is a legal requirement to publish the net asset values of a fund each time they have been calculated.

Statistical data on the Swiss fund market:

Up until December 2007, the end of quarter data showing the volume of assets collected in Switzerland by each fund and, if an umbrella fund, each sub-fund, had to be presented in a form set down by the Swiss National Bank. The data had to be with the Swiss National Bank within 20 calendar days of the end of the quarter. This requirement has been discontinued. We await a new set of requirements during 2008.

The Swiss Federal Banking Commission and the Swiss National Bank may request other information on an occasional basis.