The Swiss parliament and Federal Council will launch a new category of fund that is exempt from authorisation on 1 March 2024.
The Swiss parliament voted to introduce a new fund category, the Limited Qualified Investor Fund (L-QIF), in December 2021 and amended the Collective Investment Schemes Act (CISA) accordingly. The Federal Council will now put these changes into effect on 1 March 2024.
L-QIFs are collective investment schemes that do not require FINMA authorisation or approval and are not supervised by FINMA. To be eligible, these funds must be offered solely to qualified investors and managed by entities that are supervised by FINMA.
The institutions managing L-QIFs are responsible for complying with the L-QIF rules themselves.
To ensure transparency, the fund must be designated on the front…
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