New Swiss focus on asset management
Developing the Swiss asset management brand and resiliency to the same degree as the country’s banking sector is a key focus at both the Swiss Funds Association (SFA) and the Swiss Banking Association (SBA).
The Swiss Funds Association, which celebrated its 20th anniversary last year, is to change its name to the Swiss Funds and Asset Management Association (SFAMA) effective from 1 July 2013, while the Swiss Bankers Association has declared its intention to develop Basel as “a leading location for asset management”.
An SBA statement said: “In order to ensure that the required work progresses quickly, Peter W Grünblatt has been appointed head of the Asset Management Initiative at the Swiss Bankers Association.”
The SFA decision was taken at the latest annual general meeting. President Martin Thommen said it expresses key strategic objectives, with asset management an “utmost priority” in addition to a traditional focus on the funds and collective investment schemes business.
Since 2011 the SFA has concentrated on implementing partial revision of the Collective Investment Schemes Act (CISA), lobbying on regulatory matters and expanding its function as a platform for members and the public.
Following the partial revision of the Collective Investment Schemes Act (CISA) and the setting up of the Swiss Key Investor Information Document (KIID) in 2011, both supported by the SFA, the focus turned to the Directives on Alternative Investment Fund Managers (AIFM) and Undertakings for Collective Investment in Transferable Securities (Ucits), as well as the Foreign Account Tax Act (FATCA).
SFA CEO Matthäus Den Otte said the overall strategy is to continue to develop the Swiss Asset Management sector, concentrating lobbying on forthcoming legislation such as the Swiss Financial Services Act.