Legal Guidelines
Legal Facts
Declaration of consent
By accessing this website, you agree to the Terms of Use. Before using this website, you should read our 1) Terms of Use and our 2) Cookie and Privacy Guidelines carefully.
The website is intended solely for Switzerland and the investor type that you have chosen. If you are domiciled in another country or fall into another investor category, please sign into the relevant country and investor type area. If you access this website, you must comply with the respective applicable legal regulations and the Terms of Use below.
By accessing our website, you confirm that you have carefully read and agree to the relevant Terms of Use. If you do not understand any of the provisions in the Terms of Use or do not agree to a specific provision, we ask that you leave the website.
Please note that the services, product information, opinions, documents, and functions described on this website (hereinafter the “website”) serve solely as points of reference and merely constitute a general presentation of our products and services. This information is not exhaustive, may change over time and Generali Investments Switzerland Ltd. (hereinafter referred to as “Generali Investments Switzerland”) may update this information at any time and without prior notice.
If the use of this website leads to a legal relationship between the user and Generali Investments Switzerland, this relationship shall be subject to and construed in accordance with Swiss law.
The entire contents of the website are protected by copyright law, all rights are reserved. This website may not be used or reproduced for any public or commercial purpose without the prior written permission of Generali Investments Switzerland.
Information relating to Generali Investments Switzerland
Legal form and field of activity
Generali Investments Switzerland Ltd., Soodmattenstrasse 10, CH-8134 Adliswil (CHE-101.528.126), is a company limited by shares under Swiss law with registered office in Adliswil. The primary purpose of the company is to conduct fund business, especially creating, managing, and administering Swiss collective investment schemes and providing associated services permissible for a fund management company.
Regulatory status
Generali Investments Switzerland is licensed by the Swiss Federal Financial Market Supervisory Authority (FINMA) as a fund management company in line with the Swiss Federal Act on Financial Institutions (“FinIA”; SR 954.1). The business activities of Generali Investments Switzerland are subject to ongoing oversight by FINMA.
The contact information of FINMA is as follows:
Eidgenössische Finanzmarktaufsicht FINMA
Laupenstrasse 27
CH-3003 Bern
Tel.: +41 31 327 91 00
Website: finma.ch/de/contact
Ombudsman’s office
Under the terms of the Swiss Financial Services Act (“FinSA”; SR 950.1), disputes relating to legal claims between customers and the financial service providers subject to the FinSA should, where possible, be settled as part of a mediation process led by an ombudsman's office. Financial service providers as defined by the FinSA must therefore affiliate themselves with an ombudsman’s office.
Generali Investments Switzerland has affiliated itself with the following ombudsman's office:
Ombudsstelle Finanzdienstleister (OFD) (CHE-402.512.193)
Bleicherweg 10
CH-8002 Zürich
Tel.: +41 44 562 05 25
Email: ombudsmann@ofdl.ch
Website: ofdl.ch/
Access and restrictions
This website contains information relating to collective investment schemes (funds) managed by the Swiss fund management company Generali Investments Switzerland under Swiss law – i.e., our “GENERALI funds”. All GENERALI funds listed on this website are offered exclusively in Switzerland and are not accessible to people domiciled or resident outside of Switzerland. Therefore, GENERALI funds cannot be sold, offered or delivered outside of Switzerland.
Access to the information contained herein may be limited by certain laws and regulations. This information constitutes neither an offer to sell nor an offer to buy to any person forbidden from accessing the website of Generali Investments Switzerland under the laws of their place or country of residence or domicile. Such persons are prohibited from accessing this website.
Neither Generali Investments Switzerland nor any of its contracting partners can offer any assurance or guarantee that the information published on this website is correct, up to date, accurate or complete. The information on this website does not constitute an investment recommendation. Investment opportunities contain risks that could include the loss of the invested capital. If you are unsure or have any questions, please contact a financial advisor. Under no circumstances can Generali Investments Switzerland be held liable for any losses, or direct or indirect damage suffered as a or consequential damages as a result of this information.
Investments in GENERALI funds should be made only after a thorough examination of the current sales prospectus. For more information on GENERALI Funds, please read the current sales prospectus including the fund contract, the basic information sheets (BIBs) and the annual and semi-annual reports that are available free of charge on request from the fund management company Generali Investments Switzerland Ltd., Soodmattenstrasse 10, CH-8134 Adliswil. and can be accessed at any time on the website of the Generali funds publication medium at swissfunddata.ch.
Specifically, this website is not intended for use by residents or citizens of the United States of America or “US Persons” within the meaning of “Regulation S” of the US Securities and Exchange Commission as defined under the US Securities Act of 1933. The term “US Persons” is defined below. The “US Person” refers to: (a) any individual resident in the United States of America; (b) any partnership or company limited by shares founded or registered under applicable US law; (c) any asset (or “Trust”, the executor or manager of which is a US Person; (d) any Trust the trustee for which is a “US Person”; (e) any agency or branch of a non-US legal entity domiciled in the United States of America; (f) any non-discretionary account (with the exception of assets or Trusts) managed by a financial intermediary or other authorised representative founded or (in the case of individuals) resident in the United States of America; (g) any discretionary account (with the exception of assets or Trusts) managed by a financial intermediary or another authorised representative, regardless of whether they are registered in the United States of America or (in the case of individuals) resident there; and (h) any partnership or company limited by shares, if it (i) was founded under the law of a country other than the United States of America and (ii) was founded by a US Person primarily for the purpose of investing in transferable securities not registered in accordance with the US Securities Act of 1933 as amended, unless it was founded and registered and is held by “accredited investors” (as defined in “Rule 501(a)” of the US Securities Act of 1933 as amended) that are not individuals, assets or Trusts. This restriction also applies to residents and citizens of the United States of America and “US Persons” who visit or access this website while travelling or who are resident outside of the United States of America.
COOKIES POLICY
Effective from 30/06/2023
Generali Investments Holding S.p.A. (hereinafter referred to as "Generali Investments" or "Company"), with registered office in Trieste, at Via Machiavelli 4, intends to provide, as the data controller, information to users (hereinafter referred to as "you" or "your") of the website www.generali-investments.com (hereinafter, the "Site") regarding the use of cookies on the Site.
If you wish to contact the Company or to exercise a right regarding the processing of your personal data,, you can use:
the postal address: Generali Investments Holding S.p.A., Via Machiavelli 4, 34132 Trieste, or
the email address: privacy.GIH@generali.com.
For any questions or to exercise a right regarding the processing of your personal data, you can contact our Data Protection Officer at the following contacts:
by regular mail at the address: Generali Investments Holding S.p.A., Via Machiavelli n. 4, 34132 Trieste, attention to the Data Protection Officer, or
by email at the address: DPO.GIH@generali.com.
Generali Investments may change this cookie policy from time to time, also following any changes to the applicable regulations. The latest updated version of the document will always be available for consultation on the Site.
Definitions
Cookies are typically text strings that websites (so-called publishers or "first parties") visited by the user, or different websites or web servers (so-called "third parties"), place and store within a user's terminal device (so-called "active identifiers"). On each subsequent visit, the browser sends these cookies to the site that originated them or to a different site.
Storing certain information through cookies enables users to navigate online easily and quickly and constitutes the processing of personal data.
Cookies have different characteristics and are used for different purposes. They can be distinguished based on the following three criteria:
A. The entity that installs them:
· First-party cookies: Installed directly by the company that owns the visited website, through the website itself.
· Third-party cookies: Installed, through the visited website, by third parties other than the company that owns the website.
B. The duration of the period they remain active:
· Session cookies: Cookies that store necessary information during the browsing session and are deleted when the browser is closed.
· Persistent cookies: Cookies stored on the user's hard drive, and the website reads them each time the user reconnects to the site. A persistent cookie has a specific expiration date, after which it stops functioning.
C. The purposes pursued:
· Technical cookies: Used solely for "the transmission of a communication over an electronic communications network, or insofar as this is strictly necessary for the provider of an information society service explicitly requested by the subscriber or user to provide this service" (cf. Article 122, paragraph 1 of Legislative Decree 196/2003 and subsequent amendments). To be installed, they do not require consent as they are strictly necessary for the functioning of the sites.
· Analytical cookies: Used to obtain statistical information, generally in non-aggregated form, about the number of users accessing one or more sites or using them. To be installed, they require consent as they are not strictly necessary for the functioning of the sites.
· Profiling cookies: Used to track the profiles of site users to display advertisements on visited sites that may be of interest due to alignment with the tastes and consumption habits of different users. To be installed, they require consent as they are not strictly necessary for the functioning of the sites.
Similar functions can be performed by other tools that, while using a different technology (so-called "passive identifiers"), allow for treatments similar to those carried out through cookies.
Types of Cookies Used by the Site
Generali Investments' website uses both technical cookies and analytical cookies from both first and third parties.
Generali Investments does not aim to track individual users or identify them, but primarily uses cookies to obtain useful information about the ways in which the site is used, with the goal of constantly improving user experience.
In any case, it is possible to avoid the installation of cookies by modifying the settings of the browser in use, as explained in the relevant menu, which is different for each browser. To understand how to set cookies, it is recommended to consult the instructions of the most commonly used browser providers, available at the following links:
Chrome: Chrome Cookie Help Page
Firefox: Firefox Cookie Help Page
Edge: Edge Cookie Help Page
Safari: Safari Cookie Help Page
Alternatively, you can visit the website www.aboutcookie.org for a comprehensive guide on setting cookies in a wide range of desktop browsers.
A. Technical Cookies
Generali Investments uses technical cookies solely for the purpose of allowing you to visit the site and use its various functions. Specifically, the company uses:
Navigation cookies: Ensure the normal use of the site and are generally session cookies that are automatically deleted when the browser is closed.
Functionality cookies: Allow you to navigate the site based on a set of selected criteria (such as language or country of origin) to improve the use of the services offered by the site. These are persistent cookies that remain on your computer even after the browser is closed until their expiration date (typically ranging from two months to two years) or until you delete them.
Technical cookies are used exclusively for the purposes described in this paragraph. The site uses the technical cookies listed below.
The installation of technical cookies does not require your prior consent because it is strictly necessary to ensure the correct functioning of the Site.
B. Third-Party Analytical Cookies
The Site uses analytical cookies from Google Analytics, allowing the Company to collect statistical information, exclusively in aggregated form, about the usage of the Site, such as the number of users accessing it and the most frequently visited pages.
The analytical cookies from Google in use do not allow the identification of users since the IP address associated with the cookie is anonymized before being sent to Google. The entire IP address is never collected or stored on either Google's systems or ours.
Below is a list of the analytical cookies currently used by the Site.
The installation of third-party analytical cookies requires your prior consent. To this end, when you access the Site, a banner is displayed informing you that the Site uses third-party analytical cookies. By clicking "Accept," you are providing your free and informed consent to the installation of these cookies. The Company will track your consent through a specific technical cookie, ensuring that consent is not requested again on each subsequent visit to the Site.
You can block the storage of analytical cookies at any time without affecting your ability to visit the Site. To learn how to block the storage of analytical cookies, you can read information about third-party cookies by clicking on the links provided in the table above.
C. Marketing Cookies
The Site uses marketing cookies (also known as targeting cookies) to track users visiting the Site, aiming to present relevant and engaging advertising to individual users, which consequently holds more value for publishers and third-party advertisers.
Below is a list of marketing cookies currently used by the Site.
The installation of marketing cookies requires your explicit consent. To this end, when you access the Site, a banner is displayed, informing you that the Site uses marketing cookies. By clicking "Accept," you are freely and knowingly giving your consent to the installation of these cookies. The Company tracks your consent through a specific technical cookie to avoid asking for your consent again during each subsequent visit to the Site.
You can block the storage of marketing cookies at any time without affecting your ability to visit the Site. To learn how to block the storage of marketing cookies, you can refer to the information on marketing cookies by clicking on the links provided in the table above.
Exercise of Rights:
Even concerning the processing of personal data through the installation of cookies, you can exercise the following rights:
Right of Access: You can ask the Company to access your personal data to find out, for example, which data the Company is currently processing.
Right of Rectification: You can ask the Company to correct personal data that is inaccurate or incomplete.
Right to Erasure: You can request the deletion of personal data under specific circumstances.
You can request the Company to delete your personal data in the following circumstances:
Personal data is no longer necessary for the purposes for which it was collected or otherwise processed.
You have revoked consent to the processing, or there are no other legal grounds for the processing.
You object to the automated processing of your personal data, and there are no other legal grounds for the processing.
Personal data has been processed unlawfully.
Personal data must be erased in compliance with a legal obligation of the European Union or Italy to which the Company is subject.
Personal data has been collected in relation to the offer of information society services.
Right to Restriction: You can request the Company to limit the processing of your personal data in the following circumstances:
You have contested the accuracy of personal data, and you request the Company to limit the processing for the period necessary to verify the accuracy of your personal data.
The processing is unlawful, and instead of deleting the personal data, you request the Company to limit the processing of personal data.
The Company no longer needs to process your personal data for the above purposes, but such data is necessary for the establishment, exercise, or defense of a legal claim.
Right to Data Portability: You can request the Company to transfer the personal data you provided to another company or organization and/or receive your personal data in a structured, commonly used, and machine-readable format.
Finally, if your personal data has been transferred outside the European Economic Area, you have the right to obtain a copy of such data or information about where it has been made available.
These rights can be exercised by contacting the Data Protection Officer at the above-mentioned contacts. The Company will not charge any fees for tasks resulting from your request unless the request is manifestly unfounded or excessive.
Right to Lodge a Complaint:
If you detect irregularities in the processing of your personal data, you have the right to lodge a complaint with the Italian Data Protection Authority (Garante per la protezione dei dati personali). You can find the procedures for submitting a complaint on the Authority's website: https://www.garanteprivacy.it/diritti/come-agire-per-tutelare-i-tuoi-dati-personali/reclamo.
Additionally, you have the right to lodge a complaint with the supervisory authority of the European Union member state where you reside, work, or where the alleged violation is assumed to have occurred. The contact details for the supervisory authorities of the European Union member states can be found at the following link: https://edpb.europa.eu/about-edpb/board/members_en.
⦁ Third-party analysis cookies
Google Analytics cookies are used on the website. These cookies help to log statistical information in relation to the use of the website, e.g., the number of users accessing the website and the most frequently visited pages.
The Google Analytics cookies used do not enable the identification of individuals because the IP address linked with the cookie is anonymized before it is sent to Google. The full IP address is not logged or stored, either on our or Google’s systems.
Below you will find a list of analysis cookies currently used on the website:
⦁ Marketing cookies
Marketing cookies are used to track website visitors. The purpose of this is to target to the individual user appealing and relevant advertisements that are of significant value to third-party providers and advertisers.
As legally stipulated, the installation of third-party analysis cookies requires your prior consent. For that reason, on being accessed the website will display a banner that informs You (i) of the use of third-party analysis cookies on the website and (ii) that you consent to the use such cookies by clicking on “Accept”.
If you agree to the installation of cookies, we will save this consent using a special technical cookie. This will prevent you from being shown this cookie banner each time you return to the website.
You can block the installation of analysis cookies at any time without compromising your use of the website. If you want to know how to block the storage of analysis cookies, you can read the information about third-party cookies by clicking on the links given in the table above.
You can find more information about your rights and how you can enforce these or how you can contact us in our privacy guidelines.
HNWIs are individuals who credibly declare that:
they dispose, based on personal training and professional experience or based on comparable experience in the financial sector, of the necessary knowledge to understand the risks of investments as well as assets of at least CHF 500,000; or
they dispose of assets of at least CHF 2 million.
I have accepted and understood the above terms and conditions
Data Protection Policy
1. GENERAL PRINCIPLES OF DATA PROTECTION
Protecting your privacy and the security of your personal data is very important to us.
Generali Switzerland is aware of the sensitive nature of using personal data. The data transmitted by you will be treated with the utmost care. Our applications, if you use our Website at generali-investments.ch, comply with data protection regulations.
You will find extensive information on data processing in our privacy statement.
For any questions in relation to data protection, you can contact our Data Protection Officer via e-mail at privacy.ch@generali.com or by post to Generali (Holding) AG, Soodmattenstrasse 2, 8134 Adliswil, adding the addressee “Datenschutzbeauftragter”.
We continually strive to improve our Website so we can offer you the greatest possible convenience during your visit. That is why we collect certain information from visitors to our Website:
2. DATA SECURITY
Please note that the level of protection for data transmitted over the internet is generally not high. The internet is a worldwide and open network, and if you use it to transmit data, particularly data of a personal nature, you do so at your own risk.
As soon as your data is received by Generali Group companies in Switzerland or Liechtenstein, appropriate technical steps are taken to prevent the data from being viewed or handled by unauthorised persons.
Access to personal data is restricted to those Generali employees who can show that they need to use them (in order to provide services in connection with the customer relationship with you, for example). These employees are also trained in the handling of sensitive data.
3. UPDATE
This data protection policy was last updated on 01 September 2023.
General Terms of Use
This website is provided by Generali Investments Switzerland and constitutes marketing communication and financial advertising for the financial products and services of Generali Investments Switzerland. It does not constitute an offer in the legal sense.
If part of these Terms of Use is declared invalid, illegal or unenforceable by a court or any other competent authorities, then this part will be separated from the remaining Terms of Use, which will remain valid and enforceable to the full extent permitted by law.
Changes to the General Terms of Use
The information on this website is updated regularly. The validity of the information on this website is restricted to the time of its publication and our assessment at this time. Generali Investments Switzerland accepts no warranty or liability for the correctness, accuracy, up-to-dateness, suitability, completeness or availability of this website or the information contained therein. Generali Investments Switzerland accepts no liability for losses or damages due to the use of information of this website for purposes other than those intended. Generali Investments Switzerland reserves the right to change, add to or delete the information on this website at any time without prior notice.
Neither an advisory service nor an offer
The information published on this website serves as information and advertising purposes. The information contained on this website constitutes neither a recommendation nor an offer to buy or sell products or enter into other transactions or conclude any legal transaction. Furthermore, the information on this website constitutes neither an offer to sell nor an offer to buy to any person forbidden from accessing the website of Generali Investments Switzerland under the laws of their place or country of residence or domicile. Such persons are prohibited from accessing this website. Nothing on this website constitutes investment, legal, tax or other advice and should not be used as a basis for an investment or any other decision. Using this website does not make you a customer of Generali Investments Switzerland.
Suitability of investment
A fund cannot be suitable or appropriate for all investors. The information of this website takes into account neither the individual circumstances and investment objectives nor the financial situation or specific requirements of investors. The website does not refer to any specific tax treatment. Tax provisions depend on the personal circumstances of each potential customer and may change in the future.
Only investors can decide whether the transactions made by them are appropriate to their financial situation. The tax treatment based on an investment in collective investment schemes as defined by the Swiss Collective Investment Schemes Act (“CISA”; SR 951.31) or in other financial instruments as defined by FinSA depends on the situation of each investor. We recommend that investors consult their respective tax advisors.
Changes to economic, legal or tax framework conditions or other events may influence the future performance of the market or individual products in a manner other than described in the information on this website at any time.
Exclusion of liability
Generali Investments Switzerland accepts no liability for claims in connection with its website. This exclusion of liability also applies to legal errors and/or to any possible non-compliance with the provisions of the law. The user bears all responsibility for the use of the information contained in this website and the risks associated therewith.
Generali Investments Switzerland accepts no liability for the correctness, accuracy, up-to-dateness, suitability, completeness or availability of this website or the information contained therein. Insofar as permitted by law, Generali Investments Switzerland excludes any liability on the part of itself or its directors, employees or agents for direct and/or indirect damages and consequential damages of any kind as well as loss of profits, trading losses or claims and receivables by third parties, be it on the basis of contract or tort law or other legal bases or provisions resulting from or associated with the use of this website (including actions or omissions resulting therefrom as well as the inability to access or use the website), including investments which were made on the basis of the information provided on this website.
Furthermore, Generali Investments Switzerland cannot be held liable for damages which arise from incorrect or inadmissible information, for instance from the spread of viruses or technical errors, interrupted connections, or fraudulent actions by third parties, irrespective of the fact that Generali Investments Switzerland does everything necessary to guarantee the security of this website and to monitor the information disseminated. Accordingly, this exclusion of liability includes Internet malfunctions of any kind (e.g., loss of data, viruses, harmful elements) as well as misuse by a third party (consulting data, copying, etc.).
Access to fund documents
The sole binding basis for the purchase of units in GENERALI funds are the occasionally revised prospectuses, the basic information sheets (BIBs) and the corresponding annual and semi-annual reports (where available) and/or the documents required under the CISA (e.g. fund contract) which are made available prior to an investment decision.
This website does not publish up-to-date sales prospectuses with integrated fund contract, basic information sheets (BIBs) or annual and semi-annual reports for GENERALI funds. However, this website does provide a hyperlink to the website of the publication platform Swiss Fund Data (swissfunddata.ch) for each of the GENERALI funds listed, where the latest fund documents for the respective GENERALI fund are always available free of charge.
The current sales prospectus including the fund contract, the basic information sheets (BIBs) and the annual and semi-annual reports are also available in paper form on request from the fund management company Generali Investments Switzerland Ltd., Soodmattenstrasse 10, CH-8134 Adliswil.
Information relating to performance
Past performance data detailed on the website is no reliable indication of future performance, and may be misleading. Fluctuations in yield may have occurred since said information was published on this website.
Forward-looking statements
This website may contain forward-looking statements. These statements reflect the opinion, view and future expectations, etc. of Generali Investments Switzerland at the time of publication. Actual developments and results may deviate significantly from such forward-looking statements made by Generali Investments Switzerland based on a variety of factors and there is the risk that predictions, forecasts, and projections do not materialize. Generali Investments Switzerland is under no obligation to update or modify such forward-looking statements.
Risk considerations
The value of units of GENERALI funds may rise or fall and there is the risk that you may not recoup the amount originally invested. Investment in any fund entails several risks, including the loss of the invested capital.
The net asset value of some asset classes are subject to a high degree of volatility, which might lead to latent short-term losses on a larger scale.
You can find out more about the inherent risks of funds in the respective latest version of the prospectus, the fund contract, the basic information sheets (BIBs) and the latest annual and semi-annual reports. Please read the sections of the prospectus relating to risks with particular care.
Costs
Please also note the costs and fees of the individual funds and unit classes given in the BIBs and in the prospectus of the GENERALI funds.
Links to other websites
This website may contain links to third-party websites which do not fall under the control of Generali Investments Switzerland. Generali Investments Switzerland has not checked the other websites linked to their website and can neither give any warranty nor assume any responsibility for the content of any such external websites, nor can they be taken to approve, endorse or confirm the information on these external websites or on any sites to which these links. Generali Investments Switzerland therefore accepts no liability for the correctness, quality, completeness and legality of the content or the availability of the linked websites or for services, products or materials offered via any such linked website. Access to linked third-party websites is at your own risk.
Intellectual Property
The entire contents of the website are protected by copyright law, all rights are reserved. All property rights shall remain the exclusive property of Generali Investments Switzerland in any case. The reproduction, transmission (whether electronically or by other means), modification, linking or use of the website, whether as a whole or in part, for public or commercial purposes without the prior written consent of Generali Investments Switzerland, is prohibited.
Generali Investments Switzerland reserves all rights in respect of copyright and trademark rights to all content on this website. The contents of this website and/or individual pages and/or individual parts of the website may be downloaded, copied or printed solely for personal, non-commercial use, provided that neither indications of copyright nor other designations protected by law are removed (something which should not however be interpreted as the granting of a license or entitlement to use an image, trademark or logo).
The information contained on the website is made available by Generali Investments Switzerland exclusively for private use and for information purposes.
The FinSA sets out the requirements for providing financial services and offering financial instruments and its primary purpose is to improve investor protection. The FinSA contains rules of conduct such as information and documentation obligations specifically to achieve this objective.
Generally speaking, a financial service provider must assign the customers for whom it provides FinSA financial services to the following segments: (1) private customers, (2) professional clients or (3) institutional clients. Customer segmentation is not necessary if all customers are treated as private customers.
The level of protection or the procedural obligations to comply with, as the case may be, depend on the relevant customer segment to which an investor is assigned. Institutional clients enjoy the least protection, professional clients a moderate degree and private customers the greatest protection.
For the purposes of this website, the term “institutional customers” refers to the following investors in line with the Financial Services Act:
Financial intermediaries as defined under the Swiss Banking Act (BankG; SR 952.0), the Financial Institutions Act (FinIA; SR 954.1) and the Collective Investment Schemes Act (CISA; SR 951.31).
Insurance companies as defined under the Insurance Supervision Act (ISA; SR 961.01).
Overseas clients subject to prudential supervision such as the individuals referred to above in (a) and (b).
Central banks.
National and supranational public-law entities with professional treasury operations.
Provident schemes and schemes established for the purpose of providing occupational pensions with professional treasury operations, which declare in writing or in any other form verifiable by text that they would like to be classed as institutional clients (opt-out).
Companies with professional treasury operations, which declare in writing or in any other form verifiable by text that they would like to be classed as institutional clients (opt-out).
It is the responsibility of the legal entity accessing the “institutional clients” section of this website to verify its own investor quality and affiliation with this category.
Institutional clients enjoy less investor protection than professional clients or private customers.
For the purposes of this website, the term “professional clients” refers to investors as defined in the FinSA:
Public-law entities with professional treasury operations (which are not national or supranational public-law entities with professional treasury operations).
Provident schemes and schemes established for the purpose of providing occupational pensions with professional treasury operations.
Companies with professional treasury operations.
Large companies (i.e., companies which exceed two of the following variables: (i) balance sheet total of CHF 20 million; (ii) sales revenue of CHF 40 million; (iii) equity of CHF 2 million).
Private investment structures with professional treasury operations set up for high-net-worth individuals (“HNWIs”).1
HNWIs and private investment structures set up for these which declare in writing or in any other form verifiable in writing that they would like to be classed as Professional clients as defined in Art. 5(1) and (2) FinSA and Art. 5 of the Financial Services Ordinance (FinSA; SR 950.11) (opt-out).
Institutional clients, which declare in writing or in any other form verifiable in writing that they would like to be classed as professional clients (opt- in).
Professional clients enjoy less investor protection than Private customers.
It is the responsibility of the legal entity accessing the “professional clients” section of this website to verify its own investor quality and affiliation with this category.
For the purposes of this homepage, the term “private customers” refers to all customers that do not fall into the category of professional clients or institutional clients as defined by the FinSA.
All customers or potential customers that cannot be classed as institutional clients or professional clients under the FinSA will be regarded as private customers under the FinSA in the context of this website.
This is the classification that offers the greatest investor protection and imposes the most requirements in relation to communication, disclosure and transparency.
It is the responsibility of the legal entity accessing the “private customers” section of this homepage to verify its own investor quality and affiliation with this category.
The question as to who is classed as a qualified investor in the sense of the CISA depends, among other things, on customer segmentation under the FinSA. It is not fully consistent with the definition of Professional clients under FinSA. In particular, under Art. 10 (3) CISA, investors that have concluded an asset management agreement or investment advisory agreement with a financial intermediary subject to prudential oversight are also classed as qualified investors under the CISA, but not as professional clients in the sense of the FinSA.
For the purposes of this homepage, the term “qualified investors” refers to investors as defined in the CISA:
Professional clients as defined under Art. 4 (3–5) or under Art. 5(1) and (4) FinSA.
Private customers for whom a financial intermediary within the meaning of Art. 4(3)(A) FinSA (financial intermediary in accordance with BankA, FINiA or CISA) or an overseas financial intermediary subject to equivalent prudential supervision provides asset management or investment advice as defined by Art. 3(c)(3) and (4) FinSA within the framework of an ongoing asset management or investment advisory relationship, unless they have declared that they do not wish to be regarded as such. The declaration must be available in writing or in another form verifiable by text.
It is the responsibility of the legal entity accessing the “qualified investors” section of this homepage to verify its own investor quality and affiliation with this category.
For the purposes of this homepage, the term “non-qualified investors” within the meaning of the CISA refers to all investors that do not meet the requirements for qualified investors under the CISA.
It is the responsibility of the legal entity accessing the “non-qualified investors” section of this homepage to verify its own investor quality and affiliation with this category.
Last update: 1 September 2023
