Investment foundation
An investment foundation is a foundation under Swiss law with the purpose of jointly investing and managing retirement assets from Swiss pension institutions . This is a special category of collective investments.
Investment foundations are considered to be complex structures. They are subject to Swiss foundation law and are subordinate to the OAK BV. This has issued instructions on the basis of various applicable laws and ordinances.
The group of investors in an investment foundation is limited to pension funds and other tax-exempt institutions based in Switzerland that serve occupational pensions. Persons supervised by the Swiss Financial Market Supervisory Authority ( FINMA ) ( generally banks) who manage the collective investments of the pension funds can also be accepted by an investment foundation.
Legal bases
The legal basis is formed by foundation law on the one hand, and the Federal Law on Occupational Old-Age, Survivors 'and Disability Pension Plans (BVG), the Ordinance on Investment Foundations (ASV) and the Ordinance on Occupational Old-Age, Survivors' and Disability Pension Plans (BVV) 2). In addition, company law also applies with regard to the design of the organizational structure and participant rights.
The regulation on investment foundations (ASV), which came into force on January 1, 2012, forms the regulatory basis.
Investment forms
The same investment regulations as for pension funds apply to investment foundations in the Ordinance on Occupational Retirement, Survivors' and Disability Pension Plans. Approved investments are therefore securities investments in the form of shares or other equity securities as well as bonds or corresponding collective investments , money market investments , real estate investments and, to a limited extent, alternative investments. Certain restrictions apply to the individual forms of investment, both in terms of quantity and quality. In addition, in order to maintain the willingness to pay , the investment foundation should also have adequate liquidity holdings that do not exceed the expected liquidity requirements.
Real estate investment foundations are a special form. They invest the funds entrusted to them exclusively in real estate.
Investment groups
Investors in the investment foundation invest their assets in investment groups (e.g. one investment group for bonds in CHF, one for Swiss shares, one for emerging market shares, etc.). An investment group consists of equal and no par value claims from one or more investors. The investment groups are computationally managed independently and are economically independent of one another. Property and rights that belong to an investment group will be segregated in favor of its investors in the bankruptcy of the investment foundation.
Web links
- Requirements for investment foundations OAK BV's OAK BV Occupational Pension Supervisory Commission, accessed on August 14, 2016
- http://www.kgast.ch KGAST Association of Investment Foundations
Individual evidence
- ^ [Investment foundations] OAK BV. Retrieved January 3, 2020 .
- ↑ gesetze.ch: Ordinance on investment foundations
- ↑ SR 831.40 Federal Act of June 25, 1982 on Occupational Old-Age, Survivors' and Disability Pension Plans (BVG). Retrieved January 3, 2020 .