Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 37 Fin­IA)

¹The level of cap­it­al ad­equacy stip­u­lated in Art­icle 37 Fin­IA must be main­tained at all times. They must amount to no more than CHF 20 mil­lion, in­clud­ing the cap­it­al in ac­cord­ance with para­graph 5.

²They will be cal­cu­lated as fol­lows in per­cent­ages of the total as­sets of the col­lect­ive in­vest­ment schemes man­aged by the fund man­age­ment com­pany:

a.

1% for that por­tion of the total as­sets not ex­ceed­ing CHF 50 mil­lion;

b.

¾% for that por­tion of the total as­sets ex­ceed­ing CHF 50 mil­lion, but not ex­ceed­ing CHF 100 mil­lion;

c.

½% for that por­tion of the total as­sets ex­ceed­ing CHF 100 mil­lion, but not ex­ceed­ing CHF 150 mil­lion;

d.

¼% for that por­tion of the total as­sets ex­ceed­ing CHF 150 mil­lion, but not ex­ceed­ing CHF 250 mil­lion;

e.

⅛% for that por­tion of the total as­sets ex­ceed­ing CHF 250 mil­lion.

³Where the fund man­age­ment com­pany renders fur­ther ser­vices in ac­cord­ance with Art­icle 34 Fin­IA, the op­er­a­tion­al risks arising from such trans­ac­tions are cal­cu­lated us­ing the ba­sic in­dic­at­or ap­proach as defined in Art­icle 92 of the Cap­it­al Ad­equacy Or­din­ance of 1 June 2012²³ (CAO).

⁴If the fund man­age­ment com­pany is en­trus­ted with the ad­min­is­tra­tion and port­fo­lio man­age­ment of the as­sets of a SICAV, its total as­sets must be in­cluded in the cal­cu­la­tion of cap­it­al in ac­cord­ance with para­graph 2.

⁵If the fund man­age­ment com­pany is solely en­trus­ted with the ad­min­is­tra­tion of a SICAV, it must hold ad­di­tion­al cap­it­al of 0.01% of the total as­sets of the SICAV.