Federal Act
on Collective Investment Schemes
(Collective Investment Schemes Act, CISA)

¹ Closed-ended col­lect­ive in­vest­ment schemes may be in the form of a lim­ited part­ner­ship for col­lect­ive cap­it­al in­vest­ments (Art. 98 et seq.) or an in­vest­ment com­pany with fixed cap­it­al (SI­CAF, Art. 110 et seq.).

² In the case of closed-ended col­lect­ive in­vest­ment schemes, in­vestors have neither a dir­ect nor an in­dir­ect leg­al en­ti­tle­ment at the ex­pense of the col­lect­ive as­sets to the re­demp­tion of their units at the net as­set value.

³ Lim­ited part­ner­ships for col­lect­ive in­vest­ment are based on a com­pany agree­ment.

⁴ SI­CAFs are based on art­icles of as­so­ci­ation and is­sue a set of in­vest­ment reg­u­la­tions.