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

¹ An L-QIF is a col­lect­ive in­vest­ment scheme that:

a.

is only open to qual­i­fied in­vestors;

b.

in the event that it in­vests its funds dir­ectly in real es­tate, is open only to in­vestors who are pro­fes­sion­al cli­ents in ac­cord­ance with Art­icle 4 para­graph 3 let­ters a–h FinSA¹⁴⁹;

c.

is man­aged in ac­cord­ance with Art­icles 118g and 118h; and

d.

has neither au­thor­isa­tion nor ap­prov­al from FINMA and is not su­per­vised by FINMA.

²It is sub­ject to this Act un­less it provides oth­er­wise.