Ordinance on Collective Investment Schemes

(Art. 7 para. 3 and 4 CISA)

¹Ir­re­spect­ive of leg­al status, col­lect­ive in­vest­ment schemes are as­sets provided by at least two mu­tu­ally in­de­pend­ent in­vestors for the pur­pose of col­lect­ive in­vest­ment and which are man­aged ex­tern­ally.

²In­vestors are mu­tu­ally in­de­pend­ent when they provide as­sets that are mu­tu­ally in­de­pend­ent in leg­al and de facto terms.

³For group com­pan­ies in the same group of com­pan­ies pur­su­ant to Art­icle 3 of the Fin­an­cial In­sti­tu­tions Or­din­ance of 6 Novem­ber 2019² (FinIO), the re­quire­ment for the as­sets to be in­de­pend­ent pur­su­ant to para­graph 2 does not ap­ply.³

⁴The as­sets of a col­lect­ive in­vest­ment scheme may be provided by a single in­vestor (single in­vestor fund) where such in­vestor is an in­vestor pur­su­ant to Art­icle 4 para­graph 3 let­ter b, e or f of the Fin­an­cial Ser­vices Act of 15 June 2018⁴ (FinSA).⁵

⁵The re­stric­tion of in­vestor eli­gib­il­ity to in­vestors as defined in para­graph 4 must be dis­closed in the rel­ev­ant doc­u­ments pur­su­ant to Art­icle 15 para­graph 1 of the Act.