Swiss Hedge Fund

Swiss Hedge Fund

Switzerland Approves First Single Manager Hedge Fund

Switzerland has approved the first single-manager hedge fund. Swiss & Global Asset Management launched the Swiss Hedge Trading Fund and it will be the first hedge fund to be regulated by Swiss Financial Market Supervisory Authority.
The Swiss Hedge Trading Fund has been launched by local distributor Swiss & Global Asset Management and is run by local manager Swiss Hedge Capital. It is the first single-manager hedge fund - as opposed to a fund of hedge funds - to be regulated by the Swiss Financial Market Supervisory Authority, Finma, according to Swiss & Global.

The long/short European equity fund replicates a strategy used by the manager in a Cayman-domiciled fund.

Reto Barbarits, a project leader at Swiss & Global Asset Management, said: "Institutional investors, mainly from Switzerland but also from the European Union, have told us that they would prefer hedge funds that come from a more regulated environment than an offshore domicile such as the Cayman Islands. We have seen investors asking for that in the last two months.

"One way to achieve that would be to use the European Union's Ucits fund structure, but that would not allow the physical borrowing of stock that the manager uses for short selling. The Swiss regulations don't impose that restriction, and we wanted the manager to have the chance to do what he does exactly, so we domiciled the fund here." Source

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