Fundbase Fund Services has received approval from the Swiss financial regulator, FINMA, to represent and distribute foreign collectiveinvestment schemes in Switzerland ahead of a regulatory shake-up on February 28. New legislation means that all foreign collective investment schemes targeted at qualified investors in Switzerland must have appointed a Swiss representative and a Swiss paying agent.
Fundbase has also recruited hedge fund specialist Lilian Klose-La Scalea as the firm's managing director to aid its compliance with FINMA's regulatory change. Scalea is responsible for expanding the company's representation and distribution business. Her experience of the Swiss funds market includes the launch of Swiss Fund Platform AG as a sister company of Swiss Multi Family Office Corum Vermogensverwaltung in 2011.
Fundbase is now the first regulated online hedge fund platform globally following this decision, the firm says.
"With our specialisation in hedge funds, access to investors via our platform, and our offering that meets all regulatory requirements, we are able to sustainably open up the Swiss market for the world's most innovative hedge funds," comments Michael Appenzeller, chairman of the board of directors of parent company, Fundbase Holding.
©2015 funds europe