Finma: Swiss Prime Site Solutions may launch funds
Swiss Prime Site Solutions will in future be able to manage collective capital investments and offer self-managed funds. The financial supervisory authority Finma has given the green light for this.
The Group company Swiss Prime Site Solutions has received legally binding authorisation from the Swiss Financial Market Supervisory Authority (Finma) to manage collective investment schemes under Swiss law and to offer self-managed funds, Swiss Prime Site announced on Thursday. This will enable the real estate asset manager to significantly expand its range of services and is expected to further increase the pace of growth. "Obtaining the Finma fund management licence was one of our strategic goals for the current financial year. This clears the way for us to offer investors investment opportunities in real estate that meet their needs," says René Zahnd, CEO of Swiss Prime Site.
According to Anastasius Tschopp, CEO of Swiss Prime Site Solutions, the company is planning to enter the market for real estate investment funds this year. The first product is to be presented to qualified investors shortly.
Swiss Prime Site Solutions has been entrusted with the management and asset management advisory of the Swiss Prime Investment Foundation since 2017. Assets under management have since more than doubled to over CHF 2.8 billion. Asset Management Advisory for third parties was also established at the end of 2020. In this business area, Swiss Prime Site Solutions has assets under advice of CHF 0.5 billion from various pension funds and has "further significant mandates to build up real estate portfolios in the pipeline", according to Swiss Prime Site. With the receipt of the fund management licence, the business model can now be expanded to include the third pillar of real estate funds. (ah)
