On 17 December 2021, the Swiss Parliament approved the introduction of a new type of investment fund for qualified investors. The introduction of the L-QIF is intended to strengthen the competitiveness of Switzerland as a location for funds and asset management.
The new limited qualified investor fund (L-QIF) will not need to be approved by the regulator (FINMA) and is not subject to direct prudential supervision, making setting up an L-QIF faster and cheaper than setting up currently available Swiss fund structures. It will be available only to qualified investors and can only be managed by a regulated asset manager or a fund management company. The L-QIF is expected to be available from the beginning of 2023.
With L-QIFs, qualified investors with links to Switzerland now have an alternative to similar foreign products like the Reserved Alternative Investment Fund (RAIF) in Luxembourg. The introduction of L-QIFs is therefore intended to enhance flexibility and to ensure that more collective investment schemes are launched in Switzerland in the future.