A retail investor is a customer who is not a professional. This is commonly understood as the general investor who invests for their own private funds.
A semi-professional investor is a retail investor who invests a minimum of €100,000 and who declares in writing that they understand the risks associated with the investment. A semi-professional investor has the possibility to invest in more products than a retail investor.
Professional and institutional investors are actors who need a licence to operate in the financial markets. These can be credit institutions, insurance companies or pension funds, for example.
Any client who is neither a professional nor an institutional client is classified as a retail client.
High-net-worth retail clients and private investment structures created for them may declare that they wish to be treated as professional clients (opting out). Any person who can credibly declare that they satisfy the criteria below will be deemed high-net-worth:
On the basis of training, education and professional experience or on the basis of comparable experience in the financial sector, they have the necessary knowledge to understand the risks associated with the investments and have at their disposal assets of at least CHF 500,000; or
They have at their disposal assets of at least CHF 2 million.
Financial intermediaries as defined in the Banking Act of 8 November 1934 (BankA), the Financial Institutions Act of 15 June 2018 (FinIA) and the CISA
Insurance companies as defined in the ISA
Foreign clients subject to prudential supervision as the persons listed under the two bullets above
Central banks
Public entities with professional treasury operations
Occupational pension schemes with professional treasury operations and other occupational pension institutions providing professional treasury operations
Companies with professional treasury operations
Large companies, that exceed at least two of the following parameters:
Balance sheet total of CHF 20 million
Turnover of CHF 40 million
Equity of CHF 2 million
Private investment structures with professional financial businesses created for high-net-worth
retail clients.
Financial intermediaries as defined in the Banking Act of 8 November 1934 (BankA), the Financial Institutions Act of 15 June 2018 (FinIA) and the CISA;
Insurance companies as defined in the ISA
Foreign clients subject to prudential supervision as the persons listed under the two bullets above
Central banks
National and supranational public entities with professional treasury operations.
Investors residing in other countries
The Fund has defined Denmark and Switzerland as primary markets, and access to the information on the website is therefore limited to these markets only.
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Key Information Documents / Prospectus
Here you can find Key Information Documents and Prospectus for the relevant funds as specified in our FAQ.