Answer ... In general, the potential target group of Swiss investors should be identified by the foreign alternative investment fund (AIF) or its manager before entering the Swiss market. Depending on the fund structure, the respective foreign collective investment scheme can be registered with the Swiss Financial Market Supervisory Authority and thereafter be marketed to all types of Swiss investors; or can be marketed to certain groups of investors only. Further, foreign AIFs and their managers should analyse the sales force to determine whether cross-border activities can be conducted and/or local marketing entities should be appointed (depending on the sales force, its authorisation in its country of domicile, its network in Switzerland and its disposable capital).
Finally, to facilitate market access to Switzerland, foreign AIFs or their managers may contact a Swiss representative and/or Swiss legal counsel to ensure a smooth entry into the Swiss fund market.