The Asset Management Association Switzerland attaches great importance to ensuring that the key data for all open-end collective investment schemes authorized for sale in Switzerland are openly disclosed in a standardized and readily understandable form that allows meaningful comparisons. The association regards a high degree of transparency as the hallmark of the professionalism of the Swiss fund market, especially given the very broad and diverse range of products on offer in Switzerland.
The self-regulation regime therefore calls for open and fair information for investors, and providers of Swiss and foreign collective investment schemes must thus also ensure a transparent cost structure in line with international standards. Recognized and commonly used statistic in this regard include the total expense ratio (TER).
When publishing performance data, the providers of Swiss and foreign collective investment schemes are to comply with internationally recognized standards. The performance data of a collective investment scheme is the information investors pay most attention to, and it is therefore all the more important to ensure the uniform implementation of requirements with regard to the publication of such data.
In addition to this, providers of Swiss and foreign collective investment schemes must disclose the intended use of the management fee. This means that investors can get a detailed picture of the use made of the management fees charged to collective investment schemes before they buy units.
The guidelines issued by the Asset Management Association Switzerland ensure the standardized calculation of the total expense ratio (TER) and performance, create additional transparency for investors prior to the purchase of units in collective investment schemes, and contain binding provisions with regard to publication and disclosure.
Guidelines on the calculation and disclosure of the Total Expense Ratio (TER) of collective investment schemes - 16 May 2008 (Status as of 20 April 2015)
Guidelines on the calculation and publication of performance data of collective investment schemes - 16 May 2008
Guidelines on Duties Regarding the Charging and Use of Fees and Costs (Transparency Guidelines) - 22 May 2014