AMAS considers further development of bilateral relations with the EU to be an important prerequisite for the future integration of Switzerland into the European single financial market.

The Investment Screening Act aims to introduce a review procedure for foreign investments. AMAS rejects the introduction of the Investment Review Act on fundamental macroeconomic grounds. Investment reviews have a negative impact on direct investments and economic growth.

AMAS rejects the proposed revenue-side measures, in particular the higher taxation of capital withdrawals from the 2nd and 3rd pillars, to reduce expenditure growth in 2027 budget relief program.

The Asset Management Association Switzerland (AMAS) supports the BVG 21 reform. The minimum benefits of the 2nd pillar must be better aligned with the increased life expectancy of insured persons. Opponents of the reform are trying to portray asset management costs, asset managers and other financial service providers as being partly responsible for the pressure to reform. However, the 3rd contributor, i.e. capital market income, contributes over 30% of the contributions to the 2nd pillar. The BVG 21 reform strengthens the savings process and thus gives part-time employees and employees with multiple jobs greater access to capital market income. Low-income earners and part-time employees will benefit greatly from the reform.

The Federal Council has called on the financial associations to further develop their self-regulations with regard to greenwashing. AMAS welcomes this approach and renews its position on greenwashing.

The Swiss electorate will vote on the draft Climate Protection Act, which arose from the withdrawn Glacier Initiative. The new Act would place some of the burden on the Swiss asset management industry. AMAS is in favor of this in principle.

The Asset Management Association Switzerland (AMAS) strives to promote favorable conditions for the Swiss capital market – including taxation. It therefore supports the campaign in favor of the withholding tax reform.

Position paper of the Asset Management Association Switzerland, 25 August 2022

In line with the Federal Council’s strategy for the financial center, the Asset Management Association Switzerland (AMAS) has set itself the aim of establishing Switzerland as a leading hub for sustainable asset management and making financial flows climate compatible. There are various prerequisites for achieving this, including the avoidance of greenwashing.

AMAS’s position paper, May 2022