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663001 Funds intermediation
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This type includes:
- management of mutual funds authorised by Swiss law (mutual funds investing in securities, real estate or other assets). Mutual fund managers are free to decide how best to allocate assets, generally for the purpose of spreading risk, acting in his/her own name as well as on behalf of investors.*
*As defined by Art. 2 and 11 of the Mutual Funds Act of 18 March 1994
This type also includes:
- investment funds and foundations
This type excludes:
- activities carried out by depositary banks (see 6419)
- leasing activities (see 649100)
- activities carried out by securities brokers (see 661200)
- activities carried out by independent asset managers (see 663002)
- activities carried out by mutual fund distributors (see 661900)
- activities of representatives of funds domiciled abroad (see 661900)
- marketing and selling of real estate, buildings and accommodation (see 68)
- operational renting and leasing activities (see 77)
funds intermediation; funds management; investment funds; pension provision; vested benefits foundation; Vested benefits foundation (management of own funds)
Codification rules
Pension funding 2nd pillar
• 653000: Pension funding
Pension funds according to BVG, Non-mandatory (only foundations, public law, cooperatives)
• 663001: Funds intermediation (if no indication)
Foundations and investment funds have to be coded in 643000 and not in 663001
• 663002 : If vested benefits foundation with bank, insurance company / Tied accounts
Note :
In the commercial register www.zefix.ch this type of unit is indicated as having a supervisory authority (keywords: Aufsichtsbehörde / Stiftungsaufsicht).
Fund management and intermediation
NOT TO BE CONFUSED WITH:
Carrying out the same activity but different responsibility:
• Funds intermediation manages funds in its own name: 663001
• Funds management manages funds on behalf of clients: 663002
Vested benefits foundation (listed in the commercial register)
663001 - Funds intermediation
The management of funds entrusted by enterprise XY Ltd to promote tied pension provision.
3rd pillar
The law distinguishes between tied pension provision (3a pillar) and non-qualified provision (3b).
The pillar 3a retirement savings account at a bank is coded under 663001
A tied policy with an insurance company 663002.
• 663001: Funds intermediation (pillar 3a retirement savings account at a bank)