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Podcast: Luca Bianchi about legal structuring of AMCs

New Episode on NaluFM: What is an Actively Managed Certificate (AMC), legally speaking?

New Episode on NaluFM: What is an Actively Managed Certificate (AMC), legally speaking?

Luca Bianchi, Partner at Kellerhals Carrard, spoke to  Stefan Wagner, Head of Business Development at vestr, on NaluFM about this special debt capital market instrument.

Beyond the benefits and advantages of AMCs, Stefan was curious to hear more about their legal structure. So, Luca shared insights about the Swiss regulatory framework:

  • AMCs are subject to FinSa (Financial Services Act) in Switzerland
  • An AMC must be structured in a way that it does not qualify as a collective investment under the Collective Investment Schemes (CISA)
  • Due to different structuring approaches in the market, issuers should consult a legal expert for support in structuring an AMC

Tune in to the podcast and learn more about recent private market evolvements on NaluFM: here.