Fund management company licence (Switzerland)
The Fund management company licence (Fondsleitung nach Art. 32 FINIG) is issued by Swiss Financial Market Supervisory Authority (FINMA) under Federal Act on Collective Investment Schemes (CISA, SR 951.31). The official register lists 54 current holders. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Fund management company licence1 |
|---|---|
| Local name | Fondsleitung nach Art. 32 FINIG |
| Also known as | Fondsleitung · Swiss fund management company licence · FINMA fund management company licence · FINIG Fondsleitung licence |
| Issued by | Swiss Financial Market Supervisory Authority |
| Jurisdiction | Switzerland |
| Licence family | Fund manager |
| Legal basis | Federal Act on Collective Investment Schemes (CISA, SR 951.31)2 |
| Passporting | Domestic only |
| Annual fee | Annual supervisory levy allocated across fund management companies under Section 3 FINMA-GebV3 |
| Public register | official register4 |
| Current holders | 544 |
What it lets you do
| Managing alternative investment funds | Performing portfolio management and risk management for funds that are not UCITS, such as hedge, private equity and real estate funds. |
|---|---|
| Portfolio management | Managing client portfolios that include financial instruments on a discretionary, client-by-client basis. |
Where it is valid
Buying a company that already holds it
Prior approval required. A qualifying participation is defined as directly or indirectly holding at least 10% of the capital or voting rights, or otherwise exerting a significant influence over the company (BankA Art. 3 para. 2 let. c; FinIA Art. 11 para. 1). Notification to FINMA is mandatory prior to acquiring, disposing of, or reaching, exceeding, or falling below the statutory thresholds of 10%, 20%, 33%, or 50% (BankA Art. 3 para. 5; BankO Art. 8a; FinIA Art. 11 para. 4). For FinTech licence holders (Art. 1b BankA), FINMA's FinTech Licensing Guidelines explicitly mandate prior formal approval before completing any change in qualified participations. Furthermore, when foreign control is established or modified in a Swiss bank or securities firm, a supplementary licence (Zusatzbewilligung) is mandatory under BankA Art. 3bis. For SRO-affiliated financial intermediaries, Art. 6 para. 2 of SRO regulations (e.g. VQF) mandates prior written notice and SRO approval before transferring qualified holdings.5
FM in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | FSRA | n/a | n/a | n/a |
| Bermuda | Fund Administrator LicenceFund Administrator Licence (Part III, Investment Funds Act 2006) | BMA | n/a | n/a | n/a |
| British Virgin Islands | Fund manager licenceBVI mutual fund recognition (private/professional fund), registration (public fund) or approval (incubator/approved fund) - funds are recognised/registered/approved, not 'licensed' | BVI FSC | n/a | n/a | n/a |
| Cayman Islands | Regulated Mutual FundRegulated Mutual Fund (registered, master, or administered fund under the Mutual Funds Act) | CIMA | n/a | n/a | n/a |
| Cayman Islands | Registered Private FundRegistered Private Fund under the Private Funds Act | CIMA | n/a | n/a | n/a |
| Cyprus | Alternative Investment Fund Manager (AIFM) authorisation | CySEC | n/a | n/a | ~3 mo |
| Cyprus | Sub-threshold Alternative Investment Fund Manager registration | CySEC | n/a | n/a | n/a |
| Cyprus | UCITS Management Company authorisation | CySEC | n/a | n/a | n/a |
| Czech Republic | Sub-threshold Alternative Investment Fund Manager registrationSub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIF | CNB | n/a | CZK 10,000 | ~1 mo |
| Czech Republic | Investment Company / Fund Manager licence | CNB | n/a | CZK 50,000 | ~6 mo |
| Dubai International Financial Centre (DIFC) | Fund manager licenceFinancial Services Permission for Managing a Collective Investment Fund (Category 3C) | DFSA | n/a | USD 10,000 | n/a |
| Estonia | Small fund manager registration without activity licence | FI | n/a | n/a | n/a |
| Estonia | Operating licence as a fund management company | FI | n/a | EUR 600 | n/a |
| France | Portfolio management company authorisation | AMF | n/a | n/a | ~3 mo |
| Germany | Investment management company licence | BaFin | n/a | n/a | n/a |
| Ireland | Alternative Investment Fund Manager (AIFM) Authorisation/Registration | CBI | n/a | n/a | n/a |
| Ireland | UCITS Management Company Authorisation | CBI | n/a | n/a | n/a |
| Luxembourg | Alternative investment fund manager (AIFM) authorisation | CSSF | n/a | EUR 18,000 | ~3 mo |
| Luxembourg | Management company authorisedManagement company authorised under Chapter 15 of the Law of 17 December 2010 | CSSF | n/a | EUR 18,000 | ~6 mo |
| Netherlands | Alternative Investment Fund Manager (AIFM) licenceAlternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EU | AFM | n/a | EUR 200 | ~6 mo |
| Netherlands | Fund manager licenceUndertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/EC | AFM | n/a | n/a | n/a |
| Poland | Investment Fund Company licence | KNF | n/a | n/a | n/a |
| Poland | Alternative Investment Company Manager registration / licence | KNF | n/a | n/a | n/a |
| Seychelles | Fund Administrator's LicenceFund Administrator's Licence (and Restricted Fund Administrator's Licence) under the Mutual Fund and Hedge Fund Act 2008 | FSA | n/a | n/a | n/a |
| Spain | Fund manager licence (SGIIC) | CNMV | n/a | EUR 10,000 | n/a |
| Switzerland | Fund management company licence | FINMA | n/a | n/a | n/a |
| Switzerland | Manager of collective assets licence | FINMA | n/a | n/a | n/a |
| United Kingdom | Fund manager licenceAlternative Investment Fund Manager (AIFM) Authorisation / Registration | FCA | n/a | n/a | n/a |
Values come from each licence's page, where every figure has its source.
Sources
- finma.ch: asset management · retrieved 2026-09-24
- Swiss federal law (Fedlex): 822 · retrieved 2026-09-24
- Swiss federal law (Fedlex): de · retrieved 2026-09-24
- finma.ch: flvervt (PDF) · retrieved 2026-09-24
- finma.ch: fintech bewilligung · retrieved 2026-09-24
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