Swiss Financial Services Act (FinSA)
JPMorgan Asset Management (Switzerland) LLC
Information for clients pursuant to the Swiss Financial Services Act
The Swiss Financial Services Act (FinSA) entered into force on 1 January 2020 with broad transition periods until 31 December 2021. The FinSA aims at strengthening investor protection and the Swiss financial centre, and establishing comparable standards for financial service providers.
1. The Company and its supervisory authority
JPMorgan Asset Management (Switzerland) LLC (the Company) is a wholly owned subsidiary of JPMorgan Asset Management (Europe) S.à r.l., Luxembourg, and ultimately owned by JPMorgan Chase & Co., New York, USA.
It is a sales and marketing office dedicated to the offer, distribution and marketing of investment products and capabilities of the JPMorgan Asset Management line of business of the JPMorgan Chase & Co. group of companies (JPMC Group). Target clients are primarily financial intermediaries, professional and institutional clients.
The Company is authorized as representative of foreign collective investment schemes according to the Swiss Collective Investment Schemes Act (CISA) and supervised by the Swiss Financial Market Supervisory Authority (FINMA), Laupenstrasse 27, 3003 Bern (www.finma.ch).
The Company´s activities comprise (i) the representation in Switzerland of foreign investment funds including Exchange Traded Funds (ETF) managed by JPMorgan affiliated entities, (ii) the offer, distribution and marketing of the same in and from Switzerland, and (iii) client service and relationship management activities. In addition, the Company acts as representation of JPMorgan Asset Management (UK) Limited for the purpose of marketing and promoting JPMorgan Asset Management’s investment capabilities.
When providing services to the client, the Company is not rendering any investment advice or providing personal recommendations to invest in any financial instruments. The Company is not required to assess the appropriateness and suitability under FinSA in connection with the services provided.
2. Recognized ombudsman service
The Company aims to provide a first-class service. Should a situation arise where the service provided does not meet your expectations, please contact your client advisor who will find a way to resolve the issue. If the topic cannot be resolved together with the client, clients may contact FINOS Finanzombudsstelle Schweiz, Talstrasse 20, 8001 Zürich (www.finos.ch), the recognized ombudsman service which the Company is affiliated to. It is a free and neutral information and mediation agency.
3. General risks associated with investment funds
As every financial instrument, investment funds are subject to a number of general and specific risks. Investment funds are subject to the same market, volatility, country, currency, liquidity and issuer risks as the investments they make. The extent of specific risks depends on their investment restrictions, risk diversification and use of investment techniques and derivatives.
The legal documents constituting a fund (fund contract, prospectus, other offering documentation) and (where applicable) the key information document, describe its risk profile in detail. The legal documents for the investment funds offered by the Company are available on our website or from your client advisor.
4. Cost Information
Information about costs of an investment fund can be found in the fund prospectus (or equivalent document). The Company does not charge any fees to its clients for the services provided.
5. Business affiliations with third parties – Conflicts of interests
The Company is dedicated to the offer, distribution and marketing of investment products and capabilities of certain JPMorgan Asset Management affiliates. The Company does not sell or market any other products.
FinSA requires the Company to take all reasonable steps to identify and manage conflicts of interests between itself and its clients and between one client and another. The Company applies the JPMC conflict policies and procedures which are consistent with the FinSA requirements.
As a local sales office, the Company is compensated for the offering, distribution and marketing of investment products and capabilities of affiliated entities. This compensation is borne by the relevant affiliated entities, e.g. the fund management company of a fund or an investment manager.
The fund management company, respectively the investment manager are compensated for the management of the investment products, respectively client assets, as explained in the fund prospectus (or equivalent document) or mutually agreed with a client. The management fee is a percentage of the asset value and is deducted from the net asset value of the portfolio. A portion of the management fee is then shared with the Company on the basis of the assets attributed to the Company as a result of the efforts of the local sales teams. The percentage of management fee depends on the family of products and on the asset class.
6. Contact details
If you have questions about the above information, which may be subject to change from time to, please contact your client advisor or the Company under the following details:
JPMorgan Asset Management (Switzerland) LLC
Dreikoenigstr. 37, 8002 Zurich
Phone: +41 44 206 86 00