The Limited Qualified Investor Fund (L-QIF) is an innovative fund product designed to enhance the attractiveness and innovative capacity of Switzerland as a fund centre. The L-QIF is neither subject to approval nor approval by the Swiss Financial Market Supervisory Authority (FINMA) nor is it supervised by the latter. However, it is only open to qualified investors and must be managed by an institution approved and supervised by FINMA - usually a fund management company (administration and portfolio management). The consultation about the corresponding amendment to the Collective Investment Schemes Act (CISA) ended in autumn 2019.
The Federal Assembly passed the bill in the final votes on 17 December 2021. The revised CISA is expected to enter into force in the 2nd quarter of 2023.