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 Council adopted the dispatch on 19 August 2020. Parliament is due to discuss the bill for the first time in the second half of 2020. It is not expected to come into force until the start of 2022 at the earliest.