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Swiss funds boost access in German deal

Tuesday 16 August 2011 - by Will Henley

Authorities in Switzerland and Germany have signed a deal which will give Swiss securities funds greater access to the EU market.

Under the deal, German regulator the Federal Financial Supervisory Authority - or BaFin - will recognise Swiss single stock futures as if they are Ucits funds in terms of their tax treatment.

The Swiss Funds Association immediately welcomed the deal. "The SFA is pleased that its efforts with regard to market access have resulted in such a major success," said Martin Thommen, SFA president, according to Hedge Funds Review.

"We will continue to support our authorities in this regard, both within Europe and beyond, and we hope that this agreement will send out a signal."

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