NOTICE OF INFORMATION FOR CLIENTS
Waystone Fund Services (Switzerland) SA
This document provides you with all the information required by the Federal Act on Financial Services (FinSA). It is provided to you for information purposes only. Nothing in this document shall be construed or interpreted as a contract between you and Waystone Fund Services (Switzerland) SA. Should you wish to enter into a business relationship with Waystone Fund Services (Switzerland) SA, the terms and conditions applying to our relationship shall be exclusively governed by the written contract signed between us.
Registered office
The registered office of Waystone Fund Services (Switzerland) SA (« WAYSTONE ») is located at Avenue Villamont 17, 1005 Lausanne (Switzerland).
You can contact us using the following forms of communication:
Nicolas Danet’s phone number: +41 21 711 01 70
Nicolas Danet’s e-mail address: [email protected]
WAYSTONE provides services in the following languages: French, English and German.
Activities
WAYSTONE provides foreign collective investment schemes (and/or their management company or investment manager) with representation services in Switzerland (the “Representation Activity”).
WAYSTONE also provides qualified and non-qualified investors (in the meaning of the Federal Act on Collective Investment Schemes – “CISA”) with services related to the acquisition or sale of shares / units of collective investment schemes (the “Placement Activity”).
Legal structure
WAYSTONE is a limited company (“société anonyme” or SA) governed by Swiss law in the meaning of the Articles 620 et seq. of the Swiss Code of Obligations.
Supervision
With respect to its Representation Activity, WAYSTONE is licensed by the FINMA to act in Switzerland as representative for foreign collective investment schemes intended to be offered to qualified and non-qualified investors pursuant to the CISA.
All client advisers working for WAYSTONE and providing financial services to the clients are registered with the BX Swiss AG Register of Advisers.
Client classification
In accordance with the FinSA, WAYSTONE classifies its clients within the three following categories: private clients, professional clients and institutional clients. The extent of WAYSTONE’s obligations under FinSA and, consequently, the level of client protection depend on the client classification. The private client category benefits from the highest level of protection, while the institutional client category belongs to the category offering the lowest level of protection. Specific waivers and reliefs are available to professional clients.
Increase in the level of protection: if a client wishes to benefit from a higher level of protection, they shall inform his relationship manager which will provide them with a form in order to be classified in the corresponding category (“opting-in form”).
Decrease in the level of protection: if a client wishes to be classified in a category benefiting from a lower level of protection and provided they fulfil the conditions provided therefor, they shall inform their relationship manager which will provide them with a form in order to be classified in the corresponding category (“opting-out form”).
It should be noted that private clients which have not opted out for the status of professional clients are non-qualified investors (in the meaning of the CISA). In this case, WAYSTONE cannot provide them with services related to the acquisition or sale of foreign collective investment schemes not approved by the Swiss Financial Market Supervisory Authority for placement to non-qualified investors (FINMA).
Types of financial services offered
WAYSTONE offers the following financial service:
Acquisition or sale of collective investment schemes (i.e. the Placement Activity)
WAYSTONE provides qualified and non-qualified investors (in the meaning of the CISA) with services related to the acquisition or sale of shares / units of collective investment schemes.
This financial service is limited to placing specific collective investment schemes with the client, without any investment advice. The clients shall make their own assessment in order to determine if an investment is appropriate or suitable for them.
This service encompasses any activity addressed directly at certain clients that is specifically aimed at the acquisition or sale of shares / units of collective investment schemes.
Risk information
Any financial instruments – and any investments in financial instruments – entail risks and may involve losses.
The general risks related to financial instruments (including shares / units of collective investment schemes) are addressed in the brochure issued by the Swiss Bankers Association “Risks involved in trading financial instruments”, which can be downloaded without cost from the Swiss Bankers Association’s website (https://www.swissbanking.ch/en/downloads) or be obtained without cost directly from WAYSTONE.
The characteristics of the collective investment schemes placed by WAYSTONE, as well as the risks associated therewith are further explained in the fund’s documentation which must be issued in accordance with the applicable legislation (such as the prospectus and the key information document) which is available to the client at the following address: [email protected].
The relationship manager of WAYSTONE is further available to provide any additional information on any collective investment schemes offered by WAYSTONE.
Cost information
The costs resulting from an investment in a collective investment scheme placed by WAYSTONE are detailed in the fund’s documentation (such as the prospectus or the key information document). No further costs are charged by WAYSTONE.
Business relationships with third parties in connection with the financial services provided
WAYSTONE may act as the Swiss representative of foreign collective investment schemes which will be offered in Switzerland by WAYSTONE. Furthermore, WAYSTONE is part of an international group which provides various services in the investment fund industry. As a result, WAYSTONE may have an interest in offering shares / units of collective investment schemes which benefit from administrative and/or investment management services provided by entities affiliated with WAYSTONE.
Market offer taken into consideration when selecting financial instruments
WAYSTONE offers shares / units of collective investment schemes issued or promoted by affiliated parties (i.e. its own group).
Mediation
In case of any dispute (for instance, in the event of WAYSTONE’s denial of a right asserted by the client, but also at any time) pertaining to the financial services provided by WAYSTONE, that cannot be resolved between the client and WAYSTONE, the client can initiate a mediation proceeding before the mediation body with which WAYSTONE is affiliated: Financial Services Ombudsman (FINSOM), Avenue de la Gare 66, 1920 Martigny (Switzerland), www.finsom.ch.