Zurich, Switzerland, Europe & Middle East
Zurich, Switzerland, Europe & Middle East
Zurich, Switzerland, Europe & Middle East
On one side, the SPV enters into a contract with a (re)insurance company receiving a premium for taking on some form of insurance risk. On the other, the SPV issues securities that are purchased by investors who in turn get the insurance risk premium from the SPV. Investors also receive some form of money market return given that the transaction is fully collateralised and this security collateral is invested in-short term or overnight assets.
By adding ILS to a portfolio, investors can benefit from a diversifying risk premium that generates potentially attractive returns that are not correlated to the economic cycle.
An ILS is known as a principal-at-risk security. If a major insurance event takes place, then the issuing SPV may not repay the principal so that it can instead fulfil the (re)insurance obligations to the protection buyer.
ILS mainly cover non-life and, to a lesser extent, life risks. On the non-life side, the main risks are natural catastrophes, such as hurricanes, earthquakes or winter storms. There are also some marine, aviation, mortgage insurance and terrorism exposures being transferred into capital markets. Embedded value, extreme mortality and healthcare risks are covered on the life side of the ILS market.
Benefits to investing in ILS:
To facilitate legibility, the language forms male, female and diverse (m/f/d) are not used simultaneously in this text. All references to persons apply equally to all genders.
Schroder Investment Management (Switzerland) AG (herein after called "SIMSAG") webpages are aimed exclusively at qualified investors with their registered office or residence in Switzerland. The SIMSAG webpage also contains information about collective investment schemes which are not approved for distribution to non-qualified investors in Switzerland.
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This Website and all information contained herein is intended for exclusive use by professional clients as defined in the Federal Act on Financial Services of 15 June 2018 (the “FinSA”) and its implementing ordinance (“Professional Clients”) and by qualified investors as defined in the Federal Act on Collective Investment Schemes of 23 June 2006 (the “CISA”) and in its implementing ordinance (“Qualified Investors”), which have their residence or registered office in Switzerland.
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Company information and regulatorY STATUS
This Website is owned and operated by Schroder Investment Management (Switzerland) AG ("SIMSAG"). The registered office of SIMSAG is at Central 2, CH-8001 Zurich, Switzerland.
SIMSAG is authorised as fund management company according to the Federal Act on Financial Institutions of 15 June 2018 (“FinIA”) by the Swiss Financial Market Supervisory Authority FINMA, Laupenstrasse 27, CH-3003 Bern, Switzerland, (“FINMA”) and regulated by the latter.
SIMSAG is an ultimately wholly owned subsidiary of Schroders plc, London. Schroders plc is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
SIMSAG administers various contractual funds under Swiss law, acts as Swiss representative and distributor for many Schroder Funds under foreign law, provides asset management services for Swiss and foreign collective investment schemes and investment foundations as well as individual portfolio management and advisory services to other professional and institutional clients.
SIMSAG in particular is the fund management company of the Swiss domiciled Schroder Funds. The relevant fund documents (e.g. prospectus with integrated fund contract (or as the case may be, the fund contract with annex), the key information documents as well as the annual and semi-annual reports) of the Swiss domiciled Schroder Funds are available free of charge from SIMSAG.
Furthermore, SIMSAG is the Swiss representative for the foreign Schroder Funds which have been approved by the FINMA for offer to non-qualified investors in Switzerland (“Approved Schroder Funds”) and for the foreign Schroder Funds which have not been approved for offer in Switzerland by FINMA but which may be offered to exclusively Qualified Investors in Switzerland (“Schroder Funds for Qualified Investors”). Paying agent of the Approved Schroder Funds and of the Schroder Funds for Qualified Investors is Schroder & Co Bank AG, Central 2, CH-8001 Zurich, Switzerland. The relevant fund documents (as the case may be: prospectus, offering memorandum, articles, the key information documents as well as the annual and semi-annual reports) of the Approved Schroder Funds and the Schroder Funds for Qualified Investors are available free of charge from SIMSAG. The relevant fund documents for the Schroder Funds for Qualified Investors will only be made available to Qualified Investors.
As a fund management company, SIMSAG is, among others, subject to the rules under FinSA, CISA and FinIA.
Our FIDLEG Client Information Document in particular explains how we apply the regulatory requirements under FinSA and its implementing ordinance.
SIMSAG is affiliated to the following ombudsman:
Finanzombudsstelle Schweiz (FINOS), Talstrasse 20, CH-8001 Zurich, Switzerland.
Our FIDLEG Client Information Document sets out detailed information about the possibility to initiate a mediation procedure.
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No information or documents published on this Website constitutes a solicitation, an offer or a recommendation to buy or sell any Schroder Funds or other financial instruments, to effect any transactions, or to conclude any legal act of any kind whatsoever. The information on this Website is solely product-related and does not take into account any personal circumstances and does not qualify as general or personal investment recommendation or advice.
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SIMSAG does not represent that any Schroder fund or financial instruments mentioned on this Website are suitable for any investor. Therefore, you should not rely on the content of this Website when making any investment or other decisions. It is your responsibility to evaluate the merits and risks associated with the use of any materials on this Website before making any investment decisions based on such materials. Investment or other decisions should be made solely on the basis of the relevant fund documents (prospectus/offering memorandum, fund contract/articles, key information documents, financial reports) of the respective fund.
It is important that you read the relevant fund and product documents before you invest in financial instruments to ensure that you understand the investment policy, expenses, specific risks involved and other important matters, to determine whether it is a suitable product for you.
We recommend that you contact an independent financial advisor, tax consultant or other qualified expert in order to determine whether an investment in a particular fund corresponds to your specific requirements and preferred level of risk.
Investment Risk / Performance
The provision of financial services and investments in financial instruments involve opportunities but also bear risks. It is important that you understand these risks before using a financial service or investing in a financial instrument. The most significant risks are explained in the brochure RISKS INVOLVED IN TRADING FINANCIAL INSTRUMENTS of the Swiss Bankers Association (SBA) as well as in the relevant documents of the respective financial instrument.
The value of investments and the income therefrom may fall or rise and investors may not get back the full amount invested. Investors should be aware of the fact that exchange rate fluctuations can exert an influence on investments in foreign currencies.
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Intellectual Property Rights
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Applicable Law and Jurisdiction
Publication date: 1 January 2022