Richard Byworth

Germany: Fund industry grows by 6 per cent ▪️ Equity funds with record assets ▪️ Bond funds with highest sales since 2012 ▪️ Balanced funds and property funds with outflows ▪️ Decline in new business for Spezialfonds The fund industry manages a record EUR 4,413 billion in assets for investors in Germany as at the end of September. This is an increase of over 6 per cent since the beginning of the year (EUR 4,149 billion). At EUR 2,183 billion, the majority is accounted for by open-ended Spezialfonds for institutional investors. These are primarily retirement pension schemes (EUR 768 billion) and insurers (EUR 536 billion). The fund companies manage EUR 1,524 billion in open-ended retail funds, EUR 645 billion in mandates and EUR 61 billion in closed-ended funds. In the first nine months of the year, the industry received net new money totalling EUR 21.3 billion. Open-ended retail funds accounted for EUR 20.6 billion of this, compared to EUR 14.0 billion in the same period last year. For further information, please see the press release: https://lnkd.in/eUKaYcPm Peggy Steffen Christiane Lang Frank Bock Volker Weber Magdalena Kuper Kai Schulze Yvonne Schulz Sebastian Oys Christian Anger Moritz Bartsch Rudolf Siebel Felix Ertl Daniel Mettlach Marius Seibert Jenny Seydel Marc Bubeck Sebastian Krämer- Bach Klaus Papenbrock Dr. Sinan York Temelli Cvetelina Todorova Jasmine Carolin Schimke

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Switzerland is going one step closer to zero rates again. Is it the return of “lower for longer” after a short parenthesis of normalized rates? Implications for CHF-based investors will have to be carefully considered.

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📢 Sygnum Bank's June House View: Tailwinds for the crypto market after a landmark week for US crypto policy   • Market participants are positioning for the next wave of demand to move the crypto market out of the current consolidation phase • Net inflows into Ethereum spot ETFs may be slow at first but build over time to cause demand shocks • Tailwinds for the crypto market after a landmark week for US crypto policy   Read about these topics in our June House View from the Sygnum Asset Management Team:   ➡️ Market spotlight ➡️ Market outlook ➡️ Sentiment analysis ➡️ Market performance ➡️ Chart of the month   Download the report here: https://lnkd.in/e4Zp9SQf   Katalin Tischhauser, Fabian Dori, Stefan Edelmann, Markus Hämmerli, Federico Pepe, Juan Carlos Largo Castellà, Olga Voldiner, Lionel Vaucher   #ethereum #crypto #bitcoin

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🚨 Big News in Swiss Crypto Regulation: FINMA's New Guidelines on Stablecoins 🚨 FINMA has introduced significant regulatory changes that could reshape the Swiss crypto industry, especially impacting stablecoins. Here’s a rundown of what these changes mean for the sector: 🔍 Key Changes: • Mandatory Licensing: Stablecoin issuers must now obtain a banking license or secure a bank guarantee. This requirement raises the entry barrier for new projects and could hinder smaller start-ups from launching stablecoins. • Transparency Over Anonymity: New rules mandate the identification of every stablecoin holder, challenging the decentralized finance (DeFi) principle of anonymity. This shift aims to increase transparency but might also push the industry towards a more centralized model. 💡 Potential Impact: 1. Innovation Challenges: The new licensing requirements make it tough for start-ups to enter the market without substantial financial resources. This could lead to fewer innovative projects emerging from Switzerland. 2. Shift Towards Centralization: By enforcing identification and guarantees, these rules could move DeFi projects into a more regulated and centralized framework, affecting the industry's core decentralized nature. 3. Migration of Innovators: Stricter regulations might drive Swiss crypto innovators and start-ups to relocate to more crypto-friendly jurisdictions like Abu Dhabi, Dubai, or Singapore, which are rapidly becoming new hubs for digital assets companies. 🚀 Looking Ahead: Switzerland's regulatory environment is evolving. While these new rules aim to enhance security and transparency, they also raise questions about the future of innovation and decentralization in the Swiss crypto space. How will the industry adapt, and what will this mean for global crypto dynamics? At Legalaes, we're here to help you navigate these regulatory changes. Our team offers expert guidance to ensure your business stays compliant and successful in Switzerland's dynamic crypto landscape. 💚 📄 We’ve also prepared a detailed document for you to review the new regulations in depth. Feel free to check it out in the carousel below. #CryptoRegulations #FINMA #CryptoNews #Stablecoins #DeFi #Legalaes

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Lenders benefit from the higher APR's we can charge at LEND. AFTER Defaults and AFTER fees the LEND portfolio produced a solid 1.09% return in the first quarter of 2024. P2P lending in Switzerland produces solid investment returns, even in volatile interest rate environments. The effective lifetime of our loan remains at only 18 months on average and essentially all yield pick up is credit yield. Next month we'll be able to show 100 monhts of performance! Or as Millennium rapper Nelly would say: "no matter what rates do...." #p2plending #privatedebt #millenniumrap

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🔹 Alternative Assets News in the Swiss Financial Market 🔹 At SMAT, we understand the growing popularity of private assets, driven by their potential for greater returns and downside protection. What are Alternative Assets? Alternative assets are non-traditional investment vehicles that include private equity, private debt, real estate, infrastructure, and commodities. These assets typically exhibit low correlation with standard financial instruments like stocks and bonds. As mentioned in 2023 in a study by Lombard Odier involving 300 wealthy Swiss investors (HNWI), 42% have increased their investments in alternative and unlisted assets. Notably, 43% of Swiss-German investors believe private assets have shielded their wealth from market turbulence, compared to 24% in Romandy.   Unlisted assets have often outperformed, delivering double-digit returns over the past 20 years. Two-thirds of investors under 35 expect higher returns from private investments compared to traditional markets. The trend towards alternative assets is on the rise, with significant growth anticipated by 2025. Let's explore alternative investment opportunities to maximize your returns and strengthen your portfolio. 🌐🔍 You are a professional of finance. Join our wealth management community and get access to our latest exclusive private market opportunities at https://lnkd.in/ezmFhtmS   #Investment #Finance #AlternativeAssets #HNWI #PortfolioDiversification

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SwissBorg, a leading blockchain-based crypto wealth management platform now includes MANTRA’s $OM Token in their #RWA Thematic - an investment basket of top crypto projects in the real world assets vertical. With $1.39B in users' crypto assets and EU licensing, they're simplifying investments and driving adoption of emerging financial trends. Interested investors can explore further here: https://lnkd.in/dgRWWNK5 #OM being included in SwissBorg's RWA Thematic basket reflects the robustness and potential of MANTRA’s ecosystem. As regulatory frameworks evolve, MANTRA is well-positioned to bring finance on-chain by providing a secure and compliant platform for the #tokenization and trading of real world assets. Cyrus Fazel, CEO of SwissBorg, said, "𝐼𝑛𝑐𝑙𝑢𝑑𝑖𝑛𝑔 $𝑂𝑀 𝑖𝑛 𝑜𝑢𝑟 𝑅𝑊𝐴 𝑇ℎ𝑒𝑚𝑎𝑡𝑖𝑐 𝑎𝑙𝑖𝑔𝑛𝑠 𝑤𝑖𝑡ℎ 𝑜𝑢𝑟 𝑚𝑖𝑠𝑠𝑖𝑜𝑛 𝑡𝑜 𝑏𝑢𝑖𝑙𝑑 𝑎 𝑠𝑝𝑒𝑐𝑡𝑟𝑢𝑚 𝑜𝑓 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑒𝑥𝑝𝑒𝑟𝑖𝑒𝑛𝑐𝑒𝑠 𝑡ℎ𝑎𝑡 𝑒𝑚𝑝𝑜𝑤𝑒𝑟 𝑢𝑠𝑒𝑟𝑠 𝑡𝑜𝑤𝑎𝑟𝑑𝑠 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑓𝑟𝑒𝑒𝑑𝑜𝑚. 𝑀𝐴𝑁𝑇𝑅𝐴’𝑠 𝑓𝑜𝑐𝑢𝑠 𝑜𝑛 𝑐𝑜𝑚𝑝𝑙𝑖𝑎𝑛𝑐𝑒 𝑎𝑛𝑑 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦 𝑎𝑛𝑑 𝑏𝑒𝑖𝑛𝑔 𝑡ℎ𝑒 𝑓𝑖𝑟𝑠𝑡 𝑅𝑊𝐴 𝐿1 𝐵𝑙𝑜𝑐𝑘𝑐ℎ𝑎𝑖𝑛 𝑚𝑎𝑘𝑒𝑠 𝑖𝑡 𝑎 𝑔𝑟𝑒𝑎𝑡 𝑐ℎ𝑜𝑖𝑐𝑒 𝑓𝑜𝑟 𝑎𝑛𝑦𝑜𝑛𝑒 𝑖𝑛𝑣𝑒𝑠𝑡𝑖𝑛𝑔 𝑖𝑛 𝑅𝑊𝐴 𝑡𝑜𝑘𝑒𝑛𝑖𝑧𝑎𝑡𝑖𝑜𝑛, 𝑤ℎ𝑖𝑐ℎ 𝑖𝑠 𝑤ℎ𝑦 𝑤𝑒 𝑐ℎ𝑜𝑠𝑒 𝑖𝑡 𝑓𝑜𝑟 𝑜𝑢𝑟 𝑅𝑊𝐴 𝑇ℎ𝑒𝑚𝑎𝑡𝑖𝑐.” 𝑀𝐴𝑁𝑇𝑅𝐴 - 𝐹𝑟𝑜𝑚 𝐼𝑛𝑠𝑡𝑖𝑡𝑢𝑡𝑖𝑜𝑛𝑠 𝑡𝑜 𝐼𝑛𝑑𝑖𝑣𝑖𝑑𝑢𝑎𝑙𝑠: 𝐵𝑟𝑖𝑛𝑔𝑖𝑛𝑔 𝐹𝑖𝑛𝑎𝑛𝑐𝑒 𝑂𝑛𝑐ℎ𝑎𝑖𝑛.

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Zürcher Kantonalbank (ZKB), Switzerland’s largest cantonal bank, has launched Bitcoin and Ethereum trading for retail customers and third-party banks through its app and eBanking platform. To support this new offering, ZKB partnered with Crypto Finance, a firm licensed by Switzerland’s FINMA and Germany’s BaFin. The bank has also developed its own crypto custody system, integrating Fireblocks for added security and efficiency. 𝗥𝗘𝗔𝗗 𝗧𝗛𝗘 𝗗𝗘𝗧𝗔𝗜𝗟𝗦 👉 https://lnkd.in/ejvdaBmh Jan-Hendrik Völker-Albert Domenico Bonatesta Urs D. Baumann Kurt Kälin Richard Duchemin Ulviye Emirzade Jörg Müller-Ganz Christoph Schenk, CFA Martin M. Bardenhewer Alex Margison Bojana Stojković #crypto #bitcoin #ethereum #cryptocurrency #web3 #blockchain #trading

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🇨🇭 The Swiss National Bank (SNB) has raised concerns over its low equity in relation to its large balance sheet. President Martin Schlegel has emphasised that extending the SNB's capital base should take priority over distributing profits to the Swiss government and cantons. This comes as the bank considers not making a payout this year, despite posting a solid profit in the first nine months. 🔹 Balance Sheet Size: The SNB’s assets are valued at approximately $940 billion, with the bank's performance highly dependent on global market developments, which can fluctuate quickly. 🔹 Impact of Foreign Currency Purchases: The large balance sheet is primarily the result of foreign currency purchases aimed at reducing pressures on the Swiss franc following the 2008 global financial crisis. 🔹 Monetary Policy Considerations: Schlegel has reiterated that the SNB could take interest rates negative again if inflation remains below its target range. Current Swiss inflation stands at just 0.6%, well within the SNB’s target of 0-2%. 🔹 Impact on Government Payouts: The SNB has skipped distributing earnings to the government in the last two years after posting a record loss in 2022. Schlegel’s recent remarks indicate the possibility of withholding payouts again this year to strengthen the central bank's capital position. 📞 Let IWP help you navigate financial complexities with confidence. Book your free consultation today ➡️ https://lnkd.in/dTmZWFgx #IWP #economy #switzerland

Swiss National Bank and SDX Delve Deeper Into CBDCs, Tokenized Securities The next two-year phase of Project Helvetia will see other financial institutions and types of transactions join the party. https://lnkd.in/dm5_HSqc #Blockchain #Crypto

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🇨🇭 #Switzerland’s #Health-Care Vote Switzerland faces a tight vote on November 24th to reform health-care funding. Current #polls show a split: 1. 20 Minuten: 46% yes, 44% no. 2. SRG SSR: 54% yes, 37% no, but opposition is rising. What’s at Stake? The reform would equalize funding for #inpatient and #outpatient care. Currently, only #hospitalizations get support from #Swiss #cantons, but this change could encourage more patients to choose cost-effective outpatient treatments, potentially saving Switzerland’s health-care system up to 440 million Swiss francs annually. Other #Ballot Items: 1. Highway Extensions to ease traffic. 2. Rental Law Changes affecting tenants and landlords. 🗳 Don't forget to #vote!

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It's interesting to see how perspectives can change over time, especially in the finance sector. Zürcher Kantonalbank (ZKB), one of Switzerland's largest banks, shifting from a cautious stance on cryptocurrencies to offering custody and trading services for Bitcoin (BTC) and Ethereum (ETH) indicates a growing acceptance of digital assets within the traditional banking system. This move aligns with a broader trend of increased institutional adoption of cryptocurrencies. By providing these services, ZKB is likely aiming to cater to rising demand from clients interested in digital assets while ensuring they can securely store and trade them within a regulated framework. It also suggests that cryptocurrencies are becoming more mainstream in financial markets, with even previously skeptical institutions recognizing their potential value. https://lnkd.in/e4itkNmN

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OPINION The big question for UBS shareholders is how badly its share buyback promises will be knocked by the Swiss government’s desire to pursue higher capital requirements. The answer isn’t clear yet, but the truth might be: Not much. Chief Executive Officer Sergio Ermotti said during UBS’s first-quarter results on Tuesday that the bank itself was in the dark and hadn’t been consulted on the government’s thinking, leaving some uncertainty hanging over its longer term goals. But in the here and now, UBS is seeing fine progress. Results for the first three months put the bank well on course to beat its targets for integrating Credit Suisse and returning capital to investors this year. The shares rose 10% in morning trading. by Paul Davies #Switzerland

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🇨🇭 Swiss Crypto Valley recently got hit with new stablecoin regulations—FINMA (Swiss Financial Market Supervisory Authority) now demands a banking license and KYC. These rules are tougher than the EU’s and will push CHF-stablecoins abroad, costing Switzerland its monetary sovereignty. Good news is that Bitcoin remains decentralized and censorship-resistant. No central authority controls it, offering a level of financial freedom that fiat-based systems can’t match. Study #Bitcoin 🧡 https://lnkd.in/d74y6Xnz

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