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The SWX Swiss Exchange and the Swiss Funds Association (SFA) are reorganising their fund data services via Swiss Fund Data AG, which will assume responsibility for these services in January 2007. The SWX Swiss Exchange will remain responsible for operating and maintaining the database and the Internet platform within the framework of a service agreement.
The data services pertaining to investment funds at the SWX Swiss Exchange will be given a new basis. Swiss Fund Data AG will assume responsibility for these services on 1 January 2007. After the transaction, the SFA owns 70.6 % of Swiss Fund Data AG, the SWX 29.4 %.
Swiss Fund Data AG is positioned as a joint venture for the fund business which is not profit-oriented. Its main objective is to create a maximum benefit for investors and providers of collective investments at a low cost. Step by step, the existing information system will be expanded into an exclusively Internetbased centralised information platform for the distribution of all collective investments that are approved in Switzerland.
Max Baumann, formerly CEO of the SFA, is responsible for the operational management of Swiss Fund Data AG. The board of directors is comprised of Dr. Gérard Fischer, President of the SFA, Dr. Matthäus Den Otter, CEO of the SFA, Karsten Illy, another representative of the SFA, and Werner Bürki, Member of the Management Committee of the SWX Swiss Exchange.
The fund data services proceed from an initiative of the SFA and the SWX called Transparency in the Fund Market (TIF) which was launched in 2001. The system now comprises about 4,600 fund-unit classes and features high-quality and consistent data. The 142 fund promoters who participate in the system represent about 85 % of the fund volume approved for distribution in Switzerland and guarantee meaningful statistics on the development of the market.
By migrating the fund data services to a new company, the SWX Swiss Exchange and the Swiss Funds Association SFA are affirming their efforts to provide a stable, cost-effective and comprehensive information platform for collective investments.
