FinSA Client Information
Based on the legal requirements of Art. 8 ff. of the Financial Services Act (FinSA), we would like to supply you with this information sheet which provides an overview of Aquamarine Zürich AG (hereinafter referred to as the "financial institution") and its services.
A. Company information
Address
Aquamarine Zürich AG
Street: Rämistrasse 18
Zip Code/City: 8001 Zürich
Phone: +41 44 210 19 00
Email: info@rossreekie.pennylamont.com
Website: www.aquamarinefund.com
The financial institution was established in 2015.
Supervisory authority and audit firm
The financial institution has been licensed as a manager of collective investment schemes since 2015 and is therefore subject to prudential supervision by the Swiss Financial Market Supervisory Authority (FINMA), including compliance with applicable anti-money laundering regulations. Within the scope of this supervision, the financial institution is audited and reviewed annually by the audit firm PricewaterhouseCoopers AG, both in terms of supervisory law and the Swiss Code of Obligations. The addresses of FINMA and PricewaterhouseCoopers AG are listed below:
Eidgenössische Finanzmarktaufsicht FINMA
Laupenstrasse 27
3003 Bern
Phone: +41 31 327 91 00
Email: info@finma.ch
Website: www.finma.ch
PricewaterhouseCoopers AG
Birchstrasse 160
8050 Zürich
Phone: +41 58 792 00 00
Website: www.pwc.ch
Ombudsman
The financial institution is affiliated with the independent ombudsman institution Finanzombudsstelle Schweiz (FINOS), which is recognized by the Swiss Federal Department of Finance. Disputes concerning legal claims between the customer and the financial institution should be resolved, if possible, within the framework of mediation proceedings by this ombudsman's office. The contact details of FINOS are provided below:
Finanzombudsstelle Schweiz (FINOS)
Talstrasse 20
8001 Zürich
Phone: +41 44 552 08 00
Email: info@finos.ch
Website: www.finos.ch
If you have any questions or concerns, you may first contact Aquamarine Zürich AG directly at the address above. If no agreement can be reached, you have the right to initiate a mediation procedure with the ombudsman.
B. Information on the offered financial services
The financial institution provides asset management services through collective investment schemes (investment funds). It offers these collective investment schemes exclusively to investors who qualify as professional or institutional clients within the meaning of FinSA (i.e. qualified investors as defined in CISA) in Switzerland.
For further information on the collective investment scheme and its general risks, characteristics, and operating procedures, please refer to the relevant offering documents such as the Prospectus (Offering Memorandum) and factsheets.
The financial institution does not guarantee any particular return or performance of its investment activities. The value of investments can both increase and decrease. The financial institution has the necessary licenses to perform the above-mentioned services.
C. Client segmentation
Financial service providers in Switzerland are required to classify their clients into one of the client segments defined by law. The Financial Services Act provides for the segments of retail clients, professional clients, and institutional clients. Each client of the financial institution is classified in one of these categories as part of onboarding and our ongoing relationship. Subject to certain conditions, clients have the possibility to request a change to their classification (opting in or opting out) if the legal requirements are met.
D. Information on risks and costs
General risks associated with financial instrument transactions
Engaging in financial services and investments entails financial risks. The financial institution primarily serves professional and institutional clients. For such clients, specific risk disclosure documentation is generally not mandated by law due to their level of sophistication. Nonetheless, any client who does not fall under these categories should carefully review the brochure Risks Involved in Trading Financial Instruments published by the Swiss Bankers Association, which is available on their website, before entering into a contract.
Clients may contact the financial institution at any time if they have further questions about potential risks.
Risks associated with the offered services
For a description of the specific risks that may arise from the investment strategy of the collective investment schemes managed by the financial institution, please refer to the relevant contractual documents and offering materials (such as the fund’s prospectus or other offering memorandum, and any applicable key investor information documents). These documents provide detailed information on strategy-specific risks.
If unusual concentrations of risk within the client portfolio cannot be ruled out, the nature and extent of such concentration risks shall be disclosed to the client.
Information on costs
The financial institution charges fees for its services. These fees are typically calculated based on the assets under management and/or on a performance basis, in accordance with the terms agreed with clients. Details regarding the fee structure, including management fees and any performance-based fees, are documented in the relevant agreements and offering documents. Clients should refer to their asset management agreement and the fund documentation for full information on costs and charges.
If it is not possible to determine the actual amount of remuneration or third-party services before the financial service is provided or the contract is concluded, the financial institution shall inform the client of the range of the respective remunerations, taking into account the different asset classes and financial instruments.
If the exact amount of third-party remuneration cannot be determined in advance, the client shall be informed of the range of the expected remuneration in relation to the portfolio value and the agreed investment strategy.
E. Information about relationships with third parties
In connection with the financial services provided, the financial institution may have business relationships with third parties. In particular, the financial institution may receive payments or retrocessions from third parties (for example, commissions, trailer fees or other benefits from custodians or other service providers) related to its services. The acceptance and handling of any such third-party payments are governed by the agreements with our clients and applicable regulations. Any such benefits will be disclosed to clients, and the financial institution will either pass them on to the client or retain them only with the client’s informed consent, in accordance with legal requirements.
F. Information on the market offer considered
The financial institution follows an "open universe" approach in its investment activities. This means it is not limited to particular providers or financial instruments when managing client assets or the assets of the collective investment scheme. The financial institution seeks to choose the most appropriate and optimal financial instruments for its investment strategy and its clients, based on an extensive analysis of the market.
G. Appropriateness and suitability
Suitability test for asset management
When providing asset management services, the financial institution must take into account the entirety of the client portfolio it manages. It makes the investment decision itself.
The financial institution must determine the financial circumstances and investment objectives as well as the knowledge and experience of the clients. In this context, the knowledge and experience relates to the financial service and not to the individual transactions.
The information gathered by the financial institution about the knowledge and experience of the clients must take account the investment strategy, and the granularity of the survey must be adapted to the complexity and risk profile of the investment and the investment strategy. In particular, the financial institution must be certain about the knowledge and experience of the clients in relation to each relevant investment category used in the financial service.