Zurich-based Arve Asset Management received its Swiss banking license at the beginning of the year. Now the fund management team is being expanded.
Arve Asset Management will take over the fund manager role at Mobilitas Global Convertible Fund as of January 16. The company previously acted as an investment advisor and distributor in Switzerland for the Luxembourg-based fund. As part of the acquisition, the fund will be renamed Arve Global Convertible Fund, according to a statement Tuesday
The Zurich-based asset manager has held a legally binding license from the Swiss Financial Market Supervisory Authority (Finma) as a manager of collective assets since January 3, it added.
Managing director Michel Fest said the company can now celebrate the two important milestones with the Finma authorization and the acquisition of the fund.
Convertible Bond Specialist
Arve Asset Management was founded in 2019 and is an investment boutique focused purely on convertible bonds. The partners all have many years of experience in the convertible bond asset class and personally handle the fund and investors.
In addition to Fest, Aljosa Aleksandrovic is one of the founders of the boutique. Both previously worked for the British hedge fund pioneer Man Group, which is domiciled in Pfaeffikon SZ.
Investment Funds
In December, the Swiss National Bank released a study showing investment funds are making inroads into the traditional realm of wealth management in Switzerland. In 2021, banks accounted for 3.576 trillion Swiss francs of assets, up 26 percent from 2005. At first glance, that looks impressive but compared to the 347 percent growth during the same period in investment funds, it shows the latter is making inroads.
Moreover, the number of entities is on the rise. From 2005 to 2021, the number of banks declined by 29 percent from 337 entities domiciled in Switzerland to 239. At the same investment funds based in the country increased 127 percent to just over 1,800, according to the SNB, as finews.com reported.
