Actively Managed Certificates
Multiple projects. Multiple borrowers. One certificate.
Accessing Swiss Residential Real Estate
The structure
Multiple financing opportunities, one certificate.
Collateral
Real-estate-backed collateral structures can be accommodated within the mandate. Loans may be added, repaid or rolled without requiring the certificate to be re-issued.
Management
Actively managed within predefined investment guidelines. The Product Manager manages the portfolio while investors hold a single, bankable investment line.
Issuer
A dedicated Swiss issuance vehicle, ring-fenced and off-balance-sheet, with its own Swiss ISIN. No issuer credit risk.
Distribution
Investors hold the certificate through their existing custody arrangements. It settles and transfers like any other security, without the operational burden of a traditional fund structure.
When to use AMC vs CLN.
CHOOSE AMC WHEN
CHOOSE CLN WHEN
USE CASE
A Swiss Residential Real Estate Lender
AMC QUESTIONS
AMC, in detail.
Is this a fund or a collective investment scheme?
Is this a fund or a collective investment scheme?
Who can invest?
Who can invest?
What is the issuer credit risk?
What is the issuer credit risk?
Can the loan book change after issuance?
Can the loan book change after issuance?
How many borrowers can sit in one certificate?
How many borrowers can sit in one certificate?
Who manages the portfolio?
Who manages the portfolio?
What collateral structures can be accommodated?
What collateral structures can be accommodated?
How is the AMC different from a CLN?
How is the AMC different from a CLN?
