Modern perspectives on actively managed certificates.

A trillion-dollar product hidden in plain sight. Eight sessions. Fourteen visualisations. One synthesis of where the Actively Managed Certificate stands today — and where it is going next.

The Report

Eight chapters · Read in any order
01
The New Architecture of Active Management
What an AMC is, how it came to exist, and the range of what is possible. The introduction synthesises five days of the Summit into a single map of the territory.
No infographics — overview chapter
10 min→
02
Foundations: Understanding Actively Managed Certificates
Luca Bianchi traces the AMC from the ruins of Lehman through near-extinction at FINMA, the rise of off-balance-sheet issuance, and the expanding asset universe.
01History of the AMC 02What is an AMC?
12 min→
03
The AMC Market in 2026: What the Data Says
Pablo Conde of SRP on why the trillion-dollar market is almost impossible to measure, the disaggregating value chain, and where the competition has moved.
03How the market is evolving 04The universal wrapper
11 min→
04
AMCs and the American Markets
Fernando Concha on why the US is a pause not a stop, the surge of demand from Uruguay to Brazil, and four use cases that travel everywhere.
05AMC vs. SMA 06Four use cases
11 min→
05
AMCs and Digital Assets
Sygnum's Dominic Lohberger and GenTwo Digital's Florian Marty on off-exchange custody, the tokenization debate, and the always-yielding portfolio.
07Off-exchange custody 08Tokenization debate
10 min→
06
AMCs from an Asset Manager's Perspective
ISP Group's Fabio Oertle, after 2,500+ launches, on who actually uses AMCs, the step-by-step path to live, and what exotic underlyings really require.
09From idea to ISIN 10AMC or fund?
10 min→
07
AMC Master Class: A Case Study in Complex AMC Issuance
A technical walkthrough of a hybrid AMC combining private equity, private debt, and liquid assets — including the legal mechanics of PE direct investments.
11Hybrid AMC anatomy 12AMC structure
12 min→
08
AMC Infrastructure: Building the Rails
How the AMC Creator was built, what real user behaviour revealed, and a roadmap from discovery to end-to-end execution within a single platform.
13Finding your AMC setup 14Infrastructure roadmap
9 min→

What this report is

A synthesis of the GenTwo Global AMC Summit, held in Zurich in April 2026. Each chapter draws on one session — not as a transcript, but as a synthesis of what it revealed, why it matters, and what practitioners can take away.

How to read it

Read straight through, or jump in by chapter — each stands on its own. The persistent left-rail nav follows you between chapters; the infographic index opens from any page.