Tracker Certificates
A tracker certificate turns any asset, index or basket into a single bankable security with an ISIN, passively replicating its performance. Transparent, cost-efficient exposure, without the complexity of a fund or the discretion of active management.
What is a tracker certificate?
A tracker certificate is a bankable security, identified by an ISIN, that passively replicates the performance of an underlying asset, index or basket. Think of it as a mirror: it reflects whatever the underlying does, whether equities, bonds, commodities, crypto or a thematic basket, and capital raised from investors is linked directly to that performance.
There are no discretionary adjustments. Unlike an actively managed certificate, which a manager runs dynamically, a tracker is fixed and rules-based: it follows the defined path of its benchmark. Its role is simple, to give investors cost-efficient, bankable access to a targeted exposure, one of the most direct expressions of assetization.
Advantages of trackers for managers
Expand investor access
Offer smaller, bankable tranches of funds, private placements or direct investments, or bankable access to digital and alternative assets investors' banks cannot otherwise hold.
Boost distribution
Use trackers as fund feeders, co-investment vehicles or soft-IPO wrappers, opening new distribution channels and simplifying fundraising from day one.
Simplify the investment process
Replace lengthy LPAs, subscription documents and share purchase agreements with a straightforward certificate investment.
Quick to issue
Launch faster than a fund or ETF, at a fraction of the cost, seizing timely opportunities.
Broad asset coverage
Equities, bonds, commodities, crypto or thematic baskets, all in one bankable format.
Off balance sheet
Issued independently of any bank balance sheet, under a single ISIN in a dedicated segregated compartment.
Advantages of trackers for investors
Straightforward exposure
Access the performance of an asset or index without owning it directly.
Lower costs
Leaner structures and reduced fees, with no active management layer.
Broad accessibility
Equities, commodities, crypto or niche themes, in one bankable product.
Transparent performance
A bankable ISIN with a clear link to the underlying, easy to track and to hold.
How it works
Off-balance-sheet issuance, one Swiss ISIN.
Asset, index or fund
- The underlying the tracker mirrors, whether equities, commodities, crypto or a fund.
Issuer SPV
- Sits in a dedicated segregated compartment and carries the Swiss ISIN.
Investor
- Holds the tracker in a custody account and deposits, settles and trades it there.
Assetization in action
Real use cases, client success stories, live products.
Use CaseSwiss residential real estate. Project debt, project equity or diversified exposure.
Use CaseA feeder into your fund. Fractional tickets, any bank or broker, no new entity.
Use CaseOne hybrid AMC. A live trading book and illiquid holdings under a single ISIN.
Use CaseLaunch a single AMC on listed assets. One strategy, one product, live in days.
Use CaseAn AMC on digital assets. Your crypto strategy in a bank account, no wallets.
Use CaseTokenized AMCs on your platform. On-chain, backed 1:1, with a Swiss ISIN.
Use CaseStructured products on digital assets. Capital protection, yield and barrier payoffs.
Use CaseAn AMC on a portfolio of funds. Fund of funds, without the second fee layer.
Use CaseLaunch your AMC issuance platform. Keep the custody and the fees in-house.
Use CasePrivate equity and venture capital. A portfolio as an AMC, one name as a Tracker.
Use CasePrivate debt. Turn a loan into an ISIN-listed note with a coupon.
Use CaseSME financing. A mini-bond that raises capital without diluting ownership.
Use CaseStructured products in one AMC. Many positions, a single vehicle.
Use CaseImpact investing for companies. Fund your suppliers as an investment, not a grant.
Use CaseA portfolio of artists, securitized against future revenues.
Use CasePeer-to-peer loans. A whole basket in one certificate, no loan-by-loan selection.
Use CaseVenture capital as a certificate. No general partner and limited partner structure.
Use CaseCertificate of Things. Finance a machine, pay investors from what it produces.
Use CasePay-per-use. Investors fund the equipment and earn royalties as it runs.
Use CaseFine art and collectibles. A single work as a Tracker, a portfolio as an AMC.
