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How to invest into AMCs
Step by step instructions
We've compiled essential information about Actively Managed Certificates (AMCs) along with step-by-step instructions for investing in them.
What is an AMC?
Issuance procedure and mechanism
Traditional investment products often lack the flexibility and versatility needed by today’s sophisticated investors. This gap has led to the rise of innovative financial structures like the Swiss Actively Managed Certificate (AMC). An AMC, initially a Swedish innovation, allows for managing various assets within a single security. The Swiss AMC, issued by Swiss financial institutions, is gaining global traction for its enhanced asset management capabilities.
The core idea of an AMC is similar to that of an investment fund: pooling investor money for a specific objective. However, AMCs offer several distinct advantages:
Compared to Traditional Asset Management:
- Efficiency gains and cost savings
- Suitable for clients of all sizes, even small ones
- Economies of scale for managing numerous clients uniformly
- Track record development
- Access to exclusive institutional instruments
Compared to Funds:
- Lower setup and running costs
- Faster time to market
- Greater flexibility in product design
- Reduced seed money requirements
- Regulated but generally not under the Collective Investment Schemes Act (CISA)
To understand how AMCs work, here are the key steps:
- Initialization: The issuer and asset managers define the assets for the AMC.
- Guideline: The issuer creates a management guideline for the certificate.
- Pricing: Pricing is set based on volume and strategy, including management fees.
- ISIN: An ISIN is obtained, and the certificate may be listed on stock exchanges.
- Active Management: Professional managers monitor and optimize the portfolio according to market performance.
- Liquidity: AMCs are traded on the stock exchange or returned to the issuer.
- Payouts: Income is distributed based on the underlying assets' returns and agreements.
Instructions: UBS Online Banking
Step 1: Log in to Your E-Banking Account
Access your e-banking platform using your login credentials. Make sure your account is secure and you are using a trusted device.
Step 2: Navigate to the Investment Section
Once logged in, go to the “Markets & Trading” section of your e-banking portal.
Step 3: Search for the AMC
Use the search function to find the specific AMC you wish to invest in. You can search by the AMC’s name, ticker symbol, or ISIN (International Securities Identification Number).
Step 4: Place an order
Choose the type of order you want to place (e.g., buy). Enter the amount you wish to invest and confirm the order.
Instructions: Swissquote
Step 1: Contact your Swissquote Sale Representative or the Customer Care Center
Step 2: Communicate AMC & ISIN
Inform them that you wish to invest in an Actively Managed Certificate and provide the ISIN of the respective product.
Step 3: Term sheet
Your Representative might ask for the respective Term Sheet of the product you are referring to. Download the Term Sheet (e.g. aisot AMC) and send it to the email they provide to you while staying in the call.
Step 4: Place order over the phone
You might be able to buy the product directly over the phone while speaking with the Representative. Just tell them how many units you want to buy. There will be a small fee involved with the transaction.
Step 5: Alternatively place an order via
trading platform
If the Representative invites you to buy the product through your trading platform:
- Log in to your account here: www.swissquote.ch
- Go to the trading platform
Step 6: Type in the ISIN in the search field
Step 7: Execution
Proceed as you would be buying any other product. Remember to buy at market price to ensure execution on the cut off day (15th of each month).