21 May 2024
The purpose of this information brochure (“notice”) is to inform our client (“you”) in accordance with our duty to do so under the Swiss Financial Services Act (“FinSA”). This notice contains information on Longfield Investment Partners Limited, the financial services offered and the associated risks as well as on how conflicts of interests are handled.
FinSA was adopted by the Swiss Parliament in 2018, entered into force on 1 January 2020 and came fully into application on 1 January 2022. It introduces a new regulatory framework governing Swiss financial markets and impacts the financial service providers.
Additional information on the costs and charges for the financial services offered are provided to you separately either under a specific information sheet and/or in the relevant fund documentation, in particular the prospectus/offering memorandum or, where applicable, the relevant term sheet or key investor information available provided to you directly.
The information contained in this notice can be amended from time to time.
The latest updated version of this brochure is available and can be downloaded on our website www.lfip.co.uk/finsa
Longfield Investment Partners Limited is a UK company acting as investment manager of Longfield LP.
Longfield Investment Partners (“LFIP”) is licensed by the FCA with its headquarters located at Audley House, 13 Palace Street, Victoria, London SW1E 5HX. (www.lfip.co.uk). LFIP is subject to the supervision of the FCA whose headquarters are located at 12 Endeavour Square, London E20 1JN. (www.fca.org.uk).
FinSA regulates the provision of financial services and financial instruments to clients (as defined in FinSA). For more details on client classification, you may refer to the sections “Client classification” and “Change in client classification” below. FinSA generally applies to financial service providers, client advisors and producers of financial instruments.
FinSA defines the following activities carried out for clients as financial services: (a) acquisition or disposal of financial instruments, (b) receipt and transmission of orders in relation to financial instruments, (c) administration of financial instruments (portfolio management), (d) provision of personal recommendations on transactions with the financial instruments (investment advice), and (e) granting of loans to finance transactions with financial instrument.
The following are financial instruments that are subject to FinSA: (a) equity securities, (b) debt instruments (securities not classified as equity securities), (c) funds units, (d) structured products, (e) derivatives, (f) deposits whose redemption value or interest is risk or price dependent, excluding those where the interest is linked to an interest-rate index, and (g) bonds (unit in an overall loan subject to uniform conditions).
Longfield Investment Partners Limited offers asset management services to investors.
In Switzerland, we offer the following financial service to Swiss clients: asset management. Such service does not amount to a personal investment recommendation. We do not offer other financial services to clients based in Switzerland.
Our services are only provided to institutional and professional clients under FinSA (qualified investors under CISA). Longfield Investment Partners Limited does not provide financial services to retail (private) clients. For more details on client classification, you may refer to the sections “Client classification” and “Change in client classification” below.
Longfield Investment Partners Limited will not verify whether the funds offered to you are suitable or appropriate before proposing you such funds. Longfield Investment Partners Limited is not required to document your needs and does not maintain records and other investment management reports or statements for the purposes of offering you units of a fund. Longfield Investment Partners Limited is subject to conduct rules in its home jurisdiction, which impose duty of loyalty, duty of care, and duty to provide sufficient information on the products offered to investors. Such duties oblige the Longfield Investment Partners Limited not to discriminate between investors without objective reasons.
Longfield Investment Partners Limited, as financial services provider, is required by FinSA to classify its clients into three categories where applicable: retail (private), professional and institutional clients.
Based on these classifications, the corresponding level of regulatory protection varies, depending on the client’s knowledge and experience in connection with investment matters:
If you do not agree with the initial classification by Longfield Investment Partners Limited, you can request a change in your classification as long as you meet the necessary legal requirements and that the requested classification falls within the range of funds offered by Longfield Investment Partners Limited (for more details, you may refer to the section “Change in client classification below”).
Clients may declare in writing or in another form demonstrable via text [as agreed with Longfield Investment Partners Limited] that they wish to “opt out” (reduce their regulatory protection) or, alternatively, “opt in” (increase their regulatory protection). The following changes of categories are allowed by FinSA:
High net worth retails individuals (HNWIs) and related investment structures
HNWIs and private investment structures set up for HNWIs (without professional treasury operation) may declare in writing that they wish to be treated as professional clients (“opting out”/”Elective Professional”), provided that the criteria laid down by the regulations are met:
Eligible “financial assets” include financial investments held directly or indirectly by the client, in particular: (i) sight or time deposits with banks and securities firms, (ii) certificated and uncertificated securities, including collective investment schemes and structured products, (iii) derivatives, (iv) precious metals, (v) life insurance policies with a surrender value, (vi) restitution claims from other assets held in trust specified in cif. (i) to (v) above. Direct investments in real estate and claims from social insurance schemes as well as occupational pension assets do not qualify as financial investments.
Professional clients
Occupational pension schemes and other institutions whose purpose is to serve occupational pensions with professional treasury operations and companies with professional treasury operations may declare in writing or in another form demonstrable via text as agreed with Longfield Investment Partners Limited that they wish to be treated as institutional clients (“opting out”) or, on the other hand, all professional clients that are not institutional clients may declare in writing that they wish to be treated as retail (private) clients (“opting in”).
Institutional clients
Institutional clients may declare in writing that they wish to be treated as professional clients (“opting in”).
Should a client wish to “opt-in” or “opt-out”, please reach your contact at Longfield Investment Partners Limited or send us an email at info@lfip.co.uk.
Longfield Investment Partners Limited adheres to strict ethical standards and is committed to act in the best interest of its clients. Longfield Investment Partners Limited has implemented organizational measures to prevent situations of conflict of interests that could arise between itself (including its employees and its business partners or affiliates) and those of its clients. If unavoidable conflicts of interests should nevertheless arise, you will be informed without delay. The information provided will cover (i) the nature of the conflict, (ii) the underlying reason for it, and (iii) the associated risk to you. You will also receive transparent information on the manner the conflict of interest will be handled. Additional information on that respect may be find in the relevant fund documentation.
When appointing a third-party entity for distribution activities, the Manager, the fund(s) or their agent may pay commissions as remuneration in respect of the offering of fund(s) in Switzerland. More information is available in the fund documentation.
Financial instruments offered for distribution only include instruments managed by us or our affiliates.
Transactions in financial instruments involve opportunities and risks. It is important that you understand these risks. A description of the major risks associated with such financial instruments used in connection with our financial services can be found in the relevant fund documentation, in particular fund prospectuses/offering memoranda that are provided to you.
Longfield Investment Partners Limited is not affiliated to an ombudsman to the extent it exclusively provides its financial services to professional clients (excluding high net worth retail client and private investment structures set up for such client without treasury operation, which have made an opting-out) and institutional clients.
The client advisers of Longfield Investment Partners Limited providing financial services to Swiss clients are not registered with a client adviser register to the extent that the Manager is prudentially regulated, and it exclusively provides its financial services to professional clients (excluding high net worth retail client and private investment structures set up for such client without treasury operation, which have made an opting-out) and institutional clients.
This notice is solely for informing clients about how Longfield Investment Partners Limited implements the applicable statutory requirements on investor protection under the Swiss Financial Services Act. It does not constitute an offer or solicitation by or on behalf of Longfield Investment Partners Limited to utilize a service, buy or sell funds, securities or similar financial instruments or participate in a specific trading strategy in any jurisdiction.