Regulatory information

The following sections provide essential information about the regulatory status of iAccess Partners AG (the “Company” or “iAccess Partners”) and rights of clients under the Swiss Financial Services Act (FinSA) and other applicable regulation.

1. About iAccess Partners

iAccess Partners is the operator of an electronic platform (the Platform¸ www.iaccesspartners.com) which displays investment opportunities in selected private equity funds  (“Funds”) to users (“User” or “Client”). Clients who meet certain criteria may register on the Website and become a «Registered Investor». They can then have access to additional content, features and services and decide to invest in one or several of the Funds.

Since private equity funds usually have relatively high minimum investment thresholds, iAccess Partners is bundling smaller tickets though iAccess Partners Securities FT, a securitisation fund organised in accordance with the Law relating to securitisation of 22nd March 2004 (Loi du 22 mars 2004 relative à la titrisation) (the Securitisation Fund or the Issuer). The Issuer is represented and managed by its management company iAccess Partners Management Sàrl (the Management Company), a société de gestion de fonds de titrisation registered with the Luxembourg Register of Commerce and Companies under the register number B271178, with registered address at 2C, Parc d’Activités, L-8308 Capellen, Grand Duchy of Luxembourg.

The purpose of the Issuer is to acquire or to assume the risks associated with selected private equity funds (the Underlying Assets). The Issuer will finance the acquisition of such risks by issuing Zero Coupon Notes (the Notes) in series (each a Series) eventually divided into tranches (the Tranches) under its iAccess Partners Securities Note Programme (the Programme) described in a Private Placement Memorandum (the Private Placement Memorandum). Each Series of Notes will be issued by a separate compartment of the Issuer (a Compartment), each Compartment corresponding to a separate private equity fund. The value and yield of each Series will be linked to the private equity fund which serves as the Underlying Assets of such Series. The terms and conditions governing each Series of Notes are set forth in the final terms (the Final Terms).

Investas AG, Bärenplatz 8, 3011 Bern, acts as an investment advisor to the Management Company.

Paying Agent for Switzerland in accordance with article 121 of the Collective Investment Schemes Act (CISA) is Banque Cantonale de Genève, Quai de l’Ile 17 – CP 2251, 1211 Genève 2.

Representative for Switzerland in accordance with article 123 seq. CISA is Mont-Fort Funds AG, Chemin de Plan Pra 63, 1936 Verbier.

2. Contact information and regulatory status

iAccess Partners can be reached as follows:

Bahnhofstrasse 1
6340 Baar
Switzerland
info@iaccesspartners.com

iAccess Partners is a financial services provider under article 3(c)(2) the Financial Services Act (FinSA). Its client advisors are registered in the regservices advisor registry under register numbers DM40729 and NM04612. iAccess Partners is a member of the Financial Ombudsman Service Switzerland (FINOS).

iAccess Partners does not provide investment advice or portfolio management services. It is therefore not regulated or supervised as a financial institution by the Swiss Financial Market Supervisory Authority (FINMA).

3. Client classification

Only persons who qualify as qualified investors/professional clients in accordance with article 10(3) CISA and article 4(3)-(5) and article 5(1) and (4) FinSA may register on the iAccess Partners website and become a Registered Investor. iAccess Partners does not serve private clients.

Professional clients are treated as sophisticated investors who have a lower level of investor protection than private clients, based on their level of knowledge and experience, and their ability to bear financial losses. Some rules of conduct do not apply to professional clients (e.g. provisions of KID).

Unless the client is already classified by operation of law as a professional client (i.e. financial institutions, pensions funds or companies with professional treasury) they can apply for a change of classification (‘opting out’) under the following conditions:

• the client has the necessary knowledge based on training, education, and professional experience, or on the basis of comparable experience in the financial sector to understand the risks associated with the investments and has eligible assets of at least CHF 500 000; or
• the client has eligible assets of at least CHF 2 million.

Only bankable assets are eligible for purposes of an opting-out, including bank deposits, securities, collective investment schemes and structured products, derivatives, previous metals an life insurance policies with a surrender value. Direct investments in real estate and claims from social insurance schemes as well as occupational pension assets do not qualify as eligible financial investments.

User wishing to register as an investor will have to submit the necessary information for the client classification as part of the registration process.

4. No suitability or appropriateness assessment

iAccess Partners does not provide investment advice or portfolio management services. It does therefore not perform any suitability or appropriateness assessment.

5. Best execution framework

Best execution is the obligation to take all necessary steps to obtain the best possible result for clients on a consistent basis when executing transactions on their behalf (including use of third-party financial institutions to execute transactions). In order to determine the best possible result iAccess Partners and third parties take private equity fund information such as size, past performance, successiveness, non-exclusivity, geographical reach and sustainability into account.

6. Conflicts of interest

Conflicts of interest may occur when business interests are contrary to one another. If not mitigated, they may result in a financial disadvantage for the client.

iAccess Partners takes all necessary precautions to avoid conflicts of interest and to protect the clients from disadvantages. If a conflict of interest cannot be avoided, it will be disclosed to Clients in an adequate manner.

iAccess Partners does not receive any remuneration from third parties in connection with the provision of financial services. Should iAccess Partners exceptionally receive such remuneration, it will pass it on to the entitled Clients or, if this is not possible, disclose it.

iAccess Partners is the holding company of iAccess Partners Management Sàrl, through which Private Equity investments are pooled in order to make Funds accessible. Otherwise iAccess Partners is not part of a group, or affiliated with third parties in a manner that conflict of interests to the detriment of clients could result. Relationship with managers of the Funds displayed on the Website are at arm’s length.

7. Costs and fees

iAccess Partners is dedicated to provide full transparency in relation to costs and fees incurred by Registered Investors when making an investment. The fee schedule of iAccess Partners is part of the documentation which have to be accepted by Users as part of the investment process. Information about the fees and costs charged by a fund manager will be disclosed in the particular Fund documentations.

8. Risks

Investments in financial instruments like private equity contain opportunities but also bear risks. It is of utmost importance that clients understand the risks of the financial instrument they are investing in. Generally speaking, the overall risk profile of private equity investment is higher than that of other asset classes, but the returns have the potential to be notably higher.

The two main risk categories of private equity investments are market and liquidity risk:

Market Risk: Private equity investors face greater market risk with their investments compared to traditional investments because there is no guarantee that the target company will grow as anticipated. An ineffective management team, a new product launch that fails, or a new, promising technology that becomes obsolete due to competitors, can lead to significant losses for private equity investors. Although other asset classes carry market risk, default risk is lower with more established companies. Also, private equity investments may involve the company using a significant amount of debt, which can be costly to service through interest payments over time.

Liquidity Risk: Private equity investments are generally highly illiquid investments compared to other asset classes. Minimum holding periods between four and seven years, and sometimes even longer. Also, unlike listed shares or ETFs, it is usually not possible to sell private equity investments prior to the end of the holding period.

Further specific risk disclosures can be found in the relevant Fund documentations, including the Fund prospectus. The brochure ‘Risks Involved in Trading Financial Instruments’ of the Swiss Bankers Association (SBA) contains general information on typical financial services and on the characteristics and risks of financial instruments.

9. Handling of complaints

Client feedback and complaints are best addressed directly to iAccess Partners as follows:

info@iaccesspartners.com

Clients should include the reason as well as their contact details and account number in their complaint. iAccess Partners will endeavour to handle all feedback and concerns as quickly as possible. If a client perceives a response to be inadequate, iAccess Partners would like to be informed so that the situation can be rectified. Should a client be dissatisfied with the way iAccess Partners has dealt with their concern, the client may contact the Ombudsman as follows:

Financial Ombudsman Service Switzerland (FINOS)
Talstrasse 20
CH-8001 Zurich
Phone +41 44 552 08 00
Website: www.finos.ch

10. AML-Regulations

iAccess Partners is not holding, managing or transferring client asset and therefore does not qualify as a financial intermediary under the AML Act. Client identification as well as all other due diligence obligations under the AML Act are therefore performed by the Client’s custody bank.

11. Legal information

This information was created exclusively for clients of iAccess Partners, Switzerland.

Although it has been thoroughly checked, iAccess Partners, does not accept any liability for the adequacy, accuracy, completeness, or correctness of the content of this information as, in particular, specific details may have changed following its publication.

The General Terms and Conditions (“Terms”) of iAccess Partners or any other special agreement concluded between the client and iAccess Partners shall always apply.

Zug, 20 March 2024