BSI Gamma Foundation
Lieber Besucher, dieser Abschnitt ist nur auf Englisch verfügbar.
BSI GAMMA Foundation (Global Asset Management Methods and Applications) is a private, Swiss foundation established by BSI SA to mark the Bank's 125th anniversary.
The mission of BSI Gamma Foundation is to promote the development of theoretical and empirical research in the following domains:
- Asset management, in particular portfolio management;
- the mechanism of capital markets, including asset pricing and the competitive structure of the fund management industry;
- the role and form of public regulation in fund management in the financial industry;
Through public announcements, researchers from the international academic community are invited to submit research proposals. The final selection by the Board of the Foundation will be based on the following criteria: relevance with the objectives of the Foundation and proven academic record.
The Foundation will facilitate the organization of public conferences to dissiminate the results of these research studies. Some conferences will be addressed to the general public, while others will be designed for specialists.
Range of activity
The Foundation's objective will be pursued through:
- the award of research mandates to personalities or institutions of recognized scientific standing in the field of Asset. Management;
- an annual conference on Global Asset Management Methods and Applications, where the research results will be presented;
- the publication, in any form, of the research results;
- the promotion of seminars and courses in the field of applied Asset Management;
- the participation in and support of similar initiatives promoted by other well renowned organisations in the field of Asset Management.
The Foundation is financed by income generated from the initial capital and an annual contribution provided for by BSI SA.
Prof. Andrea Beltratti, Chairman
Dr. Gianni Aprile
MiFID II: a model for Switzerland?
The BSI Gamma Foundation conference was held at the Franklin University in Lugano on November 11th, 2015. Taking the cue from the highly debated acceptance of the MiFID regulation in Switzerland vs FIDLEG/FINIG, the conference wanted to raise awareness on the subject and created a sparkling and interactive debate. We have been delighted to assist to the lively response of the audience.
Regulation has traditionally been a key element to determine activities in the financial sector. Since the 2008 credit crisis has increased its role, especially in banking. The MiFID Directive (Markets in Financial Instruments Directive) is a source of harmonized regulation for investment services, and has been implemented in 2007 across the 28 EU member States plus Iceland, Norway and Liechtenstein, but not in Switzerland. Key issues addressed by MiFID are passporting, client categorization, and transparency. The future introduction of a second version (MiFid II) is an opportunity to think about its impact on banks.
Is it an effective way to protect the final consumers? Does the application of MiFID make clients’ portfolios better suited to their needs? How does it affect the relation between asset managers and banks? Do pre-trade and post-trade transparency requirements make market prices more efficient? How heavy is the cost burden that MiFID imposes to intermediaries? Due to the Lugano Convention, Swiss banks that consult to EU-clients have to comply to MiFID. Would it make sense to replace FIDLEG with MiFID in combination with and opting in / opting out for banks and all customers? And finally and most importantly, how does MiFID compare to Swiss regulation from the point of view of the costs and the benefits?
Date and venue
November 11th 2015, 5.30pm – 7.00 pm
Nielsen Auditorium, Franklin University Switzerland
Via Ponte Tresa 29, 6924 Sorengo
- Michael Schneebeli
KPMG Head of Audit Banking, Financial Services
- Markus Fuchs
Chief Executive Officer, Swiss Funds & Asset Management Association (SFAMA
- Martin Janssen
Owner and CEO, ECOFIN Group
- Andreas Stepnitzka
Senior Regulatory Policy Advisor, European Fund and Asset Management Association (EFAMA).
- Andrea Beltratti
Chairman, BSI Gamma Foundation
This part of our site is devoted to the working papers produced by Gamma Foundation and by other researchers in the asset management field.
The future of socially responsible investments (February 1st, 2012)
René Stulz, Ohio University and President of BSI Gamma Foundation
Dr. Jeroen Derwall, Tilburg University
Dr. Philipp Krueger, University of Geneva
Mrs. Angela De Wolff, Board President of Conser (Responsible Investment Solutions) – Geneva
Dr. Thomas Streiff, CEO of The Sustainability Forum Zürich
Mr. Colin Melvin, CEO Hermes Equity Ownership Ltd – London
Dr. Meir Statman, Santa Clara Univ. & Dr. Denys Glushkov, The Wharton School – Univ. of Pennsylvnia
Dr. Alberta Di Giuli, ESCP Europe, Paris Campus
Mr. Philippe Desfossés, CEO of ERAFP (Etablissement de retraite additionnelle de la function publique) – Bordeaux
Mr. Jean-Philippe De Schrevel, Co-Founder of BlueOrchard, CEO of BlueOrchard Investments – Geneva
Mr. Rob Lake, Director of Strategic Development PRI – London