Structuring
of Investment Products

Make all assets and strategies bankable

Actively Managed Certificates (AMCs), Credit Linked Notes (CLN) & Tracker Certificates are the ideal instruments to turn a traditional model or digital portfolio into a client's own investment product. 

But let's take a closer look at the securitisation of special, innovative assets. Currently, there are multiple ways to make such assets bankable and accessible to investors. Traditionally, an asset manager would seek individuals or institutions to invest directly into their company, real estate, or any other chosen asset.  It is possible to transfer assets to a regulated investment vehicle, like a fund, or in the case of a company, lists shares publicly.

Those options are expensive, restricted by regulations and inflexible. They are generally also not suitable for assets such as shares of young, yet disruptive startups, future earnings of profitable solar power plants, a comprehensive art collection or the mezzanine financing of a real estate project, just to name a few.

These are the innovative assets that PINS makes available to investors in the form of structured products via it's associated Swiss issuing platform for structured investment products.

A closer look at AMCs

Actively Managed Certificates (AMC) have seen a strong growth trajectory in recent years and are hailed for their flexibility and cost-efficiency. But what are possible use cases for AMC and how do they work?

AMCs are securities with an International Securities Identification Number (ISIN), which can hold as underlying almost any kind of assets. The ISIN makes them accessible to qualified, institutional, and professional investors through their deposit at a bank.  Unlike other investment products, AMCs can be launched for a wide range of investment strategies in a matter of weeks with almost negligible issuance costs for the asset manager. AMCs also offer ongoing cost benefits through their efficient management and are readily available at low minimum ticket sizes for investors. 

Every asset manager, together with PINS, may define the composition of underlying and the strategy for the product. Therefore, the asset manager may at any point in time add or remove certain underlyings from the Certificate. A client's bespoke portfolio may be structured, securitised, and subsequently launched by the issuance platform. In doing so, the underlying assets are transferred to the issuance platform and the custodian or broker of choice, then the investment products will be issued to the investors in proportion to the volume of capital subscribed to the AMC.

Disclaimer: AMCs do not constitute collective investment schemes within the meaning of the Swiss Federal Act on Collective Investment Schemes ("CISA") and are therefore neither governed by the CISA nor subject to the supervision by the Swiss Financial Market Supervisory Authority ("FINMA").

Next Generation Issuance platform 

In a nutshell, PINS' issuance platform provides an easy setup with quick time to market, cost-efficiency, daily rebalancing and secondary market, a paying agent of choice, a Swiss Securities identifier Number (ISIN) as well as the highest possible control and freedom of choice of counterparties involved.

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Advantages summarized:

• Swiss paying agent and Swiss ISIN number

• Assets held off-balance sheet

• Segragation of assets

• Eliminated counterparty risk 

• Free choice of custodians and brokers

• Issuance platform for a simple product set up with a streamlined process, financial engineering, and controlling

• Daily liquidity possible and unlimited rebalancing, free choice of denomination and wide range of reference currencies, open or closed-end maturity

• Cost efficiency and transparency

• For Qualified Investors and for certain products also Swiss retail distribution possibility

• Create own track record
   

Included services:

• Set-up, structuring, issuance, and maintenance of financial product including lifecycle management

• Factsheet, term sheets, and documentations

• Accounts at paying agents, custodians, and brokers, also for special assets

• Providing a Swiss ISIN

• Charge of performance and management fees and distribution thereof

• Fully transparent cost structure and reporting