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Duties of an issuer of active ETFs

The duties of an issuer towards SIX Swiss Exchange (FINMA requirement) in the case of active ETFs are:

  • Regular calculation and transmittance of iNAV (generally every 15 seconds)
  • Daily submittance of current portfolio composition to SIX Swiss Exchange
  • Calculation method of iNAV to be published on website of issuer
  • Daily disclosure of full portfolio composition (with four weeks delay) on website of issuer

The Issuer shall calculate the Indicative Net Asset Value (iNAV) of the ETFs which it has issued on a continuous basis on each trading day of SIX Swiss Exchange.

The Issuer shall notify SIX Swiss Exchange of the calculated iNAV without delay, at maximum intervals of 15 seconds.

The Issuer shall publish the method used to calculate the iNAV on its website.

With reference to the detailed fund composition, the Issuer shall publish a list disclosing the full portfolio composition of the investments of the actively managed ETFs used to calculate the iNAV on its website each day with a time lag of four weeks.

The Issuer shall provide SIX Swiss Exchange with a list of the investments underlying the actively managed ETFs on a daily basis (Portfolio Composition File).

The list shall be provided in the form of Excel files sent by e-mail to .

If you have questions, please contact us.