SIFEM - Swiss Investment Fund for Emerging Markets

Merger between Obviam AG and Asteria Investment Managers SA

SIFEM AG (Swiss Investment Fund for Emerging Markets) is the Development Finance Institution (DFI) of the Swiss Confederation and is therefore an important actor of the economic development cooperation of Switzerland.

The day-to-day business management and portfolio management of SIFEM AG has been contractually delegated to Obviam AG – an asset management company based in Bern, specialised in impact investing in developing countries – and is regulated in a legal agreement between SIFEM and Obviam. Accordingly, Obviam has the mandate to plan and execute sustainable investments, and to monitor their success, as well as to mobilise private investments in developing countries and emerging markets. 

The Board of Directors of SIFEM has taken note of the planned merger between Obviam AG and Asteria Investment Managers SA. The merger should be formalised and become operational in 2021. The new company Asteria Obviam AG will be obligated to continue to fulfil the SIFEM mandate with the existing key persons in accordance with contractual provisions as well as with the Strategic Objectives defined by the Federal Council. The performance of Asteria Obviam will be subject to an ongoing monitoring and Asteria Obviam’s results will be reported on an annual basis. 

The mandate from SIFEM AG to Obviam AG will expire in mid-2022. The award of the management and investment mandates for the period following that date will be subject to a public tender.