SWITZERLAND- US fund provider Vanguard is registering eleven of its funds in Switzerland and expecting final approval from Eidgenössische Bankenkommission, the Swiss Federal Banking commission, in a few weeks.

Jérôme Field, sales and marketing director for Switzerland, Belgium and Luxembourg, says the fund range to be offered in Switzerland will consist of equity index funds linked to the MSCI Europe, Euro zone and MSCI World and the Vanguard US 500.

The actively-managed US opportunities funds, four index linked bond funds and a Euro money market fund are also being registered.

At $3bn, the volume of Vanguard’s European assets under management represents 0.5% of its total of $580bn in the US.

When Vanguard entered Europe, it set up a separate legal and marketing structure in Brussels. The European HQ, which now employs 18 professionals, will cover the Swiss market and Vanguard says it is not planning to open an office in Switzerland.

All the funds will be distributed directly to institutional investors and presentations began last week in Zurich. Vanguard has not published any goals for its market share or any targets for assets under management.

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