On 10 June, Swiss Life Asset Managers obtained AIFM approval from the Autorité des Marchés Financiers (AIFM) for its French management company Swiss Life Asset Management (France). The new AIFM directive means the company's UCITS offering is now complete and firmly establishes Swiss Life Asset Management (France) within a European regulatory framework.

According to Jean-Pierre Grimaud, CEO Asset Managers Business: "The AIFM directive imposes a number of obligations on management companies, which are considerably more stringent than the UCITS texts, pertaining mainly to the selection of providers. This directive caters to the needs of European investors who wish to be protected and manage their assets within a reassuring and harmonised framework. Following the opening of our distribution company in Germany, this approval will naturally enable us to consolidate our growth strategy at European level. "

AIFM Directive
On 29 April 2009 the European Commission proposed a Directive on Alternative Investment Fund Managers (AIFMs) with the objective to create a comprehensive and effective regulatory and supervisory framework for AIFMs at the European level. The proposed Directive aimed at providing robust and harmonised regulatory standards for all AIFM within scope and enhancing the transparency of the activities of AIFM and the funds they manage towards investors and public authorities.

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E-Mail: media.relations@swisslife.ch

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E-Mail: investor.relations@swisslife.ch