ASIC has received complaints regarding the activities of Swiss Private Capital Ltd (Swiss Private) and their offers of interests in ‘Aussie Super – Superannuation Fund’.

Swiss Private purports to be a Dubai-based private investment firm with branch offices in New York, Frankfurt, Geneva and Melbourne. Swiss Private’s website claims to be ‘now managing Australian Super’ and to have average returns of over 35% per year for the last 5 years.

Swiss Private is not a company registered in Australia and does not hold an Australian financial service licence. The Melbourne address for Swiss Private is a virtual office and ASIC investigations have revealed no representatives of Swiss Private occupy or attend this address.

ASIC has successfully had the Australian and US-based Swiss Private website removed.

Members of the public have reported an unsolicited letterbox drop on the Sunshine Coast in Queensland recommending consumers switch their Superannuation to Swiss Private, offering a 20% per annum guaranteed return and a $500 rollover bonus.

Swiss Private is not a Registrable Superannuation Entity Licensee for Australian Prudential Regulation Authority (APRA) purposes, and Aussie Super is not a APRA-registered superannuation fund.

ASIC Commissioner Greg Tanzer said investors need to be cautious when offered unsolicited investment advice and products.

‘Potential investors should scrutinise all investment opportunities closely and seek professional, licensed advice before making an investment decision. If they don’t have licences, think carefully about whether you deal with them,’ Mr Tanzer said.

ASIC welcomes complaints about any possible scam or illegal investment opportunity.

Visit ASIC’s MoneySmart website for more information about reporting a scam.