We do not offer a fund on the All-Country World Index because our global strategy with various ETFs is more favourable. The best ETF on the All-Country World Index would have a TER of 0.20 % our global strategy has a TER of 0.08 %.
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Thanks for clarity.
So technically it means that ishares SSAC could also have been part of your offer and would get the DA1 documentation if TER was 0.09%
Right?
Yes, but it would not be our favoured All-Country World ETF.
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Sadly, your global strategy leaves out Canada, Denmark, Israel, Norway and Sweden, so a bit over 4% of the world market.
So they don’t have Novonordisk in there? Or is that represented by the US listing?
You slept on Novo, it seems 
The CSIF Quality ex-CH fund has quite a lot of Novo, we can say it’s a Quality company
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31 posts were split to a new topic: Competition between Swiss robo advisors
Great!
So I wonder if someone understands the logic behind the mix of the equities part?
To me the inconsistencies seem so random. For example,
- as @Wolverine points out, some countries are missing entirely, like Canada, while some are mixed in in tiny parts (e.g. Pacific ex Japan).
- Then there is the EM IMI index (IMI meaning it includes a small part of mid and small caps), while no small caps are included anywhere else (except in the tiny swiss index)
- the choice for Europe with just 50 shares making up the stoxx 50 is a weirdly concentrated choice among so many more diverse European indices to choose from.
- mix of distributing and accumulating, why?
Basically it looks like an ACWI (ca 10% EM) with weird inconsistencies thrown in.
Any explanations?
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Sure.
They try to more or less reproduce ACWI, with weights rounded to integer percentage and using whatever ETF looks more efficient.
No really good European ETFs.
This is quite correct. They even picked up the correct index, unlike TrueWealth.
Just the best ETF on emerging markets. IMI part is not important.
They needed something of Europe without Switzerland and UK, et voilà! Euro Stoxx 50 is actually quite a big part of Euro zone stocks, it’s just it doesn’t have Europe ex EMU and is calculated differently from MSCI indices.
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Thanks, that explains some of the choices at least 
Why replicate in the first place though? No good ACWI or All World index available at all?
We get fully efficient CA ETFs on CA stock indices in IBKR, though. Automatic treaty rate (necessary data taken from US W-8BEN application).
You might know, but I wanted to mention this. But yeah, Finpension won’t have them (or any other CA outside MSCI World ETFs)
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They want to make reporting of lost withholding tax with S&P ETF and to have Switzerland as a Swiss domiciled ETF (tax efficient for Swiss investors). The rest comes from this.
On the second thought, making different geographic segments available for custom strategies is also not a bad thing.
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Nevertheless I still don’t understand why @finpension is not using retail or qualified investor classes of Swiss mutual funds, such as Swisscanto and CSIF/UBS, for Canada, Pacific ex Japan, Europe ex CH, EMU, Europe ex EMU ex CH and Switzerland.
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