All commercial transactions, management and exploitation of intangible assets, purchase and sale of all real estate, administration of social assets and management of own assets as well as participation in other companies, all in compliance with the Federal Act on Financial Services (LSFin) but excluding any activity subject to the Federal Act on Financial Institutions (LEFin) and excluding all real estate transactions in Switzerland that do not have an exclusively commercial purpose; the company may also carry out all activities directly or indirectly related to its purpose or apt to promote it and may be interested, in any form, in all companies having a similar or related purpose in Switzerland or abroad, excluding all real estate transactions in Switzerland that do not have an exclusively commercial purpose; the company may create subsidiaries or branches in Switzerland or abroad.