Farm managed by Switzerland (5)
I believe the answer is:
ranch
'farm' is the definition.
(ranch is a kind of farm)
'managed by switzerland' is the wordplay.
'managed' becomes 'ran' (both can mean organised or was in charge of).
'by' is a charade indicator (letters next to each other).
'switzerland' becomes 'ch' (short for Confoederatio Helvetica, its Latin name).
'ran'+'ch'='RANCH'
(Other definitions for ranch that I've seen before include "US livestock farm" , "tear for a poet" , "Cowboy's workplace" , "Farm on a large scale" , "stock holding?" .)