July 15, 2019
Pension fund
How does the Pension Fund manage the assets at its disposal? Which criteria play a role? You will find answers to these questions in the following article.
Securing benefits through asset-liability management
The Pension Fund manages its assets in such a way that the regulatory benefits are secured at all times.
Accordingly, the pension fund's investments are aligned with its obligations. Since both the investments and the obligations change over time, an annual review of the asset-liability management (ALM) takes place.
Consequently, the Board of Trustees determines the investment strategy, taking into account the results of the ALM analysis. The investment strategy is largely responsible for the return generated by the securities portfolio.
Overview of investments
| Investment strategy | Portfolio as at 01.01.2019 | ||
|---|---|---|---|
| Percentage | Percentage | in Mio. CHF | |
| Liquidity | 2% | 1,6% | 37 |
| Bonds CHF | 15% | 18,6% | 430 |
| Foreign currency bonds | 12% | 10,7% | 247 |
| Mortgages | 14% | 15,5% | 358 |
| Real estate | 22% | 21,3% | 493 |
| Swiss shares | 12% | 11,9% | 276 |
| Shares abroad | 11% | 8,8% | 204 |
| Alternative investments | 12% | 11,6% | 269 |
| Total | 100% | 100% | 2314 |
Criteria for investments of assets
The decisive criteria for the investment of assets under consideration of a long-term investment horizon are as follows
- safety and security
- sufficient diversification
- fair market return
- and the necessary liquidity.
