Global Custody Solutions Credit Suisse Swiss Pension Fund Index
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A comparison of Swiss pension funds
Swiss Pension Fund Index
Q3 2022: -2.47%
YTD: -11.71%
Q3 2022: Further losses
The Pension Fund Index fell by -4.69 points, or -2.47%, in the quarter under review; this corresponds to a change of -11.71% since the start of the year. The index stood at 185.27 points as of September 30, 2022, having risen from a baseline of 100 points at the beginning of 2000. July was the only positive month (+2.89%); losses occurred once again in August (-1.61%) and particularly in September (-3.66%).
The lion's share of negative performance in the third quarter was attributable to equities (-1.58%). Swiss equities made a return contribution of -0.66%, while foreign equities contributed -0.92%. Bonds and real estate likewise weighed on the Q3 result with negative performance contributions of -0.75% and -0.03%, respectively. The other asset categories likewise failed to show a positive contribution.
Return contribution (quarterly)
Credit Suisse Swiss Pension Fund Index (01.01.2022–30.09.2022)
|
Q1 22 |
Q2 22 |
Q3 22 |
Q4 22 |
YTD |
Liquidity |
-0.03% |
-0.11% |
-0.07% |
|
-0.19% |
CHF bonds |
-1.39% |
-1.11% |
-0.61% |
|
-2.99% |
Foreign currency bonds |
-0.21% |
-0.20% |
-0.14% |
|
-0.52% |
Convertible bonds |
-0.01% |
-0.02% |
0.00% |
|
-0.03% |
Swiss equities |
-0.83% |
-1.56% |
-0.66% |
|
-2.95% |
Foreign equities |
-1.00% |
-2.42% |
-0.92% |
|
-4.18% |
Alternative investments |
0.07% |
-0.04% |
-0.04% |
|
-0.01% |
Real estate |
-0.05% |
-0.72% |
-0.03% |
|
-0.77% |
Mortgages |
-0.01% |
-0.02% |
0.00% |
|
-0.03% |
Other |
-0.01% |
-0.02% |
-0.01% |
|
-0.04% |
Total |
-3.47% |
-6.22% |
-2.47% |
|
-11.71% |
The index of the BVG mandatory minimum rate of return (1% p.a. since January 1, 2017) rose by 0.40 points (0.25%) to 159.46 points in the reporting quarter from a baseline of 100 points in January 2000. The return on the Credit Suisse Swiss Pension Fund Index was therefore -2.72% below the BVG requirement in the third quarter of 2022.
The annualized return on the Credit Suisse Swiss Pension Fund Index (since January 1, 2000) amounted to 2.75% as of September 30, 2022. This contrasts with an annualized BVG mandatory minimum rate of return of 2.07%.
The detailed evaluation of the Credit Suisse Swiss Pension Fund Index for the third quarter of 2022 is planned for publication on October 26, 2022.