Global Custody Solutions Credit Suisse Swiss Pension Fund Index
A comparison of Swiss pension funds
Published quarterly, the Credit Suisse Swiss Pension Fund Index gives a representative,
up-to-date picture of second pillar (employee benefit) investment activity. Thanks to the breadth of its analysis, the index accurately reflects the behavior of pension funds that have a global custody arrangement with Credit Suisse.
Credit Suisse Swiss Pension Fund Index - Q1 2018
Credit Suisse Swiss Pension Fund Index Begins 2018 with a Negative Performance
Q1 2018: -1.33%
In the first quarter, the Pension Fund index fell by –1.33% to close at a level of 170.2 points at the end of March 2018, from a baseline of 100 at the start of 2000. After a very strong 2017 (+8.05%), the Pension Fund Index underwent a significant correction in the first three months of 2018.
The bulk of the correction took place in February (–1.26%), with only slight reductions being observed in January (–0.04%) and March (–0.07%). Equities showed the biggest fall, with Swiss equities contributing –0.65% to performance and foreign equities contributing –0.47%. CHF bonds and foreign currency bonds negatively impacted the result by –0.15% and –0.05%, respectively. The contribution from alternative investments was –0.01%.
Real estate was the only asset class to deliver a positive contribution at +0.03%, while mortgages remained neutral. The negative contribution from liquidity, at –0.02%, stems from negative interest on cash holdings together with gains or losses on foreign-exchange forward transactions, which are assigned to liquidity.