Institutional Investors Credit Suisse Swiss Pension Fund Index

Swiss Pension Fund Index

February 2023: –0.76%
YTD: 2.01%

Setbacks in February

The Pension Fund Index fell by 1.41 points, or –0.76%, in the month under review; this gives a change of 2.01% since the start of the year. The index stood at 192.41 points as of February 28, 2023, having risen from a baseline of 100 points at the beginning of 2000.

The lion's share of negative performance in February was attributable to bonds (–0.44%). Foreign equities made a return contribution of –0.24%, while Swiss equities contributed –0.11%. The liquidity asset category (–0.06%) additionally weighed on the monthly result, primarily due to currency hedging. Only real estate (+0.10%) performed positively. The other asset categories failed to make any impact.

The index of the BVG mandatory minimum rate of return (1% p. a. since January 1, 2017) rose by 0.13 points (+0.08%) to 160.12 points in the month under review from a baseline of 100 in January 2000. The return on the Credit Suisse Swiss Pension Fund Index was therefore –0.84% below the BVG requirement as of February 28, 2023.

The annualized return on the Credit Suisse Swiss Pension Fund Index (since January 1, 2000) amounted to 2.86% as of February 28, 2023. This contrasts with an annualized BVG mandatory minimum rate of return of 2.05%.