SWITZERLAND - The Credit Suisse Asset Management (CSAM) Swiss Fund Index posted a 3.06 percentage points increase to 98.86 from 95.80.
Extrapolated to the total assets managed by independent Swiss pension funds, this represents an increase of SwFr12bn (e7.6bn). Total assets have recovered by as much as SwFr40bn, since the index hit a low in March 2003.
With regards to asset allocation, the foreign currency equities category demonstrated the strongest growth with 1.4 percentage points. There has been a significant fall in foreign currency bonds (-0.8 percentage points) which was matched by a corresponding rise in real estate component from 10.6% to 11.3%.
CSAM said the year as a whole was marked by a relatively high level of stability and it was not easy to identify any structural ie non-market related movements.
“What is noticeable, even if at a low level, is the constant rise in the mortgages (from 1.8 to 2.3 percentage points) and alternative investments (from 0.8 to 1.3 percentage points) components,” CSAM added.
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
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