SWITZERLAND - Extrapolated assets under management of Swiss pensions funds increased by about CHF19.5bn to more than CHF 560bn in the third quarter.
The Credit Suisse Asset Management (CSAM) Swiss Pension Fund Index gained 3.98 percentage points to hit 113.6 in the third quarter, the highest since its inception in January 2000.
The third quarter was the fifth consecutive quarter showing a positive result, and was the third best quarter recorded.
As the index performed significantly better in Q3 2005 than the statutory requirement of 2.5%, the performance gap narrowed compared to the previous quarter, falling 3.24 points to 7.37.
CSAM believes the continued good performance could mean the gap will reduce 9.37 percentage points in the space of one year regaining some of the momentum lost during 2003 where it hit a bottom of negative 90.
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.