The Swiss Pensionskasse des Bundes is conducting an asset/liability modelling (ALM) study of its entire CHF27bn fund - the outcome of which is expected by mid-May.
The Berne-based fund for Swiss government employees began the study in April after about 48,000 postal workers left the scheme to join the new Swiss Post pension fund, Caisse de Pension Poste.
The number of departing members represented approximately one third of the total. The value of the Swiss Post portion was about CHF10m.
Head of portfolio management at the fund, Felix Senn, said that it was difficult to anticipate any results at this stage, but said that there would be some obvious changes in wages and age amongst the remaining fund members.
The current asset allocation is approximately 68% in fixed income; 25% in equities; and 7% in mortgages.
The task is being administered by Zurich-based consultants PPCmetrics.
By Madhu Kalia
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