SWITZERLAND - The median manager in the Swiss Balanced Universe returned 3.9% for the second quarter, up from 2.3% in Q1, according to WM Performance Services, the performance measurement arm of State Street. This compares with benchmark returns of 4.5% for the WM Performance Services Swiss Balanced Benchmark (formerly InterSec Balanced Benchmark/IBB) and 3.7% for the Pictet BVG/LPP index.
Peter Leutenegger, vice president, marketing and sales of WM Performance Services in Zurich, said: “The second quarter saw the best quarterly results for the Swiss Universe in the last 24 months.
“This very positive result, which is roughly in line with the corresponding indices, reflects the current upward trend in the market. The underperformance of 0.6% versus the benchmark can be attributed to stock selection, as was the case with similar under performance in the first quarter.”
The universe, which consists of selected Swiss pension fund portfolios spanning a representative range of sizes and asset managers, is an industry-wide indicator of Swiss pension fund performance.
Similarly positive trends could also be seen in WM Performance Services’ two specialist mandate universes.
In the Swiss Equities universe, the median manager achieved a return of 6.1%, up 1.2 percent from the previous quarter but slightly under performing the SPI index return of 6.6%.
In the International Equities universe, the median manager posted a return of 7.2% versus the corresponding MSCI World Index of 8.0% for the quarter.
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