SWITZERLAND - Swiss pension funds are set to post an average growth in excess of 9% for the first three quarters of 2009, the latest Swiss institutional survey by Lusenti Partners revealed.
The consultant estimated public pension funds' performance was 9.02% at the end of September, while the returns for private funds were 9.67%.
This would represent a substantial increase from the performance of the second quarter, which was 2.82% for the public funds and 3.47% for the private ones.
Foreign equities contributed most to the boost in performance in the third quarter offering a 7.9% return for the public funds and 11.35% for the private funds.
These were followed by commodities, property, foreign bonds and Swiss equities.
The average funding level also improved from 94.8% at the end of June to 98.4% at the end of September.
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