Pension funds with positive performance in November
Published: Monday, Dec 11th 2023, 09:00
Updated At: Monday, Dec 9th 2024, 11:40
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Swiss pension funds achieved a clearly positive performance on average in November. The good performance of the international equity markets in particular contributed to this.
The more than 100 pension funds analyzed by UBS achieved an average performance of +1.46% on their pension assets under management (after deduction of fees) in the month under review, as the major bank announced on Monday. The range went from +0.35 percent to +2.64 percent.
Almost all asset classes performed positively, with global equities (+4.73%) standing out in particular. However, foreign currency bonds (+1.94%), hedge funds (+1.59%), Swiss franc bonds (+1.42%), private equity (+1.35%), real estate indirect (+0.46%) and direct (+0.23%) as well as infrastructure investments (+0.10%) also increased in value.
Only in the Swiss equities segment (-0.25%) did pension funds suffer a small setback, with the poor performance of the index heavyweights Nestlé, Novartis and Roche likely to have been the main reason for this.
Good annual performance so far
According to UBS data, small funds also tended to perform better than larger ones in November. The performance of small pension funds (assets under management of less than CHF 300 million) was +1.53% in November, while the corresponding performance of medium-sized (CHF 300 million to CHF 1 billion) and large funds (over CHF 1 billion) was only +1.41% and +1.40% respectively.
Over the course of the year, the funds have only posted a negative performance on average in two months (October and April). Accordingly, the total return for the first eleven months is a relatively high 7.76%, with the medium-sized funds performing slightly better than the other two categories.
In 2023, the annual performance was only +4.97%. In the previous year, it was even worse at -9.58%. This was the weakest performance since the 2008 financial crisis.
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