Credit Suisse Swiss Pension Fund index falls sharply

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SWITZERLAND - The Credit Suisse Swiss Pension Fund index fell by 2.4% in the second quarter, bringing its overall performance for the first half of the year to -0.06%.

After a positive 0.44% return in April, losses of 0.73% and 2.1% in May and June, respectively, tipped the index - which consists of approximately 100 pension funds - back into the red.

The loss, the first in four quarters, means the index's constituents will now need to return 11% in 2010 to meet the legally required minimum BVG return of 0.5% per quarter.

In terms of asset allocation, Credit Suisse said liquidity had increased from 7% in the first quarter to 7.8% in the second.

The pension funds within the index also increased their exposure to domestic bonds, alternatives and real estate, the latter reaching an absolute high of 19.9%.

In their equity quotas, Swiss pension funds are focusing on foreign shares in particular, Credit Suisse added.

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