SWITZERLAND - Pensionskassen are back in black for the second quarter but Credit Suisse's calculations are pointing downwards again.
In its quarterly Swiss pension fund index, the bank noted Pensionskassen saw a 0.2% return for the second quarter as April and May had positive gains at 2.6% and 0.5% respectively.
That said, June saw massive losses again with returns plunging to -2.9%.
The slightly positive performance is not enough to achieve the regulatory minimum return on 0.68% but it is a vast improvement to performance at the beginning of the year.
Credit Suisse had calculated Pensionskassen achieved a negative return of -5.6% in Q1 with all months being negative and January being the worst (-3.3%).
Details on the Credit Suisse report will be revealed at the end of the month.
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