Swiss pension funds move back to positive ground
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.
If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email firstname.lastname@example.org