(Financial) services Pension funds with positive performance in January
Swiss pension funds have made a positive start to 2025. They owe their good returns primarily to the Swiss equity market.
11.02.2025, 10:46
SDA
The more than 100 pension funds analyzed by UBS achieved an average performance of +1.67% on their pension assets under management (after deduction of fees) in January, as the big bank reported on Tuesday. This ranged from -0.1 percent to +4.32 percent.
Almost all asset classes performed positively, with Swiss equities (+7.97%) delivering particularly good returns. However, global equities also performed well with a gain of 3.18%. Bonds in foreign currencies (+0.67%), hedge funds (+0.59%), private equity (+0.38%), real estate indirect (+0.15%), real estate direct (+0.14%) and infrastructure investments (+0.09%) performed rather moderately. Bonds denominated in Swiss francs were the only exception to achieve a negative performance (-0.54%).
However, the positive performance of global equities in particular was not a sure-fire success, as the financial markets had to contend with headwinds in January. The interruption of interest rate cuts by the US Federal Reserve, the aggressive tariff policy of the new Trump administration and concerns that cheaper AI models could lead to lower demand for high-performance chips are actually reasons to exercise caution, the report continues.
Looking ahead, the experts at UBS therefore expect the outlook to be rather bleak. Investors should be prepared for volatile financial markets due to political surprises from the Trump administration.
