2023-09-11 08:03:45
Zurich (awp) – Pension funds covered by UBS and Credit Suisse analysts observed a negative average performance of 0.57% in August. Over the first eight months of the year, the yield nevertheless still stands at 3.34%, still above the 2.93% observed on an annualized basis since the launch of the survey in 2006, indicates the bank. three keys in a report on Monday.
Its former competitor with two sails, for its part, noted in a separate publication a positive performance of 3.62% since the start of the year.
The performance was, to say the least, not homogeneous, observes UBS, with a variation corridor of 2.05 percentage points. The prize (+0.27%) went to a large establishment, managing more than a billion Swiss francs in assets. The dunce cap (-1.78%) was topped by a medium-sized fund, with 300 million to one billion in assets under management.
The 36-month performance – or Sharpe ratio – fell to 0.36, compared to 0.47 in July. The risk-adjusted return was 0.41 for medium and large funds, 0.29 for small funds.
The slowdown is explained in particular by the decline in equities both at the Swiss (-1.84%) and global level (-1.44%). Real estate eroded by 0.04%. Hedge funds, on the other hand, increased by 1.78%.
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