Performance 2018

29.01.2019

Contact

Schindler Pension Fund
Zugerstrasse 13
6030 Ebikon

T. +41 41 445 3139
T. +41 41 445 3012

pk.ch@schindler.com

Performance, Investment Climate and Investments in 2018

Performance in 2018
With a performance of -1.91%, the Pension Fund reported its first negative annual result
since 2008, although it was once again above average in comparison with the UBS pension
funds barometer (-3.45%).

Details of Investment Performance
The broad diversification of our assets made it possible to limit losses across the portfolio as
a whole. Indeed, four asset classes closed 2018 in the black. Private equity investments
(+10.8%) are still benefiting from upward revaluations. In the alternative investment segment,
infrastructure (+3.2%) and alternative bonds (+2.4%) also met their targets.
Swiss real estate – which has the highest weighting at around 31% – also achieved a positive
return, of 2.2%. The Pension Fund profited from a regular rental income here.

Swiss equities (-9.6%) and foreign equities (-8.9%) recorded the greatest losses, although
their results were still comparable with those of their benchmarks. Insurance-linked securities
were significantly negative (-7.0%) for the second successive year. This unfavourable outcome
was the result of a variety of loss events, such as hurricanes, and wildfires in California.
Unlike Confederation bonds in Switzerland, corporate bonds internationally fell considerably
(-4.3%).