Investment & Actuarial Consulting, Controlling and Research

It is becoming increasingly difficult for institutional investors to find an investment strategy that corresponds to their risk capacity and offers a sufficiently high expected return. Accordingly, it is necessary to examine whether new risk premiums can be tapped by means of illiquid investments. The risks and opportunities of illiquid investments were presented at this conference with more than 100 participants (in German).

Pension funds are exposed to longevity risk and their managers should know how to deal with it. At our conference with 50 participants, proven experts demonstrated the current trend regarding life expectancy as well as the consequences for pension funds with regards to managing their risks (in German).

Professional risk management requires an integrated analysis of assets and liabilities. The success of the investment strategy is crucial for the achievement of the investment objectives. Asset liability management is therefore one of the central management duties.

Swiss NPOs are becoming increasingly transparent. Compared with the previous year, the proportion of NPOs publishing their balance sheets and income statements online rose from 86% to 91%. The level of detail in reporting varies greatly – 24% of the surveyed NPOs publish their securities allocation. For the first time, the NPO yearbook ("Jahrbuch der Hilfswerke"), an analysis of around 500 Zewo-certified organisations, also included individual evaluations over three years (Management Summary available in English).

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MyPPCmetrics is an interactive web platform for PPCmetrics clients. It offers easily comprehensible step-by-step instructions and allows individual performance and simulation analyses, extensive peer group comparisons as well as a comprehensive insight into the structure and investment behaviour of institutional investors.

For the fourth time, PPCmetrics publishes the study "Analysis of the Annual Reports of Pension Funds" (in German). Information on the state of Swiss pension funds is of considerable interest to insured persons, pension fund managers and the general public. In addition to the key figures shown last year, this publication includes a chapter on the absolute return of pension funds in 2017. It also shows the relationship between the absolute return and the effective interest for active insured persons in 2017.

The investment year 2017 was especially characterised by very high positive returns in Swiss and global equities. As in the years before, Swiss real estate reported positive returns. Swiss and global bonds, however, reported only marginally positive or slightly negative returns (EUR edition here) (in German).

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Illiquid Assets

The PPCmetrics publication "Illiquid Assets" illustrates the aspects that should receive special attention when participating in illiquid investments. Among other things, the publication (in German) addresses topics such as the structure of the fund vehicle, legal requirements and difficult monitoring and it explains why accurate investment planning is recommendable.

The PPCmetrics publication “Nachhaltige Anlagen” (in German) illustrates the increasing importance of sustainable investments, provides an overview on different investment options and enlarges on sustainability aspects across the entire investment process.