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pension funds lose again in april. swiss pension funds were already posting negative returns on average in march. market turbulence triggered by u.s. tariffs imposed by president donald trump only worsened the situation in april. the ubs survey on pension fund performance shows a minus of 1.01 percent for the month of april. in march, the figure even showed a negative return of -1.46 percent. the financial markets experienced a veritable rollercoaster ride in april, the experts emphasize. «after donald trump's announcement of ‘reciprocal’ tariffs on april 2 triggered fears of recession and a rapid slide in share prices, the subsequent 90-day suspension of most tariffs (with the exception of china) calmed the financial markets again.» trump's public criticism of fed chairman jerome powell also stoked renewed concerns about the independence of the u.s. central bank. «as a result, u.s. equities, in particular, came under significant pressure in april.». the performance of the more than 100 autonomous pension funds analyzed by the major bank ubs ranged from -2.83 to +0.85 percent. this measures the return on pension assets under management after deduction of fees. since the beginning of the year, the overall performance has been -0.53 percent and the annualized return since the survey was launched in 2006 is 3.10 percent. (graphic: ubs). with an average loss of -1.11 percent, small pension funds in particular (&<300 million francs in assets under management) fared worse than larger funds (&<1 billion in assets under management) with a loss of -0.83 percent. almost all asset classes recorded price losses in april in swiss franc terms. the best results were achieved by swiss franc bonds at +1.45 percent and directly held real estate at +0.19 percent. indirect real estate (-0.36 percent), infrastructure investments (-0.99 percent), swiss equities (-1.66 percent), foreign currency bonds (-3.35 percent), hedge funds (-4.26 prozent), global equities (-4.8 percent) and private equities (-5.45 percent) recorded negative performance. peak of uncertainty overcome. the ubs chief investment office (cio) believes that the peak of uncertainty has been overcome for the time being, but expects volatility to continue. «the white house's willingness to adjust its trade policy in the event of market turbulence is fueling hopes of constructive progress in the ongoing tariff negotiations.». the cio remains optimistic for u.s. equities. it points to the easing of trade tensions, possible interest rate cuts by the fed and structural growth drivers such as ai.
Pension Funds Lose Again in April
Swiss pension funds were already posting negative returns on average in March. Market turbulence triggered by U.S. tariffs imposed by President Donald Trump only worsened the situation in April.
The UBS survey on pension fund performance shows a minus of 1.01 percent for the month of April. In March, the figure even showed a negative return of -1.46 percent.
The financial markets experienced a veritable rollercoaster ride in April, the experts emphasize. «After Donald Trump's announcement of ‘reciprocal’ tariffs on April 2 triggered fears of recession and a rapid slide in share prices, the subsequent 90-day suspension of most tariffs (with the exception of China) calmed the financial markets again.» Trump's public criticism of Fed Chairman Jerome Powell also stoked renewed concerns about the independence of the U.S. central bank. «As a result, U.S. equities, in particular, came under significant pressure in April.»
The performance of the more than 100 autonomous pension funds analyzed by the major bank UBS ranged from -2.83 to +0.85 percent. This measures the return on pension assets under management after deduction of fees.
Since the beginning of the year, the overall performance has been -0.53 percent and the annualized return since the survey was launched in 2006 is 3.10 percent.
(Graphic: UBS)
With an average loss of -1.11 percent, small pension funds in particular (<300 million francs in assets under management) fared worse than larger funds (<1 billion in assets under management) with a loss of -0.83 percent
Almost all asset classes recorded price losses in April in Swiss franc terms. The best results were achieved by Swiss franc bonds at +1.45 percent and directly held real estate at +0.19 percent. Indirect real estate (-0.36 percent), infrastructure investments (-0.99 percent), Swiss equities (-1.66 percent), foreign currency bonds (-3.35 percent), hedge funds (-4.26 Prozent), global equities (-4.8 percent) and private equities (-5.45 percent) recorded negative performance.
Peak of Uncertainty Overcome
The UBS Chief Investment Office (CIO) believes that the peak of uncertainty has been overcome for the time being, but expects volatility to continue. «The White House's willingness to adjust its trade policy in the event of market turbulence is fueling hopes of constructive progress in the ongoing tariff negotiations.»
The CIO remains optimistic for U.S. equities. It points to the easing of trade tensions, possible interest rate cuts by the Fed and structural growth drivers such as AI.
