The yield since the beginning of the year stands at -5.61%, indicates the big bank.
Weighed down by the negative trend in all asset classes, the pension funds in the UBS sample achieved an average performance of -1.06% in May. The yield since the beginning of the year thus stands at -5.61%, the bank with the three keys indicated on Monday in its monthly statement.
The performance range was 2.34%, oscillating between a large pension fund with more than 1 billion francs in assets under management (+0.16%), and a small one (less than 300 million) at -2.18%.
All major asset classes posted negative performance during the month under review. Unlike previous months, Swiss equities are at the bottom of the table (-4.43%), while international equities fell by 0.76%. As for bonds, those in foreign currencies (-1.17%) lost more ground than those issued in francs (-0.56%), specify the experts at UBS.
They also report that “alternative investments have failed to play their role of diversification” with private equity and infrastructure posting -1.08%, hedge funds -1.17% and real estate -0, 43%.
In their analysis, UBS economists point out that May was “just as volatile as the previous months” and anticipate further fluctuations in the months to come due to the uncertain outlook linked in particular to “the war in Ukraine and its impact on impending energy and food shortages.