Investment Performance of Swiss Pension Funds and Investment Foundations

Manuel Ammann and Andreas Zingg

Swiss Journal of Economics and Statistics (SJES), 2008, vol. 144, issue II, pages 153-195

Abstract: We investigate the performance of domestic and international bond and equity portfolios of Swiss pension funds and investment foundations over the period of 1996 to 2006. We find some indications for superior skills of pension funds in international bond management even net of costs for asset management and fund administration. In contrast, we find a significant net underperformance for domestic bonds, domestic equities and international equities. For investment foundations, we find a significant net underperformance for domestic bonds and international equities, whereas for international bonds and domestic equities the null hypothesis of neither significant out- or underperformance cannot be rejected.

Keywords: Pension funds; investment foundations; Switzerland; performance analysis; investment performance (search for similar items in EconPapers)
JEL-codes: G10 G23 (search for similar items in EconPapers)
Date: 2008
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Persistent link: http://EconPapers.repec.org/RePEc:ses:arsjes:2008-ii-2

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