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Swiss roundup: Climate strategy, exclusion policy drive PKZK's equity returns | News


By Luigi Serenelli2021-05-26T13:43:00+01:00
The climate strategy and the exclusion policy for the Pensionskasse of the city of Zurich (PKZH) set in 2020 drove the performance of its Swiss and developed countries’ equity portfolios, according to its financial results published last week.
Swiss equities returned 4.1%, above its benchmark 3.5%, while equities in developed countries achieved 15.6% in returns (currency hedged), 1.6 percentage points above its benchmark of 14.0%.
Equities made up 28.3% of the Pensionskasse’s portfolio last year, down from 29.3% in 2019. Emerging market equities yielded 13.3% (currency hedged), below its benchmark of 17.3%.
Swiss-franc denominated bonds returned 0.5% against a 0.4% benchmark. Swiss real estate yielded 7.2% against a 7.8% benchmark. In terms of foreign real estate, PKZH invests in real estate in US, European and Asian real estate investment trusts (REITs) with a focus on rental properties and in a real estate inves ....

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