Asset allocation
The table below shows the actual allocation of the Fund’s financial assets as at 31 December 2024 compared with the strategic allocation. Investments are rebalanced every month in order to remain close to the strategic allocation. Variances are, however, inevitable due to natural fluctuations in financial markets.
| Allocation in % | Actual allocation | Strategic allocation |
|---|---|---|
| Cash and short-term investments | 1.1 | 2.0 |
| Equities | 27.6 | 28.0 |
| Private-equity investments | 12.0 | 7.0 |
| Bonds | 38.6 | 40.0 |
| Swiss real estate | 16.2 | 16.0 |
| International real estate | 2.4 | 3.0 |
| Infrastructure | 1.8 | 4.0 |
| Hedge funds* | 0.2 | 0.0 |
| Total | 100.0 | 100.0 |
* This percentage corresponds to residual investments in hedge funds that cannot be liquidated quickly.