Close to 90% of Swiss pension funds reviewed their asset allocation following the financial crisis, but only 67% made any subsequent changes, according to a trustee survey conducted at the Fachmesse Zweite Säule conference in Zurich this week.
Speaking at the event, Gertrud Stoller-Laternser, head of the CHF2bn (€1.42b) media pension fund SRG SSR Idée Suisse, said: “We were hit unprepared. Nobody had ever seen anything like it before and it was the first time we needed recovery measures. But the trustees stayed calm and we did not run into expensive surveys and ALM studies straight away.”