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Pensionskasse Stadt Zürich (PKZH)

16'647 million, -3.30%, 110.90%

Morgartenstrasse 30
8036 Zürich
+41 44 412 5555

Facts and Figures

Description Pension Fund of the city of Zürich
Category Public Pension Fund
Foundation 1913
Membership 33’991 active, 18’965 retired
Assets 16'647 million
Performance -3.30%
Funded Ratio 110.90%

Senior Contacts

Director Dr. Ernst Welti ernst.welti@pkzh.ch
Head Asset Management Dr. Jürg Tobler juerg.tobler@pkzh.ch

Assets Breakdown (31.12.2018)

Assets

Allocation

 Returns
     

Liquidity

   2.50%  

Bonds CHF

   6.00%    0.40%
Bonds non-CHF    9.40%   -3.20%
Bonds (ex-Corporate) non-CHF    9.400%   -0.10%
Bonds Corporate ex-CHF   16.70%   -5.30%

Anlagen beim Arbeitgeber, Mortgages

& Private Placements

   5.30%  
Equity Domestic    4.00%   -8.80%
Equity Foreign   22.20%   
Real Estate Domestic    9.30%    3.70%
Real Estate Foreign    5.10%   -2.20%
Private Equity    7.50%  13.30%
Hedge Funds    9.30%   -5.50%
Insurance-Linked-Securities    1.50%   -6.20%
Senior Secured Loans    1.20%   -3.00%
     

 

100%

-3.30%

Assets Breakdown (31.12.2017)

Assets

Allocation

 Returns
     

Liquidity

   2.90%  

Bonds CHF

   6.00%    0.10%
Bonds non-CHF   13.80%    0.70%
Bonds non-CHF inflation-linked    3.90%    2.30%
Bonds Corporate ex-CH    6.90%   -0.50%
Anlagen beim Arbeitgeber & Mortgages    4.50%  
Equity Domestic   5.60%  19.80%
Equity Foreign   26.90%   
Real Estate Domestic    8.40%    6.40%
Real Estate Foreign    4.80%    6.10%
Private Equity    6.60%  14.90%
Hedge Funds    9.10%    3.00%
Insurance-Linked-Securities    2.00%   -0.90%
     

 

100%

 8.60%

Assets Breakdown (31.12.2016)

Assets

Allocation

 Returns
     

Liquidity

   3.00%  

Bonds CHF

   8.50%    0.70%
Bonds non-CHF    5.60%    1.10%
Bonds non-CHF inflation-linked    4.10%    3.00%
Bonds Corporate ex-CHF    4.20%  
Anlagen beim Arbeitgeber    3.10%  
Mortgages    1.10%  
Equity Domestic   6.70%   -1.40%
Equity Foreign  32.80%    8.10%
Real Estate Domestic    8.70%    6.40%
Real Estate Foreign    4.80%    4.70%
Private Equity    6.40%    6.10%
Commodities    1.30%   24.80%
Hedge Funds    9.70%   -0.80%
     

 

100%

 4.50%

Assets Breakdown (31.12.2015)

Assets

Allocation

 Returns
     

Liquidity

   2.60%  

Bonds CHF

   9.50%  
Bonds non-CHF    9.40%   -1.10%
Bonds non-CHF inflation-linked    4.00%   -1.00%
Anlagen beim Arbeitgeber    4.10%  
Mortgages    1.20%  
Equity Domestic   6.10%    2.70%
Equity Foreign   32.00%   -0.20%
Real Estate Domestic    8.50%    6.70%
Real Estate Foreign    4.50%    7.10%
Private Equity    6.50%    9.40%
Commodities    1.90% -32.20%
Hedge Funds    9.80%   -0.30%
     

 

100%

 -0.10%

Assets Breakdown (31.12.2014)

Assets

Allocation

 Returns
     

Liquidity, Annuities & Mortgages

 8.20%  

Bonds CHF

11.50%  
Bonds non-CHF 10.20%  8.80%
Bonds non-CHF inflation-linked  4.30%  3.70%
Equity Domestic  5.50% 12.10%
Equity Foreign 31.00%  9.50%
Real Estate Domestic  7.90%  7.20%
Real Estate Foreign  4.70% 18.30%
Private Equity  5.90% 18.70%
Commodities  1.80% -32.50%
Hedge Funds  9.00%   6.70%
     

 

100%

 7.10%

Assets Breakdown (31.12.2013)

Assets

Allocation

Returns
     

Liquidity, Money Market and Mortgages

12.40%  

Bonds CHF

11.90%  
Bonds non-CHF 12.60% -1.40%
Bonds non-CHF inflation-linked 4.20% -6.90%
Equity Domestic 5.20% 24.90%
Equity Foreign 26.10% 23.80%
Real Estate Domestic  8.60%  4.70%
Real Estate Foreign  3.70%  8.00%
Private Equity  5.10%  9.40%
Commodities  2.50%  0.70%
Hedge Funds  7.80% 11.00%
     

 

100%

6.50%

Assets Breakdown (31.12.2010)

Assets

Allocation

Returns
     

Liquidity, Annuities

and Mortgages

8.30% 3.10%

Bonds and

Money Market CHF

13.80% 3.60%
Bonds non-CHF 9.60% 3.20%
Bonds non-CHF inflation-linked 7.00% 4.80%
Equity Domestic 5.60% 1.90%
Equity Foreign 31.50% 9.80%
Real Estate Total 9.80%  
Real Estate Domestic 7.90% 7.80%
Real Estate Foreign 1.90% 12.70%
Private Equity 4.60% 14.20%
Commodities 2.40% 8.60%
Hedge Funds 6.70% 6.30%
Liquidity Overlay 0.70%  
     

 

100%

4.60%

Assets Breakdown (31.12.2009)

Assets

Allocation

Returns
     

Liquidity, Annuities

and Mortgages

9.10% 3.20%

Bonds and

Money Market CHF

16.60% 4.60%
Bonds non-CHF 12.90% 4.70%
Bonds CHF inflation-linked 6.10% 7.80%
Equity Domestic 5.10% 23.20%
Equity Foreign 27.50% 34.10%
Real Estate Total 9.20%  
Real Estate Domestic 7.40% 8.50%
Real Estate Foreign 1.80% 1.10%
Private Equity 4.70% -17.80%
Commodities 2.50% 9.20%
Hedge Funds 6.40% 9.00%
Currency Hedge -0.10%  
     

 

100% 10.70%

Assets Breakdown (31.12.2008)

Assets

Allocation

Returns
     

Liquidity, Annuities

and Mortgages

10.50% 3.60%

Bonds and

Money Market CHF

23.60% 6.00%
Bonds non-CHF 23.60%  
Equity Domestic 3.70% -33.50%
Equity Foreign 15.90% -43.50%
Real Estate 9.10%  
Private Equity 4.60% -6.70%
Commodity 0.00% -2.70%
Hedge Funds 5.70% -15.00%
Currency Hedge 3.30% 5.70%
     

 

100% -18.30%

 

Investment Advisors

Liquidity


Syz, Zurich; Pictet, Geneva; PostFinance AG, Bern; ZKB, Zürich

Bonds CHF (listed and

non-listed)

Pictet, Geneva; Swisscanto, Zurich; UBS, Zurich; GAM

Bonds non-CHF PIMCO, London; Aberdeen Standard, Edinburgh; BlackRock, London; Morgan Stanley IM, London
Equity Domestic ZKB, Zurich
 
Equity Foreign

Baillie Gifford, Edinburgh; Credit Suisse, Zurich; Pictet, Geneva; ZKB, Zurich; Coronation, Kapstadt; Unigestion, Geneva; Westwood, Boston

Private Equity

Adams Street Partners, Chicago; Testina , Zurich; Avadis, Baden; Portfolio Advisors, Darien, USA.

 Insurance-Linked- Securities

Cambridge Associates, London

Fund-of-Hedge-Funds

Prime Capital AG, Frankfurt

 Global Custody

  Banque Pictet & Cie SA, Geneva