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  Private Markets

  Microfinance for Swiss Institutional Investors: A Stabiliser for Fixed Income

  Twenty years of index data show microfinance earning bond-like returns at 0.6% volatility. What the c-alm study means …

  

  Private Markets

  Infrastructure: Bond Substitute or Operating Business?

  Infrastructure is Swiss pension funds' largest alternative. Why battery storage is an operating business, not a bond …

  

  Sustainability

  Responsible Investing Is Decided Asset Class by Asset Class

  Swiss pension funds have adopted responsible investing. Where impact is realistic, asset class by asset class, and how …

• October 2026
• Pensions & Insurance

  The World Is Discovering Funded Pensions. What Does That Mean for Institutionals?

  From Washington to Berlin, The Hague and London, governments are expanding funded pensions. They are doing so in very different ways, however – and the real dispute is no longer whether retirement savings belong in capital markets, but who pays, who bears the risk and whom the capital should serve.

  
• Pensions & Insurance

  The Total Portfolio Approach in a Swiss Setting

  Large asset owners abroad have replaced fixed asset-class quotas with a single reference portfolio. For Swiss pension funds, the question is how the approach can be adapted to a framework in which the board is responsible for the investment strategy – with infrastructure as a practical test case.

  
• Macro & Geopolitics

  Bonds Are Paying Again: Are we Facing a New Era of Fixed Income?

  2026 has reset bond markets: US 10-year yields above 5%, Swiss yields near 0.5%. What research, PIMCO, KKR, Deutsche …

• Sustainability

  Stewardship Is Not a Policy Document. It Is a Discipline.

  Codes, directives and the BVG voting duty have made stewardship visible, not effective. What Swiss pension fund boards …

• Private Markets

  Software Loans, Swiss Francs and the AI Credit Divide

  AI is pressuring software loans while hyperscalers borrow in Swiss francs. What the split in technology credit means …

• Private Markets

  Should Pension Funds Lend to the Frontier?

  Emerging and frontier market debt offers yield, diversification and a demographic logic. GEMs data, 2026 market figures …

• Private Markets

  Swiss Pension Funds and the Endowment Model

  Swiss pension funds hold record equity and illiquid allocations. Complementa and Swisscanto 2026 data show how close – …

• Macro & Geopolitics

  Emerging Market Corporate Bonds: Solid Balance Sheets, Thin Risk Premia

  EM hard-currency corporate bonds total around USD 2.6 trillion, mostly investment grade. Spreads are tight, so the case …