Selection Process
The Terzo Pension Foundation of WIR Bank has applied the following selection criteria to determine the index investments used:
Benchmark
Each index investment is strongly oriented towards an underlying benchmark index. In order to ensure that the individual strategies are globally diversified and sensibly distributed according to asset classes and regions, the appropriate benchmark indices must be selected beforehand. Note that this preselection is not always obvious: For example, the SMI, SLI, SPI and SMIM all reflect the Swiss stock market, but they all differ greatly in terms of diversification and risk/return profile.
Quantitative Characteristics
In order to reflect the preselected benchmark indices as well and as cost-effectively as possible, the following quantitative criteria are used: product fees, trading liquidity, tracking error (deviation from the benchmark), and trading spread. These characteristics are regularly checked and guarantee an optimal and customer-oriented choice of the index investments used.
Tax Influences
In addition to quantitative criteria, tax influences also play an important role. Index funds are a major part of the investments used. These are not traded on the stock exchange and are therefore not subject to stamp duty. In the case of the remaining investment products (ETFs), stamp duty is due, but it is also reduced by VIAC’s intelligent offsetting system (see Academy).
Replication
Last but not least, the type of replication also influences the selection. Where possible, physically replicated funds are implemented. They effectively invest in the stocks of the underlying benchmark index. Investments in synthetically replicating products are avoided if possible since they are exposed to counterparty risk.
Asset List
Name | Details | ISIN | Currency | TER | Factsheet |
---|---|---|---|---|---|
Liquidity | |||||
3a Account | Liquidity WIR Bank | – | CHF | – | – |
Bonds Switzerland | |||||
CSIF CH Bonds AAA-AA | SBI AAA-AA | CH0033846350 | CHF | 0.00% | Factsheet |
CSIF CH Bonds Corporate | SBI Corporate | CH0281860111 | CHF | 0.00% | Factsheet |
Bonds World | |||||
CSIF World ex CH Gov. Bonds | CGBI WGBI ex Switzerland | CH0033210086 | USD | 0.01% | Factsheet |
CSIF World ex CH Corp. Bonds | BBG Barcl. Glob. Aggr. Corp. ex CHF | CH0189955260 | USD | 0.00% | Factsheet |
High-yield Bonds | |||||
CS Global High Yield | BBG Barclays Global High Yield Corp. | LU0340004091 | USD | 0.12% | Factsheet |
CSIF Emerging Market Bonds | JPM EMBI Global Diversified | CH0259132105 | USD | 0.08% | Factsheet |
Equity Switzerland | |||||
CSIF SMI | SMI | CH0033782431 | CHF | 0.00% | Factsheet |
UBS ETF SLI | SLI | CH0032912732 | CHF | 0.20% | Factsheet |
CSIF SPI Extra | SPI Extra | CH0110869143 | CHF | 0.00% | Factsheet |
UBS ETF MSCI Switzerland IMI SRI | MSCI Switzerland SRI | CH0368190739 | CHF | 0.28% | Factsheet |
CSIF SPI ESG | SPI ESG | CH0597394516 | CHF | 0.01% | Factsheet |
Equity Developed Markets | |||||
CSIF Europe ex CH | MSCI Europe ex Schweiz | CH0037606552 | EUR | 0.01% | Factsheet |
iShares Core S&P 500 | S&P 500 | IE00B5BMR087 | USD | 0.07% | Factsheet |
CSIF US – Pension Fund | MSCI USA | CH0030849712 | USD | 0.00% | Factsheet |
iShares Nasdaq 100 | Nasdaq 100 | IE00B53SZB19 | USD | 0.33% | Factsheet |
CSIF Canada | MSCI Canada | CH0030849613 | CAD | 0.01% | Factsheet |
CSIF Pacific ex Japan | MSCI Pacific ex Japan | CH0030849654 | USD | 0.00% | Factsheet |
CSIF Japan – Pension Fund | MSCI Japan | CH0357515474 | JPY | 0.01% | Factsheet |
CS Global Dividend Plus | MSCI World | LU0439730705 | USD | 0.12% | Factsheet |
CSIF World ex CH – Pension Fund Plus | MSCI World ex CH | CH0429081620 | USD | 0.00% | Factsheet |
CSIF World ex CH hedged – Pension Fund Plus | MSCI World ex CH | CH0429081638 | CHF | 0.00% | Factsheet |
CSIF World ex CH Small Cap – Pension Fund | MSCI World ex CH Small Cap | CH0214967314 | USD | 0.09% | Factsheet |
CSIF World ex CH Small Cap hedged – Pension Fund | MSCI World ex CH Small Cap | CH0214968353 | CHF | 0.09% | Factsheet |
UBS ETF MSCI EMU SRI | MSCI EMU SRI | LU0629460675 | EUR | 0.22% | Factsheet |
UBS ETF MSCI UK IMI SRI | MSCI UK IMI SRI | IE00BMP3HN93 | GBP | 0.28% | Factsheet |
UBS ETF MSCI USA SRI | MSCI USA SRI | LU0629460089 | USD | 0.22% | Factsheet |
CSIF US ESG – Pension Fund | MSCI USA ESG Leaders | CH0397628709 | USD | 0.02% | Factsheet |
UBS ETF MSCI Pacific SRI | MSCI Pacific SRI | LU0629460832 | USD | 0.40% | Factsheet |
CSIF World ex CH ESG – Pension Fund Plus | MSCI World ex CH ESG Leaders | CH0337393745 | USD | 0.03% | Factsheet |
CSIF World ex CH ESG hedged – Pension Fund Plus | MSCI World ex CH ESG Leaders | CH0337393851 | CHF | 0.03% | Factsheet |
iShares Global Clean Energy | S&P Global Clean Energy | IE00B1XNHC34 | USD | 0.65% | Factsheet |
Equity Emerging Markets | |||||
CSIF Emerging Markets | MSCI Emerging Markets | CH0017844686 | USD | 0.09% | Factsheet |
CSIF China Total Market | MSCI China | LU1815001406 | USD | 0.13% | Factsheet |
UBS ETF MSCI Emerging Markets SRI | MSCI Emerging Markets SRI | LU1048313891 | USD | 0.27% | Factsheet |
Real Estate Switzerland | |||||
CSIF CH Real Estate | Immobilien Schweiz | CH0036599816 | CHF | 0.00% | Factsheet |
Real Estate World | |||||
iShares US Property Yield | Immobilien USA | IE00B1FZSF77 | USD | 0.40% | Factsheet |
CSIF Europe ex CH Real Estate | Immobilien Europa ex Schweiz | CH0032044684 | EUR | 0.01% | Factsheet |
CSIF Real Estate World ex CH – Pension Fund | Real Estate World ex CH | CH0217837456 | USD | 0.01% | Factsheet |
Commodities | |||||
CSIF Gold | Gold | CH0209106761 | USD | 0.09% | Factsheet |
Alternative Investments | |||||
iShares Listed Private Equity | S&P Listed Private Equity | IE00B1TXHL60 | USD | 0.75% | Factsheet |