Presentation & reporting

The results of the study enable the Board of Trustees to come to an informed decision on the for-mulation of a risk-appropriate investment strategy, and allow it to critically examine and improve the existing strategy.
We will make an on-site presentation of the strategy at your offices. It can also be presented, if necessary, as a workshop for Board of Trustees' training in accordance with Art. 51 of the BVG.

The study will make the following information available to the Board of Trustees to be used as a basis for its decision-making:

• Analysis of the current portfolio structure and the expected portfolio development
  
• Projection of the employee benefit liabilities and cash flows, and the corresponding period dur-ing which the foundation assets are tied up, for the purposes of providing information on liquidity planning
  
• Analysis of the pension fund’s structural risk capacity based on restructuring considerations
  
• Minimum return and target return
  
• The current investment strategy, the potential short- to long-term returns on investment, the associated risk and the recommended value fluctuation reserves
  
• The current and – assuming asset allocation remains as it is now – future cover ratio provides an indication of the financial and economic risk capacity
  
• Visualisation of the situation of the current portfolio in relation to what is known as the efficiency curve of optimal portfolios
  
• The impact on the curve of the efficient portfolios of investment restrictions under the investment regulations
  
• Evaluation of the reference portfolio – taking into consideration technical and economic risk ca-pacity, target return and the efficient portfolios
  
• Anticipated future development of the cover ratio and its bandwidths in the selection of the ref-erence portfolio
  
• Information on probabilities of default and default expectations and the level of the value fluctua-tion reserves according to financial market theory
  
• Effects of stress tests (in accordance with the Swiss Solvency Test) on the evolution of the as-sets and the cover ratio
  
• Consolidation of all impact factors on assets and liabilities
  
• If required, effects of changing assumptions (e.g. portfolio development, technical interest rate, BVG minimum interest rate, conversion rate, life expectancy, etc.) on the evolution of liabilities and the cover ratio
  
• Recommendation for strategic asset allocation as defined by the proposed reference portfolio
  
• Definition of the benchmark, including bandwidths
  

Example of a graph depicting expected development of the cover ratio.