Swiss pension funds rise to second‑largest mortgage lender as July returns turn slightly negative

A 2025 study by Moneypark and Helvetia shows Swiss pension funds now hold CHF 34 billion in mortgage assets, overtaking insurers and becoming the second‑largest provider after banks in a market that has grown to about CHF 1.3 trillion. Ten years earlier, pension‑fund holdings were less than half that amount.

In July 2026, Swiss pension funds posted an average portfolio return of –0.20 percent, according to Swisscanto. Commodities delivered the strongest gain (+2.15 percent), followed by private‑equity (+1.28 percent) and domestic equities (+0.73 percent). Bonds and real estate fell, with hedge‑funds down –1.68 percent. Year‑to‑date, equities remain the top‑performing asset class.