The announcement and then Donald Trump’s turnaround on customs taxes in early April caused stock markets. In Switzerland, public pension funds have felt the effects of these CAP changes because they invest nearly a third of their funds in actions.
For the State of Geneva’s Provident Fund (CPEG), the beginning of April was hectic. “The equity market fell. The performance and value of the cash register decreased in early April,” said its director Christophe Decor in the 7:30 p.m.
The CPEG is not the only Romand Public Provident Fund to be affected. These boxes hold the 2nd pillar of thousands of officials. They lost an average of 3.38% of their total fortune in two weeks. The lessons have since been slightly raised.
>> Read also: Swiss customs tariffs do not practically concern the United States
A reserve in the event of a hard blow
In French -speaking Switzerland, public provident funds invest nearly a third of their stock market capital. To limit the risks, the Confederation requires them to constitute a reserve of fluctuation of value. It is set between 10 and 20% of their fortune.
-“This cushion has not been completely consumed,” notes Christophe Decor. “We are not attacking the part that directly affects the contributors,” he reassures.
A risk for annuities?
According to some experts, this reserve could dry up if the crisis situation continues. “A small episode will not necessarily pose a big problem for most boxes. But if it is called to last, there will be inevitable rent reductions,” warns Pietro Boschetti, historian and journalist.
For the moment, the assets of the contributors are not directly affected. At least until July 8, the date of the end of the freezing of American customs tariffs.
>> To be read again: The turbulence of the American debt, one of the keys to the turnaround of Donald Trump
Jan haesler/ami
