Category Archives: Switzerland

Belarus, Switzerland shows an interest in intensifying political dialogue | Instant News

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MOSCOW, April 14 (BelTA) – Ambassador of Belarus to Russia Vladimir Semashko and Swiss Ambassador to Russia Krystyna Marty Lang expressed interest in developing Belarusian-Swiss political dialogue when they met in Moscow on April 13, BelTA learned from the press service of the Belarusian Embassy in Russia.

“The parties exchanged views on the status of bilateral relations and expressed mutual interest in intensifying political dialogue and expanding cooperation in the fields of trade, economy, investment, humanity and other fields,” the embassy said.

“Vladimir Semashko informs Krystyna Marty Lang about the priorities of Belarus’ work and goals within the framework of integration associations such as Union State. [of Belarus and Russia] and the Eurasian Economic Union, ”the press service added.

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Switzerland rounding off: equities, real estate drives APK back in 2020 | News | Instant News

Aargauische Pensionskasse (APK), the Swiss pension fund for employees of the canton of Aargau, recorded an asset return of 3.8% in 2020.

Equities, real estate and commodities contributed to the positive results, he said. Indirect investment in Swiss real estate yields 7.7%, foreign equity 6% and commodities (hedging) 4.6%, according to the fund’s financial statements for 2020.

APK allocates 14.1% of its pension assets for foreign equity, 10% for Swiss equity, 9.2% for Swiss bonds, 6.6% for direct investment in Swiss real estate, 6.2% for real estate foundations, 4, 6% for indirect real estate, 3.9% for foreign indirect real estate, 3.3% for commodities, 4% for infrastructure projects and 1.9% for private debt.

It also invests 3% in foreign government bonds, 4.8% in foreign corporate bonds, 3.4% in hard currency emerging market debt, 1.1% in emerging market debt in local currency, 4.2% in equity emerging markets, 4.9% in mortgage loans, 2.9% in affiliated employer loans, 6.4% in general loans, 2% in insurance-related securities, 1% in other alternative investments, with remaining assets in the portfolio liquidity.

Funding assets increased by CHF0.5m last year to a total of CHF12.1bn (€ 10.9bn). Its funding ratio decreased by 0.7% year-on-year in 2020 to 104.2%.

GER covers the interest paid on pension capital, accrued liabilities, and administrative costs in the reporting year as a result of its positive performance.

The scheme applies an interest rate on pension capital of 1.25%. This will bring down the conversion rate from 5.3% to 5% from 2022.

APK collected a further pension provision of CHF225 million as a consequence of the persistently low interest rate environment and technical rate cuts. The fund’s financial stability is guaranteed only by its full reserve amount to withstand volatility in equity markets, he said.

Allianz slashed conversion rates

Allianz Suisse will gradually deduct the conversion rate used to calculate pension payments at retirement from 2022.

Allianz, which has 14,000 affiliates and 85,000 insured in Switzerland, will reduce the minimum level of pension assets for men and women from 6.60% in 2022 to 6.40% in 2023 and to 6.20% from 2024.

The conversion rate of pension assets above the mandatory share of pension work for women who are already insured in the first pillar pension system and with a minimum wage of CHF21,510 (€ 19,374) per annum will fall from 4.60% in 2022 to 4.44% in 2023 and will be 4.28% from 2024.

The conversion rate of men’s pension assets over the mandatory share of employment pension will fall from 6.65% in 2022 to 4.49% in 2023 and to 4.33% from 2024.

Plans to reform the second pillar pension system in Switzerland forecast a reduction in the conversion rate from the current 6.8% to 6.0%. Allianz has called for “rapid and significant reduction” of the conversion of the second pillar to ensure the financial stability of the system and the fair distribution of pension assets between generations.

Impact Investment PG launched a climate strategy

PG Impact Investments, which is owned by the Swiss non-profit PG Impact Investments Foundation, has launched a climate growth strategy and overhauled its executive board.

It has hired Kayode Akinola of private equity firm KKR as a new member of the board to lead a new global private equity direct investment practice. Akinola will work with Benjamin Hogan and Claude Kamga to implement a climate growth strategy.

PG has a climate growth fund with a target size of $ 300 million in the pipeline to support GHG neutrality, energy transition, electrification and a circular economy.

The University of Zurich initiates a survey of Pensionskassen investment delegates

The University of Zurich (UZH) has started a survey of investment delegates in Swiss pension funds.

The purpose of this survey is to assess the current status of investment delegations in Switzerland and the motivations behind investment delegations.

The survey is divided into two main sections, one section on Pensionskassen’s profile and the second on investment delegations.

To read the digital issue of the latest IPE magazine, click here.

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AMAG Group and Swiss-Based Solera Partners on AI-based Claims Estimation | Instant News

Solera | Audatex today announced a collaboration with AMAG Import AG, a mobility provider based in Switzerland, to test the Qapter Intelligent Estimating Artificial Intelligence (AI) claim estimation solution. After initial trials, the partners plan to assess the extent to which the solution can efficiently optimize accident claim recognition and reduce complexity.

“At the AMAG Group, customer satisfaction is always our top priority in handling claims. That’s why we are constantly looking for innovations that will allow us to improve the customer experience even further. In AI, we see a real opportunity to be able to process without being complicated

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SRC Court: Najib did not go to Switzerland to collect SRC money, prosecutors said | Instant News

PUTRAJAYA (Bernama): The Court of Appeal heard on Wednesday (14 April) that Datuk Seri Najib Tun Razak did not travel to Switzerland to return funds belonging to SRC International Sdn Bhd which the Swiss government frozen for money laundering.

In fact, ad-hoc prosecutor Datuk V Sithambaram said the former prime minister didn’t even solve the problem until he left office.

“The applicant (Najib) did not go to Switzerland to repatriate his funds back to Malaysia. My God, I did not expect this from him, because he is prime minister and finance minister at the material time.

“The SRC is Najib’s ‘baby’. He’s the only shareholder in the SRC. But he’s not trying to go to Switzerland and solve the problem,” he said.

He filed this before a three-member judge presided over by Judge Datuk Abdul Karim Abdul Jalil in Najib’s appeal hearing against his sentence and prison sentence for misuse of RM42mil in SRC International funds.

The other two judges are Datuk Has Zanah Mehat and Datuk Vazeer Alam Mydin Meera.

Sithambaram said former Finance Minister II Datuk Seri Ahmad Husni Hanadzlah had testified at the Kuala Lumpur High Court that Najib had refused to allow a government delegation to go to Switzerland to clarify issues related to the Swiss government’s frozen money.

“Petitioner (Najib) ‘s motive for this rejection is very questionable. The money (RM3.6 billion) was part of a RM4 billion loan from Pension Fund Inc (KWAP) to SRC. That is a pension fund, “he said.

Previously, Najib had testified that he had not given permission to fly to Switzerland, because Ahmad Husni did not have a “proper plan” to retrieve the frozen funds and had not submitted a formal application for that purpose either.

The Kuala Lumpur High Court on July 28 last year sentenced Najib to 12 years in prison and a fine of RM210 million after finding him guilty of seven counts of criminal breach of trust, money laundering and abuse of position, involving RM42mil in SRC International funds.

The appeal hearing continues tomorrow. – Named


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Switzerland: Custody Company to Offer DeFi, Proof of Ownership Service to Banks | Instant News

Traditional banks continue to drop their feet in DeFi waters.

METACO to Offer DeFi Services to Banks

According to a Coindesk report published on April 13, the Swiss crypto custodian firm, METACO, is expanding its range of services to allow clients to gain exposure to more specialized landscapes in the cryptocurrency industry such as decentralized finance (DeFi) and proof-of-stake (PoS) mining.

Yesterday, the company announced that it will leverage an institutional-level vault solution with trading, asset flow and tokenization technology, enabling peer-to-peer trading and access to the DeFi industry.

For the uninitiated, METAZO is located in the middle of the Swiss crypto ecosystem. The company’s clients include many large banks and financial institutions such as Standard Chartered Bank, BBVA and Gazprom Bank’s Swiss division.

Commenting on the development, Adrien Treccani, CEO and Founder of METACO noted that the first wave of demand for exposure to DeFi, staking and other similar services came from private Swiss banks serving high net worth consumers as opposed to large banks serving institutions. client.

Treccani said:

“DeFi isn’t about technical capabilities, it’s about user experience.”


“It’s about simplifying this complex smart contract interaction into something that banks (and ultimately the bank’s end clients) can use on a daily basis – generate returns, or lend or borrow – but without having to understand the deep details of some of the smart contract method calls involved. . “

Furthermore, seeing the increasing demand for DeFi and other new crypto-based services, METACO is also increasing the number of its employees to better serve clients. Recently, the company announced the appointment of two senior employees – Andre Israel, previously banking expert at Accenture as chief operating officer and former Standard Chartered Bank executive Craig Perrin as VP of sales.

Partnership with IBM

Moreover, METACO recently made a joint announcement with IBM show the IT giant’s ambition outside enterprise blockchain. Treccani added that IBM’s ambition includes the entire public decentralized protocol going forward.

“IBM has big ambitions with a public ledger and not just an allowed ledger, as an infrastructure provider,” Treccani said. “In a broad sense, custody, staking, DeFi are all direct interests of IBM. While we are presenting this joint announcement as a way to promote their fantastic hardware in the context of digital asset management, we have a shared ambition that goes beyond hardware. “

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