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City of Bern Pension Fund
The City of Bern Pension Fund (PVK) serves as the occupational pension vehicle for municipal employees of the Swiss capital, with the City of Bern acting as...
City of Bern Pension Fund
The City of Bern Pension Fund (PVK) serves as the occupational pension vehicle for municipal employees of the Swiss capital, with the City of Bern acting as its founding guarantor. The fund insures workers from affiliated entities including Bernmobil, the city's public transport operator. Managed under the direction of Jürg Schad, PVK operates within Switzerland's highly regulated second-pillar framework, which mandates minimum returns and coverage ratios that shape asset allocation across Swiss pension funds. Strinati's portfolio extends across traditional fixed-income and equity allocations typical of Swiss public pension schemes, but the fund separates itself through direct ownership of residential property. PVK holds a portfolio of apartment buildings in the Bern and surrounding metropolitan area, and has acted as a developer through projects like the Europaplatz residential complex in central Bern. On the credit side, the fund originates mortgage loans directly within Switzerland, a practice common among large Swiss pension funds seeking duration-matched, franc-denominated yield. This creates a capital stack that pairs liquid, global market exposure via equities and bonds with locally hard-coded, inflation-responsive assets. The fund participates in collaborative investor initiatives, joining the Ethos Engagement Pool to coordinate shareholder engagement on Swiss corporate governance matters. PVK is also a signatory to the Institutional Investors Group on Climate Change (IIGCC), aligning its stewardship posture with broader European institutional pressure on carbon transition planning. The fund maintains links to the Ethos Foundation, a Geneva-based shareholder advocacy organization prominent in Swiss pension circles. Headcount and total assets are not publicly disclosed by the fund. PVK's structural distinction lies in its embedded municipal character: a public-law entity with direct fiscal and governance ties to the city it serves, originating mortgages and holding residential roofs its own members may live under. This alignment — where pension liabilities are partially matched by the physical housing stock of the same metropolitan area — creates a feedback loop uncommon in externally managed asset pools. The fund's restraint from publishing detailed financial data or participating in industry benchmarking reflects the conservative institutional culture of Swiss municipal pension administration.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
Switzerland
City
Bern
Corporate office
Bern, Switzerland
Principals
Jürg Schad
Managing Director
Fabio Strinati
Head of Investments and Deputy Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at the City of Bern Pension Fund?
Fabio Strinati serves as Head of Investments and Deputy Managing Director. Jürg Schad holds the Managing Director role with overall leadership responsibility. The fund's governance sits under the City of Bern as the founding public guarantor, with decisions operating inside the Swiss BVG/LPP second-pillar regulatory framework.
Does the City of Bern Pension Fund invest directly in real estate?
Yes. PVK holds a direct residential portfolio in the Bern and surrounding metropolitan area, rather than accessing property markets solely through pooled real estate funds. A notable project is the Europaplatz residential development in central Bern. This direct ownership model gives the fund local inflation exposure and full control over asset-level decisions.
How is the City of Bern Pension Fund involved in shareholder engagement?
PVK participates in the Ethos Engagement Pool, a collaborative Swiss platform for institutional investors to coordinate corporate governance dialogue with Swiss listed companies. The fund also maintains links to the Ethos Foundation and is listed as a signatory with the Institutional Investors Group on Climate Change (IIGCC), indicating a climate-focused stewardship posture.
Which employers are affiliated with the City of Bern Pension Fund?
The City of Bern itself is the founding entity and primary employer. Affiliated organizations include Bernmobil, the city's public transport operator, whose employees are insured members of the pension fund. Swiss municipal pension funds typically cover city administration, public works, and related municipal enterprises.
Does the City of Bern Pension Fund publish its asset allocation or performance?
There is no publicly available detailed breakdown of PVK's asset allocation, total assets under management, or historical performance. The fund publishes materials about benefits and pension calculations for members, but investment disclosures appear limited compared to larger Swiss public pension funds like Publica or BVK.
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