Livica Collective Foundation

Livica Collective Foundation

Livica Collective Foundation opened in 2001 to provide occupational pension solutions for private-sector companies in Switzerland, with RUAG MRO Holding Ltd serving as its anchor employer and primary contributor. The foundation operates as an autonomous collective foundation, allowing smaller firms and international subsidiaries to join a shared pension framework while maintaining segregated benefit plans. Its founding ties to RUAG — the Swiss state-owned defense and aerospace contractor — give the fund an unusual sponsor profile within the Swiss second pillar. The investment strategy spans real estate, infrastructure, natural resources, private debt, and hedge funds. Livica holds Swiss mixed-use properties through its affiliation with RUAG Real Estate Ltd, alongside a global commercial property book. Its infrastructure exposure and natural resources portfolio indicate a bias toward tangible, long-duration assets that match its pension liabilities. The hedge fund and private debt allocations provide additional return streams outside traditional fixed income — a posture consistent with Swiss funds seeking yield in a negative-rate environment that persisted through much of the fund's life. The fund manages its portfolio with a lean internal governance structure. Christian Priller, RUAG's Chief Financial Officer, serves on both the Foundation Board and the Investment Committee, directly linking the sponsor's financial oversight with pension asset strategy. Managing Director Raphael Joos leads the executive board. Livica belongs to ASIP, the Swiss Pension Fund Association, and Interpension, the network for autonomous collective foundations, adhering to ASIP's sustainability reporting standards. Livica's structural differentiator is its dual role as both a closed pension vehicle for RUAG and an open collective foundation for external SMEs. That architecture allows RUAG to maintain captive pension management while offering the same institutional-grade investment platform to smaller Swiss employers — a model that spreads governance costs and gives external members access to alternatives allocations rarely available at smaller standalone pension funds.