# Pensionskasse Stadt Winterthur

Pensionskasse Stadt Winterthur is a Pension Fund based in Winterthur, Switzerland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Winterthur, Switzerland
- **Region:** Europe
- **Address:** Winterthur, Switzerland
- **Founded:** 1911
- **Assets under management:** 2.6B (Altss estimate)
- **Website:** pksw.ch
- **LinkedIn:** https://linkedin.com/company/pensionskasse-der-stadt-winterthur

## Regulatory record

- **Reports private funds:** No

## About

Pensionskasse Stadt Winterthur was established in 1911 by the City of Winterthur. It converted to an independent public-law entity in 2014 while retaining its mandate to cover municipal and affiliated employees. The fund pursues a strategy that combines buyouts with fund-of-funds commitments. Holdings include direct mortgage portfolios in Switzerland, mixed-use properties through Anlagestiftung Pensimo Casareal, and international exposure via Swiss Finance & Property funds and Nuveen ELOF II. Geographic reach covers Switzerland and selected global markets. Additional positions appear in Townsend Group International Portfolio and Green Bonds Immobilien. Assets total an estimated 2.6 billion USD. The investment commission is chaired by Marianne Fassbind. The fund maintains memberships in Swiss Sustainable Finance, Klima-Allianz, and ASIP. No additional offices or headcount figures are disclosed. Governance separates the Board of Trustees, chaired by Mattia Mandaglio, from day-to-day management under Stephan Keller. This structure reflects its origin as a municipal pension vehicle rather than a private family office or commercial asset manager.

## Sectors

- Real Estate
- Private Credit

## People

- Stephan Keller — CEO (Vorsitzender der Geschäftsleitung)
- Mattia Mandaglio — President of the Board of Trustees (Stiftungsrat)
- Marianne Fassbind — Vice President of the Board of Trustees and President of the Investment Commission

## Questions

### Who runs investment decisions at Pensionskasse Stadt Winterthur?

Marianne Fassbind chairs the Investment Commission. Stephan Keller serves as CEO and oversees the Geschäftsleitung.

### What asset classes does the fund deploy into?

The fund holds Swiss residential mortgages, mixed-use real estate through Pensimo Casareal, commercial assets via Nuveen ELOF II, and international fund-of-funds exposure.

### Where does the underlying capital originate?

Contributions come from the City of Winterthur and the ten affiliated institutions whose employees the fund insures.

### Does the fund participate in sustainability initiatives?

It belongs to Swiss Sustainable Finance and Klima-Allianz and follows ASIP reporting standards for sustainability metrics.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/pensionskasse-stadt-winterthur

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