# Vorsorgestiftung VSAO

Vorsorgestiftung VSAO is a Pension Fund based in Bern, Switzerland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Bern, Switzerland
- **Region:** Europe
- **Address:** Bern, Switzerland
- **Assets under management:** Undisclosed
- **Website:** vorsorgestiftung-vsao.ch
- **LinkedIn:** https://www.linkedin.com/company/vorsorgestiftung-vsao

## Regulatory record

- **Reports private funds:** No

## About

Vorsorgestiftung Vsao is a public pension fund for assistant and senior physicians in Bern, Switzerland. It focuses on investments in the biotech and life science sectors.

## Sectors

- Private Credit
- Real Estate
- Hedge Funds
- Infrastructure

## People

- Heinz Mumenthaler — President of the Board of Trustees
- Christoph Rytz — Managing Director

## Questions

### Who runs investment decisions at Vorsorgestiftung VSAO?

Day-to-day management rests with Managing Director Christoph Rytz, under the oversight of a Board of Trustees chaired by Heinz Mumenthaler. The fund does not publicly detail its specific internal investment committee structure, but Swiss pension fund governance norms imply a board-level investment committee setting asset allocation bands and approving large commitments.

### What is the fund's investment strategy and asset allocation?

The fund operates a multi-asset strategy spanning direct Swiss residential real estate, global private equity, hedge funds, infrastructure, and a formal allocation to cryptocurrency. The direct property portfolio is concentrated in the Bern commuter belt, with named holdings in Zollikofen and Ostermundigen. The exact strategic asset allocation weights are not publicly disclosed.

### Is Vorsorgestiftung VSAO open to any Swiss physician, or is membership restricted?

It is a closed pension fund tied to the Verein Schweizerischer Assistenz- und Oberärztinnen und -ärzte (VSAO) professional association. Membership is restricted to medical professionals affiliated with specific employer groups, including the Hirslanden Private Hospital Group. It is not an open-market multi-employer scheme available to any physician in Switzerland.

### Does the fund invest directly in cryptocurrency, and what is the policy?

The fund has adopted a direct cryptocurrency investment policy, which is notable among Swiss pension institutions. The specific size, custody arrangements, and approved digital assets have not been publicly detailed. The existence of the policy itself signals a board-level decision to treat crypto as a distinct allocation rather than avoiding the asset class entirely.

## Related profiles

- [Vorpahl Wing Securities](https://altss.com/profile/vorpahl-wing-securities)
- [Votorantim Asset Management](https://altss.com/profile/votorantim-asset-management)

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

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