Money market instruments

The asset class «Money market instruments» consists of liquid assets in CHF and USD, whose yields in Swiss francs for 2021 were –0.1% for CHF, and –1.5% for USD. It amounted to CHF 916 million at the end of 2021, which corresponded to a share of 2.4% in the market portfolio.

The asset class «Money market investments» is handled by the Management Office.

Loans

In the reporting year the asset class «Loans» returned –1.2%.

At the end of 2021, the total value of loans granted to domestic borrowers such as cantons, municipalities or public-sector entities was CHF 1 391 million, which corresponded to a share of 3.6% of the market portfolio.

In the year under review, loans with a nominal value of CHF 348 million matured and were repaid, while new loans were granted to municipalities for CHF 28 million, to railways for CHF 15 million with a joint and several guarantee from the Swiss Confederation, to a company with a guarantee from the Canton of Vaud for CHF 11.3 million, and to cantonal banks for CHF 15 million.

The investment category «Loans» is administrated by the Management Office.

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