Money market instruments

The "Money market instruments" asset class consists of liquid assets in CHF, whose yield in Swiss francs for 2024 was 1.3%. It amounted to CHF 452 million at the end of 2024, which corresponded to a share of 1.0% in the market portfolio.

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

Loans

In the reporting year the "Loans" asset class returned 3.72%.

At the end of 2024, the total value of loans granted to domestic borrowers such as cantons, municipalities or public-sector entities was CHF 1 330 million, which corresponded to a share of 3.0% of the market portfolio.

In the year under review, loans with a nominal value of CHF 88 million matured and were repaid. New loans were granted to municipalities for CHF 22 million and CHF 240 million to railways or bus companies (public transport) with a joint and several guarantee from the Swiss Confederation. The "Loans" investment category is managed by the Management Office.