Performance as of 31 December 2020

What a crazy year! In March, we had lost in total 10% of our investments, equities had lost 20% (average, Swiss, Global and Emerging Markets). From April onwards, the recovery took place and thanks to November and December, the year finished for as with an unexpected but very comfortable return of 4.8%.

Although the annual accounts are not yet established, our preliminary calculations show that we are also able to improve the coverage ratio and the fluctuation reserve (against future market downturns).