Thanks to proactive risk management, there was no loss in the case of Credit Suisse.

Our top priority as a responsible pension fund is to successfully and securely invest the retirement funds entrusted to us in the long term. It is also part of our responsibilities to keep risks as low as possible and to continuously monitor them.  Thanks to our many years of proactive risk management, we can reassure that the pension assets of around 2.1 billion francs are well diversified. Thus, it is not heavily dependent on events concerning individual companies. As of March 17, 2023, the positions of Credit Suisse account for around 7 million francs or 0.3% of the total assets. All liquidity accounts are always maintained at a minimum to reduce counterparty risk with Credit Suisse as much as possible.  Livica has had an intensive business relationship with Credit Suisse for many years. Together with UBS, it is a significant asset manager and a reliable custodian bank (Global Custodian). In light of the situation, it is important to keep a cool head. Based on the risk management conducted so far, there are no reasons for hasty actions.  The planned acquisition of Credit Suisse by UBS will lead to a short-term reduction in the default risk of Credit Suisse. Accordingly, there are no immediate measures that need to be taken for diversified investors. It can be assumed that the Federal Government, the SNB, and the involved banks have a great interest in a successful transaction. The board of trustees and management are closely monitoring the developments and continuously assessing the situation:

The liquidity and assets are secured, and pension benefits as well as retirement payments can be disbursed at any time.