Livica Updates

The financial situation remains stable despite negative returns. A review shows that Livica is very well positioned in terms of sustainable investing. Changes are occurring in the board of trustees, and the succession process has been initiated.

Financial Situation
High inflation, rising interest rates, armed conflicts, ongoing supply chain disruptions, and emerging recession fears are leading to losses in virtually all asset classes. The situation has improved somewhat in October. However, the investment markets are likely to continue to experience significant fluctuations. At the end of October, the achieved return for all employer pension schemes was around minus 10 %. The funding ratios of all pension schemes are above 100 %. Therefore, no measures are necessary, and the pension schemes can meet their obligations.

Sustainable Investing and ESG*
The highest bodies of the Livica Collective Foundation have intensively engaged with the complex issue of the sustainability of their investments. Among other things, an external, independent audit of the current investments was conducted. The result is pleasing. The audit shows that Livica is also very well positioned in terms of sustainability.
*ESG = Environment, Social & Governance

Changes in the Board of Trustees
The board of trustees had to acknowledge the resignation of its vice president Dr. Christian Ferber at the end of the year. He is leaving Beyond Gravity. During his eleven-year tenure on the board of trustees, the former HR manager of the RUAG Group and RUAG Beyond Gravity contributed significantly to ensuring that, with strategic foresight, the right topics were set at Livica. The succession process has been initiated. The larger pension schemes will be involved in the search process.