PUBLICA’s investments delivered a pleasing performance in 2025, gaining a total of 6.6%. A number of steps have been taken over recent years to help achieve this. In 2022, PUBLICA made amendments to its strategic asset allocation that it is implementing according to plan and that had a positive impact on performance. The Swiss real estate portfolio exceeded a gross market value of CHF 4 billion for the first time. Preparations are under way for the next scheduled revision of the investment policy, which will be completed in mid-2026. PUBLICA is thus systematically pursuing its strategy of strengthening investment returns (the “third contributor”).
A further strategic focus is on simplifying structures to accompany the revision of the Federal Personnel Act and PUBLICA Act. This was adopted by the Federal Assembly in 2025, and will enable a clear separation of provisions on financing and benefits. PUBLICA began revising its regulations in 2025.
In terms of responsible investment, PUBLICA continues to rely on its range of approaches to the different asset classes. It maintained its dialogues with companies, systematically exercised its voting rights, invested in renewable energy and power transmission, and re-measured the contributions made by individual asset classes to the UN Sustainable Development Goals. The CO2 emissions of the Swiss real estate have fallen over recent years.
