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J. Safra Sarasin Investment Foundations

The J. Safra Sarasin Investment Foundation (SAST) was established by Bank J. Safra Sarasin Ltd in 1991. SAST is regulated by the "Oberaufsichtskommission Berufliche Vorsorge" (OAK BV). It is also a member of the Conference of Managers of Investment Foundations (KGAST), whose members pledge to meet certain minimum criteria, so as to minimize any risks that extend beyond those associated with investment markets. As a result, the interests of pension fund members are especially well protected.

Admissible investors

Investment in investment groups of SAST is limited to the following Swiss pension schemes:
  • registered occupational pension schemes in accordance with Article 48 of the Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pension Plans (LPP)
  • unregistered occupational pension schemes, such as supplementary pension schemes (management funds) with clearly regulated benefits
  • vested benefit foundations in accordance with the Swiss Federal Law on Vested Benefits in Occupational Retirement, Survivors' and Disability Pension Plans and 3a foundations with the meaning of the regulations on the tax deductibility of contributions to recognised forms of pension provision
  • common and collective foundations
  • investment foundations
  • benevolent funds (patronale Wohlfahrtsfonds) with discretionary benefits and finance foundations

Your benefits

  • The size of the SAST Investment Foundation allows access to investment strategies that are otherwise only available to major investors. Our optimised investment structure ensures balanced risk diversification in accordance with the principles of modern portfolio theory. You benefit from an individual private banking service and we continuously monitor and update your portfolio.
  • Subscriptions/redemptions daily
  • Proven governance structure, together with the right to express opinions in the investors' meeting and foundation council
  • High level of security thanks to strict supervision by the external auditor and the supervisory authority ("Oberaufsichtskommission Berufliche Vorsorge", OAK BV)
  • Compliance with the provisions of the Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pension Plans and its ordinances
  • Simplified securities accounting and limited administration (reinvestment of returns, withholding tax relief/reimbursement)
  • Efficient access to a broad investment universe

Information about current rates

Our Investment Groups

LPP Investment Groups
The seven LPP investment groups available from J. Safra Sarasin Investment Foundation provide investors with an ample choice of investment strategies to ensure seamless transition from inception through to when pension savings are drawn. Staggering the strategic equities quota allows you to select at any time an investment strategy that suits the individual risk profile of your pension scheme.
Bonds Investment Groups
Fixed-interest investments continue to play a role in the portfolios of pension funds. Developments in the interest rate environment demand a more active yield-optimising management of this investment category.
Sustainable Investment Groups
Asset allocation in our sustainable investment groups is based on the economic criteria defined by the Bank's Sustainable Investment team, taking into consideration the legal investment regulations. Stock selection is based not just on financial analysis, but also on environmental and social criteria.
Sustainable Investment Group Real Estate Switzerland
Today, real estate investments belong in every pension fund portfolio. Our investment group "Sustainable Real Estate Switzerland" invests in residential and commercial properties in Switzerland, taking into account an appropriate distribution of risk. Residential properties playing an essential role accounting for approximately two thirds of the investment weighting. The investment group plays an active role in developing new buildings and buys acquiring existing properties. Old buildings can be modernised in order to improve their footprint. The investment objective is to achieve at least the net return of the benchmark over the long term whilst taking into account sustainability aspects.
Alternative Investment Group
The “Commodities ex Agro/Livestock” investment group of the J. Safra Sarasin Investment Foundation invests in commodities that are traded on international futures markets, excluding agricultural goods and livestock. The investment objective of this investment group is to achieve long-term asset growth by participating in selected commodity futures markets, while simultaneously mitigating investment risk using a systematic investment process.
The J. Safra Sarasin Investment Foundation 2 (SAST2) was established by Bank J. Safra Sarasin Ltd in 2016. SAST2 is subject to the supervision of the "Oberaufsichtskommission Berufliche Vorsorge" authority (OAK BV).

Relief of withholding tax on dividends from US equities

The investment group Equity World ex Switzerland 2 can make use of a preferential withholding tax rule and receive dividends from US equities without the deduction of withholding tax. Unlike other investment groups or institutional funds, this enables withholding tax losses on US dividends to be avoided and the total dividend to be reinvested in full without delay.

Admissible investors

Investment in investment groups of SAST2 is limited to the following Swiss pension schemes:
  • registered occupational pension schemes in accordance with Article 48 of the Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pension Plans (LPP)
  • unregistered occupational pension schemes, such as supplementary pension schemes (management funds) with clearly regulated benefits
  • vested benefit foundations in accordance with the Swiss Federal Law on Vested Benefits in Occupational Retirement, Survivors' and Disability Pension Plans
  • common and collective foundations
  • other schemes (incl. investment foundations) that are recognised as eligible pension schemes in accordance with the mutual agreement dated 25 November/3 December 2004 in conjunction with Article 10 (3) of the CH-USA double taxation agreement
Non-eligible pension schemes are "pillar 3a" foundations, welfare foundations and finance foundations.

Your benefits

  • Receive dividends from US equities without the deduction of withholding tax
  • No Swiss stamp duties thanks to the use of specially single-investor funds
  • No issuance commission
  • Subscriptions/redemptions daily
  • Proven governance structure, together with the right to express opinions in the investors' meeting and foundation council
  • High level of security thanks to strict supervision by the external auditor and the supervisory authority ("Oberaufsichtskommission Berufliche Vorsorge", OAK BV)
  • Compliance with the provisions of the Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pension Plans and its ordinances
  • Simplified securities accounting and limited administration (reinvestment of returns, withholding tax relief/reimbursement)
  • Efficient access to a broad investment universe

Information about current rates

Investment groups

Equities World ex Switzerland 2
The investment objective of this investment group is to achieve long-term growth in capital. Investments are made in equities worldwide, excluding companies domiciled in Switzerland. At least 75% of the investments are made in companies with market capitalisation exceeding USD 5 billion. These are typically large caps. Additional investments are made in attractive mid caps. Blue chips, i.e. companies with attractive business activities, strong market positions, positive (organic) growth, sustainable business models, a good reputation, solid and proven management success, robust balance sheets and high free cash flow, constitute the lion’s share of investments. Investments are made on a long-term horizon.
Date: 21.09.2020
Investment Groups NAV Subscription Redemption Valor
LPP Yield Tranche A 1'369.00 1'369.00 1'369.00 2455689
LPP Income Tranche A 1'552.00 1'552.00 1'552.00 1016859
LPP Growth Tranche A 2'165.00 2'165.00 2'165.00 287401
LPP Future Tranche A 1'494.00 1'494.00 1'494.00 2455731
LPP Equities 80 - non-BVV2-compliant A 1'139.00 1'139.00 1'139.00 44120031
LPP Sustainability Income Tranche A 1'428.00 1'428.00 1'428.00 3543791
LPP Sustainability Tranche A 1'640.00 1'640.00 1'640.00 1016862
Swiss Franc Bonds Dynamic Hedge 1'339.00 1'339.00 1'338.00 343096
Domestic Swiss Francs Bonds 1'478.00 1'484.00 1'476.00 978277
Foreign Swiss Francs Bonds 1'336.00 1'342.00 1'334.00 1474338
Sustainable CHF Bonds 1'416.00 1'416.00 1'415.00 1474340
Sustainable CHF Bonds M 1'466.00 1'466.00 1'464.00 19339493
Sustainable International Bonds ex CHF 1'134.00 1'139.00 1'132.00 978280
Sustainable International Bonds ex CHF M 1'071.00 1'075.00 1'069.00 19339552
Sustainable Global High Yield 1'135.00 1'135.00 1'133.00 36258487
Sustainable Global High Yield M * .00 .00 .00 36258488
Sustainable Swiss Equities Domestic 2'046.00 2'048.00 2'044.00 656054
Sustainable Swiss Equities 3'878.00 3'878.00 3'870.00 1474343
Sustainable Swiss Equities M 4'052.00 4'052.00 4'044.00 19339723
Sustainable Swiss Equities Small & Mid Caps 1'907.00 1'907.00 1'903.00 27601051
Sustainable International Equities ex Switzerland 1'883.00 1'883.00 1'877.00 1474344
Sustainable International Equities ex Switzerland M 1'793.00 1'793.00 1'787.00 19340117
Commodity ex Agro/Livestock 593.00 593.00 592.00 23181215
Commodity ex Agro/Livestock M * .00 .00 .00 23228371
Sustainable Swiss real estate 1'475.99 1'475.99 1'475.99 4955026
Equities World ex Switzerland 2 1'263.00 1'263.00 1'263.00 32096336
Equities World ex Switzerland 2 M 1'292.00 1'292.00 1'292.00 32096385
* Investment group rests, price upon request

J. Safra Sarasin Investment Foundations (SAST) investment group "Sustainable Real Estate Switzerland"

A well selected real estate property can be a stable investment that holds its value well and it complements a pension fund portfolio. J. Safra Sarasin Investment Foundation (SAST) offers an investment group, "Sustainable Real Estate Switzerland" that combines the potential of real estate properties with the long-term performance prospects for sustainable investments.
The investment group "Sustainable Real Estate Switzerland" invests in real estate properties in Switzerland with about two thirds in residential housing. The investment group develops new buildings and buys existing ones. Old buildings can be retrofitted in order to meet the sustainability goals.
An investment in the "Sustainable Real Estate Switzerland" investment group is a medium to long-term capital investment, which is suitable for pension funds as a complement to existing portfolio holdings or as an alternative to direct investment in real estate properties. Asset swaps are possible.
The portfolio management is carried out by Vaudoise Investment Solutions AG, Berne. Vaudoise Investment Solutions AG is a subsidiary of Vaudoise Versicherungen Holding AG.
The investment group considers environmental and social sustainability. This is ensured by Bank J. Safra Sarasin's sustainability assessment of individual real estate properties. One of the objectives is to reduce the energy consumption and greenhouse gas emissions of the portfolio. Sustainability aspects are also taken into account in property management and technical maintenance.

SAST investment group "Sustainable Real Estate Switzerland" downloads

Portfolio “Sustainable Real Estate Switzerland”

The portfolio of "Sustainable Real Estate Switzerland" is diversified by geography, size and number of objects.
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Source: J. Safra Sarasin Investment Foundation, 2020

Overview of the Portfolio

The portfolio overview of the investment group “Sustainable Real Estate Switzerland” is available here:

Real Estate properties “Sustainable Real Estate Switzerland”

An overview and further information about the properties of the investment group „Sustainable Real Estate Switzerland“ are is available here:

Sustainability

The current sustainability report is available here:

A holistic approach to sustainability

Bank J. Safra Sarasin's sustainability approach consists of four components, which reflect different aspects of the life cycle of sustainable real estate investments and are applied by the SAST "Sustainable Real Estate Switzerland" investment group. A comprehensive sustainability analysis is integrated into the investment process on the basis of our own sustainability rating system. It enables the portfolio to be benchmarked based on ESG criteria. This allows us to create a sustainable foundation, characterised by our own construction standards and a portfolio of mainly new buildings. Where appropriate, the buildings are certified. Monitoring and reporting document the development of the portfolio and can trigger sustainability measures, with the aim of improving performance and the sustainability assessment. This comprehensive sustainability approach ensures the continuous development of sustainability, allowing us to anticipate future challenges, reduce risks and identify opportunities.
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Source: Bank J. Safra Sarasin, Research 2020

Sustainability analysis of real estate

Bank J. Safra Sarasin's sustainability analysis leads to a good understanding of real estate investment as it allows a clear view of the interdependence between economic, social and environmental criteria. Three topics are assigned to each of the three sustainability dimensions of society, economy and environment. These topics are in turn subdivided into different criteria. The dimensions, topics and criteria are included in the evaluation and are equally weighted. Comparable and measurable indicators are underpinned by the criteria. This holistic evaluation ensures that sustainability is an integral component throughout the entire life cycle of the properties

Sustainability integrated in the investment process

Sustainability is an integral part of every single stage in the investment process. The aim is to deliver sustainable performance and added value, allowing the investment group to remain attractive if compared to the KGAST benchmark for mixed-use properties. Accordingly, a comprehensive sustainability analysis is carried out for all investment proposals of the «Sustainable Real Estate Switzerland» investment group. The various stages of the investment process are explained below
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Source: Bank J. Safra Sarasin, Research 2020

Portfolio benchmark analysis

A benchmark analysis of the real estate properties based on the sustainability criteria allows the sustainability rating to be presented in transparent and relative terms. This comprehensive analysis of the properties and the portfolio as a whole helps to identify risks and opportunities. Sustainability measures can also be derived from the analysis in order to achieve added value for the portfolio and improve the sustainability rating.

Environmental management system (EMS) reporting

Bank J. Safra Sarasin's Environmental Management System (EMS) comprises annual monitoring of energy and water consumption based on invoices as well as the calculation of the resulting greenhouse gas emissions (Scope 1 and 2) at property level. A detailed analysis of the consumption data is intended to help identify inefficiencies and potential savings and enables a comparison with planning and benchmark values. Comprehensive reporting to the relevant stakeholders and decision-makers creates transparency about the status of the sustainability targets. Sustainability measures can be formulated in close consultation with the management, the investment committee and the portfolio management in order to reduce consumption and thus costs in the long term and increase the sustainability rating.