In 2024, insurers and pension funds maintained diversified portfolios in an uncertain economic environment
Bulletin No. 260, article 2. In 2024, with the steepening of the yield curve (fall in short rates, stable long rates), insurers and pensions funds invested more in long-term bonds at the expense of money market collective investment undertakings (CIUs). The share of bonds in their portfolios remained high, after rising in 2023. They also continued to replace their maturing bond holdings with higher-coupon securities, leading to improved returns, especially for pension funds. Portfolios remain primarily exposed to …
30th of September 2025