Tellco Pension Solutions with Solid Performance in September 2025

In September 2025, global financial markets presented themselves in an overall robust condition. Despite geopolitical tensions and ongoing macroeconomic uncertainties, risk assets developed positively. The US Federal Reserve lowered its key interest rate by 25 basis points, signalling the beginning of a cautious rate-cutting cycle. This decision was interpreted by the markets as a sign of monetary policy support and strengthened investor confidence.

In the United States, the S&P 500 reached new record highs thanks to the continued strength of the technology sector, while European equity markets developed more moderately. Commodities and precious metals – particularly gold – benefited from increased demand for safe havens. In Switzerland, the SNB left its key interest rate unchanged but continued to emphasise the high valuation of the franc and its readiness to intervene in the foreign exchange market.

Against this market backdrop, Tellco’s pension solutions achieved a pleasing development.

Performance as of End of September 2025 

• PULSE (return-oriented): +3.89% YTD, +0.53% in September
• PRO (security-oriented): +2.29% YTD, +0.50% in September
• Benchmark Pictet 25 Plus: +1.81% YTD, +0.47% in September

Both pension solutions developed above the benchmark in September, confirming their robust strategic orientation.

Tellco pk PULSE – Return Orientation with Broad Diversification 

The return-oriented solution Tellco pk PULSE continues to impress with a pleasing development. Both in September and since the beginning of the year, performance has been above the benchmark.

PULSE benefits from a high equity share (around 45%) and broad diversification across various asset classes such as real estate, bonds, and alternative investments. In September, global equity markets in particular showed strength: while the US market was supported by the technology sector, expectations of interest rate cuts buoyed global risk assets.

Real estate also contributed to stable development with positive monthly returns. The focus on diversification and return orientation enables PULSE to achieve above-average results in a challenging market environment.

Tellco pk PRO – Stability and Continuity in Focus

The security-oriented solution Tellco pk PRO also shows a pleasing development. It achieved performance above the benchmark both in September and since the beginning of the year, confirming its focus on stability and sustainable growth.

Swiss bonds rose by +0.4%, supporting performance, while international bonds declined only slightly. Real estate investments also recorded positive results in September.

The balanced weighting across various asset classes – including equities, real estate, and private market investments – ensures a stable overall return. Despite exchange rate effects that slightly dampened the result, PRO shows a convincing performance.

The strategy remains focused on long-term security – with the aim of achieving reliable results across different market phases.