In May 2026, financial markets continued to be shaped by a challenging environment. Geopolitical uncertainties, inflation risks and fluctuating commodity prices contributed to a cautious overall mood. At the same time, robust corporate earnings, solid fundamentals and a positive development in equity markets supported portfolios.
In this environment, Tellco pk’s pension solutions developed positively. Both PULSE and PRO reported solid funding ratios as at end-May and achieved pleasing performance.
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Funding ratio as at end-May 2026
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PULSE: 110.65% YTD, +1.85% in May
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PRO: 106.74% YTD, +2.14% in May
Performance as at end-May 2026
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PULSE: +2.27% YTD, +1.85% in May
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PRO: +2.60% YTD, +2.21% in May
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Benchmark Pictet 25 Plus: +1.45% YTD, +0.99% in May
Assessment and outlook
The development in May shows that Tellco pk’s pension solutions were able to hold their ground solidly in a market environment that remains challenging. Support came in particular from the positive development in equity markets as well as positive contributions from bonds and real estate.
At the same time, the environment remains marked by uncertainties. Inflation risks, fluctuating commodity prices and geopolitical tensions are likely to continue to accompany financial markets. A broadly diversified investment strategy that makes use of opportunities while taking appropriate account of risks therefore remains all the more important.
As at end-May, PULSE and PRO report solid funding ratios as well as positive performance. This underlines the stable development of both Tellco pk pension solutions.