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Reto Taleghetta has resigned after six years as managing director of the Swiss city of Lucerne’s CHF 9.8 billion (EUR 10.3 billion) pension fund (Lucerner Pensionscasse, LUPK).
Tarreghetta has submitted his resignation and plans to step down in May, the plan said, without providing further details about the reason for his resignation. He joins from Swiss consulting firm Novalka AG, where he was chief executive since 2014, and has been in charge of the fund since early 2018.
LUPK is already looking for a replacement. In the interim, the fund’s chief financial officer, Rolf Haufgartner, will take over Mr. Taleguetta’s role.
Swiss media reported that Taleghetta’s exit was an unexpected move, linking it to news in early January about the future of the Kleintheater, owned by LUPK, a small theater in Lucerne that was scheduled for demolition due to toxic residue. . There are plans for a new building, but no theater space.
At the time, Tarreghetta said theater rents in new buildings would have to be much higher because the pension fund’s role is to achieve market-appropriate returns. However, he told the media that no final decision has yet been made on the building’s future.
Returns in 2023 will be around average
Meanwhile, LUPK posted a 5.1% return in 2023, outperforming its internal benchmark. The funding level increased from 105.9% year-on-year to 109.7%.
“The most important factor contributing to the positive returns was investing in stocks and bonds,” LUPK said in a press release. It added that it would stick to its decision made several years ago to increase its allocation to real assets “to benefit from partial anti-inflation measures.”
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