BKB Nachhaltig Aktien (CHF) V

97% stocks, 1.26% TER, and only CHF 36 million. BKB's equity ESG fund is small, expensive, and mid-pack.

BKB Nachhaltig Aktien ranks #76 among 82 3a investment funds in Switzerland. It's the pure equity option in Basler Kantonalbank's sustainability range, with 97% in stocks. The three-year return of +26.53% sounds respectable until you compare it to cheaper equity funds that delivered 40-50% over the same period. No five-year track record is available yet.

Are the Fees Worth It?

The 1.26% TER makes this one of the most expensive equity 3a funds in Switzerland. On a 97% stock fund, you're paying active management fees for what could be replicated by a passive index at a fraction of the cost. VIAC's Global 100 charges 0.41% all-in and returned +45.26% over three years (estimated). BKB's fund returned +26.53%.

That's an 18-percentage-point gap over three years, partly explained by the TER difference and partly by active management decisions. On a CHF 50,000 portfolio, the 1.26% TER costs you CHF 630 per year. Over 25 years, that fee burden seriously undermines the whole point of choosing an aggressive equity allocation for growth.

What Actually Stands Out

Swing pricing protects existing investors from transaction costs, which is important in a small fund with more volatile flows. BKB's sustainability criteria are comprehensive, applying the same standards across their entire Nachhaltig range. The CHF-denominated focus provides some currency hedging versus purely global funds.

The cantonal bank backing from Basel-Stadt provides institutional security and a state guarantee. For investors who want pure equity exposure with a sustainability mandate through a traditional bank, BKB is one of the few options. The active management approach allows the team to tilt toward specific ESG themes.

What Most Reviews Miss

The CHF 36 million fund size is a genuine concern. Small funds have disproportionately high per-unit costs, less efficient trading, and higher closure or merger risk. For a retirement product you might hold for 20-30 years, trusting a CHF 36 million fund to survive and thrive is a meaningful act of faith.

Bank Cler's identical fund (Nachhaltig Aktien) is even smaller at CHF 14 million. Combined, the two sister funds hold just CHF 50 million. That's tiny for the equity fund category. The lack of five-year data means you're judging this fund on just three years, which is insufficient for a full market cycle assessment.

The Bottom Line

BKB Nachhaltig Aktien is the right product for a very specific investor: someone who banks with BKB, wants 97% equity exposure, insists on sustainability screening, and doesn't mind paying 1.26% for it. For everyone else, cheaper equity alternatives exist with better track records. Explore them in our guide to the best 3a investment funds in Switzerland.

Verdict: A niche ESG equity product that's too expensive and too small for most investors. The 1.26% TER erodes the growth advantage of high equity allocation.