Frankly Moderate 45 Responsible ranks #30 among 122 3a investment funds in Switzerland. With the largest fund size in the entire frankly lineup, it's clearly the choice most Swiss investors make when they want some market exposure without going aggressive. The 45% stocks / 40% bonds split is designed for people who want to beat savings account rates but can't stomach big drawdowns.
Are the Fees Competitive?
Total cost: 0.48% (0.04% synthetic TER plus 0.44% flat fee). For an actively managed balanced fund with ESG screening and swing pricing, that's excellent. Traditional bank equivalents typically charge 0.90-1.20% for similar moderate allocations.
The three-year return of +24.35% and five-year return of +17.99% tell an interesting story. Notice the five-year figure is the lower one? The window now starts in September 2021, near the pre-2022 peak, so it includes the 2022 bond-and-stock sell-off that hit balanced funds hard.
What Actually Stands Out
CHF 738 million makes this the largest frankly fund, and fund size matters. Large funds benefit from better liquidity, lower per-unit costs, and greater stability. When markets get rough, a massive fund is less likely to face forced selling due to redemptions.
The swing pricing mechanism protects you from the costs of other investors entering or leaving. Combined with the ESG screening by Swisscanto, you get a responsible investment approach without paying a premium. The 40% bond allocation provides genuine income and stability.
What Most Reviews Miss
A five-year return below the three-year one (+17.99% vs +24.35%) shows how much the first stretch of that window cost. The 2022 double hit of falling stocks and falling bonds erased a large share of earlier gains. Moderate doesn't mean safe. It just means less extreme.
Active management hasn't helped recently either. The index version (frankly Moderate 45 Index) returned +28.36% over three years and +9.47% over one year, ahead of this actively managed version (+24.35% and +7.96%). You're paying for ESG screening and active decisions that haven't added value recently.
The Bottom Line
Frankly Moderate 45 Responsible is the comfort-zone pick for investors who want market exposure with guardrails. The massive fund size is reassuring, and the fees are fair. Just don't expect spectacular returns with a 45% equity allocation. Find out if this allocation fits your goals with our Pillar 3a product finder.
Verdict: The default choice for risk-averse investors who want ESG alignment and can accept moderate, not stellar, returns.
