La nostra opinione su LUKB Expert-Vorsorge 45 E
0.60% TER on an actively managed balanced fund. LUKB found the pricing sweet spot.
LUKB Expert-Vorsorge 45 E ranks #33 among 67 3a investment funds in Switzerland. With 45% equities, 48% bonds, and a 0.60% TER, it's one of the best-priced actively managed balanced funds from a traditional bank. The five-year return of +24.16% and three-year return of +27.46% both outperform most peers at this allocation level. LUKB's smaller sibling delivers serious value.
Are the Fees Competitive?
At 0.60% TER, LUKB undercuts most traditional bank competitors significantly. PostFinance's comparable ESG 50 charges 1.20% (double). Swisscanto's BVG 3 Portfolio 45 doesn't publish a direct TER comparison but is likely higher. On a CHF 50,000 portfolio, you're paying CHF 300 per year, which is reasonable for active management.
The five-year return of +24.16% outperforms PostFinance ESG 50 (+19.02%) and Swisscanto 45 (+20.06%). That's a meaningful performance gap of 4-5 percentage points over five years, combined with lower fees. LUKB is winning on both cost and returns, which is a rare combination in Swiss 3a investing.
What Actually Stands Out
The performance-to-fee ratio is outstanding for a cantonal bank fund. LUKB's investment team has consistently outperformed larger, more expensive competitors at the 45% equity level. The CHF 773 million fund size provides excellent stability and liquidity, rivaling much larger institutional offerings.
LUKB is backed by a state guarantee from the Canton of Lucerne, providing an extra layer of institutional security. The fund is actively managed, meaning the team adjusts allocations based on market conditions. Over the past three years, those adjustments have clearly added value, with the +27.46% three-year return being one of the best among balanced 3a funds.
What Most Reviews Miss
The outperformance is impressive but may not be permanent. Active management tends to be cyclical: managers who outperform in one period often revert to average in the next. LUKB's team had a strong run, but the 0.60% annual fee still compounds over decades. A passive alternative at 0.20-0.40% would save you CHF 100-200 per year.
Also, LUKB is primarily a regional bank serving Central Switzerland. If you don't live in the Lucerne area, accessing the fund may require opening a remote banking relationship. The lack of a nationwide branch network could be inconvenient for some investors. Digital platforms offer a more location-independent experience.
The Bottom Line
LUKB Expert-Vorsorge 45 is arguably the best traditional bank balanced 3a fund in Switzerland. The combination of low fees, strong performance, cantonal bank security, and substantial fund size is hard to beat. If you value active management from a reputable institution, this should be on your shortlist. Compare it against all options using our Pillar 3a comparison tool.
Verdict: A standout balanced fund from a cantonal bank, delivering top-tier performance at fees that undercut most traditional competitors.
Pro
- Good 3-year performance (+27.5%)
- No custody fee
- Large fund size (stable)
Contro
- Active management = higher fees
- No swing pricing protection
- Issuing fee of 0.40%
Dettagli del prodotto
In sintesi
- 45% stocks allocation
- TER: 0.60%
- Actively managed
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Allocazione degli asset
Azioni
45%
Obbligazioni
48%
Immobili
6%
Altro
1%
Strategia di investimento
Fondo gestito attivamente
Dimensione fondo
CHF 773M
Banca depositaria
Luzerner Kantonalbank (LUKB)
Swing Pricing
No
Commissioni e costi
Commissioni e costi
TER
0.60%
Commissione di emissione
0.40%
Performance nel tempo
Performance storica di questo fondo di investimento. Le performance passate non sono indicative dei risultati futuri.
1 anno
+3.8%
3 anni
+27.5%
5 anni
+24.2%
10 anni
+50.4%
Proiezione pensionistica
Basato su un contributo max. di CHF 7’258/anno, età 30 a 65 (35 anni), partendo da CHF 0.
Confronta con prodotti simili
Domande frequenti
- What is the maximum annual Pillar 3a contribution?
- For employees with a pension fund, the maximum is CHF 7,258 per year (2025). Self-employed without a pension fund can contribute up to 20% of net income, max CHF 35,288. These amounts are fully tax-deductible.
- What are the tax benefits of this Pillar 3a product?
- Contributions to LUKB Expert-Vorsorge 45 E are fully deductible from your taxable income. Interest and returns grow tax-free. You only pay tax at a reduced rate when you withdraw at retirement.
- Can I transfer to LUKB Expert-Vorsorge 45 E from another provider?
- Yes, you can transfer your 3a balance to LUKB Expert-Vorsorge 45 E at any time without tax consequences, and Cantonal Bank of Luzern (LUKB) charges no transfer or closure fee.
- Should I choose a savings account or investment fund for my 3a?
- Savings accounts offer guaranteed returns with zero risk — ideal if you're close to retirement. Investment funds provide higher growth potential but with market risk — ideal for 10+ year horizons. Many Swiss residents split their contributions between both.
- Is the performance of LUKB Expert-Vorsorge 45 E guaranteed?
- No, investment fund returns are not guaranteed. Past performance of +24.2% over 5 years does not guarantee future results. Your capital can fluctuate with markets.
Come abbiamo valutato questo prodotto
LUKB Expert-Vorsorge 45 E è stato valutato come prodotto utilizzando il nostro sistema di punteggio ponderato.
Le valutazioni vengono aggiornate mensilmente sulla base dei dati più recenti disponibili. Tutti i prodotti vengono valutati con la stessa metodologia.
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