Migros Bank (CH) Fonds 45 V

Migros Bank's balanced fund quietly manages CHF 337 million. Reliable, but not exciting.

Migros Bank (CH) Fonds 45 ranks #70 among 90 3a investment funds in Switzerland. It's the middle child of Migros Bank's 3a range, splitting roughly 50/40 between stocks and bonds. With a recognizable brand and reasonable fees, it appeals to investors who value simplicity and trust over bleeding-edge optimization.

Are the Fees Competitive?

The 0.92% TER places this fund in the mid-range. It's cheaper than most cantonal bank sustainability funds (which often charge 1.20%+), but it's significantly pricier than digital providers offering similar allocations at 0.40-0.50% all-in. On a CHF 50,000 balance, that 0.50% difference costs you about CHF 250 per year.

The five-year return of +18.82% and three-year return of +22.28% are both solid for a balanced fund. The Swiss focus in the equity portion gives it a home bias that has actually helped during periods when the franc strengthened against other currencies.

What Actually Stands Out

CHF 337 million in assets makes this one of the larger 3a funds. Size brings stability, lower per-unit costs, and virtually no risk of fund closure. Migros Bank is Switzerland's seventh-largest bank, owned by the Migros cooperative, which means no shareholder pressure to squeeze customers on fees.

The Swiss equity tilt is a deliberate choice. Rather than tracking global indices, this fund overweights Swiss companies. That's worked well historically because Swiss multinationals like Nestle, Novartis, and Roche provide global exposure through a domestically listed lens. You get currency stability as a bonus.

What Most Reviews Miss

The 0.92% TER hasn't budged in years despite fee compression across the industry. While digital providers have driven costs down dramatically, traditional bank funds have been slow to follow. Migros Bank's cooperative structure means less pressure to cut fees, which is great for service but less great for your wallet.

There's no swing pricing mechanism on this fund, unlike many competitors. That means when large investors enter or exit, you absorb some of those transaction costs. On a CHF 337 million fund this matters less than on a small fund, but it's still a missing feature that most modern funds include.

The Bottom Line

If you're a Migros Bank customer who wants a set-it-and-forget-it balanced fund, this delivers exactly what it promises. Nothing flashy, nothing concerning. But cost-conscious investors can find equivalent allocations for half the price. Explore alternatives in our guide to the best 3a investment funds in Switzerland.

Verdict: A dependable balanced fund from a trusted brand, best suited for existing Migros Bank customers who value convenience over fee optimization.