La nostra opinione su 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 #38 among 67 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.
Pro
- Good 3-year performance (+22.3%)
- No custody fee
Contro
- Higher total costs (0.92% p.a.)
- Active management = higher fees
- No swing pricing protection
Dettagli del prodotto
In sintesi
- 50% stocks allocation
- TER: 0.92%
- Actively managed
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Allocazione degli asset
Azioni
50%
Obbligazioni
40%
Altro
10%
Strategia di investimento
Fondo gestito attivamente
Dimensione fondo
CHF 337M
Banca depositaria
UBS
Swing Pricing
No
Commissioni e costi
Commissioni e costi
TER
0.92%
Commissione di custodia
Gratuito
Performance nel tempo
Performance storica di questo fondo di investimento. Le performance passate non sono indicative dei risultati futuri.
1 anno
+4.4%
3 anni
+22.3%
5 anni
+18.8%
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 Migros Bank (CH) Fonds 45 V 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 Migros Bank (CH) Fonds 45 V from another provider?
- Yes, you can transfer your 3a balance to Migros Bank (CH) Fonds 45 V at any time without tax consequences, and Migros Bank 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 Migros Bank (CH) Fonds 45 V guaranteed?
- No, investment fund returns are not guaranteed. Past performance of +18.8% over 5 years does not guarantee future results. Your capital can fluctuate with markets.
Come abbiamo valutato questo prodotto
Migros Bank (CH) Fonds 45 V 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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