Our Take on Migros Bank (CH) Fonds 65 V
Migros Bank's balanced fund: 69% stocks at 0.93% TER. Solid cooperative banking, mid-table results.
Migros Bank (CH) Fonds 65 V ranks #35 among 67 3a investment funds in Switzerland. With 69% equities and 24% bonds, it sits in the growth-balanced sweet spot. The 0.93% TER is moderate for a traditional bank, and the three-year return of +26.78% is competitive. If you bank with Migros, this is a balanced option that does its job without drama.
How Does the Return Stack Up?
The three-year return of +26.78% is respectable for a 69/24 equity/bond fund. It trails LUKB Expert-Vorsorge 75 (+38.29%) which has a slightly higher equity allocation at a lower TER, but outperforms Swisscanto's 75 portfolio (+32.28%) over the same period. Wait, that looks inconsistent. The answer is that LUKB had an exceptionally strong stock selection period.
The one-year return of +4.95% is moderate. No five-year data is available yet, which limits long-term assessment. The 0.93% TER costs CHF 465 per year on a CHF 50,000 portfolio. That's more than double what VIAC or frankly charge for similar allocations.
What Actually Stands Out
Migros Bank's cooperative structure genuinely differentiates it from profit-driven banks. As part of the Migros group, the bank operates without external shareholders. This ownership model historically translates into fairer pricing and customer-first policies. It's not just marketing.
The CHF 74 million fund size is adequate for a balanced fund. Migros Bank has branches across German-speaking Switzerland and a straightforward banking approach. The active management provides the team flexibility to adjust equity and bond weights based on market outlook. The 69% equity allocation offers meaningful growth potential without going fully aggressive.
What Most Reviews Miss
Without a five-year track record, you're relying on three years of data to judge this fund. Three years captures a partial market cycle at best. The absence of swing pricing means you absorb the full impact of other investors entering or exiting the fund, which can create minor performance drag over time.
The 0.93% TER is fair by traditional bank standards but roughly 2x what digital platforms charge. For a fund that ranks #35 out of 67, the cost-to-performance ratio is average. The cooperative ethos is appealing, but it doesn't directly translate into lower fund fees or higher returns. It's a trust factor, not a performance factor.
The Bottom Line
Migros Bank Fonds 65 is a decent balanced 3a fund from a bank with genuine cooperative values. The three-year performance is competitive, and the 0.93% TER is reasonable for a traditional bank. It won't top any rankings, but it won't disappoint either. If you bank with Migros and want balanced growth, it works. See all options in our guide to the best 3a investment funds in Switzerland.
Verdict: A reliable balanced choice for Migros Bank customers who value cooperative banking, but cost-conscious investors have cheaper alternatives.
Pros
- Good 3-year performance (+26.8%)
- No custody fee
Cons
- Higher total costs (0.93% p.a.)
- Active management = higher fees
- Limited track record (no 5-year data)
- Smaller fund size
- No swing pricing protection
Product Details
At a Glance
- 69% stocks allocation
- TER: 0.93%
- Actively managed
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Asset Allocation
Stocks
69%
Bonds
24%
Other
7%
Investment Strategy
Actively-managed fund
Fund Size
CHF 74M
Depositary Bank
UBS
Swing Pricing
No
Fees & Costs
Fees & Costs
TER
0.93%
Custody Fee
Free
Performance Over Time
Historical performance of this investment fund. Past performance is not indicative of future results.
1 Year
+5.0%
3 Years
+26.8%
Retirement Projection
Based on max. contribution of CHF 7’258/year, age 30 to 65 (35 years), starting from CHF 0.
Compare to Similar Products
Frequently Asked Questions
- 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 65 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 65 V from another provider?
- Yes, you can transfer your 3a balance to Migros Bank (CH) Fonds 65 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 65 V guaranteed?
- No, investment fund returns are not guaranteed. Past performance of +26.8% over 3 years does not guarantee future results. Your capital can fluctuate with markets.
How We Rated This Product
Migros Bank (CH) Fonds 65 V was evaluated as a product using our weighted scoring system.
Ratings are updated monthly based on the latest available data. All products are evaluated using the same methodology.
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