Piguet Galland Active Prévoyance 40 P

A private bank 3a fund with no published performance data. That's either exclusive or concerning.

Piguet Galland Active Prevoyance 40 ranks #46 among 82 3a investment funds in Switzerland. This is a private banking product with a 43/43 stock-bond split, managed by the Geneva-based boutique Piguet Galland. The 1.14% TER reflects the private bank premium, and the lack of publicly available performance history makes evaluation challenging.

What Are You Actually Paying For?

The 1.14% TER is in line with other actively managed bank funds but well above digital providers. Without published one-year, three-year, or five-year return data, it's impossible to judge whether the active management justifies this fee level. That's a problem for any informed investor trying to compare options.

On a CHF 50,000 portfolio, you're paying CHF 570 per year for fund management. A comparable allocation through frankly or VIAC would cost roughly CHF 220. Over 25 years, that CHF 350 annual difference compounds into a meaningful sum, unless the active management delivers significantly better returns.

What Actually Stands Out

Piguet Galland is a Geneva-based private bank with roots dating back to 1856. The CHF 107 million fund size is adequate, and the firm's expertise lies in active asset management for high-net-worth clients. Their 3a fund benefits from the same research team and investment process.

The private bank pedigree means more personalized service than you'd get from a large retail bank or digital provider. For investors who value a relationship with their asset manager and want face-to-face portfolio discussions, this is a genuine differentiator that most 3a providers don't offer.

What Most Reviews Miss

The absence of publicly available performance data is the elephant in the room. Every other 3a fund on the market publishes returns. When a fund doesn't, you're essentially being asked to trust the brand name without evidence. For a retirement product you'll hold for decades, that's a significant ask.

Piguet Galland's client base is primarily French-speaking, high-net-worth individuals. Their branch network is limited to a few Swiss cities. If you don't fit that profile, the private bank premium may not translate into tangible benefits for you. The 3a product is the same for everyone, regardless of your total banking relationship.

The Bottom Line

This fund is best understood as a private banking product, not a standalone 3a choice. If you already bank with Piguet Galland and want everything under one roof, it makes sense. For everyone else, the lack of performance transparency and the fee premium make it hard to recommend. Explore alternatives in our Pillar 3a comparison tool.

Verdict: A private bank 3a fund for existing clients who value the relationship, but the missing performance data makes it impossible to recommend on merit alone.