Raiffeisen Futura Pension Invest Equity V

95% stocks, CHF 668 million, and a 1.25% TER. Raiffeisen's ESG equity fund charges top dollar.

Raiffeisen Futura Pension Invest Equity ranks #62 among 82 3a investment funds in Switzerland. It's the most aggressive fund in Raiffeisen's Futura sustainability range, with 95% in stocks. The five-year return of +27.61% sounds impressive until you factor in the 1.25% TER and compare to cheaper equity funds that delivered more.

Are the Fees Worth It?

At 1.25% TER, this is one of the most expensive 95% equity funds in Swiss 3a. VIAC's Global 100 costs 0.41% all-in and returned +51.49% over five years. Raiffeisen's fund returned +27.61%. That's roughly half the performance at triple the cost. The math is brutal.

The one-year return of just +0.78% is particularly concerning. While short-term performance shouldn't drive long-term decisions, a near-zero return on a 95% equity fund during a generally positive market year raises questions about the active ESG management strategy and whether the exclusions are hurting more than helping.

What Actually Stands Out

Raiffeisen's branch network is unmatched in Switzerland. With over 800 locations, it's the most accessible bank in the country, especially in rural areas. If face-to-face service matters to you, no other 3a provider comes close. The Futura sustainability framework is comprehensive, applying strict ESG criteria across all investments.

The CHF 668 million fund size is substantial, ensuring excellent liquidity and virtually zero closure risk. The Futura label means genuine engagement with companies on sustainability issues, not just negative screening. Raiffeisen actively votes at shareholder meetings and pushes for governance improvements.

What Most Reviews Miss

The significant underperformance versus cheaper peers is the unavoidable elephant in the room. A passive 95% equity fund from VIAC beat this fund by nearly 24 percentage points over five years. Even accounting for ESG preferences, that gap represents tens of thousands of francs on a typical 3a portfolio over a career.

Raiffeisen's Futura funds apply a Swiss-heavy tilt within their equity allocation. While this provides franc stability, it limits exposure to high-growth US technology stocks that have driven much of the global market's returns in recent years. The ESG exclusions further reduce the investable universe, concentrating risk in fewer companies.

The Bottom Line

Raiffeisen Futura Pension Invest Equity is for investors who value Raiffeisen's branch network and strict sustainability standards above all else, including returns. The 1.25% TER and underperformance make it hard to recommend on pure investment merit. If ESG matters but so do returns, cheaper sustainable alternatives exist. Explore options in our Pillar 3a comparison tool.

Verdict: Strong ESG credentials and unmatched branch access, but the 1.25% fee and significant underperformance versus cheaper equity funds make this a conviction-only choice.