Tellco Classic Strategy 100 V ranks #43 among 122 3a investment funds in Switzerland. It's the most aggressive option from Tellco, a provider better known for pension administration than investment management. With 99% equities and active management, it's built for growth. But the tiny fund size and a five-year record that lags passive peers raise real questions.
How Does the Return Stack Up?
The three-year return of +40.33% is solid but unspectacular for a 99% equity fund. Compare that to VIAC Global 100 at about +53.3% or frankly Extreme 95 Index at +51.50% over the same period. That's a significant gap. Without a published TER, it's hard to pinpoint exactly what you're paying, but the underperformance versus cheaper passive alternatives suggests costs are eating into returns.
The five-year return of +22.41% confirms the pattern: finpension Global 100 returned +36.99% and frankly Extreme 95 Index +38.61% over the same window. The one-year return of +13.15% also trails finpension Global 100 (+18.58%), suggesting the active management approach isn't adding the value you'd expect.
What Actually Stands Out
Tellco is a legitimate Swiss pension specialist with deep expertise in occupational pension management. The fund uses swing pricing to protect existing investors from dilution during large cash flows. This matters more in small funds where a single large withdrawal can move the needle.
The active management approach gives the portfolio manager flexibility to deviate from benchmarks. In theory, this means better downside protection during market corrections. Tellco has been operating since 2003, so the institutional experience is there even if this specific fund is relatively new.
What Most Reviews Miss
The CHF 9 million fund size is concerning. This is one of the smallest 3a funds available. Small funds have higher proportional operating costs, limited trading flexibility, and face the real risk of being closed or merged if assets don't grow. If that happens, you'll need to transfer your 3a to another provider.
The five-year record now covers the 2022 downturn, and it doesn't show the downside protection active management is supposed to deliver. At +22.41%, the fund trails cheap passive equity funds by roughly 15 percentage points over the same window.
The Bottom Line
Tellco Classic Strategy 100 is a workable all-equity 3a fund, but it hasn't proven it can compete with established players. The tiny fund size and a five-year record that trails passive peers make it a bet on future performance rather than a proven winner. If you want 99% equities, cheaper and more established options exist. Browse the full landscape in our guide to the best 3a investment funds in Switzerland.
Verdict: An option for existing Tellco clients who want full equity exposure, but most investors will find better value and track records elsewhere.
