Notre avis sur Tellco Classic – Strategy 25 V
26% stocks and +12.53% over three years. Tellco's conservative fund treads water.
Tellco Classic Strategy 25 V ranks #48 among 82 3a investment funds in Switzerland. It's Tellco's most conservative investment option with 26% equities and 43% bonds. The three-year return of +12.53% is modest, and at CHF 18 million, it's another small Tellco fund. For conservative investors, the question is whether this delivers enough value over a simple savings account.
What Do the Numbers Say?
The three-year return of +12.53% translates to roughly +4% annualized. That's below frankly Gentle 25 Index (+19.00%) and VIAC Global 20 (+13.05% with even less equity). The one-year return of +2.09% barely exceeds current 3a savings account rates. Without a published TER, it's hard to pinpoint the cost drag, but the underperformance pattern is consistent.
No five-year data is available, limiting the evaluation window. For a conservative fund, the returns should at least be competitive with the cheapest alternatives at similar risk levels. Right now, they're not.
What Actually Stands Out
Like its more aggressive siblings, this fund benefits from Tellco's pension infrastructure and swing pricing protection. The active management approach gives flexibility to adjust bond duration and equity exposure within the conservative mandate. In theory, this should help navigate interest rate changes.
The CHF 18 million fund is slightly larger than Tellco's other options. Tellco has institutional credibility in the Swiss pension space, managing occupational pension assets for thousands of companies. The 43% bond allocation provides a significant income component, and the 26% equity exposure adds modest growth potential.
What Most Reviews Miss
At 26% equities and 43% bonds, this fund's return profile is uncomfortably close to a 3a savings account. The best savings accounts currently offer 1.0-1.5% guaranteed interest with zero volatility. This fund returned +2.09% over the past year but with the added risk of bond and equity market fluctuations. The risk-adjusted case is weak.
The small fund size (CHF 18 million) adds another concern. Conservative 3a investors tend to be the most stability-conscious. Investing in a small fund from a mid-tier provider contradicts that preference. Larger funds from established institutions offer the same conservative exposure with far greater stability and lower closure risk.
The Bottom Line
Tellco Classic Strategy 25 is a conservative fund that doesn't clearly outperform simpler alternatives. The returns are modest, the fund is small, and established competitors offer better performance at similar or lower risk. For conservative 3a investors, a top savings account or a cheaper index fund may be a better fit. Explore all options with our guide to best Pillar 3a products in Switzerland.
Verdict: A functional conservative option for Tellco clients, but most investors will find better value in top savings accounts or low-cost index funds.
Avantages
- No custody fee
- Swing pricing protection
Inconvénients
- Active management = higher fees
- Below-average 3-year performance
- Limited track record (no 5-year data)
- Smaller fund size
Détails du produit
En un coup d'œil
- 26% stocks allocation
- TER: 0.69%
- Swing pricing protection
- Actively managed
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Allocation d'actifs
Actions
26%
Obligations
43%
Immobilier
22%
Autres
9%
Stratégie d'investissement
Fonds géré activement
Taille du fonds
CHF 18M
Banque dépositaire
Tellco Bank AG
Swing Pricing
Oui
Frais et coûts
Frais et coûts
TER synthétique
0.69%
Frais de garde
Gratuit
Performance au fil du temps
Performance historique de ce fonds d'investissement. Les performances passées ne préjugent pas des performances futures.
1 an
+2.1%
3 ans
+12.5%
Projection de retraite
Basé sur une cotisation max. de CHF 7'258/an, de 30 à 65 ans (35 ans), à partir de CHF 0.
Comparer avec des produits similaires
Questions fréquemment posées
- Why does Tellco Strategy 25 V hold 22% in real estate?
- The fund splits into 26% equities, 43% bonds, 22% real estate and 9% other investments. That oversized property slice is a Tellco signature and acts as an inflation hedge that pure equity-bond funds lack. It's a defining feature versus Swisscanto 25 RT, which holds 15% in real estate.
- Has Strategy 25 V's 0.69% TER kept up with its three-year return?
- Three-year performance came in at 12.53%, roughly 4% annualised. The 0.69% synthetic TER plus CHF 0 trading fees keeps total drag predictable. For a defensive 26% equity fund, that's a reasonable cost-to-return ratio, but the small fund size of CHF 18 million is the bigger watch-point.
Comment nous avons évalué ce produit
Tellco Classic – Strategy 25 V a été évalué en tant que produit à l'aide de notre système de notation pondéré.
Les évaluations sont mises à jour mensuellement sur la base des dernières données disponibles. Tous les produits sont évalués selon la même méthodologie.
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