Our Take on Tellco Classic – Swiss Equities ESG V
Active Swiss equities with ESG screening. But the returns trail passive competitors badly.
Tellco Classic Swiss Equities ESG V ranks #13 among 67 3a investment funds in Switzerland. It's a 99% equity fund focused exclusively on Swiss stocks with active management and ESG criteria. The CHF 440 million fund size shows institutional trust, but the performance numbers raise uncomfortable questions about whether active management is adding or subtracting value.
Are the Fees Worth It?
Tellco doesn't publish a standard TER for this fund in the way VIAC or frankly do, which makes direct comparison tricky. The costs are bundled into the fund structure. What we can compare is results: +25.49% over three years and +28.17% over five years for a 99% equity fund.
For context, BLKB's passive Swiss equity fund returned +30.63% over three years and +35.54% over five years. VIAC Global 100 (99% global stocks) returned +42.74% and +51.49%. Tellco's actively managed Swiss equity fund is significantly lagging both passive alternatives.
What Actually Stands Out
Swing pricing is a genuine benefit that protects existing investors from the transaction costs of large flows. Tellco has been managing pension assets in Switzerland for decades, and the Tellco platform offers a more traditional experience compared to digital-only competitors.
The ESG screening adds a values-based layer to the Swiss equity focus. For investors who want sustainability criteria applied by an established Swiss pension fund manager rather than a fintech startup, Tellco's institutional heritage provides credibility. CHF 440 million in assets demonstrates serious scale.
What Most Reviews Miss
The performance gap is stark. With 99% in stocks, this fund should be capturing nearly all of the Swiss market's upside. Instead, it's returning 5-7 percentage points less than the passive BLKB Swiss equity fund over five years. Active management is clearly costing investors real money in this case.
Fee opacity is a concern. Without a clearly published TER, it's difficult to know exactly what you're paying. Traditional pension fund providers like Tellco often have layered cost structures (management fees, custody fees, transaction costs) that don't show up in a single headline number.
The Bottom Line
Tellco's fund has institutional backing and a long track record, but the returns don't justify choosing it over cheaper passive alternatives. If you want Swiss equity exposure with ESG, BLKB's passive fund delivers better performance at a transparent cost. See all Swiss equity 3a options in our best 3a investment funds in Switzerland ranking.
Verdict: Suitable for investors already in the Tellco ecosystem, but hard to recommend when passive alternatives consistently outperform.
Pros
- Low total costs (0.00% p.a.)
- Good 3-year performance (+25.5%)
- No custody fee
- Swing pricing protection
Cons
- Active management = higher fees
- High stock allocation = more volatility
Product Details
At a Glance
- 99% stocks allocation
- Swing pricing protection
- Actively managed
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Asset Allocation
Stocks
99%
Bonds
0%
Other
1%
Investment Strategy
Actively-managed fund
Fund Size
CHF 440M
Depositary Bank
Tellco Bank AG
Swing Pricing
Yes
Fees & Costs
Fees & Costs
Custody Fee
Free
Performance Over Time
Historical performance of this investment fund. Past performance is not indicative of future results.
1 Year
+2.6%
3 Years
+25.5%
5 Years
+28.2%
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 Tellco Classic – Swiss Equities ESG 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 Tellco Classic – Swiss Equities ESG V from another provider?
- Yes, you can transfer your 3a balance to Tellco Classic – Swiss Equities ESG V at any time without tax consequences, and Tellco 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 Tellco Classic – Swiss Equities ESG V guaranteed?
- No, investment fund returns are not guaranteed. Past performance of +28.2% over 5 years does not guarantee future results. Your capital can fluctuate with markets.
How We Rated This Product
Tellco Classic – Swiss Equities ESG 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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