The pension fund of the Swiss canton of Bern, Bernische Pensionskasse (BPK), will assess its asset allocation in 2011, following a bad performance in 2010, IPE reports. The fund posted a return of 1.2% for 2010, below the Swiss average of around 2% calculated by Swisscanto. The pension fund’s funding level was down to 88% in 2010, after having reached 90% at year-end 2009. One reason for the low performance may be the fund’s decision to choose not to hedge its currency exposure, which led to losses as the euro fell, and its low real estate exposure of around 3%.

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