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Fixed-income investments

The fixed-income investments of the Church Pension Fund have been diversified to seven sub-portfolios: government bonds, Investment Grade corporate bonds, High Yield corporate bonds, convertible bonds, emerging market bonds, short term credit and alternative fixed income.

The fixed-income investments of the Fund are generally made through mutual funds.

The Church Pension Fund's fixed-income investments on 31.12.2020:

 

Government bonds 9%, IG corporate bonds 10%, HY corporate bonds 10%, Convertible bonds 8%, Emerging market bonds 20%, Money market investments 22%, short term credit 21%.

The annual fixed-income investment returns 2014-2020*:

2014 5,9%, 2015 -0,8%, 2016 6,5%, 2017 3,9%, 2018 -2,7%, 2019 5,4%, 2020 2,9%.

*Alternative fixed income is included in fixed income starting from 2020 (previously in alternative investments).