A stable Board of Trustees


Three Board mandates expired in May 2017. These concern that of Mr Christian Gerbail, Mr Jacques Grivel and Ms Christina Rancic. The three members renew their mandate, thereby allowing Copré to complete the internalisation of its administration with the support of a balanced and experienced Board of Trustees that ensures stability.


New chairmanship

Ms Christina Rancic, who has chaired Copré’s Board of Trustees for 10 years, is handing over to Mr Robin Gordon, CEO of Interiman Group. A member of our Board since 2011, a born entrepreneur, familiar with hiring and team-building, he has our full confidence in taking over the chair.

Change of direction

Mr Marçal Decoppet, Managing Director of the Foundation, has chosen to leave Copré to take up another challenge after spending 7 years in this position and greatly contributing to the positive development of the Foundation.  Copré wishes him every success for the future. The process of recruiting a new Managing Director is nearing completion.

 

Independence & internalisation

Taking into account its size and in order to adapt to an increasingly changing environment and control its costs and risks, Copré is taking its destiny into its own hands and working towards acquiring total independence by 1 January 2018.

While maintaining its head office in Geneva, Copré has opened a branch in Lausanne, located in Place de la Gare, which will host the administrative and technical management, commercial development, and accounting.
Our new team in Lausanne is composed of the following members: Mr Jean-Bernard Georges, Director of Investments, Mr Luca Albertoni, Commercial Director, Mr Marc Oberli, Manager LOB, Mr Vincent Colletti, Accounting Manager, and Mr René Maerki, IT Project Manager. October and November 2017 will see the arrival of 7 staff members for LOB management, 2 for the Commercial Back Office, and 1 for accounting.
As the Lausanne premises can accommodate 24 work stations, we can expect growth for the future.

The mandate contracts linking Copré with Swiss Risk & Care for the administrative and technical management of the insured and for commercialisation continue without modification until 31.12.2017.
From 1 January 2018, Copré will be completely autonomous and independent, with its team fully operational, resolutely future-oriented and capable of adapting rapidly to the demands of the market and the clientele.

 

THE FOUNDATION CONTINUES TO PROGRESS  

Cover rate on the increase: 106.6 % as at end July
Performance of 2.89 % at 31.07.2017

The performance on the investments portfolio amounted to +2.89% for the period from 01.01 to 31.07.2017.

The principal contributors were the investments in Swiss and foreign shares as well as in Private Equity.

Returns from the financial markets in shares were particularly favourable during the 1st quarter, with a performance of 15.6% for the Swiss market, which benefited from the general improvement of the economic situation and the net appreciation of the Euro against the Swiss franc. Swiss bonds remain in negative territory (-0.64%), while the real estate sector continued its regular progression at +3.5%.
Our Investment Committee pursued its strategy of reducing investments in cash and bonds in favour of shares and alternative investments: Private Equity, Senior Secured Loans and Trade Finance in particular.
Currently nearly 15% of the portfolio is invested in this asset category which offers returns that show little correlation with the financial markets, while the portion of liquidities has been reduced to 3% and that of Swiss and foreign bonds to less than 15%. Direct investments in Swiss real estate continue to constitute the most important portion of the portfolio, at nearly 30%.

Systematic operations have been applied for risk reduction on the principal share markets and on foreign currencies, in the form of sales of covered calls.
This impacted the performance due to the continued rise of shares and the rise of the Euro. Without these cover operations, the performance of assets under management was +3.59%