FDC’s annual report 2025 sets out the highlights of the past year as well as FDC's year-end results.

In 2025, the geopolitical tensions of the previous two years continued and even spread to the United States’ trade and customs policies. Despite these tensions however, the financial markets showed exceptional resilience.

In this context, the net income generated by FDC in 2025 amounted to 1.25 billion euros. Overall, FDC's annual rate of return was 4.25%. Since the SICAV was set up in 2007, FDC's annualised rate of return has reached 5.05%.

As of 31st December 2025, FDC managed a pension reserve of 30.65 billion euros. Adding the balance of the Caisse nationale d'assurance pension (CNAP), the overall reserve of the general pension insurance scheme amounted to 32.05 billion euros and represented 4.24 times the amount of annual pension benefits at the end of the year 2025.

The past year was among others dedicated to a mid-term review of the investment strategy, the launch of infrastructure investments contributing to climate change mitigation as well as the continued development of FDC’s major real estate projects.

The FDC is proud to have won the award for best fund in the Small Countries category at the IPE Conference & Awards 2025 event, notably because of its strong ESG integration, excellent results, disciplined risk management and well-thought-out and low-cost strategy.