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SWITZERLAND - Swiss pension funds returned 13% in 2005 as they achieved their strongest year since 2000, according to the Swiss pension fund association (ASIP).

GERMANY - Print media company Heidelberger Druckmaschinen Aktiengesellschaft (Heidelberg) has decided to transfer the funding of its pension obligations to a contractual trust arrangement (CTA), with an initial transfer of e450m.

SWITZERLAND - A slight dip in Q4 performance did not stop Swiss pension funds reaching the highest annual returns since 1997, according to WM Performance Services Swiss Balanced Universe.

GERMANY - Standard LIfe Investments has appointed Gabriele Schlitt as investment director for European Business Development.

GERMANY - BMW has denied media reports claiming it planned to use a Contractual Trust Agreement (CTA) to take pension liabilities off the balance sheet.

GERMANY - Deutsche Börse MD for banking and custody services Volker Potthoff will resign from the company on June 20 this year, becoming the third senior manager to leave the exchange since November, 2005.

GERMANY - The unequal treatment of residents and non residents by aspects of Germany's pensions savings grant contradicts legislation on the free movement of workers and persons, the European Commission has said.

SWITZERLAND - Reform is needed to prevent a potential deficit in the old-age system (AVS) from exceeding 3% of GDP by 2040, the Organisation for Economic Co-operation and Development (OECD) has warned.

SWITZERLAND - The Ethos Foundation and Pictet Asset Management have embarked on a joint partnership to manage socially responsible investment (SRI) for institutional clients, and will manage more than US$1.1bn in this asset class.

AUSTRIA - Carl Spaengler KAG has appointed F&C Asset Management to manage a share voting and governance socially responsible investment engagement overlay programme.