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GERMANY - Deutscher Investment Trust is launching a European equity fund with a discount strategy through its subsidiary in Luxembourg.

AUSTRIA - A controversial proposal for the harmonisation of pensions between civil servants and the rest of the workforce passed through the Austrian parliament late yesterday in an extremely close vote.

GERMANY - The abolition of the tax privilege for life insurance policies from December 31 this year will have far reaching consequences for the entire industry, says Goldman Sachs.

AUSTRIA - Harmonisation of pensions between civil servants and the rest of the workforce looks set to pass through the Austrian parliament today on the back of tense negotiations between the trade union and the Austrian government.

GERMANY - German private bank Merck Finck & Co has launched a short duration preferred securities fund with an anticipated investment volume of e500m over the next two years.

SWITZERLAND - Credit Suisse Asset Management (CSAM) has launched the first Swiss real estate fund to invest in non-domestic real estate.

SWITZERLAND - Swiss pension funds returned a mere 0.1% for the third quarter of the year due to overweighting and security selection in Swiss and foreign equities, according to WM Performance Services.

SWITZERLAND - Independent agency broker for institutional investors, NeoNet, and Swiss-based SIS SegaInterSettle have announced the launch of an integrated cross-border trading and settlement solution called INSET Access.

GERMANY - Versongungsanstalt des Bundes und der Lander (VBL), the e7.2bn German pension fund, has delayed a decision on investments in alternatives and high-yield bonds until next year.

SWITZERLAND - State Street Global Advisors (SSgA) has increased its presence in Switzerland with the formation of a new team to focus exclusively on Swiss Franc-denominated bonds.