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Switzerland - Capital Management Advisors Group's Geneva subsidiary (CMA S.A.) has hired Masha Johnson (pictured) as senior hedge fund analyst.

GERMANY - State Street Global Advisors (SSgA) will discontinue its Kapitalanlagegesellschaft (KAG) status in response to recent regulatory changes in Germany, which make it no longer necessary for the company to separate its two Munich advisory services....

SWITZERLAND - Financial services firm the Vontobel Group has posted a CHF 58.8m (e38.3m) profit for the first half of the year.

SWITZERLAND - A performance comparison of Swiss pension funds for the first half of 2004 has revealed a massive drop in return on securities portfolios since 2003.

SWITZERLAND - The e18bn Swiss Federal Pension Fund (PUBLICA) has named Susanne Houry as its new head of asset management in place of Felix Senn, who has been appointed as head of the Treasury from August 1, 2004.

SWITZERLAND - Swiss pension funds have seen a decline in returns for the second quarter with portfolios returning -1.1%, according to research by the performance measurement company InterSec.

SWITZERLAND - The CHF4bn(e2.6bn) Basellandschaftlische Pensionskasse (BLPK) is set to cut its fixed income allocation and increase its exposure to real estate to CHF1.1bn.

SWITZERLAND - Consultants have warned that calculating manager fees as a percentage of managed assets can create conflicts of interest between the pension fund and the investment manager.

SWITZERLAND - A rise in the minimum interest rate of second pillar pensions from 2.25% to 2.75% would jeopardise pensions' financial health, according to the president of the Swiss Association of Pension Funds (ASIP).

GERMANY - Bank of Ireland Asset Management (BIAM) has been awarded a global equity mandate for ChevronTexaco's Dutch employees pension fund.