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SWITZERLAND - The CHF11bn Versicherungskasse der Stadt Zurich (VSZ) is to soften its exposure to Swiss fixed-income as part of a review of the entire fund.

GERMANY - Gartmore has extended its European reach with the appointment of Alena Landa as business development manager of the new offices in Frankfurt.

SWITZERLAND - The Baden-based CHF5.5bn ABB pension fund is on the verge of appointing two hedge fund of fund managers as part of its first for foray in to the asset class.

AUSTRIA - Schoeller Capital Management (SCM) and parent group HypoVereinsbank Group (HVB) have launched a fund of hedge funds for the institutional market.

SWITZERLAND - Credit Suisse Asset Management's (CSAM) real estate investment vehicles are acquiring 100 properties valued at CHF1.2bn (£505m) from the Novartis Pension Fund.

SWITZERLAND - Zurich Financial Services (ZFS) has made a number of changes to its management board.

SWITZERLAND - Zurich Financial Services yesterday announced the complete sale of its investment arm, Zurich Scudder Investments, to Deutsche Bank for $2.5bn.

SWITZERLAND - Swiss pension funds rebounded only slightly following last year's choppy markets, but posted more positive performances on foreign equities, according to the latest research from Watson Wyatt and ASIP, the Swiss pension funds association....

GERMANY - A new pension scheme for metal and electronic industry employees is has selected nine money managers to bid for assets of up to EUR5bn.

GERMANY - Werner Zedelius will join the management board at Allianz AG on January 1, 2002.