Zurich hit by asset management profits crash

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SWITZERLAND - Zurich Financial Services (ZFS) has been rocked by news that its fund management division made a US$14m loss during the first half of the year.

Assets under management declined 5% compared with the same period last year to us$416bn, with third party funds decreasing by 7% to US$241bn. Net income by asset management, excluding the non-recu...

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