Swiss funds hit by the crisis

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SWITZERLAND - More than three-quarters of Swiss pension funds made losses during 2008 - pushing average coverage ratios below 95%, according to Swisscanto.

The asset manger survey of over 260 Swiss pension funds found the average coverage ratio declined to 94.4% at the end of 2008, down from 112% in 2007. It said 76% of funds lost money over the c...

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