SWITZERLAND - The Fonds de compensation de l'Assurance -Vieillesse et Survivants (AVS) sustained losses of Sfr1.016bn in 2002, attributed to the downward trend in equity markets.
The fund’s overall allocation to equities at the end of 2002 was 20.4%, adjusted from the January 2002 allocation of 24.8%, but falling far short of the target of 40% it originally set in place. A...
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