Swiss federal pension fund, PUBLICA, saw its assets shrink nearly CHF600m last year to CHF32.5bn at the end of 2007, resulting in a 2.1% decrease in the funding ratio to 106.7%.
The fund, which targets a ratio of 115%, posted a 1.3% return for 2007. Commenting in the 2007 Annual Report, Werner Hertzog, director of PUBLICA, said: "2007 brought our investment team a lot of...
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