SWITZERLAND - Over 80% of Swiss private pension funds stated a cover ratio of 100% or more at the end of last year, the Swisscanto Pension Funds Survey 2010 found.
The average, asset-weighted cover ratio of these schemes grew to 103%, from 97% at the end of 2008. However, Swisscanto said only 10% have adequate reserves. It said: "Since the beginning of the year,...
SWITZERLAND - Swiss firm Lombard Odier Investment Managers plans to launch a new fundamentally-weighted developed sovereign debt fund after a Swiss pension fund agreed to invest CHF1bn ($1.1bn) in the strategy.
SWITZERLAND - State Street has acquired Swiss investment performance measurement and analytics firm Complementa Investment-Controlling AG.
UK/SWITZERLAND - Swiss banking giant UBS has raised its estimate of the losses allegedly caused by rogue trader Kweku Adoboli to $2.3bn.
SWITZERLAND - The funding levels of Swiss pension funds fell by 4% in the second three months of the year, research by Towers Watson shows.
SWITZERLAND - UBS is slashing 3,500 jobs as part of its cost cutting scheme with almost half coming from its investment banking business but only 10% from its global asset management unit.