SWITZERLAND - In the ongoing scandal over alleged corruption at the Canton of Zurich pension fund (BVK), the fund's investment controller Complementa has now received confirmation from the public prosecutor that it is not under suspicion.

In an statement on allegations made in Swiss newspapers, Complementa has denied any wrongdoing in the alleged corruption affair involving BVK's former head of invstment. (See IPE article: Swiss corruption saga continues as media storm gathers over Complementa)

Complementa confirmed that the public prosecutor had seized material from its offices but said that this was evidence in the case against the former head of asset management at the BVK.

In a letter to the Complementa, the public prosecutor confirmed that no suspicion has been raised against the firm itself, any of its employees or subsidiaries.

The firm also clarified that it was not responsible for selecting asset managers for the BVK but added it could not give any more information on the mandate it held for the fund as investment controller.

"The allegations against Complementa do not have any basis and Complementa repudiates them completely," the statement noted.