Swiss pension plans in the Geneva- based Buck Consultants composite universe achieved average returns for 1998 of 10.55%, slightly underperforming the 10.68% benchmark. Three year figures for the 18 plans now stand at 14.86%, against the benchmark of 14.91%. David McShee of Buck says, “The results are slightly disappointing, although measured against say the Pictet index they would have outperformed.”

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