The 11.9 billion Swiss franc ($9.4 billion) Canton of Zurich pension...

The 11.9 billion Swiss franc ($9.4 billion) Canton of Zurich pension fund is doubling the indexed portion of its Swiss equity portfolio to 80%, primarily because of growing concentration in Swiss blue-chip stocks. Once CIBA-Geigy and Sandoz merge (into the renamed Novartis), three companies will comprise nearly 60% of the Swiss Market Index -Novartis, Roche and Nestle. As a result, the Zurich fund will shift 40% of its SF2.4 billion Swiss equity allocation to passive management at the internally managed fund.