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...mutual funds began with the return to convertibility of most European currencies. Excited by the prospect of being able to invest abroad and take home their profits in hard francs, Swiss bankers hurried to set up a clutch of new mutual funds. The Swiss master of mutuals is a Zurich banker named Ernest Renk, who runs a combine called Intrag for the giant Union des Banques Suisses and three smaller banks. Intrag manages ten separate mutual funds with combined assets of $500 million, specializing in investments in different parts of the world...

Author: /time Magazine | Title: Business Abroad: Europe's Mushrooming Mutuals | 1/5/1962 | See Source »

...villagers are Tibetan refugees who were flown in to Zurich two months ago by chartered plane. Their Unterwasser home has an elevation of 3,000 ft., only about one-fourth that of Tibet, but Switzerland lies 15° north of their Asian homeland and the climatic conditions are much the same. Explains Lama Wangyal about the extraordinary transplant: "The mountains make us happy. We do not have forests, and our houses are built of stone, not wood. But this is also a country of snow, cheese and milk...

Author: /time Magazine | Title: Refugees: From Yaks to Yodels | 12/8/1961 | See Source »

Died. Hilda Doolittle, 75, Pennsylvania-born expatriate poet (Sea Garden, By Avon River), whose carefully chiseled lyric verse, signed "H.D.," represented the high-water mark of the imagist movement that before World War I broke away from formalized poetry into "words that make images"; of a heart attack; in Zurich, Switzerland. Sample image...

Author: /time Magazine | Title: Milestones: Oct. 6, 1961 | 10/6/1961 | See Source »

Behind the delay was a name-calling hassle between Switzerland's two traditional city rivals, Zurich and Basel, over the politics of Gollwitzer, a onetime pupil of Barth who was imprisoned for five years in a Russian P.O.W. camp. Gollwitzer, screamed Zurich papers, was a "proCommunist" who opposed West German rearmament, atomic weapons and Adenauer's policies in general. Basel's National-Zeitung jumped to Gollwitzer's defense: "This man is a radical Christian in the original sense of the word, who believes that Christ did not die on the Cross to serve as a mascot...

Author: /time Magazine | Title: Religion: Yes & No in Basel | 7/14/1961 | See Source »

Good Loser. Genial in defeat (he quickly made friends with three blondes in Zurich), Boun Oum might have given away still more points had not the Bolder Grand told the princes that they would have to get out to make room for tourists. That shifted the scene once again to the 14-nation conference on Laos in Geneva, where prospects were no more encouraging. The argument was mostly about helicopters (did or did not the I.C.C. need them to police the cease-fire?). Publicly, the U.S. promised to pull out its 300 military advisers from Laos if North Viet...

Author: /time Magazine | Title: Laos: Marred Charm | 6/30/1961 | See Source »

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