Reichmuth Plans New Funds to Replace Matterhorn, Luzerner Says

Feb. 19 (Bloomberg) -- Christoph Reichmuth, chief executive officer of Reichmuth & Co., is planning to set up successors to the private bank’s Matterhorn Fund, which will be dissolved next week, Luzerner Zeitung reported.

The new funds will be open only to “known customers,” Reichmuth told the Swiss newspaper in an interview, adding that Matterhorn had returned around 7 percent a year over 13 years.

The bank managed more than 8 billion francs at the end of 2010, including about 25 percent in foreign assets, he said.

To contact the reporter on this story: Leigh Baldwin in Zurich at lbaldwin3@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.