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Winterthur Hungary announced on Wednesday it is starting up a new high-yield private pension fund that invests half of its portfolio in shares. The fund, which makes riskier investments in venture capital and hedge funds in addition to shares, is intended for investors familiar with progressive investment schemes and with at least 20 years of working life left. Winterthur is targeting 80,000-120,000 Hungarians with the fund, and expects to gain 10,000 clients in the short term.