Funding at Ahold pension scheme remains flat despite 24% return

first_imgThe scheme also made a €72m profit after exchanging swaps with an expensive coupon for instruments with a cheaper coupon, an adjustment made when the market value of the swaps exceeded 5% of its balance sheet.However, the Ahold Pensioenfonds lost 4.5% on its 78% currency hedge through forward contracts.It reported a 12.6% return for its overall equity portfolio, with a 28.3% return on US holdings.European and emerging market stocks returned 7.3% and 13.1%, respectively.Fixed income generated 15.3% in total, while euro-denominated government bonds and global credit returned 13.7% and 18.3%, respectively.Last year, the pension fund put in place a dynamic hedge of 40-60% of the interest risk on its US dollar-denominated corporate bonds through listed interest forward contracts.However, because US interest rates fell, it incurred a loss of 0.8 percentage points.According to Erik van den Heuvel, the scheme’s director, the pension fund applied a dynamic investment policy based on a Risk Grid, which linked the ratio between equity and fixed income portfolios to the scheme’s coverage ratio.As a consequence, equity investments are to be reduced if funding falls below 130%, or if it increases to more than 150%.The annual report also showed that property investments returned 16.2%, with listed real estate delivering 31.6% and non-listed property 4.3%.Private equity returned 17%.The pension fund attributed a 8.3% loss on commodities to falling oil and metal prices.The scheme spent €70 per participant on administration and 0.37% and 0.12% of its assets under management for asset management and transactions, respectively.It said it was trying to cut costs by increasing efficiency through merging portfolios, reducing the number of asset managers and increasing passive investments.“We are also assessing how we can reduce costs by increasing the minimal scale of portfolios, as well as by reducing our diversification,” said Van den Heuvel.Without the additional costs for increased transparency on its 1.7% private equity holdings and its interest hedge on credit, combined management costs would have dropped by 0.07% percentage points to 43 basis points last year, the pension fund said. The €4bn pension fund of retailer Ahold returned 24.1% over the course of 2014 but saw its funding increase by less than 1%.Despite a 0.7% increase in funding to 116.7%, the scheme said it still planned to grant all participants full indexation.In its annual report, the pension fund cited a steep increase in liabilities due to falling interest rates.However, because it hedged 55% of its interest risk through swaps, it achieved a positive return of 14.5%.last_img read more

West Badin Golf Course

first_imgLast week on a mini-trip to West Badin/French Lick we drove up to see the Pete Dye PGA golf course in West Badin.  After driving straight up what seemed like a mile hill (probably only a half mile), we saw the most unbelievable golf layout.  Cut into what was once a mini-mountain is an 18-hole golf course that seems to defy gravity.  Pete Dye removed trees, leveled the hilltops, and laid out fairways and greens that are simply breathtaking.Unfortunately for those who play this course, if you stray from the fairway, your ball might land 60 feet straight down.  For the average golfer, a dozen balls may not be enough.  From our view in front of the Club House you could see two small lakes incorporated into the layout.  There may have been more.Some of you might have watched the Legends play this course in June.  Their female counterparts will be playing it this weekend.   Even if you are not a golfer, you might want to turn to the golf channel just to see this course.last_img read more

Indiana is requesting a USDA disaster designation for 88 counties

first_imgStatewide— Governor Eric J. Holcomb last week that the state of Indiana is requesting a U.S. Department of Agriculture Secretarial disaster designation for 88 counties due to losses caused by flooding and excessive rain this planting season.The request was made in a letter to USDA Secretary Sonny Perdue and signed by Gov. Holcomb, Lt. Gov. Suzanne Crouch and Indiana Farm Service Agency Executive Director Steven Brown.National Oceanic and Atmospheric Administration data show that the past 12 months have been the wettest on record in the United States. A USDA disaster designation can be requested when at least 30 percent of one crop is damaged or lost in a county. Of the state’s 92 counties, 88 counties have reported data meeting that threshold.The designation would allow emergency low-interest loans to be made available to farmers. The low-interest financing can also be made to counties contiguous to counties in the disaster zone.Counties in our listening area for the requested designation include:BartholomewDearbornDecaturFayetteFranklinJacksonJenningsOhioRipleySwitzerlandlast_img read more

Joe Aribo stars in Rangers win

first_imgRelatedPosts Joe Aribo vows to bounce back from injury Laudrup: Aribo needs back ups at Rangers West Ham rival Rangers for Josh Maja Nigerian sensation, Joseph Aribo, was in action on Sunday as Rangers moved level on points with Celtic at the top of the table after coming behind to beat Motherwell at Ibrox.Aribo was on for 71 minutes before leaving the pitch for Alfredo Morelos.Steven Gerrard’s side saw their Old Firm rivals thrash Aberdeen earlier in the day but knew that a five goal win would have taken them back into pole position in the title race.The only thing that mattered for boss Gerrard was ensuring that his side picked up three points, though, and goals from Jermain Defoe and Filip Helander won it.Cole did well to turn at the edge of the area and his powerful low strike was outwith Allan McGregor’s reach as the Steelmen took a shock lead.Gillespie saved a well struck strike from Steven Davis and Defoe scored with a lovely finish on the angle to pull Rangers level.The Gers were on the front foot from the off after the break and looked more dangerous. Joe Aribo fired just wide, Helander saw a diving header rise narrowly over and Tavernier came close with a snap shot from inside the area.Motherwell were still very much in the game and Long tried his luck with a strike that hit the near post after combining with Cole.But it was Rangers that found the third goal of the game. Helander glanced a terrific header beyond Gillespie from a Tavernier corner to win it and secure a huge three points. Tags: Allan McGregorRangerslast_img read more

How will the new US president impact on sport?

first_imgBy Richard ConwayDONALD Trump has swept to power in the US presidential election.There’s a lot of uncertainty over his policy plans and what they’ll mean for America and for the world.His victory will also have an impact on a range of sporting issues, including the US 2024 Olympic bid, the investigation into FIFA, the 2026 World Cup and the continued global expansion of American football, baseball and basketball.What impact will President Trump have on the Los Angeles bid to host the 2024 Olympics and Paralympics?Trump’s victory could be highly significant for LA’s hopes and could boost its main rival, Paris.The International Olympic Committee (IOC) is due to hold a vote to decide the host of the Games next September with Budapest the only other candidate.Back in August, LA’s mayor Eric Garcetti, a Democrat who supported Hillary Clinton, acknowledged IOC members had concerns over Trump.IOC president Thomas Bach also spoke in the summer about a “world of selfishness where certain people claim to be superior to others”. That was seen as a clear reference to Trump’s proposed plans that include potential restrictions on Muslim immigration and the deportation of millions of illegal immigrants.Trump’s plans may not sit well with IOC voters, drawn from a range of countries and cultures.USA are clear favourites for the 2026 World Cup but will a Trump administration affect how it will be staged if it wins the bid?There’s no question that the US is in pole position for football’s 2026 tournament. Football’s world governing body FIFA is deliberating over expanding the tournament to 40 or even 48 teams.In tandem with that there’s a definite shift in thinking within FIFA’S leadership towards encouraging joint bids between countries.The regional football chief, Victor Montagliani, has been careful to keep all options regarding some combination of a US/Mexico/Canada hosting arrangement on the table.But what effect will Trump’s plan to build a wall along the US border with Mexico – and to make them pay for it – have on relations between the two countries?World Cup bids only succeed with firm government backing and solid financial guarantees. It’s difficult to imagine there would be a friendly atmosphere of co-operation over a joint tournament with such big issues being argued over at senior levels within both governments.“We will get along with all other countries, willing to get along with us,” said Trump in his acceptance speech.A USA/Canada 2026 bid may have just become a more realistic prospect.Meanwhile, when the US play Mexico in a World Cup qualifier today, it will provide an early test of whether sport can rise above politics.Trump has threatened to end several trade deals. What impact will that have on the growth of American sport outside its borders?Trump has a firm affinity for golf, owning many of the world’s most prestigious courses in the US, Scotland and Dubai.He’s also tweeted sporadically about NFL and is friends with New England Patriots quarterback, Tom Brady.And it’s NFL’s global ambitions – along with those of the NBA and MLB – that may be caught up under Trump’s plans to impose tariffs on imported goods.The leadership of America’s three big sports have ambitious plans for overseas expansion. Games have been played in recent years in cities such as London, Barcelona, Rio de Janeiro, Mexico City, Shanghai and Berlin.But economists warn that tariffs could lead to a trade war between the US and its trading partners.Would countries such as China, facing possible tariffs of 45%, be open to hosting games for the principal benefit of US franchises and permitting beneficial tax arrangements for visiting teams and leagues?London’s mayor, Sadiq Khan, insists “London is open” and is encouraging of American sports teams coming over to visit. That won’t change – but US teams must now consider the likely impact of a radically different global economic environment.The US Department of Justice launched criminal action in May 2015 against FIFA officials. But will President Trump and whoever he appoints as Attorney General still consider it a priority?The former New York Mayor, Rudy Giuliani, is being touted to take over from the current Attorney General, Loretta Lynch.Giuliani made his name taking on powerful Mafia figures in New York in the 1980s. So he may relish the task of taking on the fight against corruption among football officials.America and the world await to see the answers.last_img read more

USC among top LGBT-friendly schools

first_imgCampus Pride, a national organization for lesbian, gay, bisexual and transgender student leaders and campus groups, named USC one of the top 50 most LGBT-friendly campuses in the United States on Aug. 15.Allied Pride · Rainbow flags hang on lamp posts along Trousdale Parkway in honor of Coming Out Month last October. — Razan Al Marzouqi | Daily TrojanCampus Pride based the rankings on its Campus Pride Index, which ranks colleges and universities on the basis of eight factors: LGBT policy inclusion, support and institutional commitment, academic life, student life, housing, campus safety, counseling and health and recruitment and retention efforts. More than 425 schools were ranked this year, with 56 achieving the highest possible rating of five stars.According to Rev. Kelby Harrison, director of the LGBT Resource Center, several factors helped set USC apart from other campuses.“We have a non-discrimination policy for both sexual orientation and gender identity and expression,” Harrison said. She also gave credit to the administration for helping to recruit LGBT students and focus on retention. She credited the LGBTRC, which has has a professional staff to support students and to help advocate for LGBT issues across campus.Response to the ranking has been positive. “It’s such a big step for USC,” said sophomore human biology major Natasha Natarajan. “I’m really excited because it just shows how important LGBT issues are to our school.”Last semester, Undergraduate Student Government passed a resolution to create gender-neutral housing on campus. Such housing, however, has yet to be created.“I’m not saying it’s perfect here, but a lot of work has been done in making this campus very friendly towards queer people,” said Emily Huang, a senior majoring in sociology. Huang is the networking chair of the Queer & Ally Student Assembly and co-president of OUTreach, a club dedicated to community service in the LGBTQ and ally community.Students and staff, however, agreed that there is more to be done on campus to make USC an even more LGBT-friendly university. Harrison hopes to see the addition of LGBT studies to the list of minors offered at USC. Troy Rayder, a junior double majoring in gender studies and sociology, cited QuASA’s efforts to push for gender-neutral housing and gender-neutral bathrooms.“There’s been a lot of support for it lately, but it’s now just about implementation,” Rayder said.Similarly, Huang hopes to see even further progress on campus.“It’s not just tolerance that we need. It’s more about acceptance and integration, in a sense,” she said.Each campus included in the rating has a profile of the school on Campus Pride’s website. The Campus Pride Index was created in 2001 by a team of national LGBT researchers in order to promote improvement of LGBT groups on campuses across the U.S. Among the other schools listed on the Top 50 are nine California universities, including Stanford University, UCLA and Pomona College.last_img read more

Defense proves best offense for Badgers

first_imgAs an offensive juggernaut throughout the regular season, Wisconsin women’s hockey rarely had trouble scoring goals. But in the biggest game of the season, in the first round of the NCAA tournament, the Badgers’ prolific offense met its match.It took until midway through the third period, but Wisconsin eventually took a late lead on a breakaway shorthanded goal courtesy of Hilary Knight and never looked back.But Wisconsin’s defense shined as the real difference maker Saturday evening in its 3-1 victory over Mercyhurst, as all three UW goals came directly off turnovers.“I think our defensemen did a great job,” sophomore goaltender Alex Rigsby said. “There was a lot of back checking, especially with our forwards as well, but our defensemen, they definitely broke up a lot of plays.”The Badgers’ defense prevented Mercyhurst from putting a single shot on goal until nearly 15 minutes into the game, showing its toughness early on. An impressive feat in any game, but particularly against a Mercyhurst squad that averages 42 shots on goal a game.“[The defensemen] do a great job every game,” Rigsby said. “That’s huge for me every single game, so it definitely makes my job easier.”Having great play from defensemen is a luxury for any goalie, but not seeing many shots on goal can also make it difficult to remain focused.“It was definitely tough not seeing some shots for awhile,” Rigsby said. “I think the hardest ones were in the first period where I don’t think I saw a shot for the first 15 minutes, because our team had so much energy and was keeping it in [Mercyhurst’s] zone. It’s also tougher in that situation, but you just have to stay focused throughout the entire game.”The lack of shots on goal early in the game may have had something to do with Mercyhurst’s only goal of the game. It came on a deep wrist shot goal by Kelley Steadman with about 40 seconds left in the second period, catching nearly everyone in the Kohl Center off guard, including Rigsby.The goal remained one of few highlights for Mercyhurst, as Wisconsin put up three scores on the Lakers, all caused by stingy defense.Playing for the right to move on to the Frozen Four in Duluth, Minn., both teams played with high intensity and physical play. That physicality led to five penalties for each team, presenting plenty of opportunities for power play goals. Despite numerous good looks at the net, UW couldn’t capitalize on the power play, but Wisconsin’s defense proved to be its best offense.It began with junior forward Briana Decker midway through the first period, when she recorded the Badgers’ first goal after stealing the puck in Mercyhurst’s zone. The next goal didn’t come until two periods later, when Carolyne Prevost snatched the puck from Mercyhurst with the Badgers shorthanded. Prevost’s turnover led to a two-on-one breakaway where she found Knight for the game-winning goal.Even UW’s third goal – an empty net goal – came off a turnover forced by the Badgers’ defense.“Certainly a big part of the game is when you talk about managing the puck and making sure you’re taking care of it in certain situations and areas on the ice,” head coach Mark Johnson said. “And if you don’t do a very good job in those areas, it leaves the other team transitioning and maybe getting outnumbered in situations.”As a senior, it’s a sweet ending for Knight’s career at the Kohl Center. Even in the toughest of games, she knows how to will her team to victory. And she did just that – scoring the game-winner Saturday night.“You have to take the bounces as they come, and fortunately for us we got bounces on the turnovers and capitalized on them,” Knight said. “With any game it has its own story, and you just have to figure out what opportunities are presented to you and take advantage of them, and I think we did a good job of that tonight.”last_img read more

Men’s rowing hires Emma Carlisle Reske as assistant coach

first_img Published on August 25, 2020 at 8:19 pm Contact Skyler: skrivera@syr.edu | @skylerriveraa The Daily Orange is a nonprofit newsroom that receives no funding from Syracuse University. Consider donating today to support our mission.Emma Carlisle Reske has been hired an assistant coach for men’s rowing, the team announced Tuesday. Carlisle Reske joins the Orange this fall after a successful season as the assistant coach for Princeton lightweight men. “I am tremendously excited to have the opportunity to join the hardworking and talented staff here at Syracuse,” Carlisle Reske said in a release. “I am grateful to Coach Reischman for allowing me the chance to work with such an accomplished and competitive group of athletes.”In a release, SU head coach Dave Reischman called Carlisle Reske a “student of the sport,” and a “student of coaching.”Carlisle Reske rowed for Smith College in Northampton, Massachusetts, where she was a two-time captain, one-time All-American and four-time NEWMAC Scholar-Athlete. She has been coaching since 2011 at various community programs and boat clubs developing novice, intermediate, varsity and master rowers while attending college.AdvertisementThis is placeholder textAfter graduating in 2015, Carlisle Reske joined the University of Massachusetts as a volunteer assistant coach – and was later promoted to assistant coach. She later joined Princeton University’s lightweight men’s walk-on development program and coached the fourth varsity.“She has spent a lot of time studying the various elements of our sport and that, combined with her various coaching experiences, will add tremendous value to our program.” Reischman stated in a release. “Our student-athletes will benefit greatly from her passion and expertise.”Carlisle Reske will be replacing Stephen Hoskins as an assistant coach. Hoskins, a Syracuse graduate, spent two seasons coaching the Orange and four years as a rower. Commentscenter_img Facebook Twitter Google+last_img read more

Jamaica Reports No New COVID-19 Cases For The First Time in…

first_imgThe total number of confirmed COVID-19 cases in Jamaica as at Thursday (May 14) remains at 509. In addition to the 224 cases that are employees of the workplace cluster in St. Catherine, there are: The number of new samples tested for COVID-19 in the last 24 hours is 228, bringing the total number of samples tested on the island to 7,780. Of that 7,780, in addition to the 509 positives, there are 7,213 negatives and 58 pending. Of the 509 confirmed COVID-19 cases to date, the 118 who have recovered represent a 23.2% recovery rate compared to the nine or 1.8% who have died. Overall, 10 persons have been considered moderately ill and 11 persons, critically ill. There are currently no moderately or critically ill cases. (JIS News) – 41 imported cases;– 193 cases that are contacts of confirmed cases (including 96 that are contacts of employees in the workplace cluster in St. Catherine);– 24 that are local transmission cases not epidemiologically linked; and– 27 that are under investigation. For the first time in some 50 days, Jamaica has recorded no new positive cases of COVID-19 on the island even as recoveries rose to 118. Three hundred and five (305) or 60% of the confirmed cases are females and 204 or 40% are males. They range in age from 2 months to 87 years.last_img read more

GAN and SBTECH form strategic US partnership

first_imgShare Kambi and DraftKings agree on final closure terms July 24, 2020 Related Articles Kambi takes control of Churchill Downs BetAmerica sportsbook August 28, 2020 Submit Dermot SmurfitUpdating the market, B2B gambling enterprise turnkey systems provider GAN has confirmed that it has entered a strategic US services partnership with betting platform and software supplier SBTECH. The partnership will see SBTECH’s sports betting provisions integrated within GAN’s enterprise platform software ‘GameSTACK’.Moving forward, GAN management will be able to offer sports betting services to ‘select partners’ of its US client portfolio.GAN’s clients together represent more than seventy casino properties located coast-to-coast generating in excess of $8 billion in land-based casino gaming revenues annually.Updating investors, Dermot Smurfit, CEO of GAN commented on the SBTech partnership: “GAN has been asked by several Clients to review, procure and support the delivery of a sports betting solution both online and in the on-property retail channel in the event PASPA is overturned.“We have conducted a lengthy diligence process in Europe to identify a preferred sports betting partner based on their technical capability, US licensing suitability, ability to integrate seamlessly with GAN’s enterprise software platform and the sophistication of their managed sports services. We are delighted to announce this strategic relationship with SBTECH.”Richard CarterFurther to the agreement, both parties indicate that the partnership will deliver an advantage should the US Supreme Court overturn or modify existing Federal US prohibition on sports betting enshrined in the PASPA 1992 legislation. Richard Carter, CEO for SBTECH, backed GAN as US partner: “GAN is a licensed, trusted partner to more than a dozen US casino operators equipped with unique intellectual property and a proven track record in delivering and growing Internet gaming businesses in the United States.“This partnership is logical for SBTECH and permits SBTECH to rapidly introduce its sports betting technology and services to a wide range of US casinos with a view to being the first to settle a US sports bet online and on-property in States such as New Jersey and Pennsylvania, in close collaboration with GAN.” StumbleUpon Wiraya and A GAME ABOVE: Partnering to produce full lifecycle potential July 1, 2020 Sharelast_img read more