Equities boost Spanish pension fund returns in Q1

first_imgStrong first-quarter performance from global equity markets boosted the average return from Spain’s occupational pension funds to 5.6% for the 12 months to end-March 2017, according to the country’s Investment and Pension Fund Association (INVERCO).This compared with a 2.7% return for the calendar year 2016, and a 3.3% loss for the 12 months to end-March 2016.It brings the average annualised returns for Spanish occupational funds to 4.1% for the three years to 31 March 2017, and 5.3% for the five years to that date.While equity portfolios made large gains over the first quarter, fixed income experienced a slight correction, said INVERCO. Preliminary estimates from Mercer’s Pension Investment Performance Service (PIPS) showed that, for the three months to end-March, euro-zone equities made 6.8%, non-euro-zone equities added 5.1%, and fixed income lost 0.3%, giving an overall total return of 1.4%.For the 12 months to the same date, returns were 17.9% for euro-zone equities, 24.8% for non-euro-zone equities, and 1% for fixed income. The overall return was 6.1%.The PIPS survey covered a large sample of pension funds, most of them occupational schemes.INVERCO’s figures showed that, for Spanish pension funds as a whole, the average allocation to domestic assets remained stable, forming 57.4% of portfolios at end-March. Non-domestic assets grew from 26.3% at end-December 2016 to 28.5% three months later.Over the same three months, allocations to fixed income decreased slightly to 53.6% on average, while equities rose to 29.4%.The shifts in geographical and asset class weightings were both partly explained by the outperformance of global stock markets over the period.Spanish government bonds still made up the biggest single component of pension fund portfolios at 27.8%, with a further 16% in domestic corporate bonds.At the end of March, total assets under management for the Spanish occupational pensions sector stood at €35.6bn, an increase of 1.8% over the past year. The number of participants in the occupational system was just over 2m.David Cienfuegos, head of investment, Spain, at Willis Towers Watson (WTW), said: “Large pension funds in Spain have implemented some of the strategic decisions they had made by the year-end during Q1 2017. So portfolio allocations have shifted towards alternative credit and more globally diversified bond portfolios.”He continued: “In our experience, large pension funds in Spain are focusing on diversifying away from ‘dead assets’ – balance sheet assets with no value – and that has created a trend towards large exposures to foreign assets, outside core euro-zone bonds. US [government bonds] and corporates as well as global high-yield bonds are probably the big winners over the past few months, which obviously represents a continuation of the trend we saw in 2016.” Cienfuegos said WTW had observed increased allocations to loans and emerging market debt, with investors in yield-hunting mode – although they had not massively re-engineering their overall strategic asset allocation.Spanish pension funds were continuing to push for higher allocations in private markets, particularly private equity, Cienfuegos added.He said: “We expect large pension funds will continue to build their private markets portfolio, increasing their scope to invest, particularly in infrastructure and real estate opportunities. Furthermore, we expect them to explore how portfolio construction can benefit from the use of liquid alternatives – diversifiers – replacing some of the ‘dead assets’ in 2017.”Meanwhile, a report from the Banco de España has warned that Spain cannot maintain current replacement rates for its state pension payments without a considerable increase in revenues. It said new funding sources would be needed since social security contributions are already high.The alternative would be to reduce replacement rates, either by cutting initial pensions or changing indexation, in which case the role of insurance and other savings mechanisms in supplementing the public system should be properly defined, the report said.last_img read more

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Interstate residents flocking to Gold Coast’s Halcyon Greens

first_img MORE NEWS: Buy a slice of Australia’s celebrity playground Lifestyle and climate are the factors that continue to win buyers over.“Retirees are able to sell their family home down south and buy in Queensland for up to half the price, pocketing the remainder for their lifestyle needs,” Dr Geissmann said. “A lot of buyers are following the ‘Florida Effect’ and are moving simply to enjoy the extraordinary climate away from the hustle and bustle of dense living, but with everything they need at their doorstep. More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“We also have a handful of buyers who are following their children and grandchildren who may be making a career move.”The warmer climate and better value for money is what attracted long-time Sydney-siders Peter and Trish Addington. MORE NEWS: Three properties snapped up in rare deal Trish and Peter Addington were moving to the Coast from Sydney.“We could have downsized here in Sydney, but we really didn’t warm to any of the options within our budget,” Mrs Addington said. “Queensland was definitely the way to go.”Halcyon Greens is in Pimpama’s Gainsborough Greens on a 34ha island surrounded by wetlands and the golf course, and will have more than 500 homes. Halcyon Greens is seeing more retirees choosing the sunshine state for both financial and family reasons.THE sunshine and value for money are luring southern residents to the Gold Coast in droves, with 30 per cent of buyers at Halcyon Greens over the past year heralding from New South Wales and Victoria. The lifestyle community’s joint managing director, Bevan Geissmann, said retirees made up a large portion of the buyers.While they were choosing the Sunshine State for financial and family reasons, he said the lifestyle and climate were the factors that ultimately won people over. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58last_img read more

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Black women get ‘worse’ breast cancer

first_img Share Sharing is caring! 23 Views   no discussions Share Tweetcenter_img Share HealthLifestyle Black women get ‘worse’ breast cancer by: – October 23, 2013 Not all tumours will respond to drugs like tamoxifenYoung black women in the UK are more likely than their white counterparts to develop “worse” breast cancer with a poorer prognosis, research suggests.This group has larger, more aggressive tumours with a higher risk of recurrence.This is despite having the same access to treatment, the study in the British Journal of Cancer shows.As yet unidentified biological factors may be to blame, say the Cancer Research UK investigators.Such women might respond less well to breast cancer drugs like tamoxifen because of the genetic make-up of their tumour, they say.The research team, based at the University of Southampton, looked at data from nearly 3,000 UK women – of whom 118 were black – who were younger than 40 when they were diagnosed with breast cancer.Even when individual differences such as body weight and treatment variations such as availability of chemotherapy were taken into account, black ethnicity remained an independent indicator of poor prognosis.Dr Ellen Copson and colleagues say there have been similar findings in the US, suggesting this could be an international trend, but further research is needed to try to pin down the exact cause or causes.Early diagnosis may also play a role if black women are less aware of the symptoms or less “breast aware”, and so less likely to identify worrying changes, they say.This could mean their cancer is diagnosed at a later stage which would reduce the chance of successful treatment and recovery.Although NHS treatment is designed to be equal for all, some cultural factors such as recent immigration to the UK or language barriers may in practice affect use of health services, they say.Dr Julie Sharp, Cancer Research UK’s head of health information, said: “It’s worrying that ethnic background may be a factor influencing a woman’s chance of surviving breast cancer. We know that some ethnic populations carry higher genetic risks of getting certain types of breast cancer, but if this difference is down to symptom awareness or access to healthcare, that is particularly concerning.“More research is needed to look into the reason why young black women have higher rates of recurrence, but in the meantime women of any ethnic background should be aware of what is normal for their breasts and get any new lumps or anything unusual checked out by their GP. More often than not breast changes won’t mean cancer, but it’s best to get any unusual changes checked out.”BBC Newslast_img read more

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Willie Caroline Roessler

first_imgWillie Caroline Roessler (nee Greener), 76, July 8, 2019, Milan, IN, formerly of Harrison, OH.Beloved wife of Ronald “Ronnie” Eugene Roessler Sr., devoted mother of Rhonda Berne (Martin), Carole Mize, Ronnie Roessler Jr. & Donnie Earl Roessler (Angie), loving grandmother of 6, great-grandmother of 6, loving daughter of the late Nellie Evelyn (nee Tibbetts) & William Carl Greener, dear sister of the late Mary Etta Brown.Visitation Wed., July 10, 4 – 7 PM at the Dennis George Funeral Home, 44 S. Miami, Cleves, OH 45002, where the service will be held Thurs., July 11, at 11 AM. Memorials to the Sunman Life Squad, c/o the funeral home.www.dennisgeorgefunerals.comlast_img read more

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Double Trouble Trail Race Challenge dates set

first_imgORLAND — Two Downeast Double Trouble Trail Race Challenge events are set for Oct. 30 and Nov. 6, the Great Pond Mountain Conservation Trust and Frenchman Bay Conservancy announced Thursday.The GPMCT Wildlands Trail Race will take off Oct. 30 in Orland. It will be a 6.3-mile course on dirt roads. Registration is at 10 a.m., and the race will start at 11.The following Sunday, the FBC Autumn Trail Race will start and finish at Sullivan’s Sumner Memorial High School. It will be an eight-mile course over both paved and dirt roads. It will begin at 11 a.m.The race costs $20 and a $2 online registration fee for those who pre-register. For those who register on race day, the cost will be $25.This is placeholder textThis is placeholder textGo to www.GreatPondTrust.org or www.FrenchmanBay.org to register. You can also do so by calling 469-6929.last_img read more

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The Latest: 3 more MotoGP races canceled because of virus

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Three more MotoGP races have been canceled because of the coronavirus pandemic. The Latest: 3 more MotoGP races canceled because of virus Associated Press July 31, 2020 They were initially approved to test procedures ahead of a planned wider re-opening of stadiums in October.The Oval cricket stadium in London has been used as a test for fans returning in the last week.___Formula One driver Sergio Perez says he might have contracted the coronavirus during a trip to Mexico between races in Hungary and Britain.The Racing Point driver tested positive for COVID-19 on Thursday and will miss Sunday’s race at Silverstone and another the following week at the same track while in isolation.center_img Perez says he was visiting his mother in Mexico after she was hospitalized following a “big accident.”Perez says it is “one of the saddest days in my career” missing races “but it just shows how vulnerable we (are) to this virus.”The Mexican used a private jet to fly home and says he has no symptoms.The pandemic delayed the start of the season by more than three months.___ MotoGP says the races in Argentina, Thailand and Malaysia are off for this year.The series also added a race in Europe. It will take place in November after the race in Valencia. The venue for the additional race is still to be announced.___Britain has reversed course and now says spectators will not be able to attend sporting events in England because the coronavirus infection rate is rising.Fans were due to attend horse racing, cricket and snooker in the coming days as part of pilot events but Prime Minister Boris Johnson says fans will no longer gather at sporting events until at least Aug. 15. More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sportslast_img read more

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MBB : Living in limbo: Former SU players stuck waiting for NBA lockout to end

first_img Comments On a typical game day, Andy Rautins woke up at around 8:30 a.m. and jumped on his elliptical in his New York City apartment. The New York Knicks guard then left his place in the afternoon to get to Madison Square Garden for shootaround and an intense pregame workout.After his workout, he jumped on a bike until it was game time. The Knicks played whatever team came to MSG that night in front of raucous crowd. Win or lose, the players earned their paycheck.‘That’s our life,’ Rautins said. ‘That’s what we enjoy doing. It is a long season of 82 games. It does get a little repetitious at times, but you know it’s what we love to do, and I don’t think we’d rather be doing anything else.’But with the NBA lockout still ongoing, Rautins and six other former Syracuse players have been forced to deviate from their everyday schedules. As of Tuesday, the NBA formally told all teams games were canceled through Dec. 15. The players union disbanded, and the players filed a class-action antitrust lawsuit against the league.Without a season at this point, the players have had to search for other options to play basketball. Some have traveled the country, playing in exhibitions games. Others who weren’t signed before the lockout have gone overseas. For many of them, the lockout even brought them back to their college roots to keep playing the game.AdvertisementThis is placeholder textRautins is currently in Los Angeles, working out with professional players like Blake Griffin, Landry Fields, Corey Maggette, O.J. Mayo and Darren Collison, among others.The former Syracuse guard said there is a hotbed of pros in LA at this time and scrimmaging against each other is something that takes place on a daily basis. And while the games are meaningless, everyone competes at a high level.‘These guys are all stars in their own right,’ Rautins said. ‘They’re great players. They’ve been in the league for a long time, so it’s a great learning experience and a great way to stay in shape and on top of your form.’Rautins said other Syracuse guys like Wes Johnson are traveling around the country and playing in pro-am or charity games.Former SU star Carmelo Anthony recently announced he plans to host an all-star charity event in the Meadowlands’ Izod Center, according to an Oct. 20 New York Post article. Some stars already committed to participate in the game include Lebron James, Amar’e Stoudemire, Dwyane Wade and Chris Paul, according to the article.Although most SU players are in different cities at this point, many of them were right in Syracuse, using the Carmelo K. Anthony Basketball Center as a home base for summer workouts.Rautins, along with former players Johnson, Jonny Flynn, Eric Devendorf, Demetris Nichols and Terrence Roberts, scrimmaged with current Syracuse players almost every day in the summer. Rather than training with their NBA teammates, they were training with the current Orange roster.Current SU forward James Southerland said it made him feel like he was a freshman again with those guys around playing pickup games. And although Southerland is now a junior, he knows he still picked things up from the former SU players.‘Even when we’re just playing pickup, they were always teaching us things,’ Southerland said. ‘Wes would always tell me how to cover man-to-man, Andy always telling me keep staying low, running through screens and just making sure you’re shot always falls. They always go hard, and that shows you they’re a difference between the level in college and the NBA.’Freshman Michael Carter-Williams said Johnson and Nichols gave him some advice while they were in Syracuse during the summer.After being a star in high school, he comes off the bench for teammates Scoop Jardine and Brandon Triche this season. He said he was better prepared for this year because of their tutelage.‘Every day I think of what they told me because they made it, and I just want to make it just like them,’ Carter-Williams said.For some former players competing in the NBA Development League or overseas, the lockout hasn’t affected their ability to continue to play professionally.Devendorf was recently drafted by the Idaho Stampede of the NBADL, which is not affected by the lockout. Devendorf is currently preparing for training camp and said though he might not be playing on the biggest stage, it is comforting to know he is playing in some organized league.‘It feels good,’ Devendorf said. ‘I’m ready to play. I’m ready to get going. I know those guys feel the same way, so I’m just happy that I have the opportunity to play somewhere.’For former players Arinze Onuaku, Roberts, Nichols and Darryl Watkins, that opportunity is overseas, associate head coach Bernie Fine said. Rick Jackson, who was not drafted by an NBA team in April, is also playing in Europe.Rautins doesn’t consider that a viable option just yet, though. He said to consider going overseas, the entire season would have to be canceled.And with how things are going, that outcome looks more and more likely.Michael Veley, chair of the SU sport management department, said on Monday that he doesn’t see the players or the owners budging in their demands. As a result, he said he wouldn’t be shocked to see the season canceled.Sport management professor Rick Burton agrees. Because the players union decertified, the time frame to get a deal done will be pushed back.‘Going with the most up-to-date information, if this says to me the players have rejected the deal, my sense is we’re not going to have basketball for a while,’ Burton said Monday.With each day the lockout continues — currently at 140 days — frustration grows among players who just want to get on the court.For Rautins, he just wants to get back to his routine from a year ago with the Knicks. Though he essentially keeps the same schedule out in LA, he said two major things are missing from those pickup games.There are no fans in the bleachers. And there is no paycheck waiting for him.‘It’s tough. It’s really frustrating,’ Rautins said. ‘Everybody’s really opinionated. Everybody got their views. Is it the owners’ fault, is it the players’ fault? Who’s being more stubborn? But at the end of the day, we just want to play.’dgproppe@syr.edu Published on November 16, 2011 at 12:00 pmcenter_img Facebook Twitter Google+last_img read more

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Syracuse football recruiting: 5-star tight end Chris Clark will transfer to Syracuse

first_img Facebook Twitter Google+ Published on October 15, 2015 at 7:12 pm Contact Jesse: jcdoug01@syr.edu | @dougherty_jesse Tight end Chris Clark will transfer to Syracuse, he confirmed to The Daily Orange in a text message Thursday evening. The news was first reported by Mike McAllister of Scout.com.Clark was ranked as a five-start tight end coming out of Avon Old Farms (Connecticut) School. Syracuse was the first team to offer him, but he later drew interest from a number of top-flight schools. He was once verbally committed to North Carolina, then Michigan and then settled on UCLA. He left UCLA earlier this season due to homesickness and SU reentered the fold.Since reopening his commitment, Clark has visited a handful of schools — including Syracuse — and chiseled his options down to SU and Pittsburgh. Clark initially said he’d wait until visiting Syracuse again for the Orange’s homecoming game against the Panthers on Oct. 24, but decided to commit sooner rather than later.Before transferring to Avon Old Farms, Clark played with current Syracuse freshmen Davison Ellison and Kyle Kleinberg at Don Bosco (New Jersey) Preparatory High School. Over the last few weeks, Clark has been exchanging tweets with his friends on the Syracuse roster and it figures to be a key factor in his decision.AdvertisementThis is placeholder textClark does not know whether he’ll have to sit out a rule per NCAA transfer rules, he said in a text message. He did not, however, make it clear what could allow him to play in the 2016-17 season. Commentslast_img read more

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Tyler Lydon a game-time decision for Wednesday’s matchup against St. John’s

first_img Facebook Twitter Google+ Tyler Lydon will be a game-time decision for Wednesday night’s matchup with St. John’s, Syracuse basketball spokesman Pete Moore said at practice Tuesday. Lydon will be limited in practice, which began at 2 p.m., according to Moore.During the open portion of Tuesday’s practice, Lydon stretched, lightly jogged with the team and participated in a low-intensity shooting drill. Lydon’s entire right leg below his knee was wrapped.Lydon strained his right Achilles tendon late in the first half Monday against Eastern Michigan, when he landed flat on his right foot after skying for a rebound. He limped off the court before hobbling to the locker room with trainer Brad Pike.The sophomore forward emerged from the tunnel as the second half began in a blue T-shirt and sweatpants before sitting in between Mike Hopkins and Gerry McNamara on the bench. He didn’t play the entire second half but already had 12 points, six rebounds and four assists to his name.The Orange (7-4) will look to avenge last season’s loss to the Red Storm at Madison Square Garden when the two teams tipoff at 7 p.m. in the Carrier Dome.AdvertisementThis is placeholder text Comments Published on December 20, 2016 at 2:17 pm Contact Matt: mcschnei@syr.edu | @matt_schneidmanlast_img read more

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Myers’ walkoff shot gives Padres 10-7 win over Mariners

first_img Written By FOLLOW US Associated Press Television News COMMENT First Published: 28th August, 2020 06:56 IST WATCH US LIVEcenter_img SUBSCRIBE TO US Wil Myers hit a game-ending three-run homer with two outs in the seven-run seventh inning for the San Diego Padres, who got two homers and four RBIs from Manny Machado in beating the Seattle Mariners 10-7 Thursday in the first game of a doubleheader.The first game was a makeup of Wednesday night’s game, which was postponed after the Mariners voted unanimously not to play as a protest of the shooting of Jacob Blake in Kenosha, Wisconsin. The Mariners have the most Blacks in baseball, eight on the active roster and 11 on the 40-man roster.San Diego rallied from a 7-3 deficit to stun the Mariners, scoring all there runs with two outs. After Craig Stammen allowed four runs in the top of the seventh, Seattle’s Taylor Williams (0-1) gave it right back in the bottom of the inning. He gave up a two-run, bases loaded single to Machado. Another run scored on a wild pitch and Eric Hosmer tied it with an RBI single.Dan Altavilla came on and allowed rookie Jake Cronenworth’s single before Myers homered to left, his eighth.Pierce Johnson (3-1) got the win.The Padres had tied the game 3-3 with impressive home runs by Fernando Tatis Jr. and Machado opening the sixth inning. Tatis hit his big league-leading 13th homer an estimated at 448 feet onto the roof of the Western Metal Supply Co. Building in the left-field corner at Petco Park, making him just the second Padres player to homer to the top of the landmark.Machado followed with a shot into the second deck in left field, his second of the game and ninth this season. Both were off Matt Magill.Stammen allowed all five batters he faced to reach, including Sam Haggerty, Kyle Lewis and Kyle Seager with RBI base hits. Seager’s hit chased Stammen, and Austin Nola hit a sacrifice fly off Johnson.Until San Diego’s impressive home runs, the Padres were trailing a Mariners team getting big contributions from two rookies pressed into duty without much notice. Ljay Newsome pitched four strong innings in his first big league start after Taijuan Walker was traded earlier in the day, and fellow rookie José Marmolejos hit a two-run homer after being added as the “29th man” for the doubleheader.Newsome, 23, made the emergency start about three hours after the Mariners announced they sent Walker to the Toronto Blue Jays.Newsome, making his second big league appearance, retired the first seven Padres batters and 10 of 11 before Machado homered to left-center with one out in the fourth, his ninth. Newsome allowed three hits, struck out four and walked none.The Mariners took a 3-0 lead off Dinelson Lamet (2-2) in the fourth. Marmolejos, who entered an inning earlier at first base after Evan White left with an injury, homered to left-center with one out and Kyle Seager aboard on a leadoff walk. Jake Fraley singled, stole second and scored on Shed Long Jr.’s single.Lamet allowed three runs and five hits, struck out six and walked three.PADRES POINT OF VIEWManager Jayce Tingler said that while the Padres have diverse group of players and respected the Mariners decision not to play Wednesday night, they had a different plan of action and wanted to play.TATIS JR.Tatis, San Diego’s shortstop, committed his first error of 2020, in his 30th game. He committed 18 in 2019, when he was third in voting for NL Rookie of the Year.TRADEThe Mariners announced the Walker trade about three hours before first pitch. They’ll get either a player or cash in return. Walker was 2-2 with a 4.00 ERA in his second stint with the Mariners.UP NEXTMariners: LHP Yusei Kikuchi (0-2, 6.30 ERA) was scheduled to pitch the second game.Padres: RHP Garrett Richards (1-1, 3.52) got the call for San Diego.Image credits: AP LIVE TV Last Updated: 28th August, 2020 06:56 IST Myers’ Walkoff Shot Gives Padres 10-7 Win Over Mariners Wil Myers hit a game-ending three-run homer with two outs in the seven-run seventh inning for the San Diego Padres, who got two homers and four RBIs from Manny Machado in beating the Seattle Mariners 10-7 Thursday in the first game of a doubleheaderlast_img read more

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