first_imgIn contrast, low-volatility manager Quoniam performed worst, it said.The pension fund credited its currency hedge for contributing 3.1 percentage points to its overall gain of 7.5%. The €25.5bn pension fund of Dutch banking group Rabobank has slashed its equity holdings by almost 5 percentage points in favour of government bonds and credit.In its annual report, it indicated that its decision had been triggered by the growth of its equity portfolio, which yielded 9.2% last year.It reduced its equity exposure to 38.2% at the end of 2017.Emerging markets in particular performed well, the scheme said, with asset manager Fidelity outperforming its benchmark by almost 6.7% while focusing on quality and growth. Rabobank’s headquarters in Utrecht, NetherlandsRabobank’s 40.4% fixed income allocation gained 0.2% overall, largely due to its credit holdings, which benefited from a reduced risk premium as a result of improved economic conditions, as well as the ECB’s quantitative easing programme.With a yield of 8.6%, infrastructure had performed well for the fifth consecutive year, according to the Rabobank Pensioenfonds.It cited “enthusiasm among governments embracing new projects” as well as the development of data sets and benchmarks.Rabobank has targeted a 2.5% allocation to infrastructure, which it expects to achieve by 2020.The scheme attributed the 0.2% profit from its private equity holdings predominantly to the J-curve effect of the portfolio, which is still under construction, as well as the currency effects of the US dollar.Commodities and high yield credit returned 5.9% and 6.2%, respectively.The annual report showed that residential property had significantly contributed to the 8.7% gain on the scheme’s overall property portfolio, which made up 10% of its total assets. Portfolios managed by Syntrus Achmea Real Estate & Finance and Bouwinvest Residential Fund delivered 19.5% and 15.6%, respectively.It added that it wanted to make 15% of its residential property energy-neutral by 2030.The Rabobank scheme also reported that it had divested its Dutch office and retail holdings, and that it was planning to gradually sell out of its international funds.The pension fund said its sponsoring employer had made an additional contribution of €160m to guarantee that annual pensions accrual could be maintained at 2%, as a consequence of an agreement with the trade unions when it switched to collective defined contribution arrangements in 2013.It granted its participants a 0.2% indexation last month. At June-end, its coverage ratio stood at 117.7%.Last year, the scheme saw a sharp decrease of the number of active members, which dropped by 4,600 to 27,924 in the wake of reshuffles within the business.As a result of the falling number of contributing employees, administration costs rose from €236 to €241 per participant and the number of pensioners’ representatives on the board and the accountability body had increased relative to workers’ delegates, the scheme said.last_img read more

first_imgWriter: Chidiebere AnugwoluRelatedLagos International Badminton Classics: Chronicle Of Upsets In Day 2July 28, 2017In “Sports”Lagos International Badminton Classics Record Upset In Day OneJuly 27, 2017In “Competition”Indians And Sri Lankans Dominate Lagos International Badminton Classics 2017July 30, 2017In “Sports” The day three (3) of the 2017 Lagos International Badminton Classics has left delirious fans and Badminton enthusiasts at the edge of their seats and wanting more as it culminated to be the most exciting day yet for the four day international challenge at the Molade Okoya Indoor Sports Hall, Teslim Balogun, Surulere.Lagos and Nigeria’s remaining hopes in the men’s singles event, Anuoluwapo Opeyori, was eliminated in the quarter finals by arguably, the most impressive player thus far in the competition Chittaboboina.Like eating a biscuit and faltering in predicting where it cracks first, the third day witnessed by far the highest degree of upset after top seed in the men singles category and former winner, Misha Zilberman, was knocked out by tournament 4th seeded Egyptian and Anuoluwapo’s nightmare—Chittaboboina in a thrilling three set encounter(21-13, 22-24, 21-14) to reach this year’s final.Some of the biggest highlights in the women’s category saw Nigeria’s top seed and tournament’s 8th seed, Dorcas Adesokan knocked out by Mugdha Agrey of India; 21-10, 19-21, 21-12 in a keenly contested three games.Nigeria’s nearly dashing hopes in the competition bumped to live again in the female doubles and men doubles categories .In the men doubles, the duo of Anuoluwapo Opeyori and Godwin Olofua ran away in a rather emphatic fashion in two straight sets, thrashing their Egyptian opposition, Abdelhakim and Ahmed Salah 21-10, 21-16 to progress to the finals—an unprecedented feat for the duo.Also, in the female singles category, the impressive Nigerian pairing of Zainab Momoh and Ramatu Yakubu defeated Sri Lanka’s Hendahewa and Ishadika Kavidi in a nervy three set encounter—14-21, 21-18, 21-15.In what was one of the best come backs of the championship, the Nigerian women doubles duo fought back into the game in second set after losing the first set and then showing some class to pip their opposition from Sri Lanka; -1-2 in major scores.The fourth and final day of the biggest Badminton tournament in Africa—the Lagos State International Badminton Classics would see all the action climax with plenty of giveaways for keen fans which includes a return ticket to London and Ghana.last_img read more

first_imgDear Editor,“If you say that you love God, but don’t care for his people, then it has no meaning – Gurudev Sri Sri Ravi Shankar”It is an established fact that only His Excellency, President David Granger is empowered by the Constitution to call elections, not GECOM. So, this whole myth of GECOM having to advise the President on a date is exactly that, utter gobbledygook from those who are subscribing to this myth. Mr Granger’s actions since December 21, 2018, reflects one that is unaccountable, aloof and distant from the people. The longer they hide from the people the greater the political damage to the Palm Tree with a key superimposed for cosmetic purposes. Are the thinkers in the PNC totally blind to this fact?Since GECOM held elections in November 2018, that institution has in place a valid list that expires on April 30, 2018. So, there is nothing preventing the President from doing his job in accordance with the Constitution. Therefore, this high nonsense being peddled by the GECOM Commissioner, Vincent Alexander, is exactly that; a determined attempt to mislead and distort the truth. I would not want to call the gentleman an untruth peddler, but all I am seeing is grave acts on his part of subterfuge and deception in service to his masters in Congress Place. Is this the legacy he wants to be remembered by – the man who frustrated democracy?All the voters want is adherence to the rule of law, free and fair elections so that they can have a framework that will facilitate their economic and social upliftment. So why is Mr Alexander bent on destroying democracy?Granted that the President is bedridden, the functioning of the Presidency does not stop. Who is tasked with the responsibility to get out and understand what is going on out there in the villages of Guyana on behalf of the President? Who is tasked with carrying out his constitutional functions while he is in bed? This nation needs leadership now and Mr Granger must step up or please have some dignity and step out.Sincerely,Sasenarine Singhlast_img read more