At the end of March, total assets under management for Spain’s occupational pension funds stood at €35.3bn, a 1% reduction over the year.Figures from Mercer’s Pension Investment Performance Service (PIPS) backed up INVERCO’s findings, showing that Spanish pension funds lost 1.4% over the first three months of 2018. The PIPS survey covered a large sample of pension funds, most of them occupational schemes.According to the survey, equities as a whole incurred losses, with euro-zone equities down 2.9% and non-euro-zone holdings losing 3.3%.Non-euro-zone fixed income lost 3%, but euro-denominated debt delivered a 0.3% gain over the quarter. Non-eurozone assets as a whole were hit by the strengthening euro, Mercer said.The survey also showed that alternatives made a median loss of 0.4% while real estate was down by 0.1% over the quarter.In terms of asset allocation, domestic assets continued their gradual decline to 53.2% of portfolios at the end of March, according to INVERCO. Non-domestic assets continued to rise, from 29.6% at end-December 2017 to 31.3% three months later.Over the same period, average allocations to fixed income decreased slightly to 47%, while equities weightings rose to 34.6% on average.Spanish government bonds still made up the biggest single component of pension portfolios at 23.9%, with a further 13.8% in domestic corporate bonds.Xavier Bellavista, principal at Mercer, said: “The equity allocation is generally similar to what it was at end-2017, but it is remarkable that it has reached its highest since the period before the financial crisis in 2008.”According to Bellavista, Spanish pension funds maintain a percentage allocation in equity assets similar to those of pension funds in other European countries, but weightings are significantly different for bonds and alternatives.He said that within the fixed income allocation there had been a shift from domestic towards non-domestic assets.Bellavista added that Spanish funds were “still at the discussion stage” when it came to allocating more to alternatives. Poor first-quarter equity performance in 2018 has squeezed average returns from Spain’s occupational pension funds to 0.5% for the 12 months to end-March 2018, according to the country’s Investment and Pension Fund Association (INVERCO).This compared with a 3.2% return for the calendar year 2017, and a 5.6% return for the 12 months to end-March 2017.INVERCO said that equity markets had experienced pronounced corrections in the first three months of this year, prompting losses on pension fund portfolios with bigger equity exposures.This caused the average annualised returns for Spanish occupational funds to drop to 0.8% for the three years to 31 March 2018, and 4% over five years.
Published on March 11, 2017 at 11:28 pm Contact Tomer: firstname.lastname@example.org | @tomer_langer Syracuse men’s indoor track and field finished 10th at the NCAA Championships on Saturday afternoon, the best finish in program history. The Orange was led by distance runner Justyn Knight and hurdler Freddie Crittenden. Both were runner-ups in their respective events.Adam Palamar, the other SU member to qualify, ran the mile, finishing with a time of 4:06:47, good for fifth place. Crittenden was next, running the 60-meter hurdles. It was his second straight second-place finish at the NCAA Championships. He ran in 7.67 seconds, nine seconds from first place.Knight ran the 3000 meters in 7:56.21. He was just three-tenths of a second slower than the first-place finisher, Oregon’s Edward Cheserek, who finished with a time of 7:55.91. It was the second time he’s been the runner-up in an NCAA Championship. He previously finished second in the NCAA Cross Country Championships in November.SU opens its outdoor track and field season on March 31 at the Florida Relays. Comments AdvertisementThis is placeholder text Facebook Twitter Google+
KINGSTON: There was a riveting end to the Jamaica Cycling Federation’s Kingston Criterium on Sunday at the Kingston waterfront as national and regional champion Marloe Rodman dominated a strong field to win the feature event and finish as the top rider. Visiting Michel Smith from the Cayman Islands and Cleveland Sharpe of Fresh Vibez Cycling Club were second and third, respectively. In the 15-lap feature race, Rodman – who jumped out to an early lead – delivered something special. Approaching lap 12, the 2014 Commonwealth Games athlete had already lapped five cyclists and by the time they finished, he did what several spectators thought impossible – lapping the entire field of riders. “I was pushing all the way as I really wanted to put on a show for all those who came out to support the event,” said Rodman. “I could hear them cheering me on to go after the pack of riders and it helped to motivate me to keep going and finish the race strong. “… I think it was a great thing for cycling in Jamaica. We need more events like this to showcase and find new talent,” added Rodman. “This was an important race for me also as it is crucial to my preparation ahead of joining the Bike Haus team in the UK, as well as the upcoming Cycling World Championship, for which I have qualified.” Rodman also finished the day as the Category One champion ahead of the Clarendon Cycling Club pair of Oneil Sinclair and Dean Martin, in second and third, respectively. Team Breakaway Cycling’s Dean Robertson topped Category Two, with Robert Barnes in second and Mario Brooks, also of Team Breakaway, third. In Category Three, Fitzroy Walters took the top spot ahead of Jermar Brissett of Breakaway Cycling and Barrington Bailey of Clarendon Cycling. Category Four was won by Jerome Forrest of Clarendon Cycling, with Endurance Cycling’s Recardo Blackwood second and Daniel Palmer of Team Blissett third. Roger Allen took Category Five ahead of Ishmael White and Tevan Richards, in second and third, respectively, while in the Juniors category, Andrew Ramsay was the top performer, with Aduella Ottey second and Ashani Beckford third. The Juvenile category was won by Tadre Watt, with Sheldon Virgo and Jesse McClure second and third, respectively. The female race was won by Judy Chin, who finished just ahead of Deonne Caines, with Sanesha James taking third. The Masters event saw Richard Smith winning ahead of Raydeem Lawson and Cleveland Sharpe, respectively. Donald Davis was the best in the Super Masters category, finishing ahead of Donald Hall and Devon Beckford, respectively. The All Comers ‘Rambo Race’ was won by Anthony Bagalue, with Rayon Whyte second and Omar Dwyer third. Team Breakaway won the award for best team participation, while Clarendon Cycling took the award for best team performance. CATEGORY FOUR FORREST CLAIMS