Equity performance squeezes Spanish pension fund returns in Q1

first_imgAt 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.last_img read more

Novatek expands LNG projects’ resource base

first_imgRussia’s largest independent natural gas producer Novatek has expanded its resource base for implementing its new liquefied natural gas (LNG) projects. The company said on Friday its two units, Arctic LNG-2 and Novatek-Yurkharovneftegas obtained new license areas in the Yamal and Gydan peninsulas.Arctic LNG-2 won the bid for a geological survey, exploration and hydrocarbons production license for the subsoil area including the Shtormovoye field, for a term of 30 years.The license area is located on the Gydan peninsula and is partly offshore in the Gydan and Ob bays in the Kara Sea bordering the company’s Utrennee field and contains estimated hydrocarbon resources of 7,932 mmboe according to the Russian resource classification.Novatek-Yurkharovneftegas won the bid for a geological survey, exploration and a 27-year hydrocarbons production license for the subsoil area including the Verhnetiuteyskoye and the West-Seyakhinskoye fields.The license area is located on the Yamal peninsula in close proximity to the South-Tambeyskoye field and contains estimated hydrocarbon resources of 8,747 mmboe according to the Russian resource classification.last_img read more

Twisters Sectional 60 Champs

first_imgThe Oldenburg Academy Twisters won their very first Sectional Title over the Weekend with a 53-37 victory over The Rising Sun Shiners.  This is the 13th season of boys basketball at Oldenburg Academy.  This year is their first winning season.  They ended the regular season at 10-9.The Twisters won three games at The South Decatur Sectionals including a 78-62 1st Round  win against Hauser on Tuesday night.  They followed that up defeating Jac-Cen-Del 61-55 in the Sectional Semi-Finals on Friday night.  OA captured The 1a Sectional 60 Crown on Saturday Night beating Rising Sun.The Twisters will be playing at The Martinsville Regionals this Saturday to battle The Clay City Eels in Game 2.  The Tipoff will be around Noon.  Game 1 will be The Greenwood Christian Cougars squaring off against The Indy Metropolitan Pumas starting at 10.Listen to WRBI for our Regionals Doubleheader starting with The Greensburg Pirates going up against The Silver Creek Dragons at The Washington Regionals starting at 10.  WRBI’s Countdown To Tipoff will be around 9:20.A special thanks to Jonathon Maple at Oldenburg Academy for the pics.Congrats to The Twisters and Coach Moorman from The Sports Voice-Country 103.9 WRBI!last_img read more

Messi: Break could help us in title push

first_img read also:Messi trains under Setien’s guidance after surprise claim Talking to Sport, Messi admitted that: “Maybe this pause in play will end up benefiting us, but let’s see if the competitions we’re in can get started again first. “Then we will be able to see the level we are at or how far we can go once we get started again.” FacebookTwitterWhatsAppEmail分享 Barcelona captain, Leo Messi, is upbeat on their season prospects once it resumes. La Liga stopped in March due to the pandemic after Barça had moved back to the top of La Liga, although the sensations from the team’s previous games were not especially good. In Europe, they had drawn with Napoli and they had to beat them at Camp Nou to reach the last eight of the Champions League (the game didn’t go ahead as planned in the end).Advertisement Promoted Content8 Things You Didn’t Know About CoffeeHow They Made Little Simba Look So Lifelike in ‘The Lion King’Who Earns More Than Ronaldo?10 Places On Our Planet Where The Most People Live10 Body Features That Are Extremely Rare But Very Remarkable8 Scenes That Prove TV Has Gone Too FarTop 7 Best Car Manufacturers Of All Time7 Black Hole Facts That Will Change Your View Of The Universe7 Facts About Black Holes That Will Blow Your MindBest & Worst Celebrity Endorsed Games Ever MadeWhich Country Is The Most Romantic In The World?Lil Nas X’s Hit Song Is Becoming The Longest #1 Song Ever Loading… last_img read more

Rayo Vallecano players skip training over pay dispute

first_imgRelatedPosts Italy introduces compulsory virus testing for travellers from France Nigeria records new COVID-19 infections, more deaths as figures rise to 57,242 I was in best of forms before Tokyo Paralympics was postponed — Powerlifter Ejike Team members of Spanish second division side Rayo Vallecano refused to turn up for the first day of group training, a club source said on Monday.The refusal was due to a dispute with the club hierarchy over a pay cut for staff and players. Every club in Spain’s top two divisions held group training on Monday for the first time since play was halted in March due to the coronavirus pandemic.However, Rayo Vallecano’s players were given an individual programme to follow at home, the source added.In May, Rayo Vallecano joined a large number of Spanish clubs in introducing a temporary pay cut underwritten by the government, known as an ERTE, after the season was provisionally suspended.Coach Paco Jemez criticised the pay cut, however, arguing that it was not necessary as the club was in a healthy state financially.Jemez called for all non-playing staff to receive their full wages during the period. Reuters/NAN.Tags: CoronavirusPaco Jemezpay cutRayo Vallecanolast_img read more

MBB : Faster start important for Syracuse as it enters third-round game with Kansas State

first_img Comments Published on March 16, 2012 at 12:00 pm PITTSBURGH – Dion Waiters has a feeling Syracuse won’t come out sluggish on Saturday.After three tough contests in a row, he sees an attitude change in his teammates. The opening minutes against Kansas State, he believes, are going to go the Orange’s way.‘I feel as though we’re going to come out ready,’ Waiters said. ‘I can see it in everybody’s face. Everybody, the way they’re talking about it. We’re going to come out to a great start tomorrow.’If the top-seeded Orange (32-2) starts out hot against the No. 8 seed Wildcats (22-10), it will be a break from Syracuse’s recent trend. SU has trailed at halftime in two of its three postseason games, and in its last game of the regular season against Louisville, the Orange didn’t lead until almost 13 minutes in. That stretch has led to three single-digit wins and Syracuse’s second loss of the season.But Syracuse expects that to change at 12:15 p.m. in the Consol Energy Center on Saturday.AdvertisementThis is placeholder text‘It’s definitely important,’ forward James Southerland said. ‘If we throw the first punch, basically, I feel like we’ll have them on their heels, and we’ll be ready instead of giving them confidence by letting them throw the first punch.’Syracuse hasn’t thrown the first punch since Feb. 25, when it ran out to a 14-point halftime lead against Connecticut.The flatness to start games cost the Orange a shot at the Big East tournament title. Cincinnati buried eight 3-pointers and took a 34-17 lead after 15 minutes of action. Thursday, it nearly cost SU a birth in the third round of the NCAA Tournament.No. 16 UNC Asheville jumped out to a 34-30 halftime lead while Syracuse’s offense sputtered.C.J. Fair made it clear that underestimating the undersized Bulldogs had nothing to do with it.‘We didn’t take them lightly,’ he said. ‘We just came out a little sluggish against them.’Part of the issue has been the early struggles by seniors Kris Joseph and Scoop Jardine. Head coach Jim Boeheim said after the loss to Cincinnati those seniors have determined Syracuse’s success for most of this year.Joseph is 3-of-18 with just 10 points and seven rebounds in the first halves of the last four games. Jardine hasn’t scored in three of those four halves and has just two points, six rebounds and eight assists.The seniors have been able to turn it on after halftime, but Jardine knows they’ll have to show up for the entire game if SU hopes to move on to the Sweet 16.‘We can’t allow that to happen as we advance in the tournament,’ he said. ‘We got to bring it for 40 minutes. The guys are looking to us to bring that intensity and bring that sense of urgency to the basketball game on both ends of the floor.’The explanations for SU’s slow starts have varied. Waiters said it was partly just misfortune, good shots simply weren’t falling. Southerland thought it was a lack of defensive awareness and pointed to Cincinnati’s eight first-half 3s as an example. He also added SU has had a lack of communication on the floor.But whatever has ailed the Orange at the start of games, it feels confident it will come out strong against Kansas State.Especially after a slow start almost sent it home early Thursday.‘Yesterday we got our jitters out,’ Fair said. ‘Tomorrow’s a new day. Everybody’s just got to keep being aggressive like they’ve been. Our shots are going to fall. I’m still confident in each one of my teammates to come out there and play well.’zjbrown@syr.educenter_img Facebook Twitter Google+last_img read more

LIVE BLOG: Wisconsin vs. Indiana

first_imgWelcome to the Herald Sports live blog! I’m Mike Fiammetta, and I’m here at the Kohl Center with Herald Sports editor Elliot Hughes.We’re set for what’s sure to be a fantastic night of hoops as the No. 25 Badgers (16-5, 5-3) are set to host the No. 16 Indiana Hoosiers (16-4, 4-4) in a conference battle with plenty at stake in the Big Ten race.Wisconsin is coming off a strong performance on the road Sunday that resulted in a 67-63 win over Illinois. Point guard Jordan Taylor continued his stellar play of late, dropping 19 points while pulling down nine rebounds and dishing out five assists. Taylor’s improved play since the non-confernese season and early Big Ten play has been vital to the Badgers, who are now riding a 4-game win streak.Indiana, meanwhle, has seen its fortunes fade in January, where the Hoosiers are 3-3. Despite losing three of their last four games, the Hoosiers do have a tendency to be somewhat tricky on the road. IU is 3-3 on the road this season, though the Badgers have, as usual, been hard to beat here at the Kohl Center. Despite losing two games at home earlier this season, Wisconsin has rebounded with a 10-3 home record.Tonight’s matchup will be a a battle of clashing strengths, as Wisconsin boasts the Big Ten’s (and the nation’s, at that) stingiest scoring defense at 49.6 points allowed per game. Indiana, meanwhile, is the conference’s top scoring offense (No. 15 in the country) at 79.8 points per game.Anyway, thanks for joining us on the live blog below (we’ll also be on Twitter @BHeraldSports) and have a great Thursday night.<a href=”http://www.coveritlive.com/mobile.php/option=com_mobile/task=viewaltcast/altcast_code=cb9541f7ae” >Wisconsin vs. Indiana</a>last_img read more

D’Tigers Final 12-Man List For 2017 FIBA Afrobasket Released

first_imgD’Tigers of Nigeria head coach, Alex Nwora has released the final 12-man list of players that will represent Nigeria at the 2017 FIBA Afrobasket.The final 12-man list include captain, Diogu Ike, Washington Wizards center Daniel Ochefu, Abdul Yahaya, Dike Azuoma, Deji Akindele. O’karo Akamune, Bryant Mbamalu, Ike Nwamu, Akin Akingbala, Ike Iroegbu, Anthony Odunsi and Kelechi Anuna.Two home-based players, Victor Anthony and Musa Usman will travel with the team to the continental tournament despite not making the final 12-man cut.The team, lead by Head Coach, Alex Nwora, will depart Nigeria for Tunis, Tunisia by 6.20am Wednesday morning via a Royal Air Maroc flight.The defending champions, D’Tigers are in group A alongside, DR Congo, Mali, and Cote d’Ivoire.The 2017 FIBA Afrobasket Championship tips off from Friday 8 – 16 September in two cities, Tunis, Tunisia and Dakar, Senegal.RelatedEight Players Sent Home As D’Tigers Gears Up Preparation For 2017 FIBA AfroBasketSeptember 3, 2017In “National Team”D’Tigers Begins Afrobasket Title Defence TodaySeptember 8, 2017In “National Team”Ike Diogu Sets Sights On 2019 FIBA World Cup TicketJune 29, 2018In “Africa”last_img read more

Charles Woodson leaving ESPN

first_imgCharles Woodson’s tenure as a broadcaster with ESPN is over, the 1997 Heisman Trophy winner and former NFL great announced Thursday. The 42-year-old Woodson, who spent 18 seasons in the NFL, shared a message on Instagram as he thanked ESPN and his on-air “Sunday NFL Countdown” colleagues — Sam Ponder, Randy Moss, Matt Hasselbeck and Rex Ryan. Woodson shared the set with them for the past three years after retiring from the NFL in 2015.  “You have given me the opportunity immediately out of the NFL to work in television. It’s been a wonderful three years. It’s been a blast. I’ve learned a lot, had a lot of fun, gained some great friends,” Woodson said, in part. View this post on Instagramcenter_img Many thanks to @espn @espnnfl it was a good run!!A post shared by Charles Woodson (@charleswoodson) on Feb 7, 2019 at 7:53am PSTWhile Woodson didn’t reveal what’s next, the former All-Pro defensive back alluded to his next venture as he said, “For everybody out there who may have tuned in and watched me every week. I’ll see you next season somewhere. Stay tuned.”Woodson has been selected to the 2018 class of the College Football Hall of Fame and joined Michigan’s Hall of Honor in 2017 over the past three years. He was a nine-time Pro Bowl selection in his career with the Raiders and Packers.last_img read more

‘Hard work pays off’: The making of Pirates slugger Josh Bell

first_imgThat hard work he’s been putting in since he was a kid in high school is still paying off, and back then he wasn’t just learning that work ethic from his dad. Bell said he remembers watching his mom sit up at night or early in the morning writing her book on teaching and learning about diversity. Sometimes when the family would go on trips to other cities for his baseball tournaments, she would have to bring her laptop with her, but for the most part she sacrificed a little sleep so she could get her work done and then be with her family during the day. Those memories still stick with Bell many years later, and watching his mother work hard at her craft influenced how he’s always worked at his.“It’s just hard work pays off,” Bell said, “and I saw that from both of my parents.” Ask his mother or his high school baseball coach and it’s apparent pretty quickly that there isn’t one because there are actually so many that it gets hard to single one out. For his mother, Myrtle Bell, a college professor, there are not only the ones she saw when Bell was 5 years old at the field by their house outside Dallas, there are the ones in high school, the ones she doesn’t even remember — the ones former teammates or even former opponents come to tell her about.MORE: Watch ‘ChangeUp,’ a new MLB live whiparound show on DAZNAsk Josh himself, and he practically shrugs off the Paul Bunyon-esque longball exploits of his youth.“I never really looked at myself as a power hitter,” Bell told SN. “I was always like, never strike out.”But mom remembers it differently.When he was just 5, she and her husband Earnest would take him to a nearby youth baseball diamond and throw to him. And he would launch the ball over the fence and over the street behind it. From both sides of the plate.“It was comical,” Myrtle Bell said. Whichever of Bell’s many home runs capture the imagination and stick in the memory, the player we see today is doing what he’s doing because he has just the right combination of natural strength and athleticism, and he applies a strong work ethic to go with it.Both of those things are a testament to his parents. His father, a retired computer engineer who looks like he could bench press a Buick, didn’t play baseball himself, but when his son was very young he took some of his knowledge of the game and knew early that teaching Bell to switch hit would be wise.“He learned to investigate and troubleshoot and figure out what would be best,” Myrtle Bell said. “So he studied the game of baseball. … He studied and he read about switch-hitting, and he decided to make Josh a switch hitter.”Those childhood lessons took easily, and then as Bell got into youth baseball, his father would always have him play a level up against kids at least a year older than he was. And then as a high school player at Jesuit College Prep in Dallas, Bell would regularly stick around after practice to do more work. His dad would either be there with him or he would write down for Bell what he should do.“A half-mile of lunges after the game, or run backward for a half-mile after practices and whatnot,” Bell said of those days.No big deal, the way he describes it now. Occasionally a teammate would decide to stay after practice and try to do it with him, but Bell’s mother never saw any of them do it more than once. Some of them will approach her now to talk about the bombs they remember him hitting back in high school, like the one he hit out of the Baylor University ballpark and into the Brazos River in 2011 when he was a senior. “People joke that it’s still floating out there,” she said.The guys who played against Bell back then have their own stories too. In June when the Pirates were playing in Houston, a young lady approached Myrtle Bell in the stands to introduce herself because her boyfriend once pitched against Bell and Bell took him deep. Almost a decade later, he still remembers it well. But for Bell’s mother, it’s just one of many in her memory.And even the hits that didn’t go out of the park still stand out to the ones who watched him play in those days.MORE: Rays’ underdog attitude paving way for potential powerhouseBrian Jones, who came to coach Jesuit in 2009 for Bell’s junior year, still loves to talk about the time at a tournament in Austin that fall when Bell hit two home runs from the left side of the plate in his first two at-bats, and then when he came up for the third time, the other coach put in a left-handed pitcher, thinking they would avoid getting hurt a third time. So Bell moved to the right side of the plate. The other coaches were incredulous, Jones said, audibly questioning just who Bell thought he was.“So he proceeds to hit one into probably a 10-mph wind, a line drive straight to the center field wall,” Jones said. “The kid catches it, but when he hit that ball you could have heard a pin drop in that stadium.”Otherwise, Jones has trouble pinning down just one memorable homer from Bell’s high school career. There’s the Baylor home run, of course, but also one he hit during his senior year when the team was playing a game at the Ballpark at Arlington that hit the back wall of the Rangers’ bullpen. And even without the home runs, Jones could see that he had something special in Bell.“You could see things the way he ran the outfield, you could see things the way he ran the bases. You could see how he put in work. He was just a skinny 6-2 at that time. He really hadn’t formed body weight or anything along those lines,” Jones said. “But you could definitely see the potential was there.”These days, Bell is putting together the best season of his young career. An All-Star for the first time, Bell went into the break with 27 home runs and the most RBIs in baseball. He has a .992 OPS and if he somehow doesn’t hit another home run all season, he’ll still have more than his previous career-high of the 26 that he hit in 2017, his first full year in the majors.Bell attributes the growth he’s shown has a hitter this year mostly to better timing at the plate. “I just feel like I’m in a better place to hit,” Bell said. “More on time to hit fastballs and to react to balls out of the zone for the most part. Just a lot of hard work.”Bell said he feels like he’s in his “A swing” more often this year — what he described as essentially his default, natural swing — and as a result, he’s hitting better on the whole and going deep more often.“The less redirection in my swing, the farther the ball goes. So if I square the ball up and I’m not changing anything at all in my body, if it’s in my A swing path, that’s when the ball travels the farthest,” Bell said. He’s had more than a few titanic shots this year. Five of them have traveled more than 450 feet, two of those more than 470. And Bell isn’t just about displays of power. He’s been a better overall player in 2019. He’s hitting for the highest average of his career, his wRC+ of 150 is almost 40 points higher than he’s ever posted and he’s improved by eight defensive runs saved in the field from 2018.  There’s usually that one home run. The one in Little League when the coach or the parents realize a kid’s got something extra. Or the one in high school that gets the first scout to write down his name. Or the one that locals talk about for years afterward.But for Josh Bell, there isn’t one.last_img read more