Pension fund for Dutch medical consultants returns 10% over H1

first_imgSPMS, the €10bn occupational pension fund for medical consultants in the Netherlands, returned more than 10% on investments over the first six months of the year.It attributed its performance largely to the effect of falling long-term interest rates on its 55% fixed income portfolio.The return, however, was relative, as liabilities increased by even more.The scheme’s funding fell by 2 percentage points to 117%, as of the end of June. According to its 2015 annual report, SPMS decided to introduce infrastructure debt as a new asset class with a target portfolio of 5%, in a bid to diversify its portfolio.The new investment category is to come at the expense of the full allocation to inflation-linked bonds, as well as 2 percentage points of the scheme’s stake in hedge funds, which is to be reduced to 7%.Jeroen Steenvoorden, director at SPMS, pointed out that the risk profile of infrastructure debt was lower than that of direct infrastructure investments.The expected return, however, is also lower, according to Steenvoorden, who estimated that performance would range between 2.5% and 3%.He said the board still needed to decide whether the investment was to come as a mandate or through a fund, adding that the managers’ selection had not yet been completed.SPMS reported a net annual return of 0.9%, chiefly due to considerable losses on its full hedge of the currency risk on the US dollar, Japanese yen and British pound, which all appreciated relative to the euro.The pension fund for medical consultants also made a 0.7% loss on its interest hedge as a consequence of the 0.2% interest rate rise last year.It said property delivered 11.7%, in particular thanks to listed real estate in Europe and the US, which returned 19.4% and 19.9%, respectively.Equity returned 8.4%.The scheme attributed the 4.4% return on fixed income largely to US credit (11.2%), emerging market debt (4.7%) and inflation-linked bonds (6.8%)Government bonds produced 0.3%, while the pension fund lost 1.5% on European credit.Last year, SPMS lowered its risk profile by replacing 8% of its equity portfolio with an equal percentage of government bonds, while raising its interest hedge from 70% to 78% of liabilities.In its opinion, the adjustment of the interest hedge offsets a slower improvement of its financial position once interest rates rise again.SPMS posted costs for asset management and transactions of 0.61% and 0.18%, respectively, and said it had spent €544 per participant for pensions administration.The scheme carries out an occupational pension plan for 7,500 self-employed medical consultants and has 6,700 pensioners.last_img read more

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Congratulations – it’s a Ford Foetus

first_imgStuff co.nz 14 June 2016Family First Comment: Nope – it’s a Holden Human, or a Lamborghini Life, or a Baby Benz It was just a normal checkup on his pregnant wife.But Reddit user Brewhaus3223 spotted something unusual with the ultrasound image, and it wasn’t until he zoom-zoomed into the picture that he noticed a familiar shape – his wife was giving birth to a sports car.Naturally he posted the picture online and users raced to come up with the best pun.“The Fast and the Fetus,” “The All-New Ford Fetus!” or “Is it a Boygatti or a Girlarri?”He told the website Someecards that this is the couple’s second child. Their first was through IVF and they did not expect to conceive naturally.“A miracle happened and my wife became pregnant naturally, well as naturally as you can when you’re carrying a car.”For the record, it’s a Boygatti.http://www.stuff.co.nz/life-style/parenting/pregnancy/81069173/Congratulations-its-a-Ford-Foetus?cid=app-iPhonelast_img read more

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Second edition of Social Media Games slated for August 27

first_imgThe second edition of the annual Social Media Games dubbed “The Hood Edition” is set to come off on Saturday August, 27 at the Wembley Sports Complex, Kotobabi.The event which is one of the most sought-after events on the calendar of the youth especially social media users.  The game aims at fostering peace and togetherness amongst the youth from various communities ahead of this year’s election.It will also be used to create an avenue for socialization, meet-up, establish business contacts and a reunion for long lost friends.Organised by Hypenationgh, the event will see individuals from different communities who are hooked onto social media sites such as Facebook, Instagram, Twitter, WhatsApp, YouTube, Google Hangout among others coming together to form teams to compete with each other for honours.Games to be competed for includes an 8-aside football challenge, an 8-aside finals for ladies, ampe, snooker, lime & spoon, volleyball, table tennis, tug of peace as well as a rap battle, photoshoot and open jam section after the games. According to the coordinator for the games, Francis Aryee, the first edition held at the Ajax Park, University Of Ghana last year left many asking for more and they are looking forward to this year’s edition.“We want to use this year’s edition event to preach the message of peaceful election to the youth as the election 2016 approaches,” he said.“The youth makes up the larger chunk of voters and they are very vulnerable when it comes to elections as some politicians target and use them to cause chaos during the period. We want to use this games to preach to them that there are a better thing to life than being used as a tool for violence,” he added.He noted that there would be peace messages from prominent personalities, politicians, leaders of the youth groups in the various communities as well as some presidential hopefuls to further drum home the need for absolute peace during the December polls.He further revealed that in all, at least 20 teams will be involved in the one-day sports extravaganza and will see teams being formed online by individual leaders from the various communities (Hood). Trophies and products from sponsors would be awarded from 1st to 3rd positions respectively with the other participating teams receiving souvenirs from sponsors as well.There would be an hour of pure aerobics for all to kick start the games.last_img read more

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