Five largest Dutch schemes report stable funding in Q1

first_imgThe scheme’s stakes in property, private equity and commodities produced 4.3%, 2.9% and 1.2% respectively. Infrastructure and hedge funds delivered 3% and 1.4%, according to ABP, with its loss in emerging market equities (-0.7%) the only negative.The civil service scheme saw its funding improve by 0.2% to 106.1%, which included the effect of reversing an earlier rights cut of 0.5%.PFZW made a quarterly return of 3.3%, including 1.6 percentage points from interest and currency hedging. The scheme said its funding remained stable at 109%.The healthcare scheme reported yields of 0.5%, 2.3% and 1.1% across its equity, private equity and property holdings.With a result of 4.5%, government bonds were its best performing asset class.PFZW said its index-linked bonds and credit portfolios generated 1.9% and 2.5% respectively, adding that a 1.1% yield on commodities was largely due to a price rise in the crude oil benchmark.The €50bn metal scheme PMT returned 3.6% over the three months, chiefly thanks to a 5.7% result on its 59% fixed income portfolio, following the decrease of interest rates.Its holdings of equity, property and alternatives produced profits of 0.4%, 1.4% and 0.3%, it said.PMT saw its coverage ratio rise by 0.5 percentage point to 104.9%. However, as it had a funding shortfall of 0.4 percentage point at year-end, it must apply an equal rights cut on 1 May.The metal fund further announced that its 2013 return only stood at 1%, attributing the result mainly to the effect of the increase of interest rates on its large fixed income portfolio.During last quarter, the funding of PME, another metal scheme, rose by 0.7 percentage point to 105%, following a 3.1% result, including 1.1 percentage points due to its interest cover.PME’s assets increased by €2.1bn to €34.4bn, including €1.2bn of assets from the pension fund of copier manufacturer Océ, which merged with PME recently.The metal fund made clear that it profited from the value increase of long-term government bonds, and added that credit and emerging markets bonds also returned more than 2%.PME’s holdings of equity and property generated 0.6%, 0.5%, whereas its alternative investments delivered a 2.5% loss.BpfBOUW, the €40bn pension fund for the building sector, did not reveal its quarterly returns. It said that its coverage rose by 2.8 percentage points to 114.2%. The coverage ratio of the five largest pension funds in the Netherlands – with combined assets of €577bn – has remained stable during the first quarter, as a drop in the discount rate for liabilities largely nullified positive returns on investments.The €309bn civil service scheme ABP and the €143bn healthcare fund PFZW reported results of 3.1% and 3.3% respectively, however, this included positive results on their hedge of interest and currency risks.Investment results were positive for almost all asset classes across the funds.ABP’s holdings in government bonds, credit and emerging markets bonds generated returns of 4%, 2.5% and 1.9% respectively, with equity and inflation-linked bonds both yielding 1.5%.last_img read more

Boeheim, Pitino reflect on Smith’s legacy at North Carolina

first_img Facebook Twitter Google+ Published on February 9, 2015 at 2:35 pm Contact Jacob: [email protected] | @Jacob_Klinger_ After longtime North Carolina head coach Dean Smith died at 83 on Sunday, fellow Hall of Famers Jim Boeheim and his former assistant Rick Pitino joined in paying tribute to Smith.Both reflected on his innovation and Boeheim, when prompted, looked back on his first and only win against Smith. Pitino, who was Boeheim’s assistant at Syracuse from 1976-78, credited Smith for the advent of the “four corners” offense as well as his humility.“He was the best in our game, but you would never have known it in the way he carried himself,” Pitino said on Monday’s Atlantic Coast Conference coaches’ teleconference. “What always impressed me about him was the way he carried himself.“There was no internet, there was no Twitter, there was none of that — not that Coach Smith would ever have been tweeting. That’d be the last thing in the world he would ever do. But he just stuck out.”Boeheim, who went 1-3 in his career against Smith, got his first Final Four berth in his first win against the UNC great. In the 1987 Eastern Regional final, his second-seeded Orangemen beat Smith’s top-seeded Tar Heels, 79-75.AdvertisementThis is placeholder text“They were a great team and we played a great game,” Boeheim said later on the teleconference. “We played one of the best games that we have ever played, really, in the final of the Eastern Regional.”Boeheim passed Smith as the winningest coach at a single school with his 880th win when the then-No. 2 Orange beat then-No. 12 Georgetown in overtime on Feb. 8, 2012.At the time, Boeheim said he was upset about the game – SU was outrebounded by 18 – and not concerned with the milestone. On Monday, though, he reflected on Smith’s legacy.“I think he’s one of the great, great coaches of all time, and he really established one of the best college basketball programs in the country,” Boeheim said. “Very innovative coach and way ahead of everybody else really in terms of his approach to basketball and the game, really. A giant in the game of college basketball.” Commentslast_img read more

Under the Radar at UFC 239: Ismail Naurdiev

first_imgPrior to every event, Under the Radar will cast the spotlight on an up-and-coming talent who shows the potential for growth in their division and isn’t getting enough attention as they head into battle. At International Fight Week, that fighter is “The Austrian Wonderboy,” Ismail Naurdiev.Name: Ismail NaurdievRecord: 18-2 overall; 1-0 UFCDivision: WelterweightTeam: Hard Knocks 365 Combined with his impressive first showing, it’s easy to recognize the positives and be excited about what Naurdiev brings to the table.One appearance isn’t enough of a sample size to accurately forecast how high the 22-year-old Salzburg-based Naurdiev can go, especially in the deep and talented welterweight ranks, however he made a tremendous impression in his debut and if he can follow it up with another strong showing here, there will be more people claiming their seats on the Ismail Naurdiev bandwagon.And they should — it’s quite lovely and the seats are comfortable. With the crush of events that take place over the course of the year, we have a tendency to forget some of the great stuff that occurs in January and February. It’s not malicious, it’s just a function of there being 30-odd events every 12 months and a ton of cool things that happen after winter gives way to spring.Case and point: Ismail Naurdiev’s promotional debut.Join DAZN and watch more than 100 fight nights a yearTabbed to replace Ramazan Emeev on the preliminary portion of the UFC’s debut fight card in Prague, Czech Republic in February, the 22-year-old welterweight strolled into the Octagon on two week’s notice — and three weeks after scoring a 36-second knockout win — and beat Michel Prazeres, ending the Brazilian’s eight-fight winning streak.This wasn’t a grind’em out, squeak by on the scorecards, split decision type of effort either — Naurdiev was in complete control from start to finish, outworking Prazeres all the way through to secure the first victory over his UFC career. Because Prazeres isn’t a major name and didn’t beat a bunch of elite talents during the course of his extended run of success, folks are likely to undervalue what Naurdiev accomplished in his maiden voyage into the UFC cage, but that would be a serious mistake.Prazeres entered with a 10-2 record in the UFC and having won 10 of 11 after dropping his debut. The only guy to beat him during that span was former interim title challenger Kevin Lee and “Trator” collected wins over guys like Mairbek Taisumov, Gilbert Burns, Josh Burkman and Zak Cummings during that run.Even if you’re not blown away by the names on that list, look up how many fighters have ever won eight straight fights or more in the UFC and maybe then you’ll understand that no matter the opponents, building a winning streak like that is an impressive accomplishment and ending it in your promotional debut, on short notice, three weeks after your last fight, as a 22-year-old is an outstanding achievement.For the record: 20 fighters have won eight or more in the UFC; Prazeres is the only one to have never fought for championship gold, so yeah, he is in elite company.With all of that said, clearly it’s safe to say I’m pretty excited about seeing Naurdiev return to action this week.Following his win over Prazeres, Naurdiev had two requests: to fight in Las Vegas and to face a Top 15 opponent.The first request was granted as he’ll take part in International Fight Week and compete at T-Mobile Arena on Saturday, but rather than facing a ranked opponent, he’s squaring off with Chance Rencountre, a 32-year-old Alliance MMA representative who dropped his short own notice debut (to Belal Muhammad) before rebounding with a quick submission win last time out.History has taught us all that MMA Math doesn’t work, so it would be a mistake to simply suggest that Naurdiev’s win over Prazeres and Rencountre being a relative newcomer to the promotion means “The Austrian Wonderboy” is going to roll into the cage and collect an easy victory because there are no easy wins in the UFC and the Oklahoma native is a solid grappler with a big size advantage heading into this one.But Naurdiev has already proven that he’s capable of out-working an established, powerful grappler and carries the kind of conditioning necessary to push hard for 15 minutes at a torrid pace. Before arriving in the UFC, he showed some pop in his hands and a diverse striking arsenal as well, so while he’ll be giving up size, he has a more diverse skill set and more paths to victory in this one.In addition to his impressive debut, another piece that makes Naurdiev such a compelling newcomer to track is that he’s shifted his training to Fort Lauderdale, FL., where he’s working with Henri Hooft and the crew at Hard Knocks 365. While he’s enjoyed success training at home, there is always something to be said for seeking out a place with better coaches, better training partners and a generally more experienced group. Naurdiev was so pleased with how his camp went this time around (and the weather) that he’s strongly considering making a permanent move to Florida, which speaks volumes about the team that he worked with and the benefits he felt preparing for Rencountre.last_img read more

Clear Lake man given suspended sentence for burglary charge

first_imgCLEAR LAKE — A Clear Lake man who entered an Alford plea to a burglary charge has been given a suspended prison sentence and probation. 27-year-old Aaron Pankratz was charged with second-degree burglary after being accused of forcing his way into a home in the 600 block of South 8th Street in Clear Lake on May 4th, where he allegedly assaulted two of the residents as they came out of a second-floor bedroom. Pankratz originally pleaded not guilty to the charge, but during a plea change hearing held in July entered an Alford plea to one count of third-degree burglary. With an Alford plea, a person does not admit guilt but acknowledges there is enough evidence for a likely conviction. District Judge DeDra Schroeder this week sentenced Pankratz to a suspended five year prison sentence and placed him on five years probation. Pankratz was also fined $750, which was suspended.last_img read more