Consultants unravel coronavirus implications for Dutch schemes

first_imgIt said the return on emerging market equities was -3.4% in January, to which the firm alsp blames the virus for.As interest rates dropped considerably, the 30-year swap rate – Dutch schemes’ main standard for discounting liabilities – fell by 29bps to 0.34%, both firms said.As a consequence, pension funds’ liabilities rose by approximately 5% under the official discount rate, which is boosted by the application of an ultimate forward rate (UFR), according to Mercer.Were the pure market rate to be used, liabilities had risen even higher, by 6%, it added.Aon warned that Dutch pension funds remain vulnerable because of the sector’s widely shared expectation of lower returns in the coming years.It said that investment results ranging from 3-4%, including volatility, threatens to limit pension funds’ recovery potential.Although social affairs’ minister Wouter Koolmees has granted a temporary reprieve last November from the minimum funding requirements, the minimum required coverage ratio will be back from 90% to the official level of 104.3% at year-end.‘Stay calm’Aaron Costello, regional head for Asia, at Cambridge Associates, said: “Investors should stay calm.” While the Wuhan coronavirus is still spreading, the virus remains less deadly and more contained than the SARS outbreak of 2002–03.“Looking at other epidemics, history suggests that after an initial sharp hit, economies and markets typically recover quickly,” he added.He said the economic and human impact of the Wuhan coronavirus outbreak is still increasing, and markets may decline further in the coming weeks.However, investors should not overreact. “Indeed, further downside in Asian and Chinese equities may provide a compelling buying opportunity once the fear subsides,” he said.StyleAnalytics, a factor analysis expert company, said the biggest economic risk at this point is fear of a Chinese market collapse and a drop in Chinese productivity/supply chain to the rest of the world.It agrees that investors “shouldn’t worry much about factor tilts if the virus remains contained to China”.But it suggests that if the contagion results in a fear-scenario, investors might want to tilt towards low-volatility and away from small-cap equity.It said: ”Since the biggest impact of this virus will almost certainly be to the Chinese economy, the protection that low-vol and yield provided during the last [2015] Chinese equity crisis suggests a defensive strategy for factor investors as the world watches this latest crises unfold.” The negative economic impact of the coronavirus outbreak in China last month has slightly affected the funding positions of Dutch pension funds, undoing the improvement achieved in December, Aon said.Aon, as well as Mercer, said Dutch schemes’ coverage ratio dropped to 101% on average in January. This is a decrease of two percentage points according to Aon, and three percentage points according to Mercer. Both consultants use slightly different calculation methods.Aon said the coverage ratio had increased in December to 103%. According to both firms, the average policy funding ratio at the end of January for Dutch pension funds was 102%.Due to global fears of the coronavirus, equity returns declined and there was a flight to safe investments, which lowered interest rates, Aon explained.last_img read more

Uzoho: Messi Made My Best Day In Football

first_img Uzoho’s inclusion in Nigeria’s squad to the football fiesta was a massive surprise to many. The young shot-stopper was part of the victorious Nigeria squad at the 2013 FIFA Under-17 World Cup in the United Arab Emirates, albeit without playing a single minute at the tournament. But Uzoho moved to Deportivo La Coruna from Qatar’s Aspire Academy in January 2017 and, later that year, became the youngest foreign goalkeeper to ever play in La Liga, marking his memorable Deportivo debut with a clean sheet. His form in Spain caught the attention of Gernot Rohr, who had been looking for solutions to the Super Eagles’ goalkeeping problems caused by the premature retirement of Carl Ikeme. Then only 19, Uzoho made his Super Eagles debut against Argentina in a November 2017 friendly, a game Messi missed, and Nigerian won by a 4-2 scoreline. Despite his relative inexperience, Uzoho was elevated as the first-choice keeper ahead of the experienced duo of Daniel Akpeyi and Ikechukwu Ezenwa, heading to the World Cup.Advertisement Loading… He was in goal when Rohr’s men lost to Croatia, defeated Iceland, and succumbed to a late 2-1 loss to Argentina, with Messi netting a fine opener. Despite the Super Eagles losing that encounter, Uzoho feels privileged sharing the same pitch with the six-time Ballon d’Or winner. “Playing at the World Cup for the first time as a first choice goalkeeper came as a grace to me,” the Omonia Nicosia keeper said, as quoted by the media. read also:Uzoho: Why I married at 20 “In fact, the day Nigeria played against Argentina was my best day in the game because I stood on the same field with Messi and Higuain, players I respect a lot. “I had to control my excitement as a professional keeper to give my best in the game.” FacebookTwitterWhatsAppEmail分享 Francis Uzoho has picked the Super Eagles last group match against Messi’s Argentina at the 2018 FIFA World Cup in Russia as the best day of his football career. Promoted ContentA Hurricane Can Be As Powerful As 10 Atomic Bombs7 Theories About The Death Of Our UniverseThe Best Cars Of All TimeBest Car Manufacturers In The WorldTop Tastiest Foods From All Over The WorldThe Most Beautiful Middle Eastern Actresses9 Facts You Should Know Before Getting A TattooHow Good The CGI Effects In Those Movies Were!This Guy Photoshopped Himself Into Celeb Pics And It’s Hysterical6 Incredibly Strange Facts About HurricanesYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime6 Ridiculous Health Myths That Are Actually Truelast_img read more

Vucevic declares for draft

first_imgFreshman Curtis Washington sat patiently at Friday’s press conference in the Galen Center, waiting for junior forward Nikola Vucevic to announce if he would return for his senior season.“We would ask [Vucevic] and he would never tell us,” Washington said.Big shoes to fill · With Vucevic declaring for the NBA draft, USC will need to replace its leading scorer and rebounder from this season. – Tim Tran | Daily Trojan Vucevic’s announcement that he will declare for the NBA draft and sign with an agent, forfeiting his final season of collegiate eligibility, means Washington’s minutes for next season will significantly increase.“Of course I always want to work hard, but it makes me work that much harder knowing that I will have a larger role,” Washington said. “It is going to be difficult to fill Nikola’s role, so we are going to have to work hard.”With Vucevic (34.9 minutes per game) and senior forward Alex Stepheson (32.9 minutes per game) departing, USC will rely heavily on an inexperienced frontcourt next season. The Trojans’ post rotation will include transfers James Blasczyk, DeWayne Dedmon and Aaron Fuller, in addition to Washington, who did not score last season.“Curtis is a lot like me when I was a freshman,” Vucevic said. “He is a young guy who works really hard every day. He is one of the guys who works the hardest on the team.”USC coach Kevin O’Neill said he plans to recruit one or possibly two new players.“We are not going to take anybody that cannot come and help immediately, because that is just wasting a scholarship,” O’Neill said. “If we can find another big, we would be interested, and if we found the right wing player, we might be interested in both, but we are not going to rush into taking somebody for the sake of it.”Only two of USC’s top seven scorers from last season, guards Jio Fontan and Maurice Jones, are expected to return next season.“When you lose a guy like [Vucevic], obviously it is going to be a blow to you,” O’Neill said. “It is our job with the guys coming in, and whoever else we end up signing in the late period, to make sure that we have a team that can be competitive in the Pac-10 and get into the postseason.”After deciding to declare for the NBA draft, Vucevic signed with agent Rade Filipovich of BDA Sports Management.“It was a tough decision,” Vucevic said. “I thought that if I came back we could have done a lot of good stuff, but at the same time, I wanted to take the next step in my life.”Had Vucevic not signed with an agent, he would have had until May 8 to withdraw his name and return to college for his senior season.“I feel like if you do something, you have to go into it 100 percent,” Vucevic said. “It is a lot easier when you have somebody who can take care of the scheduling part.”Vucevic said he plans to continue taking classes this semester while preparing for the NBA draft, and to take summer school so that he can eventually graduate.This past season, the 6-foot-10 Vucevic averaged 17.1 points and 10.3 rebounds per game, and was named to the All-Pac-10 First Team. He had a double-double in his final eight regular season Pac-10 games.Vucevic was the leading scorer and rebounder for the Trojans, who lost to VCU in the first round of the NCAA tournament.“Nikola’s great advantage is that he is going to be able to guard [NBA power forwards and centers], which very few people can do,” O’Neill said.last_img read more

Animal neglect charges filed against owner of alleged Worth County puppy mill

first_imgMANLY — A woman from rural Manly has been charged with 17 counts of animal neglect after over 150 animals were seized from an alleged puppy mill back in November.The charges were filed on Friday in Worth County District Court against 66-year-old Barbara Kavars. Officials seized 154 dogs and four cats from the property. In several visits to the property, a Worth County sheriff’s deputy says he saw kennels covered with feces and mud and visibly skinny dogs with no water and little food.Court records describe overcrowded and filthy conditions at the rural Manly property. The American Society for the Prevention of Cruelty to Animals cared for the animals and called the operation a “puppy mill.”Kavars in January wanted nine dogs and four cats to be returned to her, but Worth County Magistrate Douglas Krull ruled against Kavars, saying the dogs and cats were among those neglected and that they qualified as threatened animals.Animal neglect is a simple misdemeanor, with each charge punishable by up to 30 days in jail and up to a $625 fine.last_img read more