Pension fund for Dutch hairdressers loses 0.7% due to rising rates

first_imgThe pension fund’s 62% return portfolio produced an overall result of 7.8%, with its equity holdings (32.4%) generating a 14.8% return.US and European equities returned 26% and 20%, respectively.In contrast, the scheme lost 9% on its emerging market holdings, having recently increased the allocation at the expense of investments in Japan and Asia.Kappers’ 9.5% property portfolio returned 0.34%, while its 20.6% credit allocation delivered 2.3%.The industry-wide pension fund for hairdressers and barbers reduced its contribution from 8.6% in 2013 to 7.5% in 2014, while lowering its annual pensions accrual from 0.85% of salary to 0.81%.To raise its coverage ratio to the minimum required level of 105.3%, the scheme had to apply a 2.8% rights cut last April, following a 7% discount last year.At May-end, its funding stood at 109.7%.The board said it expected that any new funding shortfall would be eliminated under a new pensions contract based on the financial assessment framework (FTK).It added that it decided to pay its trustees and chairmen a fixed annual amount of €25,000 and €40,000, respectively.The pension fund reported administration costs of €122,50 per participant and asset management costs of 0.45% of its assets. At year-end, it had 20,750 active participants, 36,750 deferred members and 2,380 pensioners. Kappers, the €457m pension fund for hairdressers and barbers in the Netherlands, lost 0.7% on its investments last year due to the effect of rising interest rates on its fixed income holdings and interest derivatives.On balance, its 37% matching portfolio of government bonds, interest derivatives and mortgages lost 12.2%, according to its 2013 annual report. The largest loss – almost 17% – was produced by the scheme’s 28.6% allocation to government bonds and interest swaps, meant to hedge the interest risk on its liabilities.Mortgages investments, on the other hand, returned almost 7.4%.last_img read more

PR queen Fleur Madden puts regal Balmoral home on the market

first_imgFleur Madden with her son, Josiah, at home in Balmoral. Photo: AAP/Ric Frearson.PUBLIC relations queen Fleur Madden is selling the regal Balmoral home she shares with her husband, Jimmy Gwisai.The grand, American-style house at 58 Bilyana Street is impossible to miss given its imposing street presence This property at 58 Bilyana St, Balmoral, is for sale.Madden is the founder and former CEO of Brisbane’s award-winning Red Republic PR company, which boasts clients including Myer, Lorna Jane, Sass & Bide and Westfield.Records show the couple bought the five-bedroom, three-bathroom abode in 2015 for $635,000. The kitchen in the home at 58 Bilyana St, Balmoral.With a light blue front door, gold lighting fixtures and wraparound terraces, the house is like something out of a fairytale.Other features include French Oak floors, antique crystal lights from Italy, traditional mouldings down the hallways, plantation shutters, bespoke curtains and designer wallpapers. The home comes with an epic walk-in wardrobe.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours agoBut the piece de resistance would have to be the double walk in-robes in the master bedroom.Madden worked hand-in-hand with the architects to design the ultimate wardrobe. Think floor-to-ceiling custom shoe walls, a beauty area and ample storage. The property is being advertised for sale, asking for best offers by February 15. PR Queen Fleur Madden in her walk-in wardrobe. Picture: Jono Searle.last_img read more

ASU tops USC on last-second Hail Mary

first_imgIn a Saturday evening at the Los Angeles Memorial Coliseum marked by sloppy play and good fortune for USC, the Trojans’ luck ran out as time expired in the fourth quarter. With less than three minutes remaining in the game, Arizona State quarterback Mike Bercovici scored a quick touchdown, got the ball back with 23 seconds remaining and threw a Hail Mary pass as time expired to pull out a shocking upset of the No. 16 USC Trojans, 38-34, before a stunned crowd of more than 70,000.Jael Mary · Arizona State quarterback Mike Bercovici connected with wide receiver Jaelen Strong (21) on a 47-yard Hail Mary as time expired on Saturday night. Strong finished with 202 receiving yards and three touchdowns in ASU’s 38-34 win, its first at the Coliseum since 1999. – Tony Zhou | Daily TrojanWith the game favoring the Trojans 34-32 and seven seconds remaining in the fourth quarter, Bercovici launched the ball 46 yards into a sea of cardinal-clad USC defenders and essentially prayed that his receiver came down with the ball. His prayer was answered — ASU wide receiver Jaelen Strong caught the ball right outside the end zone and slipped past a dumbstruck group of USC defenders into the end zone.“It was an awkward Hail Mary,” said USC head coach Steve Sarkisian. “The ball floated back to the middle of the field and it was a heck of a play by [Strong] tracking the ball and making the play on it.”For Bercovici, it was a triumphant bounce-back after a rough outing against UCLA last week, where the second-string quarterback managed 488 yards through the air but fumbled the ball and threw two interceptions, one of which was returned 95 yards for a touchdown. Bercovici’s efforts come after the Sun Devils suffered a huge blow with the loss of starting quarterback Taylor Kelly to injury.After their loss to UCLA last week, the Sun Devils fell out of the national rankings and the national playoff conversation. ASU head coach Todd Graham, however, kept faith in his second-string quarterback — and credited his talented backup signal caller for staying with the program.“For all those young kids out there, everyone tells [backup quarterbacks] to transfer or quit because you’re not getting to play,” Graham said. “Look at Mike Bercovici. He didn’t quit. He chose to stay a Sun Devil. He would’ve missed out on the greatest moment of his football career if he had transferred. I’m so proud of him.”What eventually became Bercovici’s finest moment thus far as a Sun Devil actually began as the quarterback’s less-than-perfect throw.“I’ve never been able to throw a Hail Mary before,” Bercovici said. “I didn’t think I threw it well. It looked like a duck. But my God, I didn’t know what happened, to be honest.”Bercovici didn’t throw too many ducks en route to 510 yards and five touchdowns, but those numbers were also due in large part to the efforts of Strong, who hauled in 10 receptions for 202 yards and three touchdowns, including the game-winning Hail Mary.“I saw the ball in the air, and the first thing I thought was, ‘I’m going to get this,’” Strong said. “At first I thought, ‘I don’t know if I can get to it,’ but I put my head down and kept running and got it.”Strong was also complimentary of his teammates, eschewing any notion that he had won the game by himself.“If [ASU running back D.J. Foster] doesn’t make that TD, we don’t have that chance. If [ASU wide receiver Cameron Smith] doesn’t make that TD, we don’t have that chance. If [ASU wide receiver Gary Chambers] doesn’t make that big play to set us up for the Hail Mary, we don’t have that chance,” Strong said.For USC, it will be the “what ifs” that torture them after Saturday’s game. The game was characterized by missed opportunities for both teams. Bercovici overthrew two would-be touchdowns to Foster and Strong, the latter on a post route with virtually no Trojan defender ahead of him. USC’s defense looked confused on the last play of the game, and Sarkisian admitted in a post-game press conference that the Trojans were attempting to prepare for both a Hail Mary or a short completion and field goal situation, despite there being seven seconds remaining in the game and ASU having exhausted all of its time outs. The Hail Mary wasn’t USC’s only missed opportunity: Earlier in the game, redshirt junior quarterback Cody Kessler had a drive cut short and missed out on a potential touchdown both due to dropped passes from sophomore wide receiver Darreus Rogers.On the defensive side of the ball, the Trojans were effective against the run, holding Foster and the rest of the Sun Devil rushing attack to 31 total yards. USC’s game plan appeared to dare ASU’s fledgling backup quarterback to attack through the air, and Bercovici made the Trojans’ secondary pay.The Trojans were not without some lucky breaks of their own: USC’s drive in the second quarter was assisted by some curious refereeing. Redshirt junior punter Kris Albarado fell on his own after a kick on fourth down and managed to get a penalty against ASU to extend a drive that would eventually lead to a touchdown from redshirt junior tailback Javorius “Buck” Allen. That drive shifted the game’s momentum in favor of the Trojans, who would have narrowly escaped with the victory if not for ASU’s last second touchdown.Allen turned in another big performance, despite getting off to a slow start. The starting tailback had 38 yards on 14 carries for a subpar 2.7 yards per carry average at the half, but quickly turned things around to finish with 229 total yards from scrimmage (143 rushing yards and 86 yards receiving) and two rushing touchdowns.Kessler attempted 28 passes by halftime, and finished the game having completed 28 of his career-high 45 attempts for 273 yards and a season-low 62 percent completion percentage. No USC receiver broke 100 yards receiving, as ASU dropped multiple defenders into coverage schemes designed to prevent big plays. The Trojans didn’t help their own cause much, as penalties were again an issue for USC — the Trojans racked up 9 total infractions for 60 yards.The Trojans will have to regroup quickly as they head out to Tucson, Arizona on Saturday, Oct. 11 to face the Wildcats, who themselves are coming off a thrilling upset of Oregon on Thursday. The game kicks off at 7:30 p.m. and will be broadcast on ESPN2.last_img read more

Clutch Go delivers anew for Blue Eagles

first_imgCoco’s house rules on ‘Probinsyano’ set Don’t miss out on the latest news and information. OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Bloodied Nieto willing to ‘sacrifice anything’ Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Sports Related Videospowered by AdSparcRead Next It’s too early to present Duterte’s ‘legacy’ – Lacson LATEST STORIES He did it in the Final Four in Ateneo’s 88-84 win over Far Eastern University when he hit the game-tying three that sent the game into overtime and an improbable kneeling bank shot in the extra period.And Go did another of his backbreaking baskets this time in Game 1 of the UAAP Season 80 men’s basketball Finals when he punched home a bank shot with 10.4 seconds left that gave Ateneo a 75-70 lead over defending champion De La Salle.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSBack on the throneGo said it was his team’s collective trust on each other that made the shot possible for him.“First off, I have to thank God because without him none of this would be possible,” said Go Saturday after their 76-70 win at Mall of Asia Arena. “Second, I guess, it’s the trust again. Thirdy [Ravena] passed me the ball to show that we don’t care who scores the last two points or the crucial baskets.” Jo Koy: My brain always wants to think funny Jake says relationship with Shaina ‘goes beyond physical attraction’center_img Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Jake says relationship with Shaina ‘goes beyond physical attraction’ MOST READ For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. READ: Ateneo holds on, beats La Salle in Game 1 of UAAP FinalsRavena first shook off the double team of Ricci Rivero and Abu Tratter before bouncing a pass to Go, who then had to get a shot up against Kib Montalbo and Ben Mbala that earned him a trip to the foul line for the game’s final point.Go, who finished with five points, two rebounds, and two assists, was quick to defer the praise given to him saying that any Blue Eagle could’ve taken the clutch shot.“Even though I could’ve scored it, or anybody else, we would’ve looked at that rather than saying I scored or Matt scored or anybody else,” said Go. “At the end, it’s for Ateneo.”ADVERTISEMENT Kiss-and-tell matinee idol’s conquests: True stories or tall tales? Photo by Tristan Tamayo/INQUIRER.netIn just two games, Isaac Go turned from Ateneo’s jovial center to a cold-blooded, clutch-shot maker. Go’s still the same lighthearted big man for the Blue Eagles but he’s established himself as one reliable scoring option when Ateneo is in dire need of points.ADVERTISEMENT Coco’s house rules on ‘Probinsyano’ set View commentslast_img read more

Man gets 9 years in girlfriend shooting

first_imgA man who shot his girlfriend in the legs at their Ridgefield apartment was sentenced Thursday in Clark County Superior Court to nine years in prison.Vadim V. Paliy, 28, pleaded guilty in March to first-degree domestic violence assault stemming from the Jan. 7, 2017, shooting. He initially appeared on suspicion of attempted second-degree murder but was later charged with assault, court records show.As part of his plea agreement, the prosecution dismissed a firearm enhancement that would have added more time to Paliy’s sentence.The victim, Megan Johnson, suffered a shattered right femur and flesh wound to her left leg, according to court records. In a written statement Thursday, she told the court she still does not have the full use of her leg.At about 2:20 p.m., Paliy called 911 from the parking lot of the Ridgefield Police Department and said he had shot his girlfriend and wanted to turn himself in. He said Johnson was at their apartment on North Simons Street, and was still alive when he left, according to an affidavit of probable cause.Responding officers found Paliy sitting in the parking lot at the station next to a black handgun and located Johnson at the apartment with gunshot wounds to her upper legs. She was transported to a hospital, the affidavit states.last_img read more