Swiss social security buffer fund Compenswiss has halted its asset sale programme and reviewed its investment strategy after Swiss voters last year gave the green light for an additional annual CHF2bn (€1.88bn) in financing for the state pension system.Announcing its investment results for 2019, the fund said the extra money, which is dispensed from this year, will plug the gap between benefit payments and income for around four years.As a result, it has been able to put a halt to its divestment programme, which had been running for about two years, initially at a monthly rate of CHF100m and then CHF125m.It also reviewed its investment strategy in light of the financing reprieve. A spokesperson for Compenswiss told IPE it had only adopted limited shifts for 2020, “reflecting a cautious approach in our overall risk assessment”, although the strategy asset allocation could still be amended in the future given the longer time horizon.For 2020 the fund had decided to switch 1% of its foreign fixed income allocation to real estate, “a market traditionally associated with higher returns but lesser liquidity than fixed income,” the spokesperson said.The allocation to real estate has risen to 10% as a result of the shift.Demographics are weighing on the Swiss state pension system. According to a study carried out in 2019 by UBS in conjunction with researchers at the University of Freiburg in Breisgau, pension promises from the state pension – AHV in short in German – exceed the system’s future income by about 170% of GDP (base year of 2016).The extra yearly cash injection of CHF2bn stems from a tax and AHV financing reform that was approved in a referendum in May last year, and according to the study it cuts the pension funding shortfall by about 20%.Solutions aimed at the long-term funding equilibrium are being discussed in parliament. The government’s reform proposal, known as AHV21/AVS21, aims to secure the financing of the state pension until 2030, which it has calculated as requiring an additional CHF26bn.10.22% gainCompenswiss’s investments gained a net 10.22% in 2019, with total assets going from CHF34.2bn to CHF36.4bn as at the end of the year. The return is the second highest since the first pillar pension system and the buffer fund were established in 1948.Operating and asset management costs amounted to 0.19% of total assets, in line with the previous year.
Dalglish has gone into self-isolation at home and urged the public to do everything possible to slow the spread of the virus.___Real Sociedad plans to have its players resume training individually this week. It would make it the first Spanish club to resume activities during the coronavirus pandemic.The club says players will have the option to start practicing at the team’s training center after the Spanish government decided to ease some of its lockdown measures.Non-essential workers will be allowed to return to their positions this week while observing social-distancing guidelines and other restrictions. Group activities will remain prohibited as Spain enters its fifth week of confinement because of the pandemic. Former Argentina and Bristol captain Agustin Pichot tweeted he was running against Beaumont for the role at rugby union’s governing body.The 45-year-old Pichot said the crisis caused by the coronavirus outbreak was an opportunity for “global realignment” of rugby.Former England captain Beaumont announced he was standing for a second four-year term in January with French Rugby Federation president Bernard Laporte as his proposed vice chairman.Pichot, who also had a spell with Richmond in the late 1990s, wrote: “It is a critical time and a critical election. The current crisis is an opportunity for the global realignment of our game. We cannot miss it.”The election is due to be held in May. Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Bill Beaumont is facing a late challenge to his bid for re-election as World Rugby chairman from his current vice chairman. ___Liverpool great Kenny Dalglish has expressed “immense gratitude” to National Health Service staff after returning home from the hospital following his coronavirus diagnosis.The 69-year-old former Celtic, Scotland and Liverpool forward was hospitalized on Wednesday for treatment on gallstones and subsequently tested positive for COVID-19 despite not showing symptoms.Dalglish won eight league championships and three European Cups across spells as player and manager for Liverpool, while also guiding Blackburn to the Premier League title in 1994-95.In a statement on Liverpool’s official website, Dalglish said: “Thank you for all of your well wishes over the last few days. I’m delighted to be back home with the family after receiving brilliant care from the NHS, which we appreciate now more than ever.” April 12, 2020 The Latest: Challenger Pichot wants rugby ‘realignment’ It was not yet clear whether the government will allow Real Sociedad to open its training center, though, as most sports facilities are still supposed to remain closed.Real Sociedad says players have been training at home for the last month. The club prepared individual training routines for players and sent them stationary bicycles and treadmills. Spain has reported its lowest daily growth in confirmed coronavirus infections in three weeks, with the total at about 166,000.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6
Published on January 29, 2013 at 1:05 am Contact Bryan: [email protected] Only six runners competed in the 1000-meter race at the Penn State National Open last weekend – three from Syracuse and three from Georgetown.The race at the Horace Ashenfelter III Indoor Track facility was originally supposed to host eight competitors before West Virginia and Johns Hopkins runners backed out. The smaller field made it just the kind of event Syracuse junior Molly Malone needed in her first 1000-meter race of the season.“It was kind of low-key compared to other races,” Malone said. “I think we did pretty well. It was the first 1000 I’ve done this season and I think it went well.”Malone’s third-place finish was a good starting point for her season in the 1000-meter race. She’s used to competing in the high-profile races – last season she took eighth in the 800-meter at the Big East championship and reached the national quarterfinal in the same race at the NCAA East Preliminary Round.AdvertisementThis is placeholder textBut now she’s injury-prone, battling tendinitis in her foot.Syracuse track and field coach Chris Fox has become accustomed to dealing with Malone’s injuries. He recognizes her potential – she holds the school record in the indoor 800-meter run (2:07.81) – but he also knows the importance of easing up her training.“With Molly, our first goal is keeping her healthy,” Fox said. “We are never really training (her) at the level we should, but she’s super talented and if you keep her healthy for four to five straight weeks, she’s really good.”In high school, she broke her sesamoid bone, a bone that holds the tendons and ligaments in the big toe together. She has been able to successfully run despite the injury, but this season it has flared up again.Every day before practice, Malone receives treatment in the training rooms in either Manley Field House or the Carmelo K. Anthony Basketball Center. The treatment allows her to train and practice at a level that keeps her in racing shape.“I don’t really feel it in the races because I’m in the racing zone,” Malone said. “But when you think in terms of training, it does affect me because I can’t get as good training under me.”Malone competes in both the 800-meter and 1000-meter, yet excels in the shorter race because of her strength and speed.“Her speed really makes her one of the best 800 runners on the team,” distance runner Lauren Penney said. “At the start she really goes for it and puts herself in the race, something really important in a race as short as the 800.”The 800-meter run is also easier for Malone to wrap her head around than the 1000-meter. The race is shorter and she doesn’t have to worry as much about her toe flaring up.While she is pleased to be in the Syracuse record books, Malone hopes to primarily stay healthy this season and ultimately break her own record.And after her third-place finish at Penn State, Malone is quietly getting back on track.“The record is nice to have, but I think I can do better,” Malone said. “Hopefully by tending to this injury now I can get there by outdoor season. It’s definitely a reachable goal.” Comments Facebook Twitter Google+