Japanese equities return 50% at scheme for Dutch medical consultants

first_imgHowever, rising interest rates led to a 5.4% loss on its 44% fixed income allocation.This loss was the main reason behind the scheme’s overall return of 1.8% for the period, SPMS said.Steenvoorden attributed SPMS’s 5% loss on emerging market equities to slowing economies and rising interest rates, triggered by the US central bank’s tightening of its monetary policy.“Falling local currencies contributed to the investment loss,” he added.However, the director stressed that SPMS would not alter its investments in emerging markets.“We consider the disappointing performance as a temporary phenomenon and are positive about the long-term prospects,” he said.Hedge funds returned 8.5%, according to the pension fund, which noted marked performance gaps between various strategies.Steenvoorden declined to provide details on the strategies, but confirmed that returns ranged between 1% and 14%.The pension fund’s 10% property portfolio delivered an overall return of 0.2%, with European listed real estate returning 11%.By contrast, non-listed property and US listed real estate produced 1% and 2% losses last year.SPMS said that, on balance, rising interest rates had had a positive effect its financial position, as decreasing liabilities lead to a funding increase of 5 percentage points to 117% at year-end. The pension fund has granted all of its participants a 3% indexation. The €7bn pension fund for medical consultants (SPMS) in the Netherlands has reported a 50% return on its Japanese equity investments in 2013.Jeroen Steenvoorden, the scheme’s director, said: “Because we fully hedged the currency risk on the yen, we could fully benefit from the equity yield.” He added that, without currency cover, the net return in euros would have dropped to 22%.Meanwhile, SPMS’s 34% equity allocation generated a 17% return, with US and European equities returning 28.5% and 27.2% respectively. last_img read more


ANOC confirms Oct 2021 for General Assembly in Seoul

first_imgAssociation of National Olympic Committees (ANOC) has confirmed that Seoul will host its General Assembly on October 26 and 27 next year after this year’s edition was cancelled. Last month, it was also announced that the second edition of the ANOC World Beach Games next year has been postponed until 2023 because of coronavirus. “It is a great pleasure to host the ANOC General Assembly in 2021,” said KSOC President Lee Kee-heung. read also:ANOC General Assembly in Seoul moved to 2021 “Although COVID-19 has greatly impacted the international sports community, KSOC and ANOC will make every effort to ensure a safe and successful General Assembly. “We are looking forward to welcoming the NOCs from around the world to Korea.” Delegates in Seoul will stay at the COEX Intercontinental Hotel and Grand Intercontinental Hotel, which are both close to the General Assembly venue. Restrictions on international travel was cited as one of the main reasons for this year’s General Assembly being cancelled. Alternative ways for NOCs to express ideas and opinions are being assessed, ANOC said last month, while reports and updates that would have been heard this year will be provided. As normal, ANOC will host meetings of its Executive Council and Commissions in the days leading up to the 2021 General Assembly in Seoul. Earlier this month, the umbrella body confirmed funding of $11.65 million (£9.1 million/€10.3 million) to assist NOCs battling the COVID-19 crisis. The funding will be distributed by the five Continental Associations and all 206 NOCs are in line to benefit. It was also confirmed that money which had been allocated to the General Assembly in Seoul this year would be put towards the NOC fund. The budget for the 2020 ANOC General Assembly was confirmed to be $5.2 million (£4.2 million/€4.7 million) at last year’s event in Qatar. FacebookTwitterWhatsAppEmail分享 It was announced last month that the key meeting, which gathers all of the world’s National Olympic Committees (NOCs), could not take place in 2020 because of the coronavirus pandemic. Originally planned for November 25 and 26 in the South Korean capital, the General Assembly is now scheduled for 11 months later. It is due to be hosted at the COEX Convention Centre with the ANOC Awards, the traditional accompaniment of the Assembly, penciled in for October 26. The visiting NOCs will be hosted by the Korean Sport and Olympic Committee (KSOC) in the 1988 Summer Games city. “We are very grateful to the KSOC for their hard work and the speed with which they have been able to find new dates for next year’s ANOC General Assembly,” said ANOC secretary general Gunilla Lindberg. “We wanted to make sure we found dates that were as convenient as possible for the NOCs and that did not clash with other major sports events. “With no ANOC General Assembly this year, next year’s meeting will be extra special as it will allow the world’s NOCs to reunite once again and promote and celebrate the Olympic Movement.” The General Assembly is now scheduled for after the re-arranged Tokyo 2020 Olympic Games, which were pushed back to July and August of 2021 as a result of the global health crisis. Key figures such as International Olympic Committee President Thomas Bach will be expected to address the Assembly, while the organisers of future Games will be given the chance to update on their progress. This will include officials from the Beijing 2022 Winter Olympics, which are due to begin on February 4 of that year so will be a little more than three months away. At last year’s ANOC General Assembly in Doha, it was confirmed that Fiji’s Robin Mitchell will remain as Acting President until a Swiss court case against Sheikh Ahmad Al-Fahad Al-Sabah is resolved.center_img Loading…last_img read more