How to… Assess the new kids on the software block

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Germany’s lifeboat scheme nearly doubles pension levy

first_imgThe PSVaG, Germany’s lifeboat scheme, has set the levy for pension funds at 24 basis points, a significant jump when compared with last year’s rate of 13bps but still below the long-term average of 30bps, calculated from the fund’s inception in 1975.Companies with non-insurance linked pension promises must pay the levy based on their liabilities, although some vehicles, such as Pensionsfonds, are given a discount.The PSVaG attributed the levy hike to an increase in pension payments due to company insolvencies.Payments will amount to nearly €800m this year compared with more than €400m in 2014. Although the overall number of insolvencies continues to fall, the PSVaG noted in a statement that “there were more above-average pensions to be paid”.In total, 94,200 companies with approximately €326bn in liabilities are paying into the PSVaG, which manages just under €5bn in assets.For this year, the PSVaG has opted against splitting the levy into four instalments, made legally possible last year; nor has it set up any advance payment for 2016.The PSVaG declined to comment on government plans to allow employees to opt out of the protection scheme and instead continue with retirement insurance arranged by their companies.Many industry experts believe this would ease the PSVaG’s burden, although the government has yet to provide details of its plans.The PSVaG could also face another challenge if the government introduces industry-wide pension plans, which would increase the volume of assets in the lifeboat scheme significantly.last_img read more

France’s FRR nets 5% gain through EM, high yield, equity

first_imgFRR’s net assets amounted to €36bn at the end of 2016, down by €341m from December 2015.This is roughly the same amount of assets that FRR held before a pensions reform in 2010 radically changed its business model by introducing a fixed nominal liability schedule and stopping all cash inflows.Since then, FRR has transferred €12.6bn in annual payments of €2.1bn to Caisse d’Amortissement de la Dette Sociale (CADES), the agency responsible for paying off France’s social security debt.This was largely offset by cumulative net gains of €11.6bn over that period, which meant that its portfolio has only shrunk by €1bn since the beginning of 2011.Its annual performance since then has been 5.4%.FRR said it had assets worth more than 160% of its liabilities, representing a surplus of €14.27bn as at 31 December 2016. This is up €1.17bn from last year.It highlighted that it made €204m of investments in French private assets in 2016, and that it will expand its investments in this area in 2017 as it implements the bulk of a new €2bn allocation.It recently awarded a €600m private debt mandate and will also be allocating €900m to private equity. France’s pension reserve fund gained 4.97% in 2016, driven by its equity, high yield, and emerging market bond investments.Fonds de Réserve pour les Retraites (FRR) splits its overall portfolio in two, a return-seeking portfolio and a hedging, or liability-matching portfolio.The return-seeking portfolio returned 8.2%. FRR said the good performance of its index-tracking investments in this portfolio was the main driver behind the fund’s overall return.The hedging portfolio returned 3.1% in 2016, which FRR attributed to interest rates falling over the course of the year and a reduction in the risk premiums on US dollar-denominated corporate bonds.last_img read more

Violet R. “Dolly” Konradi, 94

first_imgViolet Rae “Dolly” Konradi, 94, Columbus, Indiana, passed away on Saturday, July 7, 2018 at the Columbus Regional Hospital. Born September 23, 1923 in Sunman, Indiana, she was the daughter of Raymond and Edna (Hoff) Lattire.  She was married to Charles Konradi on September 16, 1944 and he preceded her in death on February 11, 2008. She is survived by one son, Jan (Joyce) Konradi, Columbus; four sisters, Laurene Howard-Britton, Aurora, Carol Eckstein, Sunman, Shirley Campbell, Sunman, Charlene (Donald) Ellinghousen, Sunman; one brother, Daren Lattire, Cincinnati; six grandchildren, Lori (Randy) England, Pennsylvania, Michael (Monica) Butz, Batesville, Casey (Kena) Butz, Plainfield, Heath Butz, Muncie, Trey Butz, Muncie, Sheana (Matt) Weiss, Greensburg; twelve great grandchildren. She was preceded in death by her parents, husband; one son, Gene Konradi; daughter, Kristina Butz; sister, Connie Darling; brothers, Dallas Lattire, Kenneth Lattire, Larry Lattire. Visitation will be held on Thursday from 11 to 1:00 at the Porter-Oliger-Pearson Funeral Home in Greensburg.  Funeral Services will be held at 1:00 p.m. on Thursday, July 12, 2018 at the funeral home with Rev. Tracey Carter officiating. Interment will be held in the St. John’s Cemetery in Penntown, Indiana. A gathering of family and friends will follow the burial at the American Legion in Sunman, Indiana. Memorials may be made to the donor’s choice. Online condolences can be made to the family at www.popfuneralhome.comlast_img read more

Negredo revels in Aguero link-up

first_imgManchester City’s Alvaro Negredo is looking forward to developing his strike partnership with Sergio Aguero. “I really enjoyed playing with him, he’s very talented,” said the 28-year-old. “The way he controls the ball, the things he can do with it… he has amazing technique. “I hope to continue to play with him in this team.” The victory over their near-neighbours and defending champions was an important boost after the goalless draw at Stoke the previous week but Negredo stressed they did not consider it a statement of intent. “I’m not sure (it sends out a message) but we don’t really worry about what other teams are thinking,” he said. “It was a very beautiful day for this club, we were very happy and it will give us a lot of confidence going forward into the next Premier League games. “We just look to play our best and hopefully we can win the Premier League.” Negredo is quite fond of his nickname of ‘The Beast’, earned for his powerful performances in La Liga, and hopes his display against United will help cement the moniker with fans at his new club. Last Sunday’s 4-1 win in the Manchester derby was the first time the Spain international, a £20million summer arrival from Sevilla, has started up front with the Argentinian. But having settled well into life in the Premier League Negredo is looking to build on his burgeoning relationship with Aguero. Press Association “It’s a nickname I like. It was given to me while I was playing in Spain so I hope they can call me that over here as well,” he added. “Hopefully the way I played against United will convince them to do it. I will be happy if they do. “I always enjoy a physical battle. (Nemanja) Vidic is a very strong player, very aggressive but I enjoyed that sort of contact with an opponent. “As long as opponents play fair it’s not a problem to me because I’m always ready for the challenge.” Negredo feels he is not the only new arrival to have settled in well. “We’re doing fine, playing well and now the goal is to continue playing in this way,” he said. “We have new players from all over Europe but I have played with (Jesus) Navas for a long time and we know each other very well, Fernandinho is a player of immense quality. “Stevan Jovetic has been affected by injuries (but) he is going to be a phenomenal player for the club. My feeling is that the quality here is very good.” last_img read more

No excuses from Naughton

first_img Press Association Spurs will attempt to overturn that deficit in Thursday night’s second leg at White Hart Lane with Naughton insisting they have the squad to cope with both competitions. “We can’t make excuses about playing in the Europa League. That’s what we are in, we should have a big enough squad to deal with that and the Premier League,” said the defender. “The stats don’t lie, it does seem that way, it’s something that is happening and we’re not sure why. “The games are running out but we have got to keep fighting, we can’t let that go. We have to aim for the top four. “It’s difficult at the minute, everyone is doing quite well above us. But we are looking above us rather than behind us. We are not looking to catch an individual team but to just get as many points as we can.” White Hart Lane will bid farewell to Jermain Defoe on Thursday with the striker, currently injured, about to complete his move to Toronto following 143 goals in two spells with Spurs. Naughton added: “Defoe has been great for us while I have been here. “He’s been great to play with, just to give him the ball and let him do the business. He’s been a great finisher, he still is, and a fans’ favourite. He will be missed.” Spurs have failed to win six of their nine matches following a European outing this season, a statistic which has undermined their bid for a top-four finish. Sunday’s defeat at Norwich, which leaves them trailing fourth-placed Liverpool by six points, came on the back of a 1-0 loss against Dnipro in Ukraine. center_img Kyle Naughton does not think Tottenham can use their gruelling Europa League campaign as an excuse for falling off the pace in the Barclays Premier League.last_img read more

Porn company offers Jacksonville Jaguars QB $1M to lead fitness class naked

first_imgThe letter says he would be part of a new fitness program that live streams classes taught by adult entertainment stars.We’ll have to see whether Minshew, who has not commented on the matter at this time will accept the $1 million deal. Adult website CamSoda is offering one million dollars for Jacksonville Jaguars quarterback Gardner Minshew to lead a fitness class naked or wearing just a jockstrap.The QB took over for Nick Foles after he was injured in the first game this season.Minshew is known for exercising with bands in the locker room wearing just a jockstrap, or sometimes nothing at all.CamSoda made the offer in a letter later posted on Twitter.We have officially reached peak Gardner Minshew: He’s being offered an endorsement deal with an adult website to teach fitness classes online. Apparently, they heard about the fact that he likes to stretch in his jock strap during pregame #Jaguars pic.twitter.com/tYhpq7S9H0— John Breech (@johnbreech) September 18, 2019last_img read more

East Bengal’s Justin suspended for six matches

first_imgKolkata: The All India Football Federation’s (AIFF) disciplinary committee on Tuesday banned East Bengal forward Jobby Justin and Aizawl FC defender Kareem Omolaja for six matches while Gokulam Kerala FC midfielder Guilherme Castro was suspended for a year.Justin and Omolaja were fined Rs 1 lakh for spitting on each other during their I-League clash while Castro was fined Rs 2 lakh for spitting on the referee.In the match between East Bengal and Aizawl, Justin and Omolaja clashed against each other and the referee showed two yellow cards in succession to the defender and sent him off.The first was for a rash tackle on Justin and the second for dissent. IANS Also Read: Sports Newslast_img read more

ACC Roundup Week 9: Suspensions after Miami’s miracle, SU’s struggles and more

first_img Facebook Twitter Google+ Virginia Tech (4-5, 2-3) led Boston College (3-6, 0-6) in Chestnut Hill, Massachusetts 20-0 at halftime. The Hokies, led by quarterback Michael Brewer, who made his second start back from a broken collarbone, hung on to win, 26-10.A week after Georgia Tech (3-6, 1-5) stunned Florida State with a field goal block and return for the win, the Yellow Jackets fell to Virginia (3-5, 2-2), 27-21. GT quarterback Justin Thomas’ fourth-and-4 pass fell incomplete with about a minute to play.No starters, no problems. No. 17 Florida State (7-1, 5-1) beat Syracuse (3-5, 1-3) behind strong play from its backup quarterback, Sean Maguire, who roasted the Orange’s secondary, and backup running back Jacques Patrick, who bulldozed the SU defense. Syracuse quarterback Eric Dungey turned in a rocky performance. Ryan Norton’s “bad kick” also hurt the Orange’s cause.Read The Daily Orange’s full coverage here. Comments Related Stories FSU backup QB Sean Maguire roasts Syracuse in blowout winFSU running back Jacques Patrick uses big stature to bulldoze Syracuse defenseEric Dungey turns in rocky performance against FSUVisual breakdown: How FSU’s Travis Rudolph burned Syracuse’s secondary Published on November 1, 2015 at 4:16 pm Contact Sam: sjfortie@syr.edu | @Sam4TR Marquise Williams threw two touchdowns while leading North Carolina (7-1, 4-0 Atlantic Coast) to its seventh straight win, this one over No. 23 Pittsburgh (6-2, 4-1). The 26-19 win has UNC is off to its best start since 1997.The defense for Louisville (4-4, 3-2) forced five second-half turnovers as the Cardinals beat Wake Forest (3-6, 1-5), 20-19.One week after beating Miami so badly (58-0) that the Hurricanes fired its head coach, No. 3 Clemson (8-0, 5-0) thumped North Carolina State (5-3, 1-3), 56-41. Quarterback Deshaun Watson accounted for six touchdowns.After the hullabaloo of Saturday died down on Sunday, the NCAA suspended the officials which allowed Miami (5-3, 2-2) to keep the win after the Hurricanes scored on a questionable, eight-lateral, last-second kickoff return scramble. Miami’s defeat of No. 22 Duke (6-2, 3-1), 30-27, came into question when it appeared a player’s knees hit the ground. But the Hurricanes kept the win on the field, and on Twitter.last_img read more

Azerbaijan are tops, Uganda 33rd as Islamic Solidarity Games end

first_imgUganda’s only medalist at the 4th Islamic Solidarity Games was Halimah Nakaayi (L). Other medalists in the 800m event she competed in were Morocco’s Malika Akkaoui (C) and Benin’s Noelie Yarigo (R) . AFP PHOTOBaku, Azerbaijan | AFP-Services (text stories) |  The fourth Islamic Solidarity Games ended in Baku on Monday with hosts Azerbaijan topping the medals table after a relentess 11-day long battle with neighbours Turkey.Oddly enough, the Azeri team came up empty handed in terms of gold medals on the final day of action, the only time that had happened during the Games.But on the back of a superb Sunday which culminated in football gold, Azerbaijan were all but assured of top spot with a 75-68 lead and just 11 golds to be disputed on Monday.Uganda came 33rd overall out of 50 nations, with Nakaayi’s silver in the athletics 800m the country’s second medal ever at an Islamic Solidarity Games. (see full standings page 2)The country’s only other medal came at the inaugural Islamic Games in 2005.Uganda was represented at the games by an athletics, swimming, tennis , weightlifting team and the sport of Zurkhaneh.  Zurkhaneh ritual is a traditional heroic sport that has its roots in Iran. It combines martial arts, calisthenics, strength training and music. Turkey challenge Turkey edged closer to the top by bagging both tennis singles titles and adding one from the wushu martial arts, but that still left them four golds adrift at 75-71.The Turks had the consolation of ending up with the highest overall – gold, silver and bronze – medal haul with 195 to 162.Iran had a strong finish to the Games, lifting eight of the last 11 golds, six of those coming in wushu and they consolidated third place in the medals list with 39 golds and 98 in total.They were simply unstoppable in the wushu sanda events, underlining their supremacy by winning all of their bouts and storming to six of seven gold medals available.Azerbaijan had to settle for three silvers at the Baku Sports Hall after losing all of their finals to the implacable Iranians.The only gold to escape the Iranian stranglehold came in the 48kg division, in which there was no Iranian fighter. Turkey’s Mehmet Demirci took advantage to dominate Kyrgyzstan’s Turatbek Sulaimankul in the final.Iran also won both gold medals in the table tennis, the final gold medals of the games to be decided.The men’s outfit of Alamian brothers Noshad and Nima, as well as Afshin Noroozi, got the better of Turkey 3-1, after the women’s trio had claimed a gripping 3-1 victory over hosts Azerbaijan in the first final.Share on: WhatsApp Pages: 1 2last_img read more