Equities drive strongest returns in three years at Romanian schemes

first_imgRaluca Tintoiu, chief executive at the fund, told IPE it wanted to increase its exposure to equities in 2014, “taking into account a potential decrease in fixed income instruments’ yields”.This is an ongoing trend across the system, as Romanian pension funds in general have boosted their equity exposure since 2013. Equity allocations now exceed 12% on average, up from 3% just after the financial crisis in 2009.The APAPR added that Romanian pension funds also made major investments in all of the government’s IPOs and SPOs last year.“Overall, 95% of the pension funds’ assets are invested locally, with only 5% foreign exposure,” it said.Tintoiu said she would like to see more flexibility in regulation to allow pension funds to invest in alternative asset classes such as real estate and OTC-traded corporate bonds, among other things, as this “could benefit our pension plan members on the long run”.Contrary to many other countries in the Central and Eastern European region, where governments have expropriated funds in the second pillar, Romania has increased the contribution level to 4.5%.Tintoiu said she was convinced the government would not change this.“We read this as a sign of a better general understanding for the need to support and develop the second-pillar system, on behalf of both the authorities and opinion leaders – be they think tanks, analysts or academics.”She conceded that strong annual returns also made it harder to criticise the system.Tintoiu pointed out that, according to Romanian legislation, participation in the second pillar gives plan members ownership rights protected by the Constitution.“The likelihood of nationalisation is very low,” she said, “as long as authorities respect the current legal framework.” An increased allocation to equities has helped Romanian pension funds – including the RON5.3bn (€1.17bn) ING fund – to their strongest returns in three years.According to statistics compiled by the Romanian pension fund association APAPR, the average return for 2011 was 11.75%, while the annualised average since inception in 2008 now stands at 11.5%.Investment returns contributed RON2.6bn to the system last year, while contributions added RON11.3bn, bringing the total value of assets in the second pillar to RON14bn.The largest pension fund in the mandatory system, the ING pension fund, returned 11.29% – just below the average.last_img read more

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8 repatriated OFWs arrive in Roxas City

first_imgEight overseas Filipino workers who were stranded in Cebu return in Roxas City onboard a plane chartered by the city government on May 14. They are currently at the city’s isolation center in Barangay Milibili undergoing a 14-day mandatory quarantine. GLENN BEUP ROXAS City – Eight overseas Filipino Workers (OFWs) who were stranded in Cebu since last month due to travel restrictions brought by coronavirus disease 2019 (COVID-19) were repatriated onboard a private plane chartered by the city government.They are the third batch of repatriates who arrived in this city.After arriving at the city’s airport around 4 p.m. on May 14, the OFWs were immediately transported to the city’s isolation facility in Barangay Milibili to undergo a 14-day mandatory quarantine, mayor Ronnie Dadivas said.A rapid test was then conducted to them there, and they all yielded negative results for COVID-19.Prior to their arrival in the city, they also tested negative for the virus in Cebu using a reverse transcription polymerase chain reaction machine.On May 14 also, 6 OFWs – two women and four men – who were stranded in Manila finished their mandatory quarantine in the city’s isolation facility.“To our OFW’s repatriates, salamat sa inyo suporta kag kooperasyon sa pagsunod sa patakaran sang aton quarantine facility,” Dadivas said.The overseas workers were immediately welcomed by their family members.On the other hand, 14 residents here who were stranded in Boracay Island, Malay, Aklan were picked up by the city government yesterday.All of them also yielded negative results in the rapid test for COVID-19.(With a report from PIA/PN)last_img read more

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‘Pink out’ planned in Greensburg

first_imgGreensburg, In. — The Decatur County Memorial Hospital encourages the community to support breast awareness Friday, October 26.While the entire community is encouraged to wear pink, employees at the Decatur County Memorial Hospital will donate $5. Those funds will be used to help those less fortunate get the mammograms they need for preventive care.Residents are encouraged to post pictures of their pink outfits on social media.last_img

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Sexton: Schmidt is the best coach

first_img Press Association The 35-year-old centre will make his 141st and final Test appearance at the Stade de France on Saturday, with Ireland in pole position to sweep the Six Nations title should they subdue their hosts. Racing Metro playmaker Sexton believes an Ireland win would surpass the achievements of O’Driscoll and captain Keith Wood’s 2000 vintage, a first Six Nations title since 2009 adding extra weight. “I think we’ve got the best coach around; I think we’re going to go in with a game plan that everyone trusts,” said Sexton. “I think we’re full of confidence, we think that we can go there and do the job. “We don’t get too bogged down in ‘we haven’t won there for this long, we haven’t done this or that, so on’. “We’ll be very much focused on how we’ll beat them with our attacking moves, with the defence we use on the day. “The history will be talked about by everyone else, and I think it’s better like that for us.” Ulster wing Tommy Bowe has been released for club duty this weekend after training with Ireland on Monday. Cian Healy is now expected to make a full recovery from the ankle problem he suffered against Italy, while Peter O’Mahony is back to full fitness after hamstring trouble. Relishing the challenge of facing the French in the city that homes his Top 14 club side, Sexton said head coach Schmidt knows how to alleviate big-game pressure. Sexton won two Heineken Cups, a RaboDirect PRO12 title and the Amlin Challenge Cup under Schmidt’s Leinster stewardship. Now the 28-year-old is confident the schoolteacher turned international coach can deliver again. “Sometimes when you go into finals, you get so worried about the result that you lose track of what got you there in the first place,” said Sexton. “It will be very much performance-driven. “From having worked with all the coaches here before, especially with Joe, having played European finals and Rabo finals, it’ll be very much focused on the performance. “Even though it’s a winner-takes-all, it’s very much the same as usual. “It just shows how difficult it is to go and win there; that’s all it shows us. “It means if we go and win, we’ll have earned it and it’ll be something to remember. “We’ve a chance to go and make history now. “It would eclipse what they did in 2000, because there’s a trophy on the line.” Sexton expects to have to strap his thumb for match action for the rest of the season, as he continues to recover from ligament damage. The 42-cap outside-half warned Ireland not to let France’s inconsistency lull them into a false sense of security. “We have to be wary of this French team,” said Sexton, aware that France can still claim the Six Nations crown for themselves. “We just had a look at their player profiles, their individuals, and it’s pretty impressive, no matter what position you look in. “We don’t know what team they’re going to pick, but they’re going to be very dangerous. “I don’t think they’d be delighted with the way they’ve performed, but at the end of the day they’re coming into a cup final this weekend. “They’ve a championship to play for, the same as us. “They haven’t set the world alight like we know they can, but we have to be ready for the chance that they do it this weekend. “They’ve individuals across the park so you just can’t write them off.” Joe Schmidt can spearhead an RBS Six Nations title drive against France to “eclipse” Ireland’s only win in Paris for 42 years, according to Johnny Sexton. Fly-half Sexton hailed boss Schmidt as “the best coach around” and is confident the New Zealander can inspire Ireland’s first win in France since 2000. Brian O’Driscoll’s stunning hat-trick from that 27-25 still resonates, with Ireland unable to repeat that winning feat for a generation. last_img read more

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Tower ‘sore’ after Navan spill

first_img Press Association The Barry Connell-owned six-year-old still held every chance in the Grade Two event when he came to grief at the second-last. It was only the second defeat of his career but a tilt at the Grade Two Navan Novice Hurdle is now up in the air. Mags Mullins hopes Martello Tower has escaped serious injury after his fall in the Monksfield Novice Hurdle at Navan on Sunday.center_img Mullins said: “He is stiff and sore. I think everything is OK with him but he got a fair slap and we just walked him around. For the first few days you are never quite sure, but at the moment the vets have looked at him and we are happy enough. “He is a tough and unassuming horse and hopefully he will be OK. He has a couple of superficial cuts. We will know more in the next few days, but I think we are winning. “He was running a great race up until then. He is an idler and it is only when you get after him that he starts to go. The other horse won fair and square and well done to them. You have to jump and unfortunately we didn’t. Everyone walked away OK and thankfully Adrian (Heskin) was OK. “I’ll talk to Barry (Connell, owner) now as to where we will go. We will let him get over this before making a plan. What was the Sandra and Barry Kelly Hurdle at Navan (December 14) was the plan but I don’t know if we will get there now. There is a hurdle in the first week of January that I was thinking about as well. “Fingers crossed over the next few days that he keeps going the way he is going.” last_img read more

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Liverpool complete signing of Marko Grujic

first_imgJurgen Klopp has made his first signing as Liverpool manager after concluding a deal for Serbian teenager Marko Grujic. Press Association “To describe him, I would say he’s a tall boy, but quick and good at technical things. He can play passes and can dribble. “But he is young, so he has to develop. He will do this, so everything is okay.” While the arrival of Grujic marks the start of Klopp’s restructuring of the squad he inherited from Brendan Rodgers the German has more pressing concerns which need to be addressed in the January window. Injuries to centre-backs Martin Skrtel, Dejan Lovren, Mamadou Sakho and Joe Gomez mean he is looking for cover with a busy month ahead. Liverpool do have one other centre-back in Tiago Ilori who is on loan at Aston Villa but he has yet to make an appearance for the Midlanders – or indeed his parent club having arrived from Sporting Lisbon in September 2013. An agreement would have to be made with Villa to cancel the loan as there was no recall clause written into the original deal. Liverpool are tracking Schalke defender Joel Matip, who is out of contract at the end of the season, but there remains plenty of work to be done to sign the German-born Cameroon international. At least two French clubs appear to be ahead of Liverpool in the running for the 24-year-old while Schalke have not given up hope the centre-back will sign a new contract. Liverpool’s initial intention was to hopefully sign Matip in the summer but their current crisis may mean they have to bring forward that plan. “I’m very excited and so proud to be here and a member of Liverpool Football Club. I can’t wait to get started, play at Anfield and train at Melwood,” Grujic told liverpoolfc.com. “I was thinking about my progress in my next period and decided it was good for me to come here and try to be the best I can. “I want to play in front of one of the loudest set of fans in Europe at Anfield. “I also like the atmospheres at other stadiums, the crowds are very good. I like to play under pressure and that’s why I’ve come here – because it brings out the best in me.” Klopp was alerted to Grujic’s potential soon after arriving as Brendan Rodgers’ replacement in October and now the deal has been wrapped up. We’re very pleased because Marko is a big talent and we’ve seen him a lot of times,” said the German. “When I came here, our scouts showed me some footage of a very skilled player from Red Star Belgrade. “We watched it, we spoke to him, we met each other – he’s a good boy, a young boy but plays an important role at the moment at Red Star, who are the best team in Serbia. Press Association Sport understands the 19-year-old midfielder, who will cost £5.1million, has signed a four-year contract but will return to former club Red Star Belgrade on loan for the remainder of the season and will rejoin the Reds in July. Liverpool fought off interest from Russian clubs CSKA Moscow and Zenit St Petersburg, who were offering over £7m, following personal intervention from Klopp after being advised about the under-21 international by his Serbian assistant Zeljko Buvac. last_img read more

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Indian Premier League MS Dhoni’s angry outburst with umpire mars Chennai Super Kings win against Rajasthan Royals

first_img For all the Latest Sports News News, Indian Premier League News, Download News Nation Android and iOS Mobile Apps. New Delhi: Chennai Super Kings needed 18 runs to win off the final over in their chase of 152 against Rajasthan Royals at the Sawai Mansingh stadium in Jaipur. MS Dhoni was batting brilliantly on 58 and Ben Stokes was bowling the final over. Chennai Super Kings started off well with Ravindra Jadeja blasting a six straight down the ground but Stokes got the big wicket of Dhoni with a yorker which sent the skipper back. On the fourth ball of the innings, controversy erupted. Stokes bowled a slow, full toss which seemed over the waist and Mitchell Santner whacked it to wide long on for a couple.Initially, umpire Ulhas Gandhe raised the arm to signal a no-ball for height and the buzzers at the ground went off. However, the square leg umpire Bruce Oxenford over-ruled it. This infuriated Dhoni who charged onto the playing field and protested the decision. Dhoni pointed out that umpire Gandhe had raised the arm and it should be a no-ball but umpire Oxenford stated that he did not signal a no-ball. A heated argument ensued and few of the Rajasthan Royals players got involved.Play was held up for some time but Chennai Super Kings managed to get over the line when Santner clubbed a six off the last ball as they won the game by four wickets off the last ball. Following the incident, Dhoni was fined 50 percent of his match fee for the outburst. In a statement released by the IPL, it said, “Dhoni was fined 50 percent of his match fees for breaching the VIVO Indian Premier League’s (IPL) Code of Conduct during his team’s match against Rajasthan Royals at Jaipur. Dhoni admitted to the Level 2 offence 2.20 of the IPL’s Code of Conduct and accepted the sanction.” Chennai Super Kings coach Stephen Fleming said in the post-match presentation that Dhoni wanted some clarity. “Our understanding was that the umpire at the bowler’s end had called the no-ball and then there was confusion around whether it was a no ball or not. MS was after some clarity and it didn’t seem to be coming. So, he took the opportunity to go out in there and discuss it with the umpires,” Fleming said.Umpiring howlers dominate IPLThis is not the first time that umpiring controversies dominated the IPL 2019. In the match between Mumbai Indians and Royal Challengers Bangalore at the M Chinnaswamy stadium, the umpire failed to spot a no-ball from Lasith Malinga in the last ball of the 20th over as Mumbai Indians won by a close margin against Virat Kohli’s side. The replays were shown on the big screen and it showed Malinga had overstepped and this prompted Kohli to lash out at the umpires.During the Rajasthan Royals vs Kings XI Punjab game, the match was overshadowed by the mankading incident while in the game against Kings XI Punjab and Mumbai Indians at Mohali, the umpires had allowed Ashwin to bowl seven balls in one over. This latest controversy will only serve to increase the spotlight on the umpires as the tournament progresses. MS Dhoni has been fined 50 percent of his match fee for his outburst.The IPL 2019 has been overshadowed by umpiring blunders.Chennai Super Kings are on top of the table in IPL 2019. highlightslast_img read more

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Gay couple ‘saved’ by Ben Stokes, now want him knighted

first_imgTHE couple Ben Stokes ‘saved’ in a street fight in 2018 are calling for the cricketer to be knighted following his incredible Ashes innings.Millions of people across the country were glued to televisions and radios, eagerly following an innings that started as improbable, before becoming the inexplicable.Two of those watching were Kai Barry and William O’Connor. The couple claim Stokes defended them during a late-night brawl in Bristol last year and now they want the all-rounder to be made a knight of the realm after his recent heroics.Stokes ended up in court for his part in the incident but was eventually cleared of all charges. Barry and O’Connor stated throughout that they had been the victim of homophobic abuse and that Stokes had stepped in to defend them.Barry told The Sun: “There’s no question he should get a knighthood. He saved us, now he’s saved the Ashes. Ben risked his career for us. He’s my hero. He’s showed immense strength of character.”Even Prime Minister Boris Johnson weighed in. He said: “It was one of the most extraordinary innings I’ve ever seen. I think I’ve already promised that Ben Stokes should get a Dukedom so I can’t go any higher than that.“Clearly it’s not a matter for me but for some honours committee. I’m sure they’ll take the appropriate decision.”It comes after Stokes rescued England from almost certain defeat with an unbeaten 135 on Sunday.Australia were well on their way to winning the Test match, taking a 2-0 lead in the series and retaining the Ashes. After a promising innings in the field, England had been skittled out for just 67, Joe Denly top-scoring with 12.It was the lowest score England has posted in the Ashes in over 70 years. By the time Australia had completed their second innings, England were set the improbable target of 359.When Stokes came to the crease on Saturday evening it was all about survival. He scored just two runs from 50 deliveries; exactly what was needed at the time.Sunday began in a similar vein. He dug in and scored three runs of 73, only increasing it slightly afterwards to 51 off 152 balls. As his teammates played various cameos alongside him, he took centre stage, going on to produce arguably the greatest innings of all-time, certainly for an Englishman.His 135 not out means that the Test series remains alive and England still have a chance to win the Ashes this summer.After the win Stokes told the BBC: “Your family go through everything with you, good and bad, so it is great to be able to celebrate with them at times like this,”“I didn’t actually see Clare until late in the evening and I still had my training gear on and my England cap. (Yahoo Sport Uk)last_img read more

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Hazard Picks Jersey Number 23

first_imgEden Hazard has selected the number 23 to wear at Real Madrid, as he hopes to emulate the success of NBA greats Michael Jordan and LeBron James, according to Marca.Hazard isn’t going to be wearing the number 10 shirt, because that’s currently occupied by Ballon d’Or winner Luka Modric, so he’s had to choose another.The number 23 shirt at Real Madrid is mostly attributed to David Beckham, but now the Belgian is hoping to put his own mark on it.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Eden Hazard last_img

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Alpena Senior Citizens Center Host Luxury Event After Raising Over $18,000 for ‘Meals on Wheels’ Program

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisThe Alpena Senior Citizens Center hosted a ‘Luxury Event’ to say thank you to all of those who helped raise fund for the ‘Meals on Wheels’ program. Thanks to donations the center was able to raise over $18,000 which was past their $10,000 goal. ‘Meals on Wheels’ helps provide meals for seniors in Alpena County each week. AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Alpena Senior Citizens Center, Fundraiser, Luxury Event, Meals on WheelsContinue ReadingPrevious Judge Mack Sentences Two People in Regards to Past Meth ChargesNext Alpena, Alcona Area Credit Union Host Lunch & Registration for Upcoming Hospice of MI ‘Walk & Remember’last_img read more

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