Interest, currency hedges hit 2015 returns at Dutch transport scheme

first_imgThe 27.4% equity allocation returned 10.4%, with Japanese, US and low-volatility stocks performing best.Real estate and infrastructure holdings generated returns of 1.5% and 11.8%, respectively.In its 2015 annual report, the transport scheme said it made a €35m target investment (contributing to the UN’s Millennium Development Goals) in the SME Financial Fund of Actiam-FMO, which provides loans to financial institutions in developing countries.According to director Willem Brugman, Vervoer has committed to a total investment in the fund of more than €46m.He added that the scheme had already committed €30m to the Actiam Institutional Microfinance Fund 2 as a target investment in 2008.As of the end of April, funding at the scheme – which has 623,000 participants and pensioners, affiliated with more than 7,900 companies – stood at 98.8%. Vervoer, the €19.8bn sector-wide pension fund for private road transport in the Netherlands, reported a -1.5% loss in 2015 due to negative results on its interest and currency hedges.The pension fund achieved positive returns on all of the “traditional” asset classes, according to its 2015 annual report, yet this failed to offset losses incurred through its hedges.Vervoer reported a 2.5% loss on its 63% interest hedge, while its full hedge on the US dollar, the British pound and the Japanese yen caused a 5.1% loss after those currencies appreciated against the euro.The pension fund’s 69% fixed income allocation produced a 4.7% return over the period, in spite of losses on long-term, euro-denominated government bonds and local-currency emerging market debt.last_img read more

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Gardner-Webb, Hampton meet in conference play

first_imgGardner-Webb, Hampton meet in conference play STEPPING UP: The prolific Jermaine Marrow has averaged 23.9 points and 6.2 assists to lead the way for the Pirates. Complementing Marrow is Ben Stanley, who is producing 22 points and 7.5 rebounds per game. The Runnin’ Bulldogs are led by Eric Jamison Jr., who is averaging 14 points and 5.6 rebounds.CREATING OFFENSE: Marrow has either made or assisted on 46 percent of all Hampton field goals over the last five games. The senior guard has 33 field goals and 25 assists in those games.WINLESS WHEN: Gardner-Webb is 0-9 when scoring fewer than 64 points and 11-5 when scoring at least 64.STREAK SCORING: Hampton has won its last three home games, scoring an average of 83.3 points while giving up 75.DID YOU KNOW: Hampton has attempted the fourth-most free throws in all of Division I. The Pirates have averaged 24.7 free throws per game. February 19, 2020 Share This StoryFacebookTwitteremailPrintLinkedinRedditGardner-Webb (11-14, 7-6) vs. Hampton (11-15, 6-7)Hampton Convocation Center, Hampton, Virginia; Thursday, 7 p.m. ESTBOTTOM LINE: Gardner-Webb pays visit to Hampton in a Big South matchup. Gardner-Webb won 74-70 at home against Winthrop on Thursday. Hampton lost 76-68 on the road to Longwood on Saturday.center_img ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com Associated Press last_img read more

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