Credit Suisse, UBS estimate 8% return for Swiss pension funds

first_imgSwiss pension funds are set to return 7.7% on average over the course of 2014, according to the latest Credit Suisse Pensionskassen Index.Credit Suisse’s estimate is considerably lower than that of Towers Watson, which, on behalf of the Swiss pension fund association ASIP, recently estimated a 10% average return.As a sample, Credit Suisse – as well as UBS – used Pensionskassen that have mandated the banks as global custodians.As of the end of November 2014, UBS estimated a 7% return for Pensionskassen in Switzerland, based on returns after the first 11 months having amounted to 6.98%. It said this would be the second highest return over the last five years, with 2012 having produced similar results at 7%, after a record high of 10.6% in 2009.Based on the Credit Suisse Index, the 7.73% anticipated return would also mark the best average performance for Swiss schemes since 2009.In a statement, it noted that all asset classes, except liquidity (-0.51%), contributed positively to the 2014 annual result.The main positive contributors were foreign equities (2.53%), Swiss equities (1.6%), Swiss bonds (1.46%), real estate (1.43%) and non-CHF bonds (0.85%).The annualised return of the Credit Suisse Pensionskassen Index since 2000 now stands at 2.84% – for the first time since the financial crisis, slightly higher than the annualised legal minimum interest rate of 2.56% that Pensionskassen must grant.last_img read more

F-M golfers set record; J-D takes first defeat of season

first_imgWhen the Section III large-school fall tournament tees off next Wednesday morning at Radisson, Fayetteville-Manlius will enter in top form, fresh off a record-setting performance that also clinched the Salt City Athletic Conference Metro division regular-season championship.It’s safe to say that the Hornets reached a peak in Friday’s match against West Genesee at Woodcrest, seven golfers shooting a cumulative one over par during a 176-198 victory over the Wildcats.A win was needed to make sure F-M stayed ahead of Baldwinsville in the final league standings, and it got there by breaking the team-low mark of 179 it set against Cicero-North Syracuse Blue on Aug. 23. Tags: Boys golfCBAESMF-MJ-D Enzo Abruzzese was the standout, posting a three-under-par 33 to top the 34 shot by Adam Butch and the 35 by Mike Millimaci. Then Andrew Heyman and Matt LaCombe both shot 37, meaning that 39s from Velton Perry and Jack Sommers were not even needed.After a week’s rest, F-M returned to action last Thursday, at Liverpool, where it handled the Warriors 193-203 with another display of consistency.Perry and Heyman both shot 38 at Liverpool Country Club, behind the 37 from Liverpool’s Dylan Husted. Then Butch, Millimaci and LaCombe each posted 39, which only the Warriors’ Spencer Baum could match.center_img Heading into the sectional tournament, Jamesville-DeWitt was one of the favorites in Class A, nearly making it through the entire regular season without a defeat.The Red Rams were finally topped last Wednesday afternoon in a three-team battle with Auburn and Central Square on the Maroons’ home course at Highland.J-D beat the Redhawks 207-219, but lost to Auburn, who posted 201 as Ross Burgmaster led them with a 37. All of the Maroons’ top golfers shot 43 or lower.Peter Hatton, with a 38, had the Rams’ lone sub-40 total. Punn Chittaratlert and Tyler Brang both posted 41 as Tanner Burns shot 43 and Essex Glowaki had a 44.The schedule was to allow for immediate revenge since J-D and Auburn would face East Syracuse Minoa’s pair of teams Thursday at the Links at Erie Village, but that got rained out.Back on Tuesday, J-D had roared past Syracuse City 194-237 at Drumlins, led by a 32 from Chittaratlert and a 33 from Hatton. Ian Delpha got a 42 as Matt Radford shot a 43 and Cooper Werner finished with a 44.ESM faced Fulton last Tuesday at Battle Island, with ESM Blue winning at 208 to the Red Raiders’ 227. David Griffith shot a 37, with Joe Pacheco and Dan Sitnik each posting 39. Owen White and Zach Johnson both finished at 46 as Colin Decker (49) and Logan Welch (50) had the best scores for ESM Orange, who finished at 263.At Willowbrook a day later, ESM met Cortland, with Blue falling 207-234 to the Purple Tigers as Orange shot 272. Pacheco and Sitnik each shot 43, but four Cortland golfers had that score or lower, led by a 36 from Andrew Partigianoni. White shot 48 and Johnson had a 49 as Aaron Reynolds led ESM Orange with a 51.At Rogues Roost on Tuesday, Christian Brothers Academy has its turn in the small-school version of the fall sectional tournament, having cooled off following a hot start in early September.CBA lost, 218-224, to Skaneateles last Tuesday, with Joe Nicholson shooting a 44 at Skaneateles Country Club, six behind the 38 by the Lakers’ Tynan Jones.The rest of the scores proved even as Jack MacLachlan, James Stanton and Mike Santoro each shot 45 for CBA, but Shawn Luce (43), Drew Henderson (44), Tyson DiRubbo (45) and Will Cowden (48) helped Skaneateles stay in front.Ending its skid on Wednesday, CBA beat Tully 202-225 as Nicholson and Stanton both finished at 38 and Ryan McLoughlin added a 39. Jack McLaughlin had a 43 and Angelo shot 44.Share this:FacebookTwitterLinkedInRedditComment on this Story last_img read more

Astros to extend protective netting at Minute Maid Park this season

first_img MLB wrap: Zack Greinke picks up win in Astros debut Recently the Blue Jays announced they will extend their netting at the Rogers Centre in 2020. The White Sox also recently installed extended netting, and the Nationals, Dodgers, Pirates, Orioles and Royals all said they would do so in the near future.The news comes after a Rangers fan was struck in the forehead by a foul ball at Globe Life Park. With assistance she was able to leave the stands to head to the hospital for further evaluation.There has been a call for all 30 parks to extend their netting, especially after a young girl was seriously injured at Minute Maid Park in May. Related News Blue Jays extending Rogers Centre protective netting for 2020 season Rangers fan hospitalized after being struck in head by foul ball The Astros are following the lead of some MLB teams by extending the protective netting in their stadium.Minute Maid Park will add extra netting beyond the left-field and right-field lines, further protecting fans from any foul balls, the team announced Thursday. The current netting will be replaced with knot-less netting to improve visibility from the stands, as well. The improvement will be ready for the Astros’ next homestand on Aug. 19.”Fan experience is always a top priority for the Astros,” the team said in a statement. “The Astros have followed Major League Baseball’s guidelines regarding netting while providing fans with a choice as to whether they sit in areas with or without protective netting. These changes will improve the fan’s experience and increase the number of seats behind protective netting. Fans will continue to have the option to sit in areas without netting.”last_img read more