Swiss BVK beats the market with 9% investment gains

first_img“Beyond a target level of 115% the BVK will have the necessary buffers to absorb volatilities on the financial markets,” the fund said. Improvements to benefits would also be possible, it added.The BVK was among the first Swiss Pensionskassen to make drastic cuts to its technical parameters in 2016 in order to accommodate for increasing longevity and the low interest rate environment.Despite these cuts many organisations opted to stay with the fund, making the BVK the largest Swiss Pensionskasse by member numbers. The pension fund has 118,800 members, 2.8% more than a year earlier.Last week, Publica, the largest pension fund by assets, reported a return of 6.7% on its CHF39bn in assets.However, the pension fund for the federal government and other institutions runs both closed portfolios – which are less flexible in their asset allocation – as well as open ones.The open funds within Publica make up CHF36bn of its assets and have, among other things, a higher allocation to emerging markets. They returned just over 7% on average.This is still below the 7.82% calculated by UBS as the market average for Swiss Pensionskassen – “the best result since 2009”, the bank said.The analysts confirmed that equities were the main driver for performance. On average Pensionskassen have 29.8% of their portfolios invested in equities.Using a different sample for its calculations, Credit Suisse reported a market average investment return of 8%.Meanwhile, Swisscanto’s monitor showed a 7.2% return for the market. It also reported that private-sector Pensionskassen were on average 113% funded, compared to 99% for public sector funds. The CHF33bn (€27bn) BVK Pensionskasse for the Swiss canton of Zurich reported a return of 9% for 2017.Returns were mainly boosted by equities, which can make up as much as 40% of the pension fund’s portfolio according to its strategic asset allocation.“The highest results were achieved by equities from emerging markets with a return of 32%,” the BVK noted in a press release.According to preliminary calculations – the final ones will be available in spring with the annual report – the pension fund has achieved a 100% funding level, up from 92.6% a year before.last_img read more

Mannone sounds Westwood warning

first_imgNew Sunderland goalkeeper Vito Mannone has warned Keiren Westwood he did not join the club to sit on the bench. Press Association Mannone added: “We live in a world of competition. I will work and do my best to be in the first eleven, and then the manager will decide. All I can do is try to show what I am capable of.” Both men have big boots to fill with Belgium international Mignolet having earned a £9million move to Liverpool with consistently excellent performances during his time at the Stadium of Light. Westwood is desperate to regain his international place with Ireland boss Giovanni Trapattoni having turned to Millwall’s David Forde because of his lack of club football, and that will provide him with an added incentive to make the most of Mignolet’s departure. However, Mannone is viewing his arrival on Wearside as a chance to fulfil the potential which persuaded Arsene Wenger to take him to north London, and he is confident Sunderland can give him the platform to do just that. He said: “The potential [of the club] is incredible. I have come from a big club but to be honest, I don’t see any difference in the facilities. From what I can see on my first day, they are brilliant. To have good facilities where you can work and improve is something every club wants to achieve. “The base is there and I am really happy to be here. I waited a long time for an opportunity like Sunderland, and for me it is a great one. I’m very excited. I am here to work hard and to show what I can do.” Mannone follows Valentin Roberge, Modibo Diakite, Cabral, David Moberg Karlsson and Duncan Watmore into the club with the Black Cats’ summer recruitment drive showing little sign of abating. center_img The 25-year-old Italian becomes the latest man to accept compatriot Paolo Di Canio’s offer of employment on Wearside as the manager moved to replace the departed Simon Mignolet. Mannone, who joined Arsenal from Atalanta as a 17-year-old, has signed a two-year deal for an undisclosed fee, understood to be around £2million. However, having made just 26 senior appearances in eight years with the Gunners, the former Italy Under-21 international wants regular football, and that means a battle with Republic of Ireland international Westwood. He told the club’s official website: “Of course, every player knows they have competition.” last_img read more

Badgers to take on in-state rival Phoenix

first_imgLuke Goodnetter and the Badgers will try to break an 11-game winless streak as in-state rival UW-Green Bay visits Madison.[/media-credit]The Wisconsin men’s soccer team will take on UW-Green Bay at home Wednesday in a game that head coach John Trask considers the ideal matchup at this point in the season.The 1-9-2 Badgers have not won in 11 games and are coming off a disheartening 3-0 loss to No. 16 Michigan State. Additionally, UW has not achieved its desired results in mid-week, non-conference games this season, defeating just one opponent in nine games.However, Trask says Wednesday’s match will be a great chance for Wisconsin to recover from this drought.“Green Bay is absolutely the perfect team to play because of the type of players that they have,” Trask said. “Not only are they good, they have an All-American frontrunner. They are feisty, they are physical and they come to compete. You have to be ready for that, and that is what we need tomorrow; we need a test.”The Badgers will have to keep a close eye on senior Phoenix midfielder JC Banks, who has already equaled UW’s entire team scoring output this season with eight goals. Banks has also recorded five assists, accounting for 21 total points on the season.“JC is a tremendously talented player,” Trask said. “He’s not just clever and mature in terms of his soccer mind and touch on the ball, he’s a very dynamic athlete. He’s the type of player that can take over a game from beginning to end. Whether he comes out of midfield or up front, he’s going to be an absolute handful for us, and he is for anyone he plays. He’s an exceptional talent in the college game, and he has really matured.”To address Banks’ impressive offensive capabilities, sophomore center defender Kyle McCrudden said physicality would be key. McCrudden said that while he is incredibly fast and athletic, at just 5-foot-8 and 145 pounds, Banks is not very big.McCrudden believes that pushing Banks around a little bit could get him to back off and become less aggressive. Organization on defense in the team’s new 4-4-2 formation will also be critical, according to McCrudden.Freshman defender Luke Goodnetter says facing Banks will be no different form facing Indiana’s Will Bruin, Creighton’s Ethan Finlay or any of the other dynamic offensive threats the team has had to deal with this season. Sticking to the game plan, giving Banks space and learning more about his style of play through game film will all help UW contain the Phoenix midfielder.Goodnetter believes aggressive play and a strong desire to take advantage of scoring opportunities will yield success for the UW attacking unit.“To be honest, I think we just need to be a little more feisty up top,” Goodnetter said. “Really, we just have to start putting our body into [opposing players]. We’ve got to get goals more. We just have to want it more, that’s what is comes down to.”Over the course of the season, Wisconsin has played well at times, but has also fallen victim to mistakes that have prevented the team from achieving the results UW players and coaches know they are capable of.“We’ve had a lot of inconsistent play,” Trask said. “It comes down to a lot of little things that I find when you don’t have a boatload of experience on the field, it’s hard to cover for all these little mistakes that are being made.”Despite the numerous inexperienced players on the field for UW during almost every game, Trask believes the young defense has matured and meshed together sufficiently for the coaches to make a necessary formation change.Instead of the team’s typical 5-4-1 formation, Wisconsin will adopt a more attacking 4-4-2 formation Wednesday in hopes of gaining more scoring opportunities. Trask has yet to determine who will play alongside Chris Prince at forward against Green Bay.Additionally, after giving up five goals in just one game and a half, Trask has decided midway through the MSU game to relinquish senior tri-captain Ryan Vint of his starting goalkeeper role, and will instead start freshman Max Jentsch in goal.“Ryan has been told this was not just giving Jentsch some experience,” Trask said. “At this point, Jentsch is the starting goalkeeper, now he has to earn the right to stay in goal. As I said to Ryan, I hope for Max Jentsch – as I hope for any player when given the opportunity – that they perform heroically and never look back.”“That’s my hope with every player I put on the field game in and game out starting,” Trask continued. “That’s all you can hope for as a coach. You wouldn’t put the player out there if you didn’t think he was the best at the time for the job, and that’s what we think Max is right this second.”last_img read more

African players in Europe: ‘Diving’ Salah under fire

first_imgMohamed Salah. PHOTO via  @LivEchoLFC Paris, France | AFP | Egypt superstar Mohamed Salah was compared to British Olympic diver Tom Daley at the weekend after winning the penalty that sealed a 2-0 victory for title-chasing Liverpool at lowly Cardiff.The exaggerated fall by the reigning African Footballer of the Year angered Cardiff manager Neil Warnock as the Reds took a two-point lead over Manchester City.Salah and attack partner Sadio Mane from Senegal failed to score, but Ivorian Wilfried Zaha and Gabonese Pierre-Emerick Aubameyang netted as Crystal Palace upset Arsenal 3-2.ENGLANDMOHAMED SALAH (Liverpool)The striker found himself being compared to British diver Tom Daley by the frustrated Cardiff manager after earning the penalty converted by James Milner that secured the Premier League title-chasing Reds a 2-0 win in the Welsh capital. The forward was clearly grappled inside the area by Cardiff captain Sean Morrison but the exaggerated fall left Warnock bemoaning how he had made the most of the opportunity the Bluebirds had given him.  “I think the end of it was a 9.9 Tom Daley job. I don’t think he could have got much higher off the diving board at the end of it,” said the veteran manager.WILFRIED ZAHA (Crystal Palace)Going from Crystal Palace straight to the Champions League may seem like a big leap but it is one the forward has said he wants to make at the end of the season. The Eagles star gave a glimpse of his class in a shock 3-2 win over Arsenal, providing a fine cross which Christian Benteke ballooned over the crossbar. He then scored their second goal after making the most of a mistake by Shkodran Mustafi.PIERRE-EMERICK AUBAMEYANG (Arsenal)The former African Footballer of the Year gave his side hope of rescuing a point against Palace when he scored their second goal — his 24th of the season — in the 77th minute but that incisive burst was as good as it got for the Gunners.SPAINSOFIANE BOUFAL (Celta Vigo)Moroccan striker Boufal scored a stunning winner as Celta beat Girona 2-1 in La Liga. Boufal dribbled in from the left and curled the ball into the corner for his third goal of the season to give Celta what could prove a crucial victory against one of their rivals in the battle against relegation.KARL TOKO EKAMBI (Villarreal)/NABIL EL ZHAR (Leganes)Cameroon forward Ekambi scored his 17th goal of the season to help Villarreal beat Leganes 2-1. Toko Ekambi guided a shot into the far corner to give Villarreal a two-goal lead before Moroccan El Zhar converted a late penalty to give Leganes brief hope of a comeback. Victory sends Villarreal up to 14th, four points clear of the relegation places. ITALYHAMED JUNIOR TRAORE (Empoli)Ivorian Traore scored his first senior goal in Italy for relegation-threatened Empoli in a 4-2 defeat by SPAL. On loan from Fiorentina to Empoli, where he has played since 2017, the 19-year-old collected a Levan Mchedlidze pass to fire in from just outside the box on 47 minutes.GERMANYISHAK BELFODIL (Hoffenheim)Hoffenheim’s towering Algerian midfielder continued his superb form in 2019, scoring twice in a 5-2 win over Schalke. Belfodil scored either side of half-time to make it seven goals in his last four games and take his tally to 11 this year.SALOMON KALOU (Hertha Berlin)The Ivorian veteran missed several chances as Hertha laboured to a 0-0 draw with bottom-of-the-table Hanover. The result ended a five-game losing streak for Hertha, but keeps them in the doldrums after it was announced that coach Pal Dardai would step down at the end of the season.FRANCEKALIFA COULIBALY (Nantes)Malian Coulibaly took his tally to four goals in the last five games as Nantes beat struggling Amiens 3-2 to pull well clear of the relegation battle. The 1.97m striker has had the tough task of filling the void left by the late Emiliano Sala but his recent form suggests he is growing in confidence. With the scores level, Coulibaly turned the game his team’s way with two goals in six minutes early in the second half. He scored the first with a low strike after he was put through by Ghanaian team-mate Majeed Waris. The second was a header from a corner.BRICE SAMBA (Caen)Congo Brazzaville-born goalkeeper Samba, who started the season by making costly mistakes in a loss at Paris Saint-Germain, was the hero as Caen climbed off the bottom of the table, and gave themselves hope of escaping the automatic relegation places, with a 1-0 win at Patrick Vieira’s Nice. The scores were level when Alexander Djiku handled a free-kick from Malang Sarr. But Samba stretched to save the spot-kick by Remi Walter. Djiku made amends by scoring Caen’s second-half winner.Share on: WhatsApplast_img read more