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Equity boosts 2013 returns at ABP despite losses in infrastructure, commodities

first_imgThe €309bn Dutch civil service scheme ABP said it plans to stand by its strategic investment plan for 2013-2015, focusing on an asset ratio of 40% fixed income and 60% securities, as it announced annual investment returns of over 6%.Over the course of 2013, ABP said slightly increased its equity and government bond allocation at the expense of inflation-linked investments and alternatives, according to its annual report.During 2013, the civil service scheme reduced its hedge on part of the main currencies, but decided to maintain the 25% interest cover on its liabilities.The pension fund attributed its annual result in part to a 22.1% yield from developed market equity, which generated an out-performance of 2.2 percentage points due to quantitative and fundamental strategies in place. The 17.5% return on private equity was due to favourable conditions for the listing of companies, ABP added. In contrast, it lost 6.1% on equity emerging markets, with holdings in Latin America performing worst and losing 16.9%.Inflation-linked bonds returned -4.1%, according to ABP, which noted that Italian government paper generated a positive result. It lost 3.9% on commodities, in part thanks to disappointing results of precious metals, it said. The scheme’s property portfolio delivered 1.3% on balance, chiefly due to a 3% profit of its 24% holdings of tactical real estate. Strategic property – meant to create additional value in the long run – produced gains of 0.8%.Hedge funds investments yielded 1.8%, with credit-related equity and reinsurance the most successful strategies, the pension fund added.Last year ABP incurred a 3% loss on its GTAA, “following unusually low volatility on equity markets, leading to a very low return at one manager,” said ABP, adding that the manager’s contract has now been terminated.It did not provide further details.It attributed the 0.7% loss on infrastructure to a combination of a weak worldwide economy, increasing red tape as well as the depreciation of the Australian dollar and the Indian rupee.The civil service scheme reported asset management costs of 76 basis points, and said it had spent €89 per participant on pensions administration.The Algemeen Burgerlijk Pensioenfonds closed the year 2013 with a funding of 105.9%, which was insufficient for inflation compensation. As a result, the indexation in arrears has increased to 9.24%.Its annual report further showed that the actual retirement age of its participants has increased from 59.3 to 63.5 since 2006.ABP has 2.8m participants in total, 1,096.000 of whom are employees and 793,000 are pensioners.last_img read more

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Roberto Mancini: Dzeko will score a minimum of 20 Goals by the End of the Season

first_imgCurrent coach of FC Inter Roberto Mancini spoke about Edin Dzeko with whom he collaborated in Manchester City, in an interview with the Italian Il Messagerro.Italian expert believes that Dzeko can score at least 20 goals in the jersey of Roma by the end of the season.“I insisted on his transfer from Wolfsburg to Manchester City. I needed attacker with his quality, who is also technically very shod as well as physically strong,” remembered Mancini, who is convinced that Roma did a great job by signing the contract with Dzeko.“Edin is very good and his 20 goals will come for sure. Dzeko must always feel important for the team. Otherwise he knows to ‘strike’,” added the Italian expert.Edin Dzeko and Roberto Mancini together won the Champions League almost three years ago. Dzeko was one of the key players of the Citizens in the match in the last round of the season.(Source: klix.ba)last_img read more

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Geek deals Windows 8 Pro for 39 Wii U bundle more

first_imgWell fellow geeks, October 26th came and the world did not end. Windows 8 is now available to the masses and if you upgrade soon you can save yourself a bundle of cash.The relatively high number of new systems announced to go with Windows 8 did surprised us a bit. A gaggle of new touch-focused PCs were released by the big manufacturers to best take advantage of the new OS, offering streamlined navigation and touch-friendly interaction. Is this the first step to a world where computers act like those in the film Minority Report or just the excitement of manufacturers finally having a reason to sell us something new (Windows 7 certainly wasn’t).Microsoft sure is making it easy to get your hands on their new offering. For just $39.99, the Microsoft Store is offering downloads of the Windows 8 Pro upgrade. This is the lowest out of pocket price we have seen yet for the new OS.Being an upgrade version of the software, you will need to have Windows XP SP3, Vista, or Win 7 installed on your PC already. We have also heard that the “upgrade” process from 7 to 8 is not the destructive “back up files, wipe all, restore files” process that it has been in the past. Head over and check out this offer direct from Microsoft, but keep in mind we have no idea how long they plan to offer it.Deal offers may have changed since original post.Microsoft Windows 8 Pro Upgrade [download] for $39.99Our other top deals:Customizable Sony VAIO 13.3-inch Ivy Bridge Core i5 Laptop for $624.99 + free shipping(normally $724.99 | use coupon code SONYS1311 | ends Nov. 2 or sooner)Pre-order Nintendo Wii U Console Bundle w/ Choice of Game & Controller for $399.88Refurbished Apple iPads WiFi & 3G/4G models, 3rd gen starting at $379 + free shippinglast_img read more

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