Aon: FTSE 350 DB scheme funding gap widens

first_imgAn analysis of defined benefit (DB) corporate pension schemes by consultancy Aon has revealed a widening gap between the best and worst funded schemes compared with the situation last year.The findings come as DB sponsors grapple with a period of market volatility that has so far dwarfed anything seen during 2019.Aon warned that its findings put sponsors on notice for them to urgently revisit both their investment strategy and their approach to risk management and governance – despite the flattering effect of the accounting on their true situation.Aon partner Trevor Brooks told IPE: “In 2020, we have continued to observe the same worrying pattern seen in previous years – the best funded schemes keep getting better, and the worst funded keep getting worse – with the best performers being those who are well hedged to interest rates and inflation.” According to Aon findings, the top 10% of DB schemes were funded to at least 115% last year, while the bottom 10% were less than 80% funded.By the end of June, however, the disparity had become even more extreme, with the top 10% of DB schemes still over 115% funded and the bottom 10% having fallen below 70% funded.That left the aggregate funding position of FTSE 350 DB at 95% amid the COVID-19 driven market upset and down one further percentage point by the end of June at 94%.According to Aon, a 1% shift in funding for the FTSE 350 amounted to broadly £9bn (€9.9bn) as at 30 June 2020.On an accounting basis, the firm also found schemes’ positions presented in a more positive light than market and macro-economic factors suggest.A study by consultancy LCP earlier this year also found little correlation between funding levels and reported accounting numbers.Indeed, Aon also noted that by mid-March, accounting liabilities had fallen thanks to substantial rises in AA credit spreads and the falling outlook for inflation.This improved accounting position had reversed, however, by the end of June following a reversal in credit spreads.Meanwhile, equity market declines have hit the asset side of the balance sheet with growth assets typically bearing the brunt of the pandemic-led slowdown.This picture compares less favourably with the situation last year, the consultancy found.From a starting point at the beginning of 2019 of being fully funded, FTSE 350 DB schemes saw their funding ratios drop to 97% in late August before clawing back lost ground to end the year 103% funded.These movements come against a backdrop of equity market gains of between 15-35% throughout the year, as well as corresponding gains on hedging instruments, it said.Trevor Brooks told IPE: “For many, bandwidth to think about pensions is at an all-time low, but it is critically important that sponsors understand how their schemes have performed through the first half of 2020.“Our analysis shows that even some of the largest companies in the UK have pension schemes that are underperforming, and now is the perfect time to assess the damage and implement a plan for a better future.”To read the digital edition of IPE’s latest magazine click here.last_img read more

Read More »

Equal Rights but No Extra Rights says Author

first_imgNZ Catholic.org 31 July 2014World-renowned American neurosurgeon and author Ben Carson called on New Zealanders who believe in traditional marriage to speak up and be courageous — or lose the debate bydefault.Speaking at Family First’s 2014 Forum on the Family, Mr Carson said he believes in equal rights, but not in granting one group “extra rights”.“I don’t think anybody should get extra rights — in other words, the right to redefine an established pillar of society. No one gets to do that,” he said.Mr Carson is reported by American media as a possible presidential contender for the Republican Party. A paediatric neurosurgeon, he was the first to separate twins conjoined at the head.He, along with Family First national director Bob McCroskie, marched with thousands of people in Washington, D.C., to uphold traditional marriage.He said changing the definition for one group would allow other groups to redefine marriage. “I mention a number of situations, including paedophiles and people in bestiality. The point being, if you change the definition for one group, you don’t have any defence against the next group that comes along and wants the change to be made,” he said.Mr Carson likened the proponents of gay marriage to mathematicians who insist that two plus two equals five.“The traditional mathematicians say, ‘No, it’s not. Two plus two equals four. It always has been four, it always will be. The new ones say, ‘No, we insist it’s five’. So, the traditional mathematicians would say for you, it can be ‘five’,” he said. “But we’re keeping it as four. And the new ones say, ‘No, it has to be five for you, too. If it’s not five, then you’re a mathist or a mathephobe’.”He said people who are supporting traditional marriage are accused of being bigots and intolerant. But when he spoke to a prominent member of the homosexual community, that person said there is no room for compromise and that they would take only a full acceptance of gay marriage.“Does that sound like tolerance to you?” he asked.Mr McCroskie said it is important to protect marriage, “because when the marriage rate goes down, society’s ills go up”.He said New Zealand studies show that more children from de facto and broken marriages are victims of violence.“We need to focus on the purpose of marriage and why it works: strong families, strong marriages and strong country,” said Mr McCroskie.http://www.nzcatholic.org.nz/2014/07/31/equal-rights-but-no-extra-rights-says-author/last_img read more

Read More »

Hector John wants more respect

first_img Tweet Sharing is caring! LocalNews Hector John wants more respect by: – May 7, 2011 65 Views   no discussions Sharecenter_img Share Share Opposition leader Hon. Hector John says he continues to be disrespected by certain government officials by not responding to his concerns to better represent his constituency.John says he needs the support from government in order for his roles as opposition leader to be effective.As a parliamentarian and also as a member of the Opposition, the overall respect should come from government in terms of proving that kind of support we need,” he said.John said the Opposition has not received answers to some of the questions asked in Parliament.“I am asking questions on behalf of the people of my constituency and the minister of government should show respect to the people by responding to questions,” he said.Dominica Vibes Newslast_img read more

Read More »

Haiti senator opens fire, injures 2

first_imgCrippling fuel shortages have triggered weeksof anti-government protests, plunging the country into an economic andpolitical crisis.(BBC) Sen. Jean Marie Ralph Féthière (right) opens fire as he left parliament in the capital Port-au-Prince on Monday, wounding two people. HAITI – A Haitian senator opened fire during aprotest outside the country’s parliament building, wounding two peopleincluding a photographer. Sen. Jean Marie Ralph Féthière opened fire ashe left parliament in the capital Port-au-Prince on Monday, claiming he wasdefending himself from protesters.center_img Security guard Leon Leblanc and photographerChery Dieu-Nalio were injured in the incident.    Protesters gathered outside the building asthe Haitian senate met to confirm Fritz-William Michel as the new primeminister.   last_img read more

Read More »

Martha Elsie Baker – Metamora

first_imgMemorial contributions can be directed to Metamora Church of God.  To sign the online guestbook or to leave personal memories please visit www.cookrosenberger.com.  The staff of Cook Rosenberger Funeral Home is honored to care for the family of Martha Baker. Friends may visit with the family on Tuesday, April 16, 2019 from 11 a.m. until 2 p.m. at Metamora Church of God.  Rev. Wayne Ison will officiate the service at the church at 2 p.m. and burial will follow in Cupps Chapel Cemetery. Those surviving who will cherish Martha’s memory include her daughters, Anna Lamb, and Rachel (John) Allen both of Metamora; grandchildren, Mark, Justin, and Damon Baker, Larry and Terry Lamb, Christina Denny, and Donald Hoegeman, Jr.; a sister, Dorothy Thomas of Lexington, KY, and several great grandchildren and great, great-grandchildren.  Besides her parents, she was preceded in death by her husband; son, Raleigh; infant son, Joseph; a brother, George Rust, and two sisters, Betty Smith and Della Abshear.center_img Martha Elsie Baker, of Metamora, was born on June 29, 1927 in Franklin County, a daughter to Raleigh and Margaret Browning Rust.  She married Julius (Pete) Baker and together they raised three children.  Martha enjoyed crocheting, gardening, being outdoors with Pete, and spending time with her family.  She was a member of Metamora Church of God.  On Friday, April 12, 2019 at the age of 91, she passed away at the Waters of Batesville.last_img read more

Read More »

Aliah Bowllan leads defensive performance in straight-set rout of Virginia Tech

first_img Facebook Twitter Google+ Published on November 10, 2019 at 4:56 pm Contact Alex: athamer@syr.edu | @alexhamer8 Midway through the second set, a misplayed service return from Ella Saada flew over her head, away from the net and toward the back wall of the Women’s Building.But before the ball bounced off the wood floor, libero Aliah Bowllan raced out of play to save the point. She used a two-handed bump pass as the crowd cheered Bowllan’s miraculous save. Her pass found setter Elena Karakasi, and SU went on to win the point in an extended rally.Bowllan flew around the court throughout the match, digging balls out wherever she was needed. She sometimes covered the backline all on her own, as the Orange’s outsides hitters pushed forward to exploit a vulnerable Hokies’ defense.“(Bowllan’s) playing through a lot of pain right now, she’s a tough kid and has been battling injuries all season,” assistant coach Derryk Williams said. “So for her to power through like she is and playing at a high level, we’re really happy with what she’s doing.”Despite her lingering right ankle injury, Bowllan led a revitalized Syracuse (10-11, 7-7 Atlantic Coast) defense that thwarted Virginia Tech (9-18, 2-12 Atlantic Coast) in the Orange’s straight-set victory on Sunday. Bowllan averaged six digs per set, compared to her season average of 4.09, and forced the Hokies into eventual attacking errors.AdvertisementThis is placeholder textDuring one three-play sequence in the second set, Bowllan’s defensive skills saved SU points. On the first two plays, Bowllan used her 5-foot-5 inch frame to lay out for one-handed digs, with the ball rebounding off Bowllan’s outstretched left fist to Karakasi who set for kills to Polina Shemanova and Saada, respectively.On the next point, a Virginia Tech attack flew past SU’s middle blockers right toward an unsuspecting Bowllan, who quickly adjusted by squatting down to salvage the long rally, before Saada capped it off with one of her 16 kills. Her last-second adjustment is not only expected, but required.“As a libero that’s kind of your job, and also a lot of that is effort based, so kind of being ready for anything,” Bowllan said. “It’s (like that) with anything, if someone makes a mistake or it’s not the best pass, it’s the hitters job to make the set look good, it’s my job to make the ball stay up.”With its victory today, Syracuse extended its winning streak to five matches, its longest all season. For Bowllan, a big factor in the turnaround has been a new defense system that was implemented six games ago, before a match against North Carolina.In the revamped “setter up” system, Karakasi sits behind the middle blockers. The change also simplifies assignments for the middle blockers, who had become “overwhelmed” in the previous “read and react” defense, Williams said.SU head coach Leonid Yelin said making the switch midseason was a “huge risk,” but Williams explained that the change has helped the Orange’s middle blockers, which in turn benefits Bowllan. Williams said that missed blocking assignments earlier in the season made things too difficult for Bowllan, who often had to guess where the ball would end up due to SU’s frontline inconsistencies.“The more the blockers can take away, the easier her job is, because she has a smaller area to defend,” Williams said. “And then any other balls that are going to the spots that’s she not supposed to be (at) necessarily, she’ll have time to get to because it’ll be an off-speed shot or it’s going to be off the block.”In the third set, Bowllan’s positional instincts in the revamped system helped SU suffocate an already struggling Virginia Tech offense. Even when freshman middle blocker Abby Casiano missed an occasional block, Bowllan was right behind her to keep the ball up. The senior libero was toying was the Hokie offense. On one serve Bowllan feinted a pass, beginning to put her arms up before gracefully sliding underneath the serve as it went out for an SU point.“The better that Aliah (Bowllan) does, the better everyone else does defensively,” Williams said. “They’re the leader of the defense.” Commentslast_img read more

Read More »

Andretti puts 2 cars at the front of Indy 500 qualifying

first_img First Published: 16th August, 2020 10:06 IST Written By Last Updated: 16th August, 2020 10:06 IST Andretti Puts 2 Cars At The Front Of Indy 500 Qualifying Andretti Autosport claimed the top of the speed chart midway through Indianapolis 500 qualifying, with former race winners Ryan Hunter-Reay and Alexander Rossi leading a strong Honda showing LIVE TV SUBSCRIBE TO US Andretti Autosport claimed the top of the speed chart midway through Indianapolis 500 qualifying, with former race winners Ryan Hunter-Reay and Alexander Rossi leading a strong Honda showing.Rossi moved to the top of the board with a four-lap average of 231.268 mph at Indianapolis Motor Speedway. Teammate Hunter-Reay was waiting on pit lane to make his run when Rossi radioed feedback from his four laps.Hunter-Reay made a quick adjustment then bumped Rossi with a qualifying run of 231.330 mph.“We knew we had the speed,” Hunter-Reay said. “Teammates take care of each other and it was great to have the feedback from Alex. We’ve got a bunch of fast race cars.”Rinus VeeKay, a 19-year-old rookie for Ed Carpenter Racing, was in the rare Chevrolet to show much speed. VeeKay sits third and one of only two Chevy drivers inside the top nine.Positions 10 through 33 are determined Saturday, and the fastest nine in the qualifying session advance to a Sunday shootout that sets the first three rows on the starting grid for the Aug. 23 race.The Chevrolet camp struggled Friday when a horsepower boost pushed speeds toward 233 mph. Team Penske is the anchor team of the Chevy group and all four of its cars had a hard time keeping pace with the Honda drivers.The race was originally scheduled for its traditional Memorial Day weekend date but pushed to August because of the pandemic. Teams are not accustomed to these temperatures and the heat has been one of Chevy’s biggest issues.The manufacturer thought it caught a break with reigning series champion Josef Newgarden and former race winner Will Power both drew early qualifying slots, giving them a shot to make their runs during cooler temperatures. In theory, it should have worked, but Newgarden is barely holding onto the ninth and final spot and Power had one of the worst qualifying efforts of his Indianapolis career.The Australian started 23rd in his 2008 debut and could drop lower than that this year. Just like Hunter-Reay, Power had received feedback from teammate Newgarden before his run.“Probably one of my slowest cars ever. It just blows my mind,” Power said. “We ran less downforce than Josef and we were slower. That’s it. I reckon that’s it.”Power said the four-car Penske organization will now focus on race preparation and accept the sub-par starting spots.“Now we can get back to race focus,” Power said. “We are better in race trim, for sure.”Fernando Alonso, also in a Chevrolet, failed to find much speed. The two-time Formula One champion is attempting to close out motorsports’ version of the Triple Crown but his Arrow McLaren SP entry has been behind since Alonso crashed late in Thursday’s practice.Alonso’s qualifying time of 228.768 mph was 12th out of 13 drivers when he made his attempt. Because there are only 33 entries this year, Alonso is not in danger of being bumped out of the race as he was in 2019.“We just wanted to put together a solid run with no drama and put the car in the show,” the Spaniard said. “We were not as quick as we wanted and we had to accept that.”Image credits: AP center_img WATCH US LIVE Associated Press Television News FOLLOW US COMMENTlast_img read more

Read More »

Swiss hold favourites Brazil after Coutinho stunner

first_imgPre-tournament favourites Brazil failed to win their opening game of a World Cup for the first time since 1978 as Switzerland earned a valuable draw in Rostov-on-Don.The five-time champions, so often lauded for their flair, failed to sparkle after Philippe Coutinho’s superbly curled opener on 20 minutes.Tite’s side – with Gabriel Jesus and Willian alongside Neymar in a front three – could offer only fleeting moments of fluid play and Steven Zuber’s header from a corner earned the Swiss a deserved point.Brazil may point to a push by Zuber to free him from his marker but the fact Coutinho’s strike remained their only effort on target until 77 minutes points to their struggles in the final third.The draw brings to an end Brazil’s run of nine wins in opening World Cup fixtures, and both sides now trail Group E leaders Serbia, who beat Costa Rica earlier on Sunday.last_img read more

Read More »

Luke Walton upset Lakers “weren’t ready to fight” in loss to Rockets

first_imgAfter missing the past two games with a right knee contusion, Lakers reserve forward Larry Nance Jr. played against the Rockets. Lakers forward Tarik Black missed Wednesday’s game with a sprained right ankle, though he could return on Friday.And yet …“We’ve lost some games we should’ve won,” said Lakers reserve guard Lou Williams, who had a team-leading 26 points albeit six turnovers. “You can try to find some fake encouragement somewhere. But the reality is we just have to compete hard and give ourselves a better chance to win.”The issues went beyond Houston fielding a high-octane offense with Eric Gordon (26 points), James Harden (25 points), Ryan Anderson (12), Clint Capela (12), Sam Dekker (12), Trevor Ariza (11) and Patrick Beverly (10). The Lakers also conceded a season-high 43 points in the first quarter. After Williams nailed a 66-foot heave to cut Houston’s lead to 67-55 at halftime, the Rockets simply outscored Lakers, 39-22. The Lakers blamed plenty of those issues on defensive communication for different reasons. Lakers rookie forward Brandon Ingram admitted his struggles in becoming more vocal while assuming a stoic personality. Clarkson noted the team’s endless switching causing confusion. Randle believed the team’s fatigue has derailed the team’s communication. Walton maintained he needs to watch film and deliberate before determining if another lineup switch will solve those problems. But for now …“We have to be able to change our mindset,” Walton said, “and not give into those excuses.” Walton then listed off some of those little things the Lakers did not do. Despite emphasizing the concept since training camp, the Lakers struggled on transition defense by allowing 34 fast-break points. The Lakers also committed 28 turnovers, which led to 42 points. It appears, however, that the Lakers have just waited for their roster to become healthy. “I think we’re using it as an excuse,” said Lakers forward Julius Randle, who logged his seventh double-double of the season with 21 points and 10 rebounds. “I don’t know what we’re doing, but we’re not being ourselves and we’re not playing the right way. We’re not playing with the energy and not trusting each other on the defensive end.” The good news for the Lakers: they might not have to wait much longer before players return to health.Russell is expected to practice Thursday after being sidelined the last two weeks with a sore left knee. The Lakers do not expect him to play in home games against Phoenix (Friday) and New York (Sunday), but he could return as early as Monday in Sacramento. Young has targeted the same date for his return after sitting out the last week with a strained calf muscle in his right leg. The Lakers stress both players’ progress hinges on how well they handle their increased workload. Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img HOUSTON >> The irritated tone in Luke Walton’s voice sounded louder with each word he spoke.The Lakers suffered a 134-95 loss to the Houston Rockets on Wednesday at Toyota Center in what marked one of their worst defensive performances. The Lakers (10-14) dropped their fourth consecutive game as they nursed prolonged absences to D’Angelo Russell, Nick Young and Jose Calderon. Walton used his ninth starting lineup combination with Marcelo Huertas (10 points, seven assists, six turnovers) and Jordan Clarkson (seven points on 3-of-13 shooting) manning the backcourt, an experiment that did not solve the team’s issues with slow starts. But after Walton bemoaned the Lakers “weren’t ready to fight” and “mentally locked in,” the Lakers coach strongly shot down any theory how much their depleted lineup contributed to their woes.“We can’t have that mindset. We don’t need help,” Walton said. “Obviously we’re missing key players and you’re going to lose games. But if we’re sitting around as a team (thinking), ‘Hey let’s wait for Nick and D’Angelo and this guy and that guy to get back,’ what kind of mindset is that? You come out and you play hard. You at least do the little things.”last_img read more

Read More »

Champions draw Worcestershire in men’s county finals

first_img Reigning champions Wiltshire will face Worcestershire on the opening day of the English Men’s County Championship finals taking place at Beau Desert Golf Club in Staffordshire on 28th – 30th September. Wiltshire won the title at Ganton last year at the third time of asking, having qualified three times in five years only to miss the title at Cleveland in 2007 and at Chipping Sodbury in 2009. In the other match Lancashire will meet Suffolk following the draw made by Paul Baxter, Joint President of England Golf, during the English Amateur Championship supported by abacus at Silloth-on-Solway. In the draw for the English Boys County Championship finals being played at Cotswold Hills in Gloucestershire on 28th – 30th August, Devon will play Staffordshire on day one while Hampshire, Isle of Wight and Channel Islands meet Yorkshire. Having deposed four-time national champions Kent as south east winners, Hertfordshire will meet Gloucestershire on the opening day of the English Seniors County Championship Finals at Haworth Golf Club in County Durham on 9th – 11th October. In the other match, the Northern winners will play the Midlands champions, both of whose qualifying events have yet to be played. Image of winning 2011 Men’s Wiltshire team copyright Tom Ward Photography. 3 Aug 2012 Champions draw Worcestershire in men’s county finals last_img read more

Read More »