Switzerland’s AHV drops soft commodities due to ‘political sensitivity’

first_imgThe AHV manages its commodity exposure in-house, tracking the Bloomberg Commodity Index via swaps.Under the new strategy, which allows commodity investments in energy and precious metals only, “the index will have to be changed”, the scheme said.The fund has also decided to manage government bonds in US dollars in-house to cut asset-management costs.The AHV said it expected to save “more than half a million Swiss francs” with the measure.Further, the pension fund decided to define a separate allocation for less liquid investments “to increase transparency in reporting”.Strategic investment in real estate was increased from 6% to 7%, while the AHV said it would start to build indirect exposure to foreign real estate via funds “step by step”.To date, the fund has invested 26% of its real estate portfolio in foreign real estate, mainly Asia and North America, using listed vehicles; the remainder comprises domestic direct and indirect investments.A similar step to invest in foreign property had been considered more than a year ago, when the AHV looked into a Europe-only real estate fund. To make the portfolio “more resilient” to market corrections, hedging tools were expanded to include a tail-risk hedging vehicle, which the fund developed internally and will be implemented in the coming months.Further, it introduced an operational risk report to provide the managing board with additional information beyond the existing compliance report.Last year, the AHV’s portfolio would have returned 10.36%, but equity overlays, as well as interest rate and foreign currency hedges, lowered the reported return to 7.1%.However, after the Swiss National Bank cut the peg of the Swiss franc to the euro on 15 January this year, the AHV noted its foreign-currency hedging prevented a CHF1bn loss. Switzerland’s CHF33bn (€27bn) first-pillar fund AHV has decided against investing in agricultural commodities in future, according to its 2014 annual report.It said it based its “new concept” for commodity investments on “political sensitivity” to investments in food, agriculture and livestock.In 2014, commodity holdings were the only part of AHV’s portfolio to register a loss, returning -8.2%.For the year previous, the asset class returned -9.85%.last_img read more

C-NS’s Putman breaks third school record at Utica College meet

first_imgMeanwhile, Blaisdell went 16’8 1/4″ to finish second in the long jump, with Julianna Hutt (16’3 1/2″) in fifth place as Blaisdell also going 37′ 1/2″ for second place in the triple jump.Putman paired with Allison Newton, Hannah Boyle and McKenna Slate for second place in the 4×400 relay in 4:08.55 behind Shenendehowa’s meet-record 4:06.33. Boyle also was sixth in the 300-meter dash in 43.23 seconds.Schulz, in 1:39.77, beat out Boyle (1:40.07) and Putman (1:41.03) for second place in the 600-meter run. Liverpool also was fifth in the 4×800 relay in 10:21.87 as Sydney Carlson was sixth in the 1,000-meter run.Meanwhile, in the boys CNY “Higher, Farther, Faster” meet, C-NS had 39 points for fourth place and Liverpool was 12th with 22 points.R.J. Davis nearly won the 1,000 for C-NS, his time of 2:37.77 just behind the 2:37.56 from Shaker’s Francisco Mendonca. Sam Nessel went 36.92 seconds in the 300 to finish third as the Northstars were third in the sprint medley relay in 3:58.15.Isaiah Wright rose to third place in the 55 hurdles in 8.10 seconds as Carlton Garnes (8.29) was fifth. Matt LeClair was eighth in the 1,600-meter run as Wright was seventh in the long jump and Garnes seventh in the triple jump.Liverpool had its best finish in the 3,200-meter run, where Jake McGowan, finishing in 9:51.75, trailed only the 9:50.06 from Baldwinsville’s Colin Delaney as C-NS’s Zach Bergman was sixth in the unseeded race.Bennett Robb clear 6 feet in the high jump for fourth place, with Jalen Graham fifth in the weight throw by going 50’11”. C-NS was sixth in the 4×400 as Liverpool also was sixth in the 4×800 and eighth in the 4×200 relay.Share this:FacebookTwitterLinkedInRedditComment on this Story All told, C-NS finished second in the girls team standings with 64 points, just ahead of Liverpool in third place with 59 points as Shenendehowa (103.5 points) claimed the top spot.The Warriors featured Amina Sinclair winning the high jump by clearing 5 feet 4 inches, with C-NS’s Lilly Capria sixth at 4’10” as Kali Hayes won the 55-meter hurdles in 8.81 seconds, just ahead of the 9.12 from the Northstars’ Brooke Blaisdell.Imahni Sinclair prevailed in the weight throw, heaving it 46’3″, more than five feet ahead of the field as she also got seventh place in the shot put, going 33’10 1/4″. Tags: C-NSindoor trackliverpoolcenter_img Though only a ninth-grader, Cicero-North Syracuse’s Kate Putman already occupies a large place in the girls indoor track and field program’s record books with school marks in 500 and 600-meter events.And Putman added to that legacy with a superb performance at 3,000 meters last Friday in the Central New York “Higher, Farther Faster” Invitational at Utica College’s Hutton Dome, nearly catching Liverpool superstar Jenna Schulz.With her time of nine minutes, 54.35 seconds, Putman shattered Maria LaMontagne’s nine-year-old school mark of 10:06.87 by more than 12 seconds, and was second overall, less than three seconds behind Schulz’s winning 9:51.78.last_img read more