Irish pension fund liabilities rise 15%, offsetting 9% asset growth

first_imgPension funds in Ireland saw their assets rise by 9% on average in the first half of this year on the back of bond price rises, but liability values rose by around 15%, according to consultancy Mercer. Sean O’Donovan, head of DB risk at the firm, said: “Global equities saw strong growth over the period.  “The majority of outperformance can also be attributed to falls in bond yields, which have seen fixed income assets increase in value by more than 10%.”However, the same market dynamic expanded pension fund liabilities. Because falls in government bond yields were echoed by corporate bonds – which companies refer to when valuing pension liabilities – pension fund liabilities rose by around 15% in the six months to the end of June, Mercer said.It said this had more than offset the gains made on scheme assets, with accounting deficits climbing to €7.6bn from €5.4bn.In 2013, deficits narrowed by €1.8bn.Mercer said employers and trustees wanted to capitalise on the big recovery in equity markets, but the problem was where to invest these assets, with bond yields now at historic lows.“More and more clients are looking for a half-way house between equities and long-dated bonds to capture equity gains until such time as bond yields hopefully increase”, O’Donovan said.last_img read more

Moyne to face Sars in Intermediate Final

first_imgThurles Sarsfields beat St. Marys by 1-13 to 0-12 at Leahy Park, while in Templemore Moyne/Templetuohy enjoyed a 1-12 to 0-10 victory over Clonakenny.In the County Junior A Hurling Final at Leahy Park Skeheenarinky beat Nenagh Éire Óg by 1-13 to 1-09.In today’s other games; County Junior B Hurling Semi-Final Result: Boherlahan-Dualla  0-11  Killenaule  1-10 West Junior B Football Final in Golden: Éire Óg Anacarty/Donohill  1-09  Galtee Rovers/St. Pecaun  0-07last_img

WATCH: Blues’ Robert Bortuzzo, Zach Sanford fight at practice

first_imgThe turmoil in St. Louis continues. Following a 6-1 loss to the Vancouver Canucks on Sunday, frustration carried into Blues practice on Monday as defenseman Robert Bortuzzo and forward Zach Sanford dropped the gloves.  MORE: Canucks’ Elias Pettersson’s dynamic rookie season continues with another NHL awardAs for the players involved, Bortuzzo has one goal and two points along with a -5 plus/minus in 10 games this season. Sanford has played a bit better as he has four goals and nine points with +2 plus/minus in 23 games this season.Can the fight get St. Louis out of its funk? The Blues host the Florida Panthers on Tuesday and play two more games on their homestand before hitting the road. Robert Bortuzzo and Zach Sanford dropped the gloves at #STLBlues practice today.(via @Avery_188)— Sporting News Canada (@sportingnewsca) December 10, 2018What caused the fight is unclear, but the St. Louis’ performance this season certainly can’t help to ease tension.The Blues have the third-lowest point total in the league with 24 points, which is just one point more than the last-place Los Angeles Kings and Chicago Blackhawks. Since Craig Berube replaced Mike Yeo on Nov. 19, the Blues are 3-5-1 with a minus-14 goal differential during that span. last_img read more

Gatehouse Capital executive says Texas company glad to be back as part of Mason City downtown project

first_imgMASON CITY — An executive of the company chosen to develop the hotel and conference center that’s part of the River City Renaissance project says they’re glad to be back as part of the project.Gatehouse Capital based in Dallas Texas had initially negotiated an agreement with the City of Mason City to develop the hotel in the eastern portion of the parking lot at Southbridge Mall, but the City Council in November 2017 decided to go with another developer that eventually defaulted on the project.Gatehouse vice president Colin McDonald says while there was a great deal of city-level debate about the project, they are ready to start the first steps in moving towards construction.  “We firmly believe in the economics of the project. We believe in the opportunity. We really like the people of Mason City. I think they’re a great group of people and I think it’s going to be a wonderful partnership moving forward. I think the first hard part is over, now the next hard part is we’ve got a project to deliver and we will we will be delivering it.”McDonald says although it’s a smaller hotel than what they might typically construct, it’s part of what he feels is a very complex project. “It has moving parts with the conference center and the access and connectivity with the Music Man Square, and our relationship with Music Man Square makes this a very unique opportunity for a hospitality product.”McDonald says Gatehouse has several platforms in working with communities to develop hotel and conference facilities. He says they understand the catalytic nature of these projects. “We know what these projects entail.”McDonald says his company is seeing more communities of Mason City’s size try to do projects that involve hotels and conference centers.  “There is a lot of, if you will, case work that shows the economic impact,  and for forward-thinking cities that have a more of an entrepreneurial flair that realize that you need to go one of two ways, you can invest in your community and support activity. or you can sit by and hope. I think there are any number of communities that have relied on hope, and it’s a competitive marketplace. It’s competitive for the skills to bring those projects together.”McDonald was in Mason City last week as part of a site visit with city officials after the City Council at their July 23rd meeting approved a development agreement for the $24 million, 106-room hotel and convention center that fulfills the private investment requirement of the Iowa Reinvestment Act project.last_img read more

Bala Devi Pumps in 10 Goals as Manipur, Odisha Reach Senior Women’s Nationals Semis

first_img Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time. arunachal pradeshBala DeviDaya Devifootball First Published: September 20, 2019, 6:13 PM IST New Delhi: Ngangom Bala Devi was in an ominous form for Manipur as they reached the semi-finals of Senior Women’s National Championships in emphatic fashion on Friday. Manipur was joined in the semi-final line-up by Odisha later in the day.Railways and Tamil Nadu had advanced to the semi-finals on Thursday with a 12-0 win over Himachal Pradesh and a 4-2 win over Madhya Pradesh, respectively. On Thursday, Yumnam Kamala Devi was the star of the day with six goals. Manipur thrashed Jharkhand 15-2 while Odisha beats the hosts Arunachal Pradesh 5-0 in the quarter-finals at the CHF stadium in Pasighat.In the first match of the day, Bala took it upon herself to charge Manipur into the semi-finals as she found the back of the net thrice inside the first 30 minutes of the match.Bala, who had scored six goals in three matches ahead of the quarter-final, added 10 more (8′, 16′, 26′, 31′, 33′, 35′, 47′, 52′, 77′, 84′) to take her tournament tally to 19 goals.While Manipur took a 2-1 lead inside the first 20 minutes, Jharkhand found one back in the 21st minute through Neel Kushum Lakra. However, it was meant to be a ‘Bala day’, as she scored three goals in a space of five minutes after the half an hour mark.If Bala was leading Manipur right from the start, she was ably supported by Irom Prameshwori Devi (17′) and Heigrujam Daya Devi (36′, 38′) as Manipur went into the break with a 9-1 lead.The story did not change after the break Bala and Daya (48′) combined to score three goals within seven minutes of the second half.Daya grabbed her fourth goal in the 77th minute after which Bala found the back of the net two more times. In the middle of all of this carnage on one side, Sagita Kumari scored Jharkhand’s second goal in the 82nd minute.For Odisha, Deepa Nayak scored a brace while Runi Nayak, Jasoda Munda and Sumitra Xalxo were the other scorers as they advanced to the last four.It was Deepa who opened the scoring for Odisha in the 16th minute and it took them the 34th minute to get their second through Runi.Jasoda found the third for Odisha in the first minute of the stoppage time of the first half as Odisha led 3-0 at half time.Sumitra, who came on as substitute in the 46th minute, found the back of the net in 71st minute and Deepa scored her second in the 74th minute to ease Odisha to victory.While Manipur’s victory was witnessed by 2000 people, Odisha vs Jharkhand was attended by 7000 spectators.SEMI-FINAL LINE-UP:Match 1: Railways vs Odisha (09.30AM)Match 2: Tamil Nadu vs Manipur (2.00PM) last_img read more