The so-called ‘middle way’ for the new Dutch pensions contract being hammered out by the government will have little impact on pension funds’ asset allocation, according to investment experts.A large majority of investment professionals attending a conference held by IPE sister publication IP Nederland said the new hybrid contract would not lead to a more “aggressive” investment policy, even if pension funds are given more options for smoothing out rights cuts, as is expected.Hans de Ruiter, head of investments at the €5bn pension fund of technical research institute TNO and a member of an IP Nederland discussion panel, said: “The new pensions contract is not meant to increase investment risks.”Hedwig Peters, professional pension fund board member and also on the panel, fully shared his opinion, pointing out that “current legislation would still apply”. Also during the conference, the audience showed no clear preference for the recently proposed new discount rate, which consists of an ultimate forward rate (UFR) of the average 20-year interest rate over the previous 10 years.The new criterion is to replace the current discount rate of the three-month average of the forward curve as of 2015, when the new financial assessment framework (FTK) is scheduled to come into force.Gerard Roelofs, head of investments for Continental Europe at Towers Watson, said: “The impact is not very different from the current discount rate.”However, the expert panel was very pleased the three-month average would disappear from the discount criterion.Both Peters and De Ruiter noticed that no financial instruments existed to hedge the interest risk on liabilities based on the UFR.Therefore, pension funds should not adjust their current interest-matching policy because of the new discount rate, Peters argued.Almost the entire audience agreed with her that market valuation of liabilities should be the guiding principle for pension funds’ investment policy.A large majority of the audience also said they did not expect a hybrid pensions contract to lead to an increase of inflation-linked products in their investment portfolios.
Believe it or not, we have reached Opening Day 2017. Except for the game played last night, everyone else can still believe they are going to win them all. The Cincinnati Reds should be better than last year. At least we in Southeastern Indiana hope this is true.WRBI will be your station for Reds baseball again in 2017. Be sure to hang around after the game tonight for Coaches Corner. Yours truly will interview his guests as usual and you will hear that broadcast as soon as the opener is completed. Enjoy both!
Share Peter Mares: Going Native… How Playtech is helping the industry stay ahead of the Apple curb August 6, 2019 Share Related Articles The Motorsport Network has unveiled what it hopes will add a completely new dimension to the motor racing fan experience, with the launch of its fresh Pit Stop Betting business.Through the launch of its app across both the App Store and Google Play, Pit Stop Betting states a goal of redefining the sport for its fans via a unique and tailored approach.One such example of this is through the offering of a variety of event-by-event betting cards, providing a constant array of opportunities to speculate on numerous motorsport event outcomes.This is added to by appealing payout terms, an engaging user interface and an all round emphases on user engagement, entertainment and rewards. Simon Vumbaca, Pit Stop Betting’s co-founder, commented: “In conceiving our new products, Pit Stop Betting’s first and fundamental consideration is that motorsport fans are distinct from broader sports fans.“We have designed the app to reflect motor racing with fast and clear outcomes and the unique characteristics of individual events. That’s why we’ve created something that is simple to use, puts the emphasis on the inherent fun of motor racing and provides rewarding entertainment in a responsible way.”At launch Pit Stop Betting will offer cards across ten motorsport series’, in circuit racing on two and four wheels in addition to rally and rallycross, with further expansion drives planned in the near future.Amongst the plans are aims to offer more motorsport categories, branching into different jurisdictions and creating “revolutionary new betting formats” that could appeal across a number of sports in general.Zak Brown, Motorsport Network’s Chairman, added: “The Pit Stop Betting app adds another dimension to our portfolio of products and services for the motorsport fan.“But more importantly, this radical new app with its focus on ‘rewarding entertainment’ will set new standards not just for motorsport, but I believe more broadly for sports betting in general with its refreshingly fun and demystified approach to betting.” Submit Apple delays igaming ‘Native iOS’ enforcement March 31, 2020 Sue Yoxall: Keeping up to date with technology advancement August 2, 2019 StumbleUpon