The decline of the value of fixed assets led the WTW pension index to drop below 100% for the second time in three years, according to the consultancy. The negative investment return in the first quarter largely offset the excellent investment performance developments in 2019.WTW’s pension fund index gives an indication of how the general funding position under International Accounting Standard 19 has changed from quarter to quarter.Valentine said Swiss schemes were well diversified compared with other countries, with their relatively low equity exposure that provides a degree of downside protection.Pension funds were likely to have to revisit their ALM studies due to the coronavirus crisis, with its financial impact and uncertainties, changing the perception of future risks and how to manage them: “In the light of these changes, it will be necessary to revisit the assumptions underlying a pension scheme’s existing investment strategy,” said Valentine.WTW estimates that the wholesale closure of businesses will result in an immediate drop in real GDP in the US and Europe of 10-13% by the end of June, more than double that the fall recorded during the crisis in 2008/9, which stood at around 5%.Valentine added: “To simplify greatly, asset risk premia are higher and risk-free rates are lower and this has implications for investment strategy.”WTW recommended that pension funds have a long-term investment view by diversifying exposure to risk premia.“The current crisis poses potential shorter-term challenges relating, for example, to rebalancing and meeting immediate liquidity requirements,” said Valentin, adding that for this reason, engaging in efforts to “call the market” was not advisable. The funding level of Swiss corporate pensions schemes dropped seven percentage points in the first quarter of this year to 98%, compared with 105% at the end of last year, according to Willis Towers Watson’s latest pension index for the country.“This was a less severe drop than an asset-only view would have produced, thanks to a compensatory pick-up in corporate bond yields used to value the liabilities,” Michael Valentine, investment consultant at Willis Towers Watson Switzerland, told IPE.Swiss pension funds had a solid starting position earlier this year, but successive fluctuations in the market meant a loss of around 75% of the return on assets generated in the previous year, according to WTW’s Swiss pensions finance update.The COVID-19 crisis had negative effects on the pension positions on Swiss companies’ balance sheets.
Syracuse (1-1, 0-1 Atlantic Coast) takes on South Florida (2-0, 1-0 American Athletic) in the Carrier Dome at 3:30 p.m. on Saturday. Check out how our beat writers see the matchup unfolding.Chris Libonati (2-0)South Florida 56, Syracuse 42Buck offSyracuse is grabbing life by the horns, but it’s getting bucked. After taking its opening game against Colgate, 33-7, the Orange looked poor overall against ranked Louisville. Syracuse’s offense takes another step forward, but its defense proves to be costly again. If you’re betting a Syracuse game this year, though, take the over. That’s a good bet.Jon Mettus (2-0)South Florida 58, Syracuse 38Tampa bluesUSF quarterback Quinton Flowers isn’t quite Heisman-hopeful Lamar Jackson, who stormed into and through the Carrier Dome a week ago. But this game won’t be much better than the Louisville blowout. Flowers and running back Marlon Mack will have their way with SU’s depleted defense. Syracuse’s offense will have more success, especially in the running game, but the Orange won’t be able to keep up.AdvertisementThis is placeholder text Comments Published on September 16, 2016 at 12:47 am Facebook Twitter Google+
“I was feeling it from the first minute,” he said. “I’ve said it before — you feel great for 10 games, then you feel OK for 10 games, and then the rest you feel like shit.“You know, we’ve got to do what we’ve got to do. We’ve only got 15 or 16 players available at the moment so we need to get through it.”Injuries to Benjamin Mendy, Gabriel Jesus, Leroy Sane, John Stones, David Silva, Fabian Delph, Phil Foden and Lukas Nmecha restricted City boss Guardiola to just six substitutes at Turf Moor.The runaway Premier League leaders are not in action again until Leicester City visit the Etihad Stadium on Saturday — their longest gap between games since the November international break — and Guardiola has decided to give his entire squad three days off.“It will do us a lot of good,” said De Bruyne. “I’m going away, it doesn’t matter where.”City should have claimed all three points at the weekend after dominating the match.Danilo gave them a first-half lead but they were unable to add to it, with Raheem Sterling spurning a gilt-edged chance from close range before Johann Berg Gudmundsson claimed a late equaliser.“Nobody is complaining about the way we played,” said De Bruyne. “I think we played really well and we should have scored more but it happens and it’s not even bad defending, it’s just the way it goes sometimes.“Obviously it’s very hard and we haven’t got any players left, so maybe we feel a little bit of tiredness which makes it a little bit more difficult but I thought the way we played was exceptional.”0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Kevin De Bruyne at the end of Manchester City’s 1-1 draw at Burnley on Saturday © AFP/File / Oli SCARFFLONDON, United Kingdom, Feb 5 – Kevin De Bruyne admits he is struggling physically as Pep Guardiola’s Manchester City chase glory on four fronts, hampered by a series of injuries to big-name players.The midfielder has missed only three of City’s 39 games in all competitions and says he was feeling tired during Saturday’s 1-1 draw at Burnley.