“The transition from one stage to the next will take place when there has been no significant increase in COVID-19 cases,” the government said.”Sufficient time must elapse between each stage to allow the effects of the relaxation to be observed. The criteria are the number of new infections, hospital admissions and deaths, and hospital occupancy rates.”Switzerland has shuttered schools, non-essential shops and many businesses for a month as it sought to halt the epidemic’s spread. It has also extended billions in financial assistance to businesses and eased bankruptcy rules, to prevent companies from going under.Europe should move with extreme caution when considering easing lockdowns, the World Health Organization’s regional director said on Thursday. Topics : The Swiss government will start a gradual relaxation of restrictions brought in to tackle spread of the new coronavirus from April 27, it said on Thursday.Doctors, hairdressers, massage and cosmetics parlors will be the first businesses to be allowed to reopen, it said. This will be followed by compulsory schools, shops and markets from May 11, it added.In a third stage it will reopen secondary schools, vocational schools and universities from June 8. The government also foresees allowing an existing ban of meetings of more than five people to be relaxed, although the details of this stage will be announced at the end of May. The COVID-19 outbreak has so far claimed 973 lives in Switzerland, although the rate of positive tests has slowed in recent days.Neighboring Austria has already announced a partial exit from its own lockdown, while Germany has announced its own small steps out of the lockdown.
At the end of December, total assets under management for the occupational pensions sector stood at €35.4bn, a reduction of 0.3% over the past year. The number of participants in the occupational system remained stable at just over 2m.For Spanish pension funds as a whole, the continuing shift away from domestic assets accelerated towards the year-end: they formed 57.2% of portfolios at end-December 2016, compared with 62.5% at end-September.Non-domestic holdings grew from 22.8% at end-September 2016 to 26.3% three months later.There was a similar shift from fixed income to equities during the final quarter of the year, although a large factor was the relative outperformance of equities over the period.Fixed income investments made up 54.3% of portfolios at the end of the year, down 3.3 percentage points since end-September. This compares with 27.2% invested in equities, an increase of 3.5 percentage points over September.Of this, 9.6% is in Spanish shares, with 17.6% in non-domestic shares.However, the biggest single component of pension fund portfolios – 29.4% – is still invested in Spanish government bonds, with a further 16.2% in dometic corporate bonds.David Cienfuegos, head of investment for Spain at Willis Towers Watson, said: “Clearly the trend is towards lower returns, and given the current state of the global economy, we believe it will be lower for longer.” He said the best-performing assets during 2016 for the firm’s Spanish pension fund clients had been the more illiquid ones such as private equity, infrastructure, and private debt. Clients using larger managers with global exposure also saw a boost to returns.Cienfuegos added: “More traditional asset classes had a difficult year, and in equities there were concerns about China’s slowdown, although the rally in the last few weeks of 2016 helped performance.”According to Cienfuegos, there is now a divide within Spanish occupational pension funds between those that have stayed within traditional asset classes, and those that have diversified into assets such as alternative credit and private markets.“We are now starting to see divergences in performance,” he said. “Those funds – generally the larger ones – who have done their homework and are diversifying into alternatives had returns around 4-5% in 2016, rather than the industry average of 2.7%.”Cienfuegos said that one of the main concerns in terms of risk management for his firm’s clients was currency exposure within global mandates, especially in US dollars.He said: “The cost of hedging has increased dramatically because of the divergence between US dollar and euro interest rates, with the difference of about 1.5% on any US dollar exposure.”Cienfuegos said large pension funds are now reviewing their currency hedging policies and considering how they can hedge without the increased cost.Meanwhile, preliminary estimates from Mercer’s Pension Investment Performance Service (PIPS) gave a more upbeat picture of performance, with a 3.6% investment return for Spanish pension funds over the 2016 calendar year.The PIPS covers a large sample of pension funds, most of them occupational schemes.Over the calendar year, within the sample universe equities outperformed fixed income by a wide margin. Non-euro-zone equities did best with a return of 14%, while euro-zone equities made 4.1%. Fixed income returned 2.8%.However, the month of December had seen an upsurge in euro-zone performance, with a 7.9% return for euro-zone equities, compared with 2.2% for non-euro-zone equities. Spain’s occupational pension funds made average returns of 2.74% over the 2016 calendar year, according to the country’s Investment and Pension Fund Association (INVERCO).This compares with a 3.48% return for the 12 months to end-September, and is also lower than the 2.88% for calendar 2015.However, INVERCO pointed out that this performance was achieved in spite of the periods of uncertainty that dominated the markets throughout the year. Equities performed well towards the end of 2016, the association added.Average annualised returns for Spanish occupational funds were 4.28% for the three years to 31 December 2016, and 5.76% for the five years to that date.
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Top Reasons to Go With Managed WordPress Hosting Tags:#start#startups dana oshiro Related Posts A Web Developer’s New Best Friend is the AI Wai… After tech heavy hitters like Jason Calacanis, Robert Scoble and Fred Wilson expressed public outrage over its pay-to-play fees, the Keiretsu Forum has begun waiving fees for early-stage startup presentations. According to PeHUB’s Deborah Gage, the network is asking its chapters to disregard presentation charges for companies with less than $500,000 in capital and for those trying to raise less than $500,000 from investors. In early October ReadWriteWeb covered the uproar Jason Calacanis caused when he spoke out against pay-to-pitch VC presentations. Said Calacanis, “It’s low-class, inappropriate and predatory for a rich person to ask an entrepreneur to PAY THEM for 15 minutes of their time.”Since then the vocal entrepreneur/investor has been publicly outing organizations with pay-to-play presentation models. Recently he called on startup companies to boycott events like New York’s Venture Summit and AlwaysOn’s Venture Summit Silicon Valley. Both events charge startups as presentation sponsors before they can demo to attendees. To counter these events, Calacanis even promised to “launch competing, fee-free events directly opposite [these pay-to-play] events.”Meanwhile, Keiretsu Forum user Steve Bell points to demo costs on Calacanis’ TechCrunch 50 floor as an example of the same pay-to-pitch tactics that the entrepreneur is rallying against. Having looked at the argument, we’re unsure whether these fees can be classified as presentation fees or merely sponsorships. Perhaps this is where the ethical lines become really blurry: Because most tech events offset the cost of production with sponsorships, at what point do we draw the line between sponsor presentations and pay-to-pitch demos? Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Market
Mechanical ND FiltersOne feature I never enjoyed on the C100 line was the manual ND filter tray. The previous knob always felt a little flimsy and wasn’t the smoothest way to switch between ND filters. However, Canon has improved this with the Canon C200. Now, it features the same mechanical ND filter as its big brother the C300. To me, this takes the camera up a notch in terms of professionalism. The NDs feature ten stops of density, allowing it to shoot in the harshest conditions while still utilizing a shallow depth of fieldImproved Screen and EVFThe Canon C200’s new monitor features a new touchscreen option to access the camera’s advanced auto focus features. You can now touch the screen and select the subject you want the camera to focus on. If you had a chance to use the Canon C300 Mark II, you know how powerful these focusing tools can be.Canon has also announced the EVF-V70, an EVF option about which we know little at the moment.Updated BatteriesCanon has updated the batteries of the C200 to the same line of batteries as the C300 Mark II. I would assume this is to support the 4K recording and RAW capabilities. This means that all current C100 owners will have to upgrade all their batteries to the new line.Form FactorCanon has increased the footprint size of the C200 to fit almost right in between the C300 Mark II and the C100 Mark II. The camera stripped down is slightly heavier than its predecessor. The camera comes in at 1.4kg while the C100 Mark II sits at 1.1 kg.Key FeaturesInternal 4K (up to 4096×2160) recording with Cinema RAW Light or MP4 formatContinuous 120fps (maximum) high frame rate with no crop at full HD15 stops dynamic range (with Cinema RAW Light)Dual Pixel CMOS AF with touch control and manual assist functionsDual DIGIC DV6 image processorNew touch screen monitorOptional EVF10 stops of ND densityAvailable July 2017$7,499 fully equipped ($5,999 body only)The Canon C200 is poised to become the perfect companion to its big brother, the Canon C300 Mark II. However, as a C300 Mark II owner, for me, this camera has many features that I wish my C300 Mark II had. It will be interesting to see how this camera starts to fit into the Canon Cinema line and what future improvements we will see.What are your thoughts about the C200? Let us know in the comments below. Specs for the new Canon C200 are out, and they’re impressive!Canon has just released information about its newest addition the their cinema line, the C200. This camera offers some exciting new features and is the first time Canon will offer a 4K RAW internal recording capability. This is a huge level-up in specs for the camera manufacturer.4K and RAW CapabilitiesOne of the most surprising features about this camera is its RAW recording capabilities. Canon calls this recording format “Cinema RAW Light.” It utilizes a smaller file size than traditional RAW recording, allowing you to record onto CFast 2.0 cards. These RAW recording capabilities will record fifteen minutes of footage onto a 128GB Cast 2.0 card. This RAW recording option features a 12-bit color space at 24p/25p and also offers a simultaneous proxy recording, while offering an impressive fifteen stops of dynamic range.Finally, Canon has introduced a 4K recording capability to their entry-level cinema camera. The C200 boasts 4K recording at 150 mb per second. This provides a higher 4K data recording format than its main competitor, the Sony FS5. Another exciting feature is that this camera features 120fps high-speed recording at 1080p, allowing you to capture that super smooth slow motion.