Turkey’s Garanti Pension to launch commodity, global equity funds

first_imgGaranti Pension and Life, the largest pension insurance company in Turkey in terms of the number of pension savers, is planning to launch new funds investing in commodities and international equities.Cemal Onaran, managing director at the TRY4.6bn (€1.3bn) firm, told IPE the new funds would be launched within the next four years.“Our foreign stock market investment fund will most likely invest in both developed markets such as the US and Germany, as well as in emerging markets like Brazil, China and Russia,” he said.“This will respond to the need for alternative investment vehicles, provide tool for diversification away from the domestic risks and vulnerabilities.” Most pension fund assets in Turkey are at present invested in T-bills and Turkish government bonds (59.83%), which lost 0.32% last year.The remainder of pension portfolios are invested in other investment vehicles (17.97%), stocks (12.87%), reverse repos (7.08%), foreign securities (1.24%) and money markets (1.01%), according to Turkey’s financial regulator (SPK).Turkish private pension investments pulled in an average total return of -0.76% last year.Onaran believes that, although Turkish investors still strongly prefer fixed income investments, equities will be the most rewarding instrument for pension funds in the long term.Garanti Pension has some 813,000 customers at present.“Until 2008,” Onaran said, “interest rates in Turkey were quite high, at around 25%, so the optimal strategy was to invest in money market or government bond funds.“From 2008 on, however, interest rates fell down to 7-8%, and investors started to demand higher returns.“This, as well as growing knowledge and experience on financial markets, is increasing interest in alternative investment vehicles such as foreign equity funds.”Garanti Pension is also planning to grow its overall exposure to equities, where it currently has some 13.5% of its assets.In addition, some 68.8% of Garanti Pension’s assets are invested in local fixed income, 9.8% in reverse repos and 7.9% in time deposits, foreign exchange fixed income instruments and commodities.“Already now, we allocate more funds to equities than the average firm in the market,” Onaran said.“We are planning to increase our equity exposure further, up to 15% of all assets in 2-3 years, and to 20% in the long run.“We will gradually increase the average equity ratio within our flexible and equity funds as the market prices test reasonably low levels.”last_img read more

Trojan Football Associate Head Coach And Former Standout QB Jake Meiners Selected AS Head Coach

first_imgThe Sunman-Dearborn Community School Corporation is pleased to announce Mr. Jake Meiners will be recommended to the School Board to be the new East Central High School Football Coach.Coach Meiners played for East Central High School from 2005-2008 and had many accomplishments’ two-year Team Captain, two-year EIAC Offensive MVP, three-year EIAC All-Conference, Academic All-State and All-State Quarterback. Coach Meiners still holds the school record for highest completion percentage (69%).Coach Meiners has been on the coaching staff for the past five years and has served in several positions including Associate Head Coach, Quarterbacks Coach, Assistant Offensive Coordinator, and Junior Varsity Head Coach. During his time on staff, the team has won five (5) Conference Championships, (4) Sectional Championships, (3) Regional Championships, (2) Semi-State Championships, one (1) State Runner-Up, and one (1) State Championship.According to Dr. Andrew Jackson, Superintendent, “Coach Meiners is an excellent teacher and a dedicated coach. I am pleased to have a Trojan leading this program into the future.”The Sunman-Dearborn Community Schools Board of Trustees will meet on Thursday, December 13, 2018 at 7:00 PM in the East Central High School Library to officially approve Coach Meiners as the Head Coach.last_img read more

Yong: Mata has made a good impression

first_img Young feels the process has been assisted by the welcoming reception Mata has received from his new team-mates. “Juan looked like he had been here for years,” he said. “He had only been training for two days and it was his first game but he has gelled straight away. “There is a great team spirit here. There are some great characters and the banter is brilliant. I have never experienced anything like it. “When he has fully settled in he will add something special to the squad.” Without even trying though, Mata has provided the spark United so desperately needed. As Phil Jones pointed out, his team-mates are already trying to impress the new boy and Young confirmed the dressing room seems a slightly more positive place. “It has lifted everyone; the fans, the staff and the players,” he said. Juan Mata has made a seamless transition into the Manchester United dressing room, according to Ashley Young. Press Association Even though the Spain star only completed his club record £37.1million move from Chelsea on Saturday, manager David Moyes still felt confident enough in him to start Tuesday’s Premier League encounter with Cardiff. Although Mata was not at his very best, the early signs were encouraging and United’s 2-0 win very welcome given the difficulties they have endured this season. “Obviously, as it is the transfer window, you are wondering who is coming in and what is going on. When you see a player like Juan Mata coming in it is fantastic. “He is one of those world-class players who can fit into any team.” Young’s response was a positive one. Whilst it seems fellow wide man Nani might be heading for a loan spell at Inter Milan, having failed to find the form that persuaded Moyes to hand him a new five-year contract as recently as September, Young sparkled on Tuesday, drilling home an impressive second-half goal that wrapped up the win. “It was not too bad,” said Young. “You have to be on the ball. You have to put in performances every week. It keeps you on your toes. “Manchester United has a big squad, we can rotate the team. It ensures you keep wanting to play well, wanting to train well. “That is the only way to keep yourself in the team and in the manager’s thoughts.” last_img read more