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Basel pension fund to move into private equity, senior secured loans

first_imgPensionskasse Basel-Stadt (PKBS), the CHF11.2bn (€10.3bn) pension fund public employees of the Swiss city of Basel, is to invest in private equity and senior secured loans, one of two moves it weighed as part of a search for yield in the prevailing low interest rate environment.The decision was taken by the pension fund’s board of directors at the end of May, and was effective 1 July.It allows the Pensionskasse to invest up to 3% of its assets in each of the asset classes, which the pension fund said will enable it to raise its return expectations across its total portfolio without having to take on “excessive” risks.The pension fund also considered making changes to its asset allocation without venturing into new asset classes, which would mainly have involved increasing the equity component of its investments. It decided that expanding its investment universe was the better option, in particular from a risk and risk diversification perspective.Private equity and senior secured loans emerged as appropriate additions to the Pensionskasse’s asset allocation, it said.PKBS returned 1.19% in 2015, acknowledging that this fell far short of its target return of 4.6% for that year. Its target return since 1 January 2016 was reduced to 3.6%.In the first half of this year, the pension fund has achieved a performance of 1.56% on its investments.As at the end of 2015, some 31% of its assets were invested in equities, followed by nearly 25% in bonds and real estate.It also invests in mortgages, loans, and commodities, and the short-term money market.last_img read more

Emiliano Sala’s Father, Horacio, Dies of Heart Attack

first_imgBoth Nantes and Cardiff are still disputing the transfer saga as the English club has refused to pay the agreed transfer fee on Sala.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Emiliano Sala’s father, Horacio, dies of heart attack three months after the tragic plane crash that claimed the life of his son.Days after the former Nantes of France forward was signed by English club, Cardiff, the Argentine was killed along with the pilot of the aircraft off the English Channel.last_img read more

Wow! Four-time title winner says: ‘I could manage Liverpool and Spurs’

first_imgAjax manager Frank de Boer admits it would be hard to turn down Liverpool and Tottenham if either of the Premier League pair come calling again.The former Holland defender has been in the running for both jobs in recent years, after winning four Eredivisie titles during his time with the Dutch side.De Boer was linked with the Anfield top job before Brendan Rodgers was appointed, and was approached about the Spurs gig, which was eventually handed to Southampton boss Mauricio Pochettino last summer.And, speaking in an exclusive interview with Four Four Two, the 44-year-old claims is interested in moving to England in the near future.“I believe you have to take risks and have the conviction that you’ll succeed,” he said. “Together with Mauricio Pochettino I was the biggest candidate, and if they had chosen me, I would’ve done it [the Tottenham job].“If I get an offer from a club in the future I will consider the possibility and then follow my feeling.“I look at whether it’s a club where I think I can present myself well and where I’ll be able to act in the way I like.“If I think that’s not the case, then I won’t do it. Before, there was potential interest from Monaco as well, but I told my agent that it wasn’t something I was looking for at that moment.“Liverpool and Spurs are clubs I could manage. Liverpool are a good example – like the way they play now and how they finished last year.“They have adapted a different football philosophy. Before it was the old English kick-and-rush; now you see Martin Skrtel playing a passing game. You would never have seen that two or three years ago.“I noticed that as well; that you could adopt that game with that kind of player. They did that last season, and from nowhere they finished second. That’s the best there is.”When asked why he rejected the chance to talk to Liverpool, following Kenny Dalglish’s departure, the 1995 Champions League winner added: “It wasn’t a difficult decision.“I said straight away: “I don’t even have to think about it”. At the time, I felt I wasn’t ready for a move abroad. I had just started at Ajax, and I was not finished here at all.“Liverpool approached me in the same way Tottenham Hotspur did this year, wanting to hold exploratory talks first. I think I was one of the two or three candidates for the Liverpool job. Frank de Boer 1last_img read more