Performance figures were submitted by so-called ‘closed’ funds, which are generally pension plans for a single employer or group of companies, and which make up the vast bulk of occupational plans.The WTW universe covers around €13bn in assets, which is 80% of the closed pension fund market in Portugal. It incorporates more than 100 pension funds within the figures to end-December 2016, including the five biggest pension fund managers in Portugal.The figures are based on median performance over each timeframe.The final quarter of the year had produced returns which – at 0.6% – dipped below the previous quarter’s, of 1.4%.Guedes said: “The Portuguese pension fund market has a euro bond exposure of roughly 60%. The fourth quarter was poor for euro bonds in general, and slightly worse for eurozone government aggregate bonds. Another factor in these low returns was probably the high exposure to direct real estate and liquidity, giving a significant ‘cash drag’ effect.”He also highlighted the bias normally found in using local asset managers for local assets: “It’s probably worth noting that the PSI 20 [the top 20 stocks on the Lisbon Stock Exchange] had a painful performance, losing 12% over 2016.”According to regulator ASF, debt was still the single biggest asset in Portuguese pension fund portfolios, with 49% invested directly in the asset class as at end-December 2016. Of this, 31% was in public and 18% in private debt.Direct equity holdings were 8% of portfolios, while direct real estate made up 8%. A further 7% was in cash.In addition, investment funds formed 29% of portfolios, but the split between asset classes was not published.However, estimates from the Portuguese Association of Investment Funds, Pension Funds and Asset Management (APFIPP) broke down the investment fund figures to give an overall asset allocation of 57% in debt, 21% in equities and 13% in real estate.The APFIPP sample covered 87% of the Portuguese pension fund market.Guedes said: “The star of 2016 was definitely the US stock market, mostly due to the ‘Trump effect’ which pushed stock prices through the roof during the fourth quarter of 2016. Given the relatively conservative allocation of the closed pension funds market, the gains arising from the strong performers for 2016 (US, China and oil-driven commodities), were somewhat limited in Portuguese portfolios.” Occupational pension funds in Portugal made an average 1.8% investment return for the 2016 calendar year, down from 3.3% for 2015, according to Willis Towers Watson (WTW).The figures brought average annualised returns for the three years to 31 December 2016 to 4.3%, and for the five years to that date, to 5.8%.Gaudêncio Guedes, an investment consultant at WTW, said: “From the general performance indices, we would have expected around a 4% return overall – excluding real estate – for 2016, if we consider the actual asset allocation of the closed pension funds.“However, the first quarter of 2016 was a tough one for financial markets and it may well have triggered a number of difficult decisions by managers regarding the investment strategies to be adopted that set the path for the rest of the year.”
As Indonesia struggles to contain the COVID-19 epidemic, the country, like many others, is pinning its hopes on vaccine development.Indonesia is looking to secure access to candidate vaccines, with its diplomats and local companies seeking cooperation with producers such as Sinovac Biotech of China and Genexine Inc. of South Korea, as well as the Bill Gates-backed Coalition for Epidemic Preparedness Innovations (CEPI).Meanwhile, for a longer-term, self-sufficient strategy, a national consortium under the Research and Technology Ministry is working on developing its own vaccine, helmed by the Eijkman Institute for Molecular Biology. The vaccine will be named after Indonesia’s flag colors, Merah Putih, or red and white. Kusnandi said the previous first two stages of trials showed a few minor side effects, such as swelling and pain in the injection area as well as fever. All volunteers in the phase III trials, therefore, would be insured so that they could receive free treatment if they were to develop complaints, he said. Kusnandi said the vaccine would be gradually given to all the subjects, estimating 25 subjects per day for five days a week at each of the six trial centers.Read also: Indonesian COVID-19 vaccines to undergo strict human, animal testingBio Farma said it was expecting the preliminary results of the clinical trials to be submitted for emergency use authorization by the Indonesian Food and Drug Monitoring Agency (BPOM) by the first quarter of 2021. Topics : He was referring to the process of producing recombinant proteins by isolating genes of the spike protein and nucleocapsid protein and inserting them into mammalian cells. The team, comprising around 10 young researchers, is now waiting for the cells to reproduce the recombinant proteins, which might take two months, before isolating, purifying and testing the proteins on animals. The Merah Putih vaccine, meanwhile, is a recombinant vaccine. It is a type that “includes only the components, or antigens, that best stimulate the immune system” that can make vaccines safer and minimize side effects, according to the United States’ National Institute of Allergy and Infectious Diseases. The clinical trial research team leader, Unpad professor Kusnandi Rusmil, told The Jakarta Post that about 500 people had applied for the trials, which involve at least 30 doctors and 20 specialist doctors. The vaccines under development mentioned fall into different types. The Merah Putih vaccine, Amin said, was expected to cover at least 50 percent of Indonesia’s vaccine needs, given the country’s large population. The Sinovac vaccine is an inactivated virus vaccine, a traditional category of vaccines which consists of entire pathogens that have been killed with chemicals, heat or radiation. Hence, this type cannot cause diseases but still has antigens to elicit an immune response, experts said. Should the applicants pass the administrative and other preliminary procedures, the team will administer them with the first dose of the experimental vaccine or a placebo, and then a second dose of the vaccine 14 days later. What vaccine types will be offered? Bio Farma and Unpad are now recruiting 1,620 volunteers — all of whom must be healthy adults between the age of 18 and 59 years old with no history of having contracted COVID-19 — to participate in the clinical trials. The team is making a vaccine specifically for the virus strain spread in Indonesia, which, according to Amin, has similarities to the strain circulating around Asia. The company said it would produce 40 million doses for the first batch of vaccine, but the number would increase gradually as the company aims to see its production capacity reach 250 million doses per year by the end of this year. Indonesia is launching the phase III trials — the last stage of clinical testing in humans during which the vaccine is given to thousands of people to confirm and expand results on safety and efficacy from phase I and II trials — along with several countries like Brazil and Bangladesh. The Genexine vaccine is a DNA vaccine which will also be administered twice. According to the WHO, this type of vaccine is a rather new invention that offers “potential advantages over traditional approaches”, such as improved vaccine stability and the absence of any infectious agents. The Sinovac phase III clinical trials in Bandung are to run for six months. As for the Merah Putih vaccine, Eijkman director Amin Soebandrio said his team was now entering the “critical” process that would “determine the success of the vaccine in the future”. All of these attempts are progressing at different paces, while also offering various timelines, production targets and types of vaccines. But they are expected to complement each other, given the broad need to cover Indonesia’s large population of some 270 million people.How is the progress so far?State-owned pharmaceutical company PT Bio Farma has partnered with Sinovac, with the former soon to be launching phase III clinical trials in humans of a Sinovac vaccine alongside Padjadjaran University (Unpad) in Bandung, West Java.It is one of 26 candidate vaccines that are in clinical evaluation according to a compilation made by the World Health Organization (WHO) on July 31. There are 139 candidate vaccines in preclinical evaluation. Bio Farma is also deliberating a contract with the Bill Gates-backed CEPI, with no decision yet made on the number of vaccines that it would “fill and finish” during the manufacturing process, Bio Farma’s R&D project integration manager Neni Nurainy told the Post.Read also: Indonesia teams up with global manufacturers in vaccine huntMeanwhile, homegrown health giant Kalbe Farma is cooperating with Genexine for the trials of Genexine’s DNA vaccine GX-19. Indonesia is expected to run phase II clinical trials for the potential vaccine in September or October, continuing from the phase I trials underway in South Korea until August. What are the timelines and production targets? This vaccine must be injected twice to develop immunity. The government, meanwhile, has given Eijkman 12 months starting from April to develop vaccine prototypes that have been tested on animals, to be given to Bio Farma for clinical trials. Bio Farma aims to mass-produce the vaccine by 2022 after earning approval from the BPOM.
The living room flows to a deck outdoors. More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoThere is a fireplace for the cooler months.“It has got a long list of inclusions which you would expect in a forever home,” Mrs Bott said.“It’s got a big shed, which was important to Clint, and a built-in outdoor kitchen and surround sound in the entertainment area.”The layout of the house was designed for family living, with three bedrooms, two bathrooms and a retreat upstairs. The kitchen and dining has plenty of cupboard space.“We wanted it to be a forever family home with a timeless design, but also built for outdoor entertaining to suit the Queensland lifestyle,” Mrs Bott said.From conception to handing over the keys, the build at 15 Elaroo St took about seven months, and the family have enjoyed living in the house ever since. The deck overlooks the pool.Downstairs are two more bedrooms, a third bathroom with a separate toilet, study, rumpus, laundry and open-plan kitchen, living and dining room.It’s this open-plan area that is one of Mrs Bott’s favourite spaces.“My favourite thing about the house is all the living areas are really well connected,” she said.“If you are in the kitchen, you can see out to the deck, over the pool and to the pool house, which is really important when you have a young family.” It is even big enough for a more casual area to kick back.The Botts have two children, Oliver, 5, and Charlie, 3, and Mrs Bott said the layout of the house had functioned as intended.“The open-plan feel definitely provides excellent communication with the family and we can be in different spaces but still communicate.” The facade is dreamy.Inspired by the coastal homes of the east coast of America, this Morningside beauty is a dream home.Clare and Clinton Bott designed their forever home, with help from a draftsman, about three years ago. The pool house.Mrs Bott loved entertaining at the house, and enjoyed its proximity to Oxford St and schools.The house is being marketed by Tony O’Doherty of Belle Property Bulimba.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51
* Iloilo Science and TechnologyUniversity (ISAT) University – Iloilo City campus ILOILO City – Tomorrow there will be noclasses (preschool, elementary, high school and senior high school levels) inboth public and private schools here. This will give students participating inthe Dinagyang Festival highlight today – the ati tribes competition – a day of rest, said Mayor Jerry Treñas. According to Treñas, Jan. 27 would be abusy day for the city government to clean the downtown area – the epicenter ofthe Dinagyang celebration. Suspending classes would ease traffic congestiondowntown, thus making the work of people task to clean the area easier, heexplained. For tertiary (college level) schools, hegave their administrators the discretion to decide. * West Visayas State University (WVSU) LaPaz campus Taking cue from the mayor, severalcolleges and universities here announced the suspension of Monday’s classes,too. These schools were the following: * St. Therese-MTC Colleges (both inMagdalo, La Paz district and La Fiesta site in Molo district)/PN * St. Paul University Iloilo * University of San Agustin * PHINMA University of Iloilo
Indianapolis, IN — Congratulations to Franklin County’s Braylon Dorrel for winning Grand Champion Meat Chicken at the 2020 Indiana State Fair 4-H Showcase. If your 4-H project did well at the State Fair, let us know by sending an email to firstname.lastname@example.org.