Institutional investors have been increasingly allocating away from their domestic markets for many years – but some still remain strong supporters of local assets.Mercer’s annual European asset allocation survey, published this week, showed a year-on-year decline in the average equity holdings for European pension funds – 25% in 2019, down from 28% in 2018 – and a corresponding increase in bond investments, from 51% to 53%.Digging deeper into the data shows a varied picture from country to country, however. Belgian pension funds on average invest 45% of their portfolios in equities, the highest of any of the 12 countries assessed by Mercer.Belgian funds also invested the most in their domestic stock market – 30% of investment portfolios on average – although with the MSCI Belgium index dropping 23.2% during 2018 in euro terms, this was unlikely to have been a happy recent experience. At the other end of the scale, Danish pension funds allocated just 1% of assets to their home equity market, and 11% to equities overall – the lowest figure of the 12 countries in both regards. The MSCI Denmark index fell 11.2% last year.Strategic allocation to domestic equitiesChart Maker“Equity allocations are typically smaller than they were a decade ago,” Mercer said in its report. “However, the construction of equity portfolios has evolved in an increasingly thoughtful manner, with reductions in domestic bias and with the gradual acceptance of emerging markets as a material component of the overall equity universe.”It is worth noting, of course, that domestic equity markets vary even more than those who invest in them: stock exchanges such as those in the UK, Germany and France, for example, tend to be home to multi-national firms and so are themselves less domestically focused.Equities are not the whole story, however. Using Mercer’s data on fixed income allocations, IPE has constructed a picture of which countries’ pension funds allocate most towards their domestic equity and bond markets.Looking just at traditional fixed income investments, Mercer reported that Ireland and Portugal both invest almost exclusively in their home markets, with 94% of their bond holdings listed locally. Within this, 90% of Irish pension funds’ bond holdings are allocated to Irish government bonds and 4% to corporate issuance. For Portugal, the figures are 72% and 22%, respectively.Strategic allocation to domestic bondsChart MakerPortuguese funds have one of the highest average allocations to fixed income of any of the 12 countries assessed – 67%, including non-domestic bonds – meaning overall Portuguese pension funds invest 75% of their portfolios in domestic equities and bonds.At the other end of the scale, Swiss pension funds on average allocate just 18% to domestic assets, made up of 11% in Swiss equities and 7% in local bonds.Allocations to domestic bonds and equityChart Maker
Pierce Thomas of Brownsburg East Middle School shocked the track world when he long jumped 24 ft. 11 1/4 in. in a middle school meet against Avon. This is less than 3 inches from the state high school record. On his next attempt he jumped over 25 ft. 7 in., but it was called a scratch. According to Thomas he had too much speed on that one. To give you an idea of how extraordinary this is, Batesville’s record is 22 ft. 11 1/2 inches set by Jason Weisenbach more than 20 years ago! We at Batesville thought that was pretty phenomenal.Pierce said he comes from a family of jumpers. His grandpa and his grandpa’s brother were collegiate jumpers at Northern Iowa and Iowa State Universities respectively. Even though he has all of this skill in track, his first love is basketball. He is already being sought by the likes of Notre Dame and Purdue. Watch for the name–Pierce Thomas!
A Donegal man who scooped €283,000 on the lotto hasn’t even told his parents yet.The man won the cash last weekend when he matched five number plus the bonusThe young Inishowen man, who is in his 20s, said he has told nobody yet of his good fortune and indicated he may keep it that way! The winner stated that he had yet to tell anyone of his win – including his own parents.As well as that he claimed that he is unsure if he will ever tell anyone!He said: “I saw on Facebook that there was a winner sold at G&S. So I checked the numbers and my heart was beating out of my chest.“I stayed quiet thus far and once I had my cheque I was going to surprise the parents but now I am sitting here, I might just see how long I can keep my little secret.” He bought his ticket in G & S Supermarket, Church Road in Carndonagh.Meanwhile, the National Lottery has still to hear from the lucky winner of last Saturday’s Lotto jackpot of a mega €4,434,994 won on a ticket sold in Co. Donegal.The winning Quick Pick ticket was sold at Daly’s Topaz on the Letterkenny Road in Lifford. But there has been no contact from the lucky ticketholder.Dermot Griffin, CEO of the National Lottery today appealed for Lotto players to check their tickets.He said “It is still early days but one week on from the Lotto draw and the ticket-holder has yet to make contact with us. Again we are appealing for all of our players in Donegal, and the border area, to check their tickets.” He continued: “There is a strong possibility that the ticketholder already knows they have won the €4.4 million but for whatever reason are taking their time to come in and claim their prize. They could be getting financial advice or letting it all sink in or they could have even gone on holiday straight away – all of which has happened before with past winners”.The National Lottery advises, if you are this lucky ticketholder, that you sign the back of the ticket and contact the National Lottery Prize Claims Team on 01 836 4444 and make arrangements to collect your prize.During the week, Daly’s Topaz store owner, which sold the winning ticket, Austin Daly, speculated that the winner could be either side of the border stating that “between 40 and 50 per cent of our business is from over the border in Co. Tyrone so you never know. We have a lot of passing traffic here as well as a good local trade. So who knows?”The winning numbers for the Lotto draw that night were: 1, 2, 7, 33, 34, 40 and bonus number was 6. Why Donegal’s newest lotto winner is keeping mum on his cash windfall! was last modified: January 20th, 2018 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:donegalInishowenlottowinner