Swaps, swapped: Switzerland’s AHV moves into physical gold

first_img“The supervisory board has decided we are to invest in physical gold bars from now on,” the fund told IPE in a statement.In 2016 the supervisory board of the buffer fund decided to raise its the commodities exposure from 1% to 2% while divesting from energy-related commodity exposure.The fund explained last year that gold was better suited to add “diversification and hedging in certain situations (inflation or recession)” than the previously preferred energy commodities.In March the investment committee confirmed the decision to change the precious metal mandate from swaps to physical gold.The fund told IPE: “The mandate has not been changed yet. The investment committee asked for the change to be implemented by year-end 2018.”No further details were given on the mandate or the shift in strategy.As per March 2018, the fund held CHF682m in gold and a minor investment in silver, with a target allocation to precious metals of 2%.This means by year-end the swaps exposure to silver would have to be phased out and the precious metal portfolio would consist of physical gold only.The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com. Switzerland’s AHV/AVS fund is shifting to physical gold for the commodity exposure in its CHF35.2bn (€30.5bn) portfolio.At the end of last week the first pillar buffer fund tendered a custodianship and storage for CHF700m in gold bars via IPE Quest.The bars are to be stored in Switzerland either collectively or individually, the tender (QN-2447) states.The tender marks a shift in the investment strategy for AHV/AVS, as it previously only invested in gold and silver via swaps.last_img read more

FIFA Ranking List: B&H on the 16th Place, Croatia Regressed Eight Positions

first_imgB&H football team is in 16th place in the new ranking list of the International Football Federation (FIFA) with 925 points. B&H has advanced 2 positions in comparison to last month’s list. Spain is in first place, followed by Germany in second place.The Croatian national team in the previous list took tenth position and in October’s list fell to 18th position.(Source: Fena)last_img

Sumner Newscow weather report: .9 inches of rain Sunday night

first_img Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Sumner Newscow report — Last night’s storm brought .9 inches of much needed moisture to the Wellington area. According to the Sumner Newscow weather man we got .9 inches of rain. Some also lost power and cable. Follow us on Twitter.last_img read more