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March 2, 2021 | |Post a Comment

first_imgReturning for its 10th straight year, Backwoods Pondfest will once again let loose with some music-filled festivities in Peru, NY. From August 5-6, Pondfest will feature some of the best and brightest, and this year’s first round lineup announcement certainly has us excited!The festival will see a special tribute to David Bowie, as performed by Pink Talking Fish, as well as performances from The Nth Power, Blind Owl Band (x2), Thunder Body, Tweed, Lynguistic Civilians, Bella’s Bartok, Capital Zen, Funknut and Goose!Considering that’s only round one, there’s plenty more great music in store for the fans. Pondfest is a family-friendly, all-ages event, and the beautiful campgrounds and top notch performers should make for quite the weekend of festivities. The second round lineup is expected to be posted within the next month.You can see the full Backwoods Pondfest announcement below, and head to their official website for details. At only $75 for a two-day pass, there’s no reason to miss out!last_img read more

March 2, 2021 | |Post a Comment

first_imgOn Saturday night of Coachella Valley Music and Arts Festival, Thundercat performed songs off his 2017 Drunk and welcomed out Michael McDonald (Steely Dan, The Doobie Brothers) for their first-ever live collaboration of “Show You The Way.” The song’s album recording also features Flying Lotus and Kenny Loggins, who were not present for this performance. Thundercat and McDonald also had the chance to perform “What a Fool Believes” by The Doobie Brothers, which they’ve played together once before at Brainfeeder’s Hollywood Bowl concert in 2016.Thanks to wyatt case, you can watch these fan-shot videos from the collaboration below: [cover photo via Thundercat Facebook]last_img read more

February 27, 2021 | |Post a Comment

first_imgMany people have strong associations with the fall season: apple picking, colorful leaves, pumpkin (spice), playoff baseball. These activities invoke our senses to the point where we can feel the crisp air, taste the ball park mustard, and imagine the palette of leaves. The fall season invites you to create some great memories, and here at Dell EMC, we have 5 additional reasons to celebrate: five new PowerEdge servers!We announced our five new PowerEdge servers with 2nd Gen AMD EPYC processors on September 17th, with our 1-socket servers, the R6515 and R7515, ready for immediate sale. Now that that it is mid-October, two more solutions are ready to go along with some world records. The 2-socket PowerEdge servers, R6525 and C6525, are perfect solutions for data analytics, machine learning, and virtualization. Their optimized design gives businesses one of the most compute-dense servers in the industry. At Dell EMC, we wanted to make sure you enjoyed the season and leveraged these new solutions to handle critical and demanding workloads; think real-time sports analytics or high-performance hurricane modeling.The PowerEdge server portfolio with 2nd Gen AMD EPYC provides more than just complex analytics workloads. The servers help any company manage their journey through their digital transformation, whether these solutions require software defined storage, virtualization, or high-performance computing (HPC). To build a sustainable competitive advantage, companies must cultivate these foundational capabilities from the ground up.With the new PowerEdge servers, you can focus more time innovating, making strategic decisions, and creating value for your customers. The five new Dell EMC PowerEdge servers with 2nd Gen AMD EPYC provide world-record performance for whatever solution you are building.Virtualize and CollaborateThe new Dell EMC 1-socket servers, R6515 and R7515, are designed to increase collaboration and improve cost structure. The R6515 optimizes performance for virtual machine density, SQL, and hyperconverged infrastructure (HCI). Dell EMC built an Azure Stack for HCI Ready Node, so you don’t have to worry about optimizing your configurations. Instead, the R6515 saves time and money by allowing you to focus on collaboration and building applications for your hybrid cloud environment.The R7515 is an amazing solution for database virtualization, especially for Hadoop and Spark. The R7515 has 8 world records filed for database virtualization; 4 in performance and 4 in price.[1] Think of the time saved with 280% more throughput using MapReduce and a 51% IOPS increase on a vSAN Ready Node.[2] On a 3-node cluster, the improvements in the R7515 translates to ~$269,000 in savings over an HPE DL380 3-node cluster.[3] The R7515 helps create a competitive advantage for internal operations by improving data-backed decisions and significantly reducing the total cost of ownership.Accelerate PerformanceThe new Dell EMC 2-socket servers, R6525 and C6525, are dense computing powerhouses, allowing for multiple accelerators. The R6525 increases SAP SD users by 37% with half the rack space of the HPE DL385.[4] Talk about the ultimate ERP and business analytics solution. More users and less rack space are short cuts to TCO advantages and digital transformation. Your data center will have more space to run other workloads, allowing IT to create new innovative solutions. Just imagine the potential customer analytics, business research, and improved operations.The C6525 was purposefully designed and built for high-performance computing and HPC Ready solutions. The C6525 has records in digital manufacturing as well as weather research and forecasting.[5] Not to mention that the 202% increase in LINPACK GFLOPS ensures your superpowered weather models are also accurate.[6] Again, we built the Ready Solutions to keep your mind on the important things; developing more accurate weather forecasts, constructing better economic projections, and designing a new airplane or car.Test what these servers can do for youFall is the best time to make a change. As others prepare to hibernate during the winter months, you can be busy planning and building for the spring rebirth. Creating a competitive advantage starts with the foundation. The groundwork in digital transformation is the IT infrastructure used to support your workforce and your operations that eventually create value for your customers. Dell EMC PowerEdge servers with 2nd Gen AMD EPYC help our customers manage traditional and emerging workloads, cut deployment times, and boost security. Stay on the cutting edge of the digital transformation by building world class infrastructure.This fall you could try something new. If you are interested in buying or trying the new servers, please contact your Dell EMC Rep or contact us directly. We also have some availability for remote or on-site trial of our new servers. Our Minerva cluster, 64 nodes of the C6525, creates an innovation sandbox for our HPC customers to test their ideas on the new PowerEdge servers with 2nd Gen AMD EPYC.Learn more about how PowerEdge servers can assist you with virtualization, data management and analytics workloads, and follow us @DellEMCServers.[1] http://www.tpc.org/tpcx-v/default.asp[2] Results based on Dell EMC Internal testing conducted in the HPC & AI Innovation Lab August 2019 (4k Block size and 100% write)[3] https://principledtechnologies.com/Dell/R7515-EPYC-7502P-vSAN-interim-0919.pdf[4] https://www.sap.com/dmc/exp/2018-benchmark-directory/#/sd[5] https://www.delltechnologies.com/en-us/blog/hpc-forecast-calls-eypc-weather-modeling/[6] Results based on Dell EMC Internal testing conducted in the HPC & AI Innovation Lab August 2019last_img read more

January 17, 2021 | |Post a Comment

first_imgBy Sharon OmahenUniversity of GeorgiaAfter growing up on a farm where he was taught to kill grass,Georgia Gov. Sonny Perdue says he’s had to learn to embraceevents that encourage people to grow and maintain grasses.”I still have a little difficulty adjusting to the context ofthis kind of event,” said Perdue as he welcomed more than 800turfgrass professionals to the University of Georgia TurfgrassField Day today. “I grew up on a farm in Houston County,” Perdue said. “And Ispent all of my formative years trying to kill grass. And herey’all are trying to grow it and spread it.”Held on the UGA campus in Griffin, Ga., the field day providesUGA scientists an outlet to share research-based information withmembers of the turf industry and homeowners.”Today we’re seeing the science behind the growth this industryhas brought to Georgia,” Perdue said. “It takes good basicresearch behind breeding new varieties of turfgrass to make ourstate even more beautiful.”As the population of Georgia continues to grow, the governoremphasized the importance of keeping the state beautiful.”You don’t hear people say they want to retire to the north,” hesaid. “They are coming to our state, and they are going to keepon coming. We know the pressure this puts on our state and on ourenvironment and our landscapes, and we need dedicatedprofessionals like the ones here today to help us maintain thebeauty of our state.”The UGA Turfgrass Field Day primarily attracts professionals fromthe turf industry: landscape professionals, golf coursesuperintendents and sod producers.”Field days like this one are designed as educational outreachefforts and this one focuses on improving knowledge of turfgrasspractices,” said Clint Waltz, a UGA Extension Service turfgrassspecialist.”Our goal is to educate the public on how to manage their turfgrass, whether it’s on a golf course, park or front lawn, whilepositively impacting the environment,” Waltz said.Behind the broiler and cotton industries, the urbanagriculture industryranks third in Georgia list of money-making commodities. The 2003Farm Gate Value for turf grass in Georgia exceeded $151 million andaccounted for more than 47,000 acres of the state’s productionland.Georgia’s 650 golf courses and related businesses employ more than20,000 people and contribute more than $2.7 billion to the state’seconomy.The governor concluded his field-day welcome by saying he’s afirsthand tester of new turfgrass varieties bred by researcherswith the UGA College of Agricultural and Environmental Sciences.”We’re demonstrating some of the new turfs, the new Bermudahybrids, on the lawn of the mansion in Atlanta,” he said. “I’mlooking forward to driving the city folks around and letting themsee it.”last_img read more

January 17, 2021 | |Post a Comment

first_imgIt’s football season, and tailgating with friends before a game is a traditional part of the experience. Unfortunately, grilling your favorite cut of beef means increasing the potential for foodborne illness due to improper handling of food before, during and after cooking.The food industry tries to make beef as safe as possible for consumers, but the consumer plays an integral part in ensuring meat is safe for consumption.These reminders from the University of Georgia Meat Science and Technology Center will provide you with grilling skills to keep foodborne illness far from your fall tailgating get-togethers.Cross-contamination can occur at multiple points starting with the grocery store. When selecting raw beef, always place it inside one of the plastic bags found hanging near most meat counters. Place meat items together in the grocery cart, away from other goods. Ask the cashier or bagger to place raw meat items together, not with other items. This ensures that raw meat juices do not come in contact with other items if a package breaks or leaks. It is especially important that raw meat does not come in contact with food that is intended to be eaten raw or without cooking.At home, continue to make sure raw meat, raw meat juices and residue do not come in contact with other foods. Use different-colored cutting boards for various food items. Consider using a red board for raw meat, a green board for raw produce and a white board for cooked meat. If multiple cutting boards are not an option, prepare one food item at a time and thoroughly clean the cutting board with a sanitizer and warm, soapy water before cutting the next food item. Use separate utensils for raw and cooked meat. Wash your hands often with soap and hot water.The only way to know that your beef is truly cooked is by checking its temperature with a thermometer. The thermometer must be calibrated correctly and often. You can easily calibrate a thermometer using ice water and boiling water to establish both ends of the temperature spectrum. If your thermometer cannot be calibrated, check its accuracy often and replace it when needed.The U.S. Department of Agriculture recommends cooking all whole-muscle cuts of beef to a minimum of 145 degrees Fahrenheit measured in the thickest part of the meat, followed by a three-minute rest period before carving or consumption. The USDA recommends all ground beef products and enhanced or blade-tenderized products be cooked to a minimum of 160 F.If you prefer your beef on the lower end of the temperature spectrum, you as the consumer must accept the fact that some contamination may still be present. This risk is minimized on whole-muscle cuts if the surface temperature reaches 160 F.Judging temperature by cutting into a burger or steak to check the color is not a reliable practice. This releases juices, makes the beef dry and contaminates the cutting utensil if the meat is not cooked through.Additionally, color, especially that of ground beef, can be very misleading. Premature browning, a color phenomenon known to happen in ground beef when the myoglobin color pigment changes at lower temperatures, can make the meat look grayish-brown even though the meat is not cooked through. Ground beef cooked to 160 F can remain pink, leading the cook to think the burger is not done. While this is not a food safety issue since the meat has reached an internal temperature of 160 F, it can be a quality issue if the cook continues to heat the burger in an effort to remove the pink color.If the beef is cooked but is not going to be eaten right away, it should be kept above 140 F or cooled to below 40 F. If the beef is cooled, it should be done so quickly after cooking. Temperatures within the “danger zone,” between 40 F and 140 F, can enable growth of pathogenic bacteria.Remember to use your thermometer and these simple food safety guidelines from UGA to create a safe eating experience at your next cookout.last_img read more

December 31, 2020 | |Post a Comment

first_img FacebookTwitterLinkedInEmailPrint分享PV Magazine:If Florida Power and Light (FPL) had already been off and running with the handful of projects related to the “30 by 30” plan, then the utility has now entered a dead sprint. Today the utility announced that it is beginning construction on 10 projects across Florida, all clocking in at that magical “30 by 30” capacity of 74.5 MW.Usually when we talk about unprecedented development, it’s in the terms of one large, singular project. However, regardless of the separate locations, what is impressive about this is the total scale: 745 MW.The plants are set to be located in Charlotte, Hendry, DeSoto, Suwannee, Palm Beach, Baker, Okeechobee, Manatee, Martin and Putnam counties. FPL expects all of the projects to be completed by early 2020, however firm timelines will become clear later in the construction process. Even without a hard date, getting 745 MW operational in close to one year is no easy feat.Once completed, these projects will increase FPL’s installed capacity by 60%, which is impressive, because usually when a figure like that is stated it’s referencing a 100 MW project in a state with just over 100 MW installed, it’s made only more monumental when that number is 60% of a utility that has already installed over 1.25 GW of solar. All in all, these projects will generate enough electricity to power roughly 150,000 homes.Following the completion of these plants, FPL will have 28 plants in operation. And, of these 10 projects, six of them will support SolarTogether, the utility’s flagship community solar program, one which will be the largest in the country if and when it is approved by the Florida Public Service Commission.More: FPL opens the floodgates on a tidal wave of solar Florida utility begins construction on 745MW of new solar generationlast_img read more

December 17, 2020 | |Post a Comment

first_imgAs our digital world evolves and our day-to-day activities become increasingly facilitated by technology, the opportunities for cybercriminals to access confidential information, steal identities and misappropriate funds also increase exponentially.  Credit union executives and their technical staff need to be especially vigilant in maintaining the security and privacy of their member data. The financial services industry was the hardest-hit industry by cybercrime in 2016.  Financial services firms were breached 65% more than the average organization.  (IBM X-Force® Research: “Security Trends in the Financial Services Sector,” April 2017.) To ensure the highest level of data security and member data privacy, credit unions should make sure their security policies contain these five essential elements:  Data security needs to be a company-wide focus Years ago, before the concept of cyber security became a ubiquitous corporate concern, this type of responsibility may have been handled entirely by the IT department.  But as technology reliance has permeated almost every facet of every industry, systems have become more cloud-based and remote employee access has become more prevalent. The opportunities to infiltrate sensitive company data have increased in proportion. What is the biggest vulnerability facing financial services firms?  According to the IBM Cyber Security Intelligence Index, a whopping 95% of successful cyber-attacks are caused by human error.  Cybercriminals often target the weakest point in financial firms’ security: their employees. Through lack of proper education and communication of corporate data privacy policies, a simple mistake such as installing malware or responding to a phishing email can lead to catastrophic data breaches. Technology alone cannot prevent cyber-attacks. Every credit union needs to build its human firewall through employee education at all levels of the company, clearly communicated data policies, and an ongoing focus on data security best practices, led by each department manager.  Confirm the Security Protocols of All Parties in Your Data Chain  Credit unions face one of the greatest challenges in the data security landscape, because a major breach could compromise their members’ account information, personal information and debit card details. This is why it’s essential to perform security due diligence on all participants in your data chain: your partners, your vendors, and your vendors’ vendors – essentially any party that will be taking confidential information out of your firewall.  While there have been many large, publicized data breaches over the past few years (2016 hit record numbers), one of the biggest examples of errors made down the chain was the Scottrade Bank data breach in April 2017 that exposed the personal information of 20,000 customers.  And it wasn’t the work of highly sophisticated hackers, rather it was caused by simple human error.  A file containing the personal information of 20,000 customers was inadvertently left open to the public when a third-party vendor uploaded a file to a server without putting the proper security protocols in place. (SC Media, “Scottrade Bank Data Breach Exposes 20,000 Customers’ Personal Information,” April 2017.) Fortunately, there is an industry standard best practice for reducing third-party security risks:  requesting and reviewing each partner’s and vendor’s SOC Type 2 Report. This report lists organizational controls, puts parameters around them and is audited at least once every year. Any vendor that processes your members’ sensitive information should produce a SOC 2 report. SOC 2 reporting helps to create trust and establishes each party’s credentials for providing financial services. They demonstrate that their internal controls meet security best practices, otherwise known as the trusted services principles (TSP).  The American Institute of CPAs (AICPA) defines these five TSPs as: SecurityAvailability Process IntegrityConfidentialityPrivacy  Review Your File Transfer Protocols to Avoid Debit Card Reissues Information associated with your members’ debit cards can be especially catastrophic if compromised.  Nowadays, it’s become commonplace for consumers to receive reissued debit cards in the mail with the brief explanation that their card may have been “compromised” with no further detail.  Not only does this alarm the consumer, but in this digital society, we have almost everything set on auto-pay.  We have debit cards attached to our monthly bill payments, our retail accounts at Amazon, Target, eBay, etc., and even stored for our favorite pizza delivery service! It’s an enormous hassle for consumers to update all of their profiles, and the act of reissuing mass amounts of cards is a huge financial burden to the financial institution.Careless file transfers are a leading cause of data breaches.  Carefully review your credit union’s file transfer protocols. When data is being transferred outside your firewall, be sure that your employees are utilizing secure file transfer protocols and encrypting the data. Data needs to be encrypted not only during transit but also at rest, to avoid having account numbers, tax IDs or any other sensitive data left insecure and vulnerable. If your credit union encounters a breach situation requiring thousands of debit cards to be reissued, fortunately there are financial service companies that can help you repair the resulting drop in consumer usage due to trust issues or inconvenience.  Such vendors are skilled in motivating consumers to increase their debit card usage in small steps, leading to progressively dramatic increases, and often provide the marketing tools and analysis necessary for a successful program.    Implement Defined Rules, Roles and Responsibilities for Client DataHow does your credit union handle sensitive client data? Who has access to it? And what is your security protocol? With any company that handles consumer financial information, the employees in every role – from interns to C-Levels – need to realize that such data cannot be downloaded, emailed, or saved on an external device.  Such data cannot be left on desks, displayed on computer monitors unattended, or simply discarded without first being shredded.  The reality is that most data breaches, while caused by human error, are unintentional. Or, your employees might be perfectly following your internal security protocols, but one shares the data with a vendor who then mishandles it.  While training and education help and a company-wide security policy is essential, one of the most important safeguards for preventing data breaches is to limit the access to sensitive data.  Define your roles and level of access to various data.  Perhaps you have teams within your credit union who need access to review sensitive records, but only a select few very experienced individuals should be entrusted with transferring and storing such data. It’s also critical to periodically review access levels to confidential information and adjust as necessary as roles change within your credit union.  Prioritize System Updates and Application Patching In many companies, the technical focus is often on “newness” – the newest operating system releases, new programs, new tools, new hardware, etc. And in this fast-paced digital world, it’s very tempting to shift priorities away from critical maintenance to focus your resources on what’s new and probably more exciting. Don’t let your credit union fall into this trap.  Because systems are changing and evolving so quickly, numerous vulnerabilities arise frequently in these systems and they need continuous attention and maintenance.  Firmware updates and system patching need to be kept on a disciplined schedule.  Make sure that your tech team has the resources they need to devote adequate time to maintaining your company’s infrastructure and managing all system vulnerabilities. What’s important to point out is that system patches need to be applied promptly and proactively. Even the slightest delay could result in disastrous data breaches, such as what recently happened to Equifax. In September 2017, hackers were able to access personal data of nearly 143 million Equifax customers.  The simple explanation: a flaw in a software tool that wasn’t promptly and properly patched, leaving the company’s data vulnerable.  If something so catastrophic can happen to a major credit bureau, it could certainly happen to a credit union.  A data breach can lead to loss of consumer trust, public criticism, job losses, and a devastating hit to your revenue.  If your credit union does not have a recently-updated data security policy, the time to start addressing that is now. 25SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Albert Steed Albert Steed is Chief Information Officer for Velocity Solutions. He is responsible for providing overall strategic and operational direction for the company’s technological planning and development. Web: myvelocity.com Detailslast_img read more

October 6, 2020 | |Post a Comment

first_imgA kitchen sink broken by a frozen chicken was one of the more unusual insurance claims by a holiday home owner.FROM a frozen chicken being dropped and smashing a sink to strange burn marks all over the carpet, these are among the strange damages holiday home owners have had to deal with.New research has revealed it’s not just blocked toilets causing nightmares for holiday home owners.New insurance claims data released by general insurer IAG revelled accidents and damage in holiday homes was fairly common.It surveyed holiday home tenants and found one in six had accidentally broken something or damaged their accommodation while on a holiday.One in seven had been injured in the home and one in five had hosted a party or been to a party at a holiday rental property. Sparklers may be great for a party, but dropping them on the floor can cause substantial damage.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach Northless than 1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by IAG, ShareCover spokesman Mitchell Sweeney said the findings were a timely reminder for those who decided to rent out their property on Airbnb or other rental sites about the potential risks involved.“Our claims data highlights that the unexpected can happen from time to time,’’ he said.Mr Sweeney said many owners may not realise until it was too late that their normal home and contents insurance, landlord insurance or the insurance offered by some platforms, may not cover you for damage or liability caused by a paying guest.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:53Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:53 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p432p432p270p270p180p180pAutoA, 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 Rate1xFullscreenRun-down rentals, your rights as a tenant00:53Some of the more unusual claims they have handled were: — A frozen chicken broke a kitchen sink after being dropped on it— 14 circular burn marks (cause unknown) were found on the carpet of a property— One guest fell through a flight of stairs causing personal injury— A brawl after a party caused extensive damage throughout a property— Guests lighting sparklers that dropped onto floor causing burn to floorboardslast_img read more

September 29, 2020 | |Post a Comment

first_imgFive funds generated losses.Uraloboronzavodskiy, one of seven funds that had its licence revoked by Bank of Russia in August, made the biggest loss, of 44.27%, followed by Tikhiy Don at 40.96%.Over the period, the number of NSPF-insured members grew by 27.5% to 28,135,454, and pension savings by 50.2%, in Russian rouble terms, to RUB1,700.7bn (€276.7bn) at market value.Meanwhile the net asset value of VEB’s pension portfolio fell by 3% to RUB1,835.4bn.In 2014-15, the 6% contribution to the mandatory pension system was diverted into the first pillar and will only be reintroduced into the second pillar in 2016.However, the 24 funds that have converted to joint-stock status and received central bank approval to join the guarantee scheme of the Deposit Insurance Agency (DIA) by the end of March 2015 did receive the contributions frozen in the second half of 2013, amounting to more than RUB600bn.A further five have since joined the DIA.Transfers from VEB to the privately managed system also contributed to asset growth.DIA-member funds have also been allowed a longer investment horizon, of up to five years, enabling them to fulfil president Vladimir Putin’s objective to get pension monies more involved in financing infrastructure and other capital projects.Since March, VEB has also been allowed to expand its otherwise highly conservative portfolio into infrastructure and other economic development bonds.According to Russia’s Ministry of Finance, in the second quarter of 2015, VEB invested some RUB60.1bn in such projects.In the case of the NSPFs, infrastructure and related bonds accounted for RUB112.9bn of the RUB128.8bn asset growth in the second quarter.These investments included securities issued by the oil company Bashneft (RUB25m), Russian Railways (RUB22bn) and the energy grid operator Rosseti (RUB11bn).Some RUB15.5bn was invested in securities related to the construction of the new Moscow-St Petersburg highway, and RUB60bn in housing projects, including bonds issued by AHML, the Russian agency for housing mortgage lending.As a result, the asset-allocation profile of the funds has changed.The central bank reported that, in the two months since the start of June, the share of bank deposits and cash has fallen from 46.8% to 35.4%, while that of corporate bonds has risen from 30.8% to 38.2%, and that of equity from 7.9% to 10.1%.The share invested in government securities remains small, although pension funds did reportedly buy 40% of the first inflation-linked OFZs (federal loan obligations) issued this July.Alongside nudging the funds towards longer-term investment, the central bank is also tightening up limits on pension funds investing in the assets of affiliated companies, those belonging to the same bank holding company or projects of shareholder companies.It has also expressed concern about investments in mortgage participation units and closed-end investment fund units – assets it described as non-transparent in terms of valuation. Russia’s non-state pension funds (NSPFs) averaged a year-to-date return of 9.9% in the first half of 2015, according to Bank of Russia, the central bank and sector regulator.Vnesheconombank (VEB), the state-owned bank that manages mandatory pension assets for those workers who have not chosen an NSPF, achieved a return of 12.2%.The returns of 61 of the 87 funds operating at the time exceeded the year-to-date June inflation rate of 8.52%, but the overall range was huge.The highest return, of 27.08%, was generated by the closed-end fund Doveriye, followed by European Pension Fund (23.29%), Regionfond (20.60%) and Imperiya (20.43%).last_img read more

September 22, 2020 | |Post a Comment

first_imgRelatedPosts Pirlo not out to copy anyone after Juventus’ comfortable opening win Live stream Premier League, La Liga, Serie A on Showmax Pro this weekend Juve’s Pirlo gamble makes new Serie A season the most open for years Juventus will begin their bid for a 10th successive Serie A title with a home match against Sampdoria following the draw for the 2020/21 season’s fixtures on Wednesday.Inter Milan, last season’s runners-up, will visit promoted Benevento in their opening fixture. The season will start later than usual on the weekend of September 19/20, a knock-on effect of the coronavirus pandemic, which caused last season to finish in early August rather than May, and will feature a shortened Christmas break.The opening weekend will also feature a clash between Lazio and Atalanta, who finished fourth and third respectively last season, while AC Milan entertain Bologna.The first Derby d’Italia fixture of the season, between Inter Milan and Juventus, will be on the weekend of January 16/17, which will also feature a derby between Lazio and AS Roma.The first Inter-AC Milan derby will be on October 17/18 and there will be an early clash between bitter rivals Juventus and Napoli who meet in Turin on October 3/4 on the third match day.Italian and local government authorities are still discussing whether to allow at least some spectators to watch matches. Reuters/NAN.Tags: 2020/2021 SeasonFIXTURESJuventusSampdoriaSerie Alast_img read more