Components MSCI Specialist Credit Index and MSCI
Multi-Process Group Index led the way with June advances of
1.7%. Following close behind was MSCI Security Selection
Index, which turned in a 1.4% gain during the month.
By far the big loser in the index was the MSCI
Directional Trading Index, which racked up a 2% loss during
the month. The MSCI Relative Value Index was flat in June,
according to a MSCI news release. Comparatively, the
index reported a 3.6% May gain and 8% year to
date.
Meanwhile, in other hedge fund news Monday, Van Hedge
Fund Advisors International, Inc. reported that the Van
Global Hedge Fund Index gained 1.2% net of fees in June and
8% net for the first half of 2003. The June figure is
based on over 800 reporting hedge funds.
The Van US Hedge Fund Index, including only hedge
funds domiciled in the United States, returned 1.2% net
in June, increasing its year-to-date total to 8.7% net.
The Van Offshore Hedge Fund Index, based on only non-US
hedge funds, rose 1.3% for the month, generating a 7.5%
net gain for the first half of the year.
Emerging Markets hedge funds again produced some of the
best returns, averaging a 3.3% net gain in June, the best
among the Global Index’s fourteen strategies, according
to Van Hedge, which also noted the index’s 15.1% net
performance also tops the year-to-date list.
Aggressive Growth and Value netted average returns of 2.2%
and 1.6% in the Global Index for June, respectively,
increasing their year-to-date net gains to 13.2% and
9.9%.
In addition, Distressed Securities and Special
Situations, both strategies that target securities subject
to unusual corporate events, continued to do well as an
uptick in mergers and acquisitions, as well as a steady
flow of bankruptcy filings pumped up their returns.
The Distressed Securities index earned 2.6% net in
June (up 13.7% net year-to-date), while Special Situations
rose 2.2% for the month and is up 9.5% year-to-date.
SURVEY SAYS: "Are you exchanging gifts with co-workers
this year?"
December 19, 2002 (PLANSPONSOR.com) - Here we are
smack dab in the heart of the holiday season - so this week
we asked readers: "Are you exchanging gifts with co-workers
this year?"
A bit more than half (54%) of this week’s respondents
WERE exchanging gifts on some scale or other – one reader
noted,
“Yes we do exchange gifts in the office.
I actually fair better at work than home!”
Of course, there were nearly as many situations where
the gift exchange simply did not take place, such as with
this reader, who noted,
“A memo went out a couple of weeks ago asking us not to
exchange gifts within our company, as well as the normal do
not accept gifts from vendors.
HO HO HO.”
Not all were disappointed at being “spared” the annual gift
exchange – such as the reader who shared,
“We did at one time, but this just adds to the
stress.”
But we’re happy to report that even among the remaining
46%, something like half had foregone exchanges with
co-workers in favor of gifts or helping others less
fortunate, as did a number of those who exchanged
gifts.
Good Wills
One reader noted,
“We usually have a gift exchange, but this year one of
our co-workers had a tragedy.
About two weeks ago, the wires from her dishwasher started
a fire within in the walls of her home and within minutes
she lost everything. Fortunately, her boys were away and
she managed to leave the house, but the cat did not.
We’ve all supported her in what we can and since she lost
all her Christmas decorations as well as clothing, food,
memorabilia, etc we are giving a special ornament for her
to restart her collection.
I hope it brings some light into her rather down heartening
Christmas.”
Another reader shared the following:
“We, as a department, have chosen to participate in our
company’s Operation Santa program.
Families who are in need self identify to a confidential
committee.
Those families are then assigned to departments who have
said they want to contribute.
This year we helped 41 families.
Gifts are dropped off at a central location, already
wrapped where appropriate, and then the families come to
pick up their gifts.
This is done with the utmost care to providing a
confidential, tasteful way for the families to receive
their presents without feeling uncomfortable.
In one case this year, the family had so many items (bikes,
crib and mattress and so on) that our maintenance
department actually dropped the presents off at the home of
the employee since she never could have managed this in one
trip.
It really is a wonderful program.”
Santa Clauses
As for most popular “methods” of exchanging gifts, the
so-called “Secret Santa” was far and away the most commonly
cited…though there were a number of interesting variations.
For example,
“…we draw the names right before Thanksgiving, and then
hang stockings outside of each person’s cube or office, and
during the next several weeks, slyly slip little goodies
into the stocking of the person you are Santa for – without
being seen!
Things like candy, Christmas ornaments, candles, etc.
This makes it more interesting at our luncheon when each
person guesses not only who they think was their Secret
Santa, but also we all come with our lists of guesses at
Santas and recipients.”
As for most creative, we’ve shamelessly decided to
award a “tie” to these two readers
.
“…the best gift was given to our HR Manager.
It was a ceramic urn
with a plaque indicating the contents:
“Ashes of Trouble Employees.”
It
still sitsnext to the visitor’s chair in her office!
Makes for shorter
complaining sessions!”
There was also what can only be described as a
“situation” as follows
:
“Two years ago, (our Secret Santa) form had a category
titled “accessories.”
One gentleman found this humorous and wrote on his form
that he liked “fishnet stockings and high-heeled shoes.”
Imagine his surprise (and his wife’s surprise when he took
them home) when he received as his final gift… iridescent
maroon Bandolino pumps with a 3″ heel!
We could only imagine how he looked in them as he refused
to model.”
But this week’s
Editor’s Choice
seems to represent a matter of bad timing:
“At my place of employment, supervisors are expected to
buy gifts for the folks who report to them. Before I was a
supervisor, underlings were expected to buy for their
bosses. Maybe next time around I can time it better.”
Thanks to EVERYONE who participated in our
survey.
At my place of employment, supervisors are expected to
buy gifts for the folks who report to them. Before I was a
supervisor, underlings were expected to buy for their
bosses. Maybe next time around I can time it better.
I'm exchanging a gift with one co-worker (only 'cause I
know she got something for me) but our dept did away
otherwise with the gift exchange and are all going to lunch
together instead.
This is much to the relief of
everyone who were scrambling for what to buy their dept
buddies.
No gift exchange here.
We do have a carry-in lunch though.
In our Corp. Benefits dept., we have a Secret Santa gift
exchange.
Today is our luncheon, in fact, where the exchange will
take place.
The limit was $20 (max).
To make it more interesting, we draw the names right before
Thanksgiving, and then hang stockings outside of each
person's cube or office, and during the next several weeks,
slyly slip little goodies into the stocking of the person
you are Santa for - without being seen!
Things like candy, Christmas ornaments, candles, etc.
This makes it more interesting at our luncheon when each
person guesses not only who they
think was their Secret Santa, but also we all come with
our lists of guesses at Santas and recipients.
It makes the season more fun, as you have something to look
forward to each day (in addition to work, of course!).
Separate from this, I do exchange gifts with two
managers who report to me, as well as with my assistant, of
course.
Instead of exchanging gifts with coworkers, our
department opted to "adopt" a needy family.
The response was overwhelming and many more gifts were
collected than we anticipated.
The sponsoring agency ended up with enough gifts for
several families.
No exchange. But I am bringing in something small for
everyone.
I always give a holiday gift to all of my co-workers
(whether or not I get one in return).
I love the Holidays and celebrate them at work this
way.
We decided to go the "Secret Santa" route which allowed
people to give token gifts for 4 days and on Friday, we
exchanged a gift with the Secret Santa. Our expected spend
was $25.
The little gifts helped to put everyone in the Holiday
Spirit and the sneaking around trying to leave the gift
without being caught added some excitement to everyone's
day.
As a leader, I still felt it appropriate to give some
token of the season ($15) to those individuals who have
worked with me and allowed the department to have a
successful year.
May Santa sprinkle a little elf dust on all the business
to make 2003 a profitable year and may he leave coal in the
stocking of all the Healthcare companies who have exceeded
12% increases.
Happy Holidays!
My company has a Secret Santa program where we pick a
name and give little gifts for the week leading up to the
grand finale where participants try to guess who their
Secret Santa is and open their "real" gift.
I give gifts to workers who report to me, not an
exchange, just an end of the year "thank you".
Our department has an annual gift exchange, but I do not
participate.
There are others who don't participate and I don't want
anyone to feel uncomfortable should he/she be the only one
not participating.
There is usually a dollar limit.
Last year, we had a calendar theme and it was interesting,
but reserved since we are Human Resources.
We usually have a gift exchange, but this year one of
our co-workers had a tragedy.
About two weeks ago, the wires from her dishwasher started
a fire within in the walls of her home and within minutes
she lost everything. Fortunately, her boys were away and
she managed to leave the house, but the cat did not.
We've all supported her in what we can and since she lost
all her Christmas decorations as well as clothing, food,
memorabilia, etc we are giving a special ornament for her
to restart her collection.
I hope it brings some light into her rather downheartening
Christmas.
Are you exchanging gifts with co-workers this year?
No, we haven't done it in about 12 years.
However, I am giving our admin assistant a tea pot/cup
combo with several kinds of tea.
A memo went out a couple of weeks ago asking us not to
exchange gifts within our company, as well as the normal do
not accept gifts from vendors.
HO HO HO
I baked cookies and cakes for more than 20 of my
co-workers..........and give gift certificates to a couple
who report directly to me.
Happy Holidays - Stay Prayerful!
No.
We did at one time, but this just adds to the stress.
15 or 20 years ago,a good friend bought me a gift from
Spencer's. (I think it was my birthday).
It had a printed bow and ribbon on the box and this printed
message, "I couldn't afford an expensive present....so I
made one for you myself!"
I'm sure you have seen this.
We have exchanged this gift several times over the years,
Christmases , birthdays, etc. and at his retirement party.
It is now back on my shelve. I have never given him a
valentine gift, this may be his year.
We are not 'exchanging' gifts but I did get something
for each of my co-workers.
The creative gift I thought of was not one received at
work, though.
My husband and I, however, received that gift this past
weekend. A couple we are friends with breed cattle and
farm.
She made a wreath from
old barbed-wire fencing, inter-locked two horseshoes and
attached them to the bottom of the wreath and then wrapped
ribbon around the wreath, tying a bow just below the
horseshoes.
Very unusual, rustic and creative.
After the events of 9/11, my small firm decided to make
individual gifts to charities during the holiday season
rather than exchanging with each other.
We thought that all of us had much to be thankful for while
many others less fortunate should be remembered.
Our small office is hosting an appetizer party with
white elephant gifts this year; staff and spouses are
invited.
We did a gift exchange within our HR Department.
Everyone brought a wrapped gift worth about $10.
We then played a game where if you rolled a 6 on a die you
got to select a gift from the group.
There was much laughter and shouting as people stole the
"red" or "blue" gift from one another.
At the end we made sure everyone had a gift and had fun
opening them and figuring out who brought what.
I also plan on giving a small gift to all my staff.
In our HR department, we will not have any formally
structured gift exchange.
Gifts may be exchanged within the group, for example I will
give gifts to my staff in appreciation for the
relationships we have developed and the tremendous work
they do, but not as a larger group.
We, as a department, have chosen to participate in our
company's Operation Santa program.
Families who are in need self identify to a confidential
committee.
Those families are then assigned to departments who have
said they want to contribute. The families make a list for
Santa of the things they need, (sizes, ages and genders of
family members, etc.) and the
departments do the shopping. This year we helped 41
families.
Gifts are dropped off at a central location, already
wrapped where appropriate, and then the families come to
pick up their gifts.
This is done with the utmost care to providing a
confidential, tasteful way for the families to receive
their presents without feeling uncomfortable.
In one case this year, the family had so many items (bikes,
crib and mattress and so on) that our maintenance
department actually dropped the presents off at the home of
the employee since she never could have managed this in one
trip.
It really is a wonderful program.
We hold a in-the-training-room holiday luncheon with a
$10-limit gift game.
Otherwise, we're all crunching for year end.
This year our gift giving included:
A $200 donation each to two charities with
surplus funds from our "sunshine fund" (where ee's
donate a buck every paycheck).
A Yankee swap. $10 limit. Each ee draws a number.
#1 gets to pick from all the wrapped gifts on the
table.
Subsequent #'s gets to either take a new gift from the
pile or take one previously opened.
If (s)he takes one previously opened, then THAT person
gets to re-chose.
At the very end, #1 gets to chose from all the opened
gifts and that's it.
The most fought over gift?
About 2 years ago, a "gift card" to a gas station was
"taken" by nearly everyone at the table.
Also popular - lottery tickets.
Least popular - floral scented candles.
Another great survey question: Gift-giving in the
office?
We are a very small Life/Health insurance broker (11
people).
We all agreed to purchase toys for the Marine Corps Toys
for Tots campaign (All told about $500 was spent on toys)
and I delivered them to a local drop off site (They were so
very grateful!).
Then, the 'girls' of the office have given little things
to each other, which frankly upset me, as the whole idea of
doing Toys for Tots was to eliminate the internal
gift-giving.
I have chosen to make a donation to a local charity for
which I do a lot of volunteer work: Pets on Wheels of the
M* County Mental Health Association.
My German Shepherd, Lady, and I visit every week with about
50 residents of a nearby nursing home.
I have made a sizable donation in the name of the
company and will have letters sent to each of the 3
principals of the company letting the know a donation was
made in their name.
Each of these fellows makes PLENTY of money and want for
nothing materially, so rather than try to 'get by' with
spending a little bit, I chose to send my money where I
feel it can do the most good.
Personally, I wish we (the collective 'we') would stop
all the materialistic one-upsmanship of the holidays, and
put our dollars where they are truly needed and
appreciated.
Most of the readers of Plan Sponsor Magazine and your News
Dash are not in desperate need of the 'things' that this
time of year seems to mandate we must have.
It's trite, but just a few more acts of love and human
kindness would do so much to improve the world around
us!
Just an ornament exchange, not required, but on a sign
up basis.
Most of our employees, including yours truly,
participate in a "Secret Santa" gift exchange which is
voluntary and always seems to be enjoyed.
We just draw a name and then exchange the gifts on
Christmas eve before we close.
In our HR office, we promised we'd forgo the gift giving
among each other and instead purchase gifts for a homeless
family.
Nonetheless, little trinkets keep finding their way to my
desk.
I stick to the theory I was I taught early when working for
a HR consulting firm - never buy up (i.e., your work
superiors) but always be mindful of the staff who supports
you all yearlong.
Happy Holidays to all.
We do a "Secret Santa" where you make a list of
goodies...favorite candy, drinks, etc. and then put the
list in a box.
Then we draw names and you have to play Santa for a week to
the employee whose name you drew (give them the goodies
they listed), culminating on Friday with a small gift and
the revealing of "Santa".
We did a gift exchange last week.
Everyone was asked to purchase something special in the $25
range, then we all drew numbers.
At the party, we selected gifts in order, unwrapping as we
went along.
Each participant was allowed to "steal" a gift from someone
else, who selected again.
The most stolen gift?
$25 in cash.
No, although there are some co-workers that I consider
to be friends and I will bringing them presents.
Also, I will be brining a gift to the Assistant that helps
keeps my book of business under control.
The most creative (and best) gift that I have ever
received are my family and friends.
Yes... though it's always the big dilemma of to whom you
give gifts, and then if you give someone a gift, does that
mean you have to give some other people you work with, but
aren't as close with, gifts as well.
Big dilemma. I'll inevitably give someone a gift who then
feels bad because they didn't get me one, and I'll get a
gift from someone else and feel bad because I didn't get
them a gift.
Happens every year....
It's never anything major though...
tokens.... just tokens.
As for creativity, I've never prided myself on being a very
creative gift giver, clearly most of my friends fall in
that category as well... (Not that I'm complaining, it's
just never anything outrageously creative.)
My office will be exchanging gifts, but we don't know
who we are buying for.
We are to spend $15 - $20 on a gift and wrap it. Everyone
will get together for a "yankee" exchange.
The first person will start from selecting a gift from
under the tree, keeping it wrapped.
The next will have the choice of selecting another from the
tree, or "stealing" from the person(s) who already
selected,
all the time not knowing what is in the packages.
The trick is to make the wrapped present look appealing and
hopefully make everyone want the "pretty" gift.
Once every gift is taken from the tree, it is time to
unwrap and reveal what is inside.
This is a lot of fun and makes it easy on everyone in the
buying department.
Yes we do exchange gifts in the office.
I actually fair better at work than home!
But the best gift was given to our HR Manager.
It was a ceramic urn
with a plaque indicating the contents: "Ashes of Trouble
Employees".
It
still sit next to the visitors chair in her office!
Makes for shorter
complaining sessions!
We have departmental "Secret Snowflake" (don't say
Santa!!) gift exchanges where you purchase small items
throughout the week and one larger gift at the end of the
week.
You fill out a form detailing some items you like
(such as pop, candy, candles, etc.) and then draw a name
for the exchange.
Two years ago, the form also had a category titled
"accessories".
One gentleman found this humorous and wrote on his form
that he liked "fishnet stockings and high-heeled shoes".
Imagine his surprise (and his wife's surprise when he took
them home) when he received as his final gift... iridescent
maroon Bandolino pumps with a 3" heel!
We could only imagine how he looked in them as he refused
to model.
Yes, I am exchanging gifts with co-workers and it is
completely random. I've actually become friends with a
couple of my new co-workers and so it just felt right.
On the other hand, I've been advised that my boss does not
like to receive gifts so just to give him a card.
In our department we no longer exchange gifts between
co-workers, but we all chip in and adopt a needy family for
Christmas instead.
We then split the tasks of buying the gifts, wrapping the
gifts and delivering them to a local shelter.
After all it is better to give than receive!
It's so tricky to be in HR, where you are technically
neutral about everything, and exchange gifts with those
outside of the HR department.
So I don't.
I bring in quite a bit of holiday baking and send
appropriate holiday cards to co-workers I am close
with.
Some of us within the department that share the same job
responsibilities and are pretty tight, agreed to not
exchange gifts among ourselves considering that most of us
are procrastinators of the worst kind and haven't even
started shopping for the family and spouses let alone
co-workers.
Of course gag gifts and practical joke types are always
encouraged.
In fact, more planning and energy goes into jokes rather
than shopping for the real things.
We would like to give to those that really made a
difference this year and contributed to the overall cause
but there are those few that spoil this idea and we just
can't bring ourselves to give to these folks - yes, I know
it's the holiday season and it's all about giving but we
just can't do it.
And giving coal would be too kind for these people!
For the team we are having a catered luncheon and grab
bag gift exchange on Friday.
Gift limit is $15.
We will have a white elephant gift exchange game at our
holiday lunch.
All employees are discouraged from giving additional gifts,
or to give on your own time so as not to make others feel
guilty for not doing the same.
Given the tight times and my procrastination with shopping,
the new policy comes in very handy.
No, but I have decided
to follow George Costanza and make a donation in
everyone's name to the World Human Fund. We
are now off to celebrate "Festivas".