Ilmarinen boosts investment returns, but loses customers

first_imgInvestment returns nearly doubled for Finnish pensions insurance company Ilmarinen in the first half of this year, rising to 6.2% from 3.4% in the same period last year, even though the provider said market conditions had been difficult.In its interim report, Ilmarinen said its investment portfolio had grown by €2.1bn between January and June compared to growth of €1.1bn in the first half of 2014.Total investment assets rose to €36.4bn at the end of June from €33.5bn 12 months before, it said.Investment markets had been marked by uncertainty between April and June after a strong start to the year, Ilmarinen said. Timo Ritakallio, president and chief executive of Ilmarinen, said: “The investment environment became extremely challenging during the second quarter due to fluctuating stock prices and the fast growth of long-term interest rates. “The culmination of the situation in Greece at the very end of the quarter also gave investors cause for concern,” he said.On the business side, Ilmarinen’s sales fell in the first half, with premiums written shrinking to €47m from €53m in the first half of 2014.Ritakallio said taking on new customers had gone as planned between January and June, but that the company had fallen short of targets retaining customers.“We have already launched measures for improving customer retention,” he said.Within investment, equities produced a 14.0% return in the first half, up from 5.5% in the comparable period last year, and fixed income investments generated 0.8%, up from 2.2%.Direct real estate investments, meanwhile, returned 2.6%, up from 2.4%.Ilmarinen’s CIO Mikko Mursula said investors would be taking a close look at US economic growth in the latter part of this year, including any interest rate hikes and the economic outlook for China.There had already been signs of economic growth in Europe, he said.“What we are waiting to see is whether European companies’ results will begin to reflect the impacts of lower interest rates, low oil prices and a cheaper euro,” Mursala said.last_img read more

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​Danish roundup: MP, Industriens, Sampension post weak 2018 returns

first_img“In my judgement, MP got away lightly when I look at the returns of other pension companies,” he said.Trade war, Brexit, rising interest rates in the US, fears that growth was tailing off and geopolitical tensions all helped pull the equities markets into negative territory last year, MP Pension said.Industriens warns of weak 2018 Source: SampensionHenrik Olejasz Larsen, CIO, SampensionIn its market-rate pension scheme, members with 20 years to retirement suffered losses of 2% in its low-risk fund. Moderate and high-risk members experienced declines of 3.3% and 4.9% respectively.Members with no years left until retirement made returns of 0.4% in the low risk section and 0.2% in the moderate risk section. High-risk investors’ pots declined by 0.8%.Henrik Olejasz Larsen, Sampension’s CIO, said: “Shares fell by more than 20% on the big markets last year, and in the next few years, we will have to get used to somewhat lower returns than the record high figures we have been seeing for a few years.”That said, the broader picture of the world economy continued to look good for 2019, even though growth would be slower, according to Olejasz Larsen. Karsten Kjeldsen, CIO, IndustriensMeanwhile, blue-collar labour-market pension fund Industriens Pension said it had also been hit by falling share prices last year, but gave no specific figures for 2018 investment returns.Karsten Kjellerup Kjeldsen, the DKK165bn pension fund’s CIO, said: “Even though our big investments in types of asset other than listed shares helped us, unfortunately we can’t avoid being hit when equities fall as sharply as in 2018.”Equities markets fell significantly last year in Denmark, Europe and the US, as well as most emerging markets, he said.Industriens Pension said it would publish its overall 2018 return later this month.Growth slower but outlook positive for 2019, says SampensionSampension reported losses for younger scheme members in 2018, but slim gains for those close to retirement with low or moderate risk profiles.The DKK290bn fund also said it had delivered some of the market’s best returns for last year, despite the losses for some investors. center_img Denmark’s pension fund for academics posted an overall investment loss of 1.9% for 2018 – but it still ranked at the more successful end of the pensions market.The DKK115bn (€15.4bn) MP Pension reported the loss in an early results release for the year just ended.Anders Schelde, CIO of MP Pension, said: “A negative result is never satisfactory, but you have to remember that it comes after nine years of very high returns.”In 2018, he added, there simply were not many places investors could hide in order to avoid losses.last_img read more

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Brokers: Hermes Marine, Sinokor Merchant Marine on Ordering Spree

first_imgHermes Marine Management has placed an order for up to eight 82,000 dwt bulkers with the Chinese shipbuilder COSCO Shipping Heavy Industry, according to Clarksons.The order covers four firm Kamsarmaxes and an option for four more ships, to be built at the shipbuilder’s Yangzhou facility. The first four ships from the series are scheduled for delivery in 2020, Clarksons said.Financial details of the deal have not been revealed. The Athens-based company is affiliated with Gulf Marine Management.Several more orders have been reported in the bulk sector, with South Korean Sinokor Merchant Marine being linked to an order for two 208,000 dwt bulkers from Shanghai Waigaoqiao Shipbuilding. The ships will feature Tier III engines and are slated for delivery in 2020, Asiasis informed. The ships are said to be priced around USD 51 million a piece.Sinokor has also been tied to an order for up to four 115,000 dwt tankers. Based on the data from Asiasis, the order includes two firm and two optional newbuildings set for delivery in 2020. The Tier II ships have been ordered from Daehan Shipbuilding, according to the report.World Maritime News Stafflast_img read more

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Indiana General Assembly ‘Organization Day’ tomorrow

first_imgIndianapolis, In. — Tuesday, Nov. 20, the Indiana General Assembly will convene for Organization Day, the ceremonial start of the 2019 legislative session.During this time, my fellow senators and I will meet in the Senate Chamber, where we will discuss upcoming legislation and hear from our new president pro tem, Rod Bray (R-Martinsville).Additionally, Indiana Supreme Court Chief Justice Loretta Rush will swear in newly elected senators and senators beginning new terms.The 2019 session will formally begin Thursday, Jan. 3. By law, it must end no later than April 29.To stay up to date on things happening in the General Assembly, click here.last_img

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Mach-1 signs five-year pact to sponsor IMCA Sport Compacts

first_imgABBOTT, Texas – The company synonymous with IMCA’s Sport Compact division has cemented its title sponsorship status through 2018. Mach-1 Racing of Abbott, Texas, will provide a portion of $1,000 point funds to be paid to top 10 drivers in final national standings for the 4-cylinder class for the next five years. “Owner Gary Mach and Mach-1 have supported this division since the beginning of their sponsorship role with IMCA in 2009 and even more so since becoming title sponsor in 2011,” IMCA Marketing Director Kevin Yoder said. “That support has been instrumental in the growth of the division.”Sport Compact champions will be crowned at more than 40 tracks in nine states this season.More information about Mach-1 support and consulting services is available by calling 254 826-5848. All drivers in the division are required to display two Mach-1 decals on their race car to be eligible for point fund shares.last_img read more

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Sexton already looking ahead

first_img The Lions achieved an unforgettable triumph over the Wallabies with Saturday’s 41-16 victory in Sydney to take the series 2-1. While Saturday’s win is still fresh in the memory, fly-half Sexton is already plotting the All Blacks’ downfall in four years’ time. Jonathan Sexton is already looking forward to the British and Irish Lions tour of New Zealand in 2017 after helping the 2013 contingent secure a first series victory in 16 years. Speaking at Dublin Airport, Sexton said: “A lot of the same guys will be there (New Zealand) if they can keep form and keep playing well for their clubs and countries so already guys are starting to talk about four years’ time. “It’s such a special thing to be a part of so I’m looking forward to having a little break and then big times ahead for me.” center_img Press Associationlast_img read more

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Johnson confident of title chances

first_imgHistory may now be starting to weigh a little heavier on Liverpool but defender Glen Johnson insists they are professional enough to see the job through and end a 24-year wait for the league title. “We just need to think about West Ham away next Sunday now and concentrate on that. “I’m sure everyone is looking forward to those big home games against Manchester City and Chelsea but we have to take care of West Ham first otherwise those games might not be as relevant. “We have to make sure we win our next game. We all know what’s expected of us and we’re all confident.” Liverpool received an unexpected boost before they had even kicked off against Spurs after leaders Chelsea lost at Crystal Palace and City were held to a draw by Arsenal. That only heightened the sense of anticipation at Anfield on Sunday but they did not have to wait long to have their nerves eased. “We always try to start well and get out of the blocks quickly and we did that well,” added the England international, whose point was backed up by his side scoring in the first half for the 21st consecutive match. “Scoring after 100 seconds was just the perfect start to the game for us. “We put them under pressure and they could barely keep hold of the ball. “There wasn’t really any extra incentive with Chelsea and City dropping points. We know we need to try to win every game. “Of course when others drop points it’s helpful but we just need to be worrying about ourselves at the moment. I thought everyone was fantastic. It was a real team effort.” Johnson is just a couple of months away from entering the final year of his contract and while there has been no new deal forthcoming the defender, who is 30 in the summer, is keen to extend his Anfield career. “Yeah, of course I want to stay here,” he said. “I’ve always said to Brendan (Rodgers) that I am loving it here and I want to be here for years to come. “Hopefully we can get something sorted this summer.” At the start of the season Tottenham had high hopes of qualifying for the Champions League but their form against the top four in particular has been woeful and virtually rules out a return to Europe’s elite club competition. They have taken just one point from eight matches, scoring just twice and conceding an incredible 27. “It is something we need to look at but it is too late now because we have six games left, none of them against teams above us,” said boss Tim Sherwood. “But we certainly need to address it if we want to be aspire to be one of the top teams in the division.” Defender Jan Vertonghen (knee) and striker Roberto Soldado (ankle) will both be assessed this week after coming off injured at Anfield. A comprehensive 4-0 victory over Tottenham – which saw them break Manchester United’s Premier League record by scoring four or more in a game for the 11th time in a season – took the Reds back to the top of the table for the first time since Christmas. This time, however, there are only six matches to go and victory in all would secure their 19th title. Many expected Liverpool’s challenge to have faded by now but since being beaten in successive matches by rivals Manchester City and Chelsea in late December they have gone from strength to strength, winning 11 and drawing two in a remarkable unbeaten run which has seen them win their last eight games. “Any team who is top of the league at this stage deserves to be there,” Johnson said. “This is a difficult league with a lot of tough games but I think we can stay there. “This is a fantastic club. Everyone involved here loves it and wants to win the league badly. We want to get the club back where it should be. “But being top now is only significant if we stay there. Forget the league table, just win at Upton Park (against West Ham on Sunday). “Playing in the best league in the world, the hardest thing is to go game by game. “Every day you’ve got your mates texting you and you see on the news how close you are. “But everyone here is professional. Every time we come here we have a job to do. Press Associationlast_img read more

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Duo fire brace as Villa lose at Everton

first_img It was Lukaku’s 10th goal of the season in all competitions and saw him become only the fifth player to reach 50 Premier League goals before turning 23. It had been a torrid half for Villa’s defence but things turned embarrassing before the interval when Everton notched their third. Lukaku and Barkley helped the ball through and Guzan saved at Kone’s feet – but he could not hold on to it, and despite the presence of several Villa defenders, Barkley was able to step in and fire into the net. Villa had some glimmers of hope after the break, with Tim Howard rushing out to make a decent save when Jordan Veretout tried to pounce on an under-hit back pass by Ramiro Funes Mori, and the goalkeeper then pushing away Kieran Richardson’s shot. But in the 59th minute Everton struck again as their stand-out trio combined once more, Deulofeu feeding Barkley and his tee-up finding Lukaku, who lifted the ball past Guzan. Lukaku was almost in for his hat-trick towards the end, but Guzan this time kept him at bay. TWEET OF THE MATCH: Everton ripping Villa to shreds. Barkley, Deulofeu and Lukaku having a field day – The Times’ Merseyside football writer Tony Barrett (@TonyBarretTimes) sums up the story of the game Everton Tim Howard: 7/10 Brendan Galloway: 6 Ramiro Funes Mori: 6 John Stones: 7 Seamus Coleman: 7 Gareth Barry: 6 James McCarthy: 7 Arouna Kone: 7 Ross Barkley: 8 Gerard Deulofeu: 8 Romelu Lukaku: 8 Subs Leon Osman: 6 Kevin Mirallas: 6 Darron Gibson: 6 Aston Villa Brad Guzan: 5 Kieran Richardson: 4 Ciaran Clark: 4 Micah Richards: 4 Alan Hutton: 4 Idrissa Gana: 5 Ashley Westwood: 5 Jordan Veretout: 5 Jack Grealish: 5 Carles Gil: 5 Jordan Ayew: 5 Subs: Carlos Sanchez: 5 Rudy Gestede: 5 Charles N’Zogbia: 5 STAR MAN: Gerard Deulofeu. One of three stand-out performers along with Romelu Lukaku and Ross Barkley, Deulofeu might not have got his name on the scoresheet like the other two, but he looked threatening virtually every time he had the ball and was involved in three of the four goals. MOMENT OF THE MATCH: Lukaku’s second goal. Not the best one of the game technique-wise, but it marked a nice personal milestone for the in-form striker as he joined the 50-Premier-League-goals-before-the-age-of-23 club, which only has four other members. VIEW FROM THE DUGOUT: More for Roberto Martinez to get excited about as his young talents showed off their skills to devastating effect. Quite the contrast to how Remi Garde will be feeling – Villa struggled to get anything going in attack and looked vulnerable at the back throughout. MOAN OF THE MATCH: Villa’s defending – generally poor, and the way they failed to keep out the third goal was borderline comical. WHO’S UP NEXT? Bournemouth v Everton, November 28 (Premier League) Aston Villa v Watford, November 28 (Premier League) Aston Villa slumped to a heavy first defeat under Remi Garde in his second game in charge as braces from Ross Barkley and Romelu Lukaku condemned the Barclays Premier League basement boys to a 4-0 thrashing at Everton. Barkley put the Toffees ahead in the 17th minute, finishing at the far post when Brad Guzan turned Gerard Deulofeu’s effort his way. Lukaku then headed home in the 28th minute, before poor Villa defending allowed Barkley to add another three minutes before half-time. Lukaku notched his second just before the hour, with Barkley and Deulofeu again involved on an afternoon the young trio truly shone. While Everton boss Roberto Martinez will be delighted to see his team produce another impressive display after the 6-2 thumping of Sunderland last time out at Goodison Park, this was a hugely concerning spectacle for opposite number Garde, whose side remain five points adrift of safety at the foot of the table. Garde’s first game in the job, the 0-0 home draw with Manchester City, had made for an encouraging start, but the challenge facing the Frenchman was laid bare here as Villa’s winless run in the league extended to 12 matches – a sequence in which they have lost 10 times. Everton dominated possession from the off, and it was not long before they broke the deadlock. A flowing move started with Barkley delightfully flicking a John Stones pass to Lukaku, and the ball then moved slickly on to James McCarthy and out to Deulofeu. He sent it goalwards and Guzan was only able to parry it into the path of Barkley, who converted with ease. Ten minutes later Guzan pulled off a fine save to keep out Arouna Kone’s shot. But soon after he was beaten again as Deulofeu tried to play Lukaku in, Micah Richards’ block saw the ball break wide to Seamus Coleman and his chipped cross was headed in by the Belgium striker. Press Associationlast_img read more

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Queenstown, Richmond Youths win in Central Essequibo Under-17 tourney

first_imgQUEENSTOWN engineered an upset win against Bacchus Bulls last Saturday in the Central Essequibo-sponsored Under-17 competition. Playing at the Number 1 ground in Affiance, Bacchus Bulls were asked to take first strike on a seemingly underprepared pitch. Despite the conditions, national Under-17 captain Sheldon Charles was the lone bright spot in an otherwise disappointing batting display by the Bulls.Charles was in vintage mood smashing nine sixes and four fours in his majestic 79, but he received little support from the other end. The next best score was 16 from Govinda Toolsie as the Bulls were all-out for 157 in 35 overs.National Under-17 selectee Azizi Christiani had impressive figures of 4-19 from 8 overs bowling off-spin. He received admirable support from Perry Deane 2-2 and Randhi Raghubir 2-23.A firm opening stand of 78 between Romol Hubbard, who top-scored with 37, and Randi Raghubir 30, shifted the balance in Queenstown’s favour. However, when they departed, a mini collapse occurred, as they lost 6 wickets in quick succession. Charles with 2-11 and Raphael David 2-14 bowled accurately but in vain.It was the burly Azizi Christiani, though, who stepped in to smash an entertaining 26 that proved decisive as Queenstown held their composure to reach 158-6 in 29 overs for a memorable 2-wicket victory.At Reliance ground, the hosts were stunned by Richmond Youths who gained a 3-wicket win. Fluent half-centuries from Abdool Mohamed 52 (10×4) and Rovin Persaud 50 (8×4) propelled Reliance to 143 all-out in 38 overs.It proved not enough as Andy Dass 45 (7×4) and Jamal Stewart 36 (3×6, 2×4) batted enterprisingly to steer Richmond to 145-7 in 36 overs.The 40 overs round-robin competition will continue on Saturday as the teams battle for trophies and other prizes. (Elroy Stephney)last_img read more

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Barca Agree to Lower Rakitić Asking Price Amid Sevilla Interest

first_imgBarcelona are ready to sit down with Sevilla to discuss a move to take midfielder Ivan Rakitić back to Estadio Ramón Sánchez-Pizjuán.Rakitić left Sevilla back in 2014 after establishing himself as one of La Liga’s finest creators, but after a few stellar seasons at Camp Nou, the Croatia international is no longer a core part of Quique Setién’s side.His contract is set to expire in 2021, and Sport note that Barça have no intention of offering him a renewal, so they are ready to let him go this summer before he is able to walk away for free. They had hoped to raise €20m by selling Rakitić, but there’s an acceptance that nobody is going to pay that for an ageing midfielder with just one year left on his contract.Sevilla are at the front of the queue for Rakitić’s signature this summer, and the midfielder himself is keen to return to end his career with the club – but they would only be able to afford his wages and signing-on fee if they signed him on a free transfer.The 32-year-old is ready to see out the final year of his deal and leave on a free, at which point Barcelona will have paid him another load of his yearly €7.8m salary, so La Blaugrana are ready to lower their demands to try and get a deal done this summer.It seems highly unlikely that Barça will agree to let Rakitić go for free, but the idea of them dropping their asking price to avoid paying that whopping salary makes a lot of sense for a club looking to save money.Talks over Rakitić’s future have been put on hold until August after the Champions League comes to a close so as to ensure he remains focused on helping Barça win at least one trophy this season.Having already offloaded Arthur in exchange for Juventus’ Miralem Pjanić, Barcelona are keen to continue restructuring their midfield.Young Riqui Puig is expected to earn more minutes next season after impressing since La Liga’s return, and when you factor in Pjanić and the return of Frenkie de Jong from injury, it’s no wonder there may not be a place for Rakitić going forward.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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