Late surge in investment returns rescues Ilmarinen’s 2016 result

first_img“During the year, we reduced fixed income investments and increased investments in real asset classes,” he said. “We continued to diversify our real estate investments abroad and invested in new properties in Frankfurt, Berlin and Amsterdam, among other places.”The market value of Ilmarinen’s portfolio rose to €37.2bn by the end of December, from €35.8bn a year earlier.Equities were the best performers among the main asset classes despite market volatility, Ilmarinen reported, returning 6.5%.Investments in listed Finnish equities returned more than 15% in 2016, Ritakallio said, adding that US and emerging economy equities had also performed well.“However, investments in other European equities and shares lowered the overall return on the equity portfolio,” he added.Solvency capital was 29.2% of the technical provisions in 2016 compared to 29.6% the year before, and the solvency position remained at two times the solvency limit.Ritakallio also said implementation of Finnish pension reform had got off to a smooth start at the company.“It will be interesting to see how the reform will impact retirement in the long run and how Finns will make use of the new pension types,” he said. Finland’s second largest pensions insurer Ilmarinen recovered from early losses to report 4.8% in overall investment returns for 2016.The return was lower than 2015’s 6% gain, with European equities a drag, according to Timo Ritakallio, president and chief executive of Ilmarinen.“The Brexit referendum and the US presidential election fuelled political uncertainty, causing stock price volatility,” Ritakallio said. “Against this challenging backdrop, we reached a reasonably good investment return.”Ritakallio said the “good” full-year result was attributable to Ilmarinen’s long-term investment strategy, as well as diversifying investments both geographically and across various asset classes.last_img read more

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CHAN 2018: Nigeria, Ivory Coast, Cameroon, and 10 Others Qualify

first_imgNigeria secured a vital (2-0) win at the Sani Abacha Stadium in Kano to slightly edge out Benin Republic (2-1) on aggregate. Rabiu Ali and Kingsley Eduwo scored the goals in the first and second half respectively.At de Stade Modibo Kéïta, Bamako, Mali suffered a shock (0-1) defeat to Mauritania – which consequently eliminated the team with a (2-3) aggregate score.Trailing (1-2) from the first leg, Ivory Coast did enough to advance courtesy a (1-0) home win against Niger secured at the Stade Robert Champroux, Abidjan.Cameroon were commanding in qualification as they advance (4-0) on aggregate. Their first leg (2-0) away win was easily replicated at the Stade Ahmadou Ahidjo, Yaoundé against a hapless São Tomé and Príncipe side.List of countries who have secured places at the Total 2018 African Nations Championship:Kenya (hosts), Congo, Libya, Morocco, Cameroon, Nigeria, Uganda, Zambia, Angola, Equatorial Guinea, Mauritania, Sudan, and Ivory Coast.There are 3 more slots available for selection;Fixtures:Sunday (20th August 2017)Ghana vs Burundi (2-2 agg)Namibia vs Comoros Island (1-2 agg)Tuesday (22nd August 2017)Guinea vs Senegal (1-3 agg)The 2018 Championship will hold between January 11 to February 2 in Kenya.RelatedThe chase for a place at the 2018 African Nations Championship intensifies.August 14, 2017In “AFCON Insider”CHAN Eagles Group Stage Opponents Revealed After Morocco DrawNovember 17, 2017In “Africa”CHAN 2018 Participating Teams ConfirmedAugust 24, 2017In “Africa”last_img read more

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Jamaicans Urged to Count Blessings

first_imgStory Highlights Ambassador to the United States, Her Excellency Audrey Marks, has called on Jamaicans at home and overseas to use the occasion of the country’s Independence to reflect on the many blessings for which the nation should be thankful. Ambassador to the United States, Her Excellency Audrey Marks, has called on Jamaicans at home and overseas to use the occasion of the country’s Independence to reflect on the many blessings for which the nation should be thankful.The Ambassador, in a message delivered by Minister-Counsellor at the Embassy, Nicolette Williams, at the Jamaican Association of Maryland’s (JAM) annual Independence gala in Baltimore on August 4, said that notwithstanding the challenges, Jamaica has continued to maintain a stable and vibrant democracy.She noted that there have been significant economic gains, citing the reduction in the inflation rate, increase in the net international reserves (NIR), reduction of the unemployment rate to 9.6 per cent in January 2018 resulting from the creation of 22,000 additional jobs, and growth of 1.4 per cent for the January to March 2018 quarter.She expressed the hope that as Jamaica celebrates its 56th anniversary of Independence “we will become more united in our joint efforts to tackle the challenges we face in making Jamaica the place of choice to live, work, raise families and do business.”Meanwhile, Ambassador Marks commended JAM for 30 years of devoted service to Jamaica and the city of Baltimore.She said the members continue “to give selflessly, as well as volunteer time and resources towards the well-being of the wider Jamaican family and the Jamaican community in Baltimore.”The Jamaican envoy, who is also Permanent Representative to the Organization of American States (OAS), said she is pleased with JAM’s efforts to invest in children through the provision of 75 Claude McKay scholarships since the organisation’s inception in 1988.“Your services and unwavering commitment to fellow Jamaicans…to promoting our culture and heritage while advancing the welfare of our fellow citizens in Jamaica and Maryland is most commendable,” she added.JAM’s Marcus Garvey Universal Negro Improvement Association (UNIA) Award was presented to Philanthropist Cecil Clarke, while the Community Service Award went to President of the Marcus Garvey Foundation, Dermoth Brown and Pastor of Faith Gospel Church, Ezra Sterling.center_img The Ambassador, in a message delivered by Minister-Counsellor at the Embassy, Nicolette Williams, at the Jamaican Association of Maryland’s (JAM) annual Independence gala in Baltimore on August 4, said that notwithstanding the challenges, Jamaica has continued to maintain a stable and vibrant democracy.last_img read more

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Anwars The Storm threads together stories of colonialism migration and communal hatred

first_imgArif Anwar, author of The Storm. Each story within The Storm becomes interconnected as their crisis points draw near. Twitter LEAVE A REPLY Cancel replyLog in to leave a comment Login/Register With: In 1970, a catastrophic cyclone hit the shores of East Pakistan (now Bangladesh), resulting in the deaths of over a half million people. This unimaginable tragedy moors Toronto-based Arif Anwar’s first novel, The Storm.The Storm covers an almost fifty-year-period, starting in an unnamed village just before the cyclone, and then going back and forth in time from pre-partition Kolkata to the Japanese invasion of Burma during the Second World War to post-9/11 Washington, D.C.center_img Advertisement Advertisement Facebooklast_img read more

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