Nordic roundup: Varma poised to remain Finland’s largest pension fund

first_img“As a pension investor, we have seen the post-financial-crisis recovery in the markets for a long time now, but so far it has mainly only affected the investment markets,” he said.“The upswing has finally also reached Finland’s economy,” Murto said.Varma reported that its investments returned 4.7% in the first half, compared with a 0.3% loss in the same period last year.Keva cashflows turn negative Meanwhile, equities were the strongest-performing assets in the portfolio of Finnish local government pension fund Keva in the first half of this year, but the fund’s CIO warned that the long bull market might have negative consequences.The overall investment return was 3.7% in the January-to-June period — up from 0.9% in the same period last year, according to unaudited interim figures from the pension fund.Listed equities and equity funds produced a 7.4% return, fixed income investments returned 1.1% and real estate generated 2.6%, Keva said.Ari Huotari, Keva’s CIO said: “The first half of 2017 was like a continuation of last year, with equity markets continuing to rise to reach all-time highs in many markets.“However, it needs to be pointed out that the prolonged rise of many asset categories, especially the riskier ones, has also increased concern as to future development,” he said.Keva chief executive Timo Kietäväinen described this year as a remarkable one for the pension fund, as it was the first time that the amount of pensions paid out had exceeded the employer and employee contributions paid in.In rounded figures, the pension fund reported that contribution income during the first half had come to €2.5bn while €2.5bn had been paid out in the same period in pensions.Industriens Pension returns 3.7%Elsewhere in the Nordic region, Danish labour-market pension fund Industriens Pension reported its investments had yielded a 3.7% return overall, driven in particular by listed Danish and foreign equities. Karsten Kjellerup Kjelsen, CIO at the pension fund, said: “The financial markets were marked by some nice economic growth globally, and central banks continued their easy monetary policy.“This created good demand for shares and similar risk assets, among which emerging markets and Danish equities did particularly well,” he said.Danish listed equities were the strongest performing asset class for Industriens Pension, making up just over a tenth of its portfolio and returning 6.8% before tax in the period.Foreign listed shares, which account for nearly 30% of the portfolio, produced 7.8%.However, gilt-edged bonds, which make up 27% of assets, returned just 0.2% in the six-month period.Industriens Pension’s total investments grew to DKK157bn (€21bn) at the end of June from DKK150bn at the end of 2016. Finnish pensions insurance company Varma would still be the country’s biggest pension fund if the upcoming merger of its rival Ilmarinen with Etera were complete, according to figures Varma released for the first half of the year.According to results for January to June 2017, the market value of Varma’s investment portfolio reached a new record of €45.0bn at the end of June, just topping the combination of total assets reported for the same period recently by Ilmarinen and Etera, which were €38.5bn and €5.9bn respectively.Ilmarinen, Finland’s second largest private sector earnings-related pension provider, and smaller pensions insurer Etera announced in late June that their boards had approved a merger which is set to complete in January.Varma’s chief executive Risto Murto said domestic economic growth had been brisk in the reporting period.last_img read more

Sports today: Buhler wins Wellington tennis quad; WHS volleyball splits in Winfield; sports schedules…

first_imgFootball Friday! All games 7 p.m.Wellington at Goddard.Udall at A&A at Argonia.Belle Plaine at Cheney.Central/Burden at Caldwell.Conway Springs Bluestem.Sunrise Academy at Oxford.South Haven at Norwich. 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 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 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 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 by Tracy McCue, Sumner Newscow – The Wellington varsity tennis team placed third in the varsity quadrangular tournament held at Sellers Park, Tuesday. Conway Springs placed second. Also, the Wellington High School volleyball team split in Winfield Tuesday. Plus sports schedules….Buhler won the Wellington tennis quad with 25 points. Conway Springs had 18, Wellington 13 and Goddard Eisenhower 4.Both Wellington doubles teams went 2-1 and finished second losing in tiebreakers against the first place teams.In No. 1 singles, Dietra Sober placed third going 1-2 for the day. Noelle Wright, at No. 2 singles, got sick and had to injury default one of her matches.There was no stopping Conway Spring’s Heather Koester, who finished first going 3-0 for the day in No. 1 singles. She never lost a set, sweeping all three of her opponents 8-0. Kalie Jones placed second in No. 2 singles, winning two of three.The individual scores for Wellington and Conway Springs are as follows: No. 1 singles: Wellington – Dietra Sober lost to Koester, CS, 8-0; defeated Williams, Goddard Ike 8-4; lost to Badgett, Buhler 8-4.C. Springs – Koester defeated Sober 8-0, defeated Badgett 8-0, defeated Williams 8-4. No. 2 singles: Wellington – Noelle Wright lost to Kalie Jones, CS, 8-5; lost to Terry, GI, 8-4; lost to Nini Nguyen, Buhler by injury default.C. Springs – Jones defeated Wright 8-5; lost to Nguyen 8-6; defeated Terry 8-6.No. 1 doubles: Wellington – Kelsey Whaley-Peyton Adams defeated Pauly-Finstad, CS 8-5; defeated Dohmeier-Watson, GI 8-0; lost to Nachtiger-Steffen, Buhler 8-7 (7-3).C. Springs – Brittany Pauly – Kiana Finstad lost to Whaley-Adams 8-5, lost to Nachtiger-Steffan 8-3, defeated Dohmeier-Watson, GI 8-3.No. 2 doubles: Wellington – Maggie Fink – Madi Adams defeated Tiffany Wilson – Ashley O’Neal, CS 8-2; lost to Kendrick-Wiehl, Buhler 8-7(7-4); and defeated Stutzman-Daugherty, GI 8-3.C. Springs – Tiffany Wilson – Ashley O’Neal lost to Fink-Adams 8-2, lost to Kendrick-Wiehl, Buhler 8-0; and defeated Stutzman-Daugherty, GI 8-3.•••••WHS volleyball team split…The Wellington volleyball girls split at Winfield in a triangular on Tuesday.They started out with Rosé Hill.  After a slow start the girls got it together and played a much better match the second game.  They were defeated by the Rockets 25-10, 25-15.The Crusaders bounced back with fire and fight against Winfield.  The Crusaders defeated Winfield 25-15 and 25-8.“They played very scrappy and picked up a lot of balls,” said Cherity Elder, Wellington head girls volleyball coach. “ Abby Goodrum got to some volleyballs that seemed nearly impossible to get to.  They continue with their .500 record and are now 4-4 on the season!”•••••Area sports schedule…center_img Thursday, Sept. 5Wellington Middle SchoolFootball – Mulvane, home: 7th – 5 p.m., 8th – 6:30 p.m.Volleyball – Mulvane, home: 7th – 5 p.m., 8th – 6 p.m.Girls tennis – Goddard Eisenhower, home, 3 p.m.last_img read more