‘Turbulent’ markets hit first-quarter returns at Sweden’s Alecta

first_imgJust over half of the portfolio (52%) was invested in fixed income at 31 March, with 40% in equities and 8% in property.Magnus Billing, chief executive at Alecta, said: “Returns for both Alecta Optimal Pension and defined benefit insurance were negatively affected by sharply falling share prices.“Nevertheless, Alecta is well equipped for the more challenging profit environment of the future because of its stable finances.“Our low management costs have helped our success in offering good pensions, and our cost efficiency continued to improve, compared with the corresponding period last year.”In the five years to the end of March, Alecta Optimal Pension’s average annual return was 9.1% per year, 3.8 percentage points more per year than the benchmark index for the same period.For the DB product, the average annual return has been 7.2% over the same five years.However, Alecta’s solvency ratio fell by 11 percentage points to 160% over the first quarter of 2016, but this is still strong, said the company. Swedish occupational pension provider Alecta returned -2.4% on its defined contribution (DC) product, Alecta Optimal Pension, for the first quarter, compared with 11.1% for the same period in 2015.While the company refers to the “turbulent” period in stock markets from January to March, it said the return was slightly better than that of the benchmark index, the Morningstar SEK Aggressive Balanced Fund.At 31 March, the DC product had 61.3% in equities, 30.1% in fixed income and 8.5% in property.However, the defined benefit (DB) portfolio fared better, returning 0.9%, although this was also a large fall from the 7.8% return for the same period last year.last_img read more

Songwriter members of ECCO demand more

first_img 21 Views   no discussions Share LocalNews Songwriter members of ECCO demand more by: – June 26, 2012 ECCO’s Chariman, McCarthy MarieThe 3rd Annual General Meeting of the Eastern Caribbean Collective Organisation for Music Rights (ECCO) Inc. was held Saturday 23rd June, 2012 under the theme ‘Monetizing the Musical Experience with Accelerated Growth’. Whilst the meeting was held in St. Lucia, members outside that territory were able to participate in the meeting by on-line conferencing technology.ECCO reported on the achievement of a 27% growth in licensing revenue (mainly from its operations in The Common wealth of Dominica & St. Lucia) and its achievement of a reduction in administrative expenses during the same 2011 accounting period. This achievement which has enabled the organisation to double the distributable revenue due to members and affiliates to over $400,000 was roundly applauded by members at the meeting. However, members were adamant that ECCO should speed up legal action against unlicensed music users especially the electronic media who owe the society over a million dollars in outstanding royalties. This echoed the sentiments of ECCO’s umbrella organisation the International Confederation of Authors and Composers Societies (CISAC) (www.cisac.org) who in a recent audit of ECCO expressed surprise at the low level of lawsuits the organisation had outstandingMembers also voiced great concern in several other areas including; the low level of airplay of national and regional music, the continuing scourge of music piracy and the low level of awareness of intellectual property rights. Members called on ECCO to seek partnerships with state institutions in the OECS such as; the Ministries with responsibility for Tourism, Heritage and Creative Industries; Trade and Investment; Technology; Education; Intellectual Property and Legal Affairs to work on joint ventures to address these challenges.With 4 Director positions to be filled by Order of the Board, the new Board of Directors of ECCO is made up of the following persons: McCarthy Marie (Commonwealth of Dominica)Isha Antoine-Andrews (Grenada)Joffre Venner (St Vincent & the Grenadines)Eustace Crispin d’Auvergne (St. Lucia)Gandolph St Claire (St. Lucia)Francis De Lima (St. Lucia)Gaspar Llewellyn Gill (St. Lucia)Ian Sanchez (St. Lucia)The 1st meeting of the new Board is scheduled for Sunday 22nd July, 2012 in St. Lucia which will be preceded by a members meeting held the previous day.Press Release Sharecenter_img Tweet Share Sharing is caring!last_img read more

Gibson raring to go for Ireland

first_img He said: “Being out for 10 months last season gave me a lot of time to think about things, and I think this is now or never, really, to be honest with you, so I am looking forward to the task ahead. “It just made me realise that I’m not getting any younger. I need to start playing games and I need to start doing well for myself. It’s a big opportunity for me.” Gibson’s misfortune struck in October last year when he collapsed in agony during the first half of Ireland’s 3-1 World Cup qualifier victory over Kazakhstan and was carried from the field on a stretcher. Scans quickly confirmed damage to his anterior cruciate ligament, condemning him to surgery and a lengthy period of rehabilitation. The former Manchester United midfielder had only just returned to the Republic fold having been recalled by caretaker manager Noel King following Trapattoni’s exit. Gibson travelled to the Euro 2012 finals, but did not taste a single minute of action in Poland and Ukraine, and his response was to reluctantly make himself unavailable to his country. As a result, he is eager to make up for lost time with the Euro 2016 qualifying campaign due to get under way in Georgia on Sunday. Gibson said: “It was the second game back, wasn’t it? It was tough for me, I was devastated when I did it. But the staff and players at Everton helped me through it. Darron Gibson admits it is a case of “now or never” as he attempts to establish himself as a regular in the Republic of Ireland team. The 26-year-old Everton midfielder will pull on the green shirt for Wednesday night’s friendly against Oman at the Aviva Stadium 10 months after his last appearance there ended in agony as he suffered the cruciate ligament injury which has sidelined him for much of the intervening period. Injuries and Gibson’s disenchantment with former manager Giovanni Trapattoni have limited the senior international career to 21 caps, and he knows his latest opportunity under current boss Martin O’Neill is one he cannot afford to pass up. “Being out for 10 months is tough. The hardest thing was going every week to Goodison [Park] and watching the lads knowing I should have been playing, and there was not really much I could do about it. “But the physios are good there and the staff are good, and they helped me through it. “It is very hard. You want to be playing and training every day. It takes a bit of getting used to, but after a couple of months, I got round the idea that it was a long-term injury and I just got my head down and focussed on getting through it, and thankfully I’ve come out the other end.” O’Neill, who replaced Trapattoni in November last year, will have Gibson at his disposal for the first time on Wednesday evening, and he is looking forward to having another potential key player in his squad. The 62-year-old said: “He’s obviously a very, very decent footballer. He hasn’t played that much, but he’s a very, very talented player. He looks comfortable, he looks in really decent shape. I am actually looking forward to seeing him play. “Whether he thinks half of a game or something like that is enough for him, I don’t know – most players always feel they are properly fit and fine. These are the sort of decisions that the two of us will consider, maybe not just necessarily for this game, but for the tournament ahead. “Ideally, he would like to break in and get into Everton’s side – I think he is pretty well close to that – and that would be good, that would be great. But he is just coming back from long-term injury, so I think it’s just a matter of taking a little bit of time.” Gibson, who has spent the last few days working with boyhood hero Roy Keane in Malahide, could be forgiven for dreading a return to the spot on the Aviva pitch where injury struck, but he insists it will not be on his mind at all. He said: “I have thought about it, to be honest with you, but no, I don’t think there’s any point. I am past the injury and my knee feels good, so I will not be thinking about it when I get on to the pitch. “I know exactly where it is, but I will not be thinking about it.” Press Associationlast_img read more