Norway’s largest municipal pension fund Oslo Pensjonsforsiking (OPF) produced a 2.8% value-adjusted return on customer funds in the first three months of this year.This was driven by gains from infrastructure and equities, which generated 8.1% and 7.0% respectively. All asset classes produced positive returns, the fund reported.The Q1 portfolio return compared to a 0.3% return in first quarter of 2016.Åmund Lunde, OPF’s chief executive, said: “It is quite possible to create a good return for customers – also in the form of defined benefit pensions, but it requires good solidity and long-term management.” OPF said in its interim report that in 2016, it had finished a three-year build up of reserves to provide for lower mortality rates, having put aside NOK246m (€26.3m) in that period.The conclusion of this provisioning process had improved results in the pensions insurance division by NOK20-21m each quarter in a year-on-year comparison.The company’s solvency capital rose 4% in absolute terms in the first quarter, but ticked lower as a ratio to 482% in the first quarter from 490% at the end of 2016, after the capital requirement increased by 6% since the end of last year.Total group assets increased to NOK85.8bn at the end of March.Sweden’s AMF warns on interest rate impactIn other Nordic news, Sweden’s second largest pension fund AMF posted a 2.5% return in the first quarter on the back of buoyancy in domestic and foreign equity markets.In the same period last year, AMF’s investments lost 0.7%.Javiera Ragnartz, CIO at AMF, said: “The period was marked by improved growth in the world economy and good economic development at home, which contributed to strong development for Swedish as well as foreign equities.“At the same time, low interest rates continue to pose challenges because uncertainty about long-term economic development persists, and there are a number of political risks which could affect the markets in the future.”AMF’s solvency ratio dipped to 193% at the end of March from 199% at the end of December.The group’s total assets under management rose to SEK582bn (€60.4bn) from SEK563bn at the end of December.
WEST Indies invitee Raymon Reifer has credited an environment that fosters self-expression and creativity as crucial ingredients of Guyana’s recent dominance of the Regional 4-day competition.Despite being born in Barbados, Reifer has spent the last four seasons plying his trade in Guyana. During that time the Jaguars have been the team to beat in the four-day format, winning three out of the last four seasons.The Jaguars have also in addition seen talents like Reifer, Vishaul Singh and Shimron Hetmyer hovering in and about the West Indies squad. The recent success, the Barbadian national believes, is a direct product of a healthy environment for cricket.“I think the environment in Guyana is right for producing international cricketers and I think we will continue to produce great players for Guyana and West Indies like we have seen in the last three years. I think if you look around the Caribbean, to me Guyana has the best set up because they allow you express yourself and the team is still winning,” Reifer told the Guyana Times in a recent interview.Reifer was recently called to West Indies squad for the tour of England but only managed to play warm-up games for the West Indies Cricket Board (WICB) President’s XI versus the likes of Pakistan, Leicestershire, Kent and England.The player has been again been included in the Test squad ahead of the series against Zimbabwe. (Sportsmax)
Former Chelsea Captain, John Terry, has admitted missing Super Eaglesâ€™ Captain and former teammate, John Mikel Obi.The Aston Villa captain, who played alongside the Nigerian at Stamford Bridge for 11 seasons where the pair won the Champions League, Premier League, among other titles, took to the social media to reveal how much he misses playing with Mikel. Mikel, who is on holiday with his family as the Chinese League is on break, posted a picture of his two daughters and wrote: “My love bugs.”In his reaction, the former England captain wrote beneath the post: “Looking well old boy@mikel_john_obi, missing ya mate. Send my love to the family (sic).”John Terry is currently recovering from injury and will wish to still file out one more time with the Nigerian skipper, but Mikel has however ruled out a return to England any time soon.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram