AP2 reports highest-ever results, makes 53% on Chinese equities

first_imgEva Halvarsson, chief executive officer of AP2, said: “All asset classes had a positive return and in particular, the world’s equity markets developed positively.”The fund’s Swedish equity portfolio returned a total 30.2%, while the developed markets foreign equity portfolio generated 31.7%. Emerging markets equities produced 19.9%.“The return on Chinese A shares was the fund’s best asset class with an annual return of 52.6%,” Halvarsson said.Over the years, she noted, AP2 had developed “unique expertise” in analysing the pension system’s development and needs in the future, in order to be able to construct the portfolio that provided the most benefit for the pension system.“In 2019 we have further supplemented the analysis by including the risks that climate change poses to economic growth,” she said.In its sustainability report – published alongside the annual report – AP2 said that looking ahead, it would continue to develop the integration of climate risk into its overall asset-liability management analysis.It also said it aimed to identify the main climate risks and opportunities for more asset classes, sectors and geographies, as well as finding out what their time horizon was.Having invested in green bonds since 2008 and included the environmentally-linked debt as a separate asset class in its portfolio since 2015, AP2 said it had now decided to lift the strategic allocation to green bonds to 3%, or just over SEK11bn.“During the year, there was continued strong growth in the market, with more issues and more organisations and companies issuing green as well as social bonds,” the fund said in its sustainability report.At the end of December, AP2 said it had over SEK14bn invested in green and social bonds. The first of Sweden’s mighty pension buffer funds to unveil 2019 results has announced its highest-ever results, generating SEK53bn (€5bn) in a bumper equities year when its holding of Chinese A shares produced a 52.6% return.Gothenburg-based AP2 also revealed it had increased its strategic weighting to green bonds to 3% last year from 1%, and included climate risk in its overall return assumptions, which form the basis for the choice of strategic portfolio.The other three of the main four government funds designed to back the Swedish state pension, AP1, AP3 and AP4 – all located in Stockholm – have yet to report 2019 results.Overall, AP2 said it made a return after costs of 15.9% last year, with total assets growing to SEK381.3bn by the end of December.last_img read more

Statoil Becomes Equinor

first_imgStatoil has officially changed its name to Equinor as part of a commitment to developing as a broad energy company. At the annual general meeting held on 15 May, the company’s shareholders approved the proposal for the name-change presented by the board of directors in March.The company has been registered under the new name in the Norwegian register of business enterprises (Foretaksregisteret) and the Oslo Stock Exchange (Oslo Børs) has also updated its information accordingly, with the shares quoted under the new name and the ticker now reading EQNR.At the meeting, a shareholder also suggested that the board should present a strategy for business transformation from producing energy from fossil sources to renewable energy to ensure the company’s long-term sustainability and shareholder value, however, the proposal was declined.Even though now former Statoil retains oil & gas as the backbone of its business, the company’s new name is said to reflect the fact that it is involved in a broader energy market, especially involving renewable energy.The company is very active in the offshore wind sector, with shares in the Arkona offshore wind farm in Germany, as well as Sheringham Shoal, Dudgeon and Dogger Bank in the UK, and is the majority owner and operator of the world’s first commercial-scale floating wind farm, Hywind Scotland.The Norwegian company has also signed an agreement with Polenergia to acquire a 50% interest in the Bałtyk Środkowy III (BSIII) and Bałtyk Środkowy II (BSII) projects in Poland, and is expected to finalize a power purchase agreement with a US utility by the end of the year for an offshore wind farm in the states.last_img read more

MAXI CURRAN IS NEW BOSS OF ST EUNAN’S SENIOR TEAM

first_imgMaxi Curran (right) in his days with the Donegal management team.FORMER Donegal senior squad mentor Maxi Curran is the new manager of St Eunan’s senior football team, the club has announced.Following a day of speculation and rumours in Letterkenny, St Eunan’s confirmed the appointment.Maxi brings a great deal of experience to the position having been part of Jim McGuinness’ backroom team between 2010 – 2013 when Donegal won 2 Ulster SFC titles, 1 Ulster U21 title and of course the historic All-Ireland SFC crown won in 2012. He has also managed the Donegal U21’s since 2012 as well as being involved with several club sides both here in Donegal and further afield over the better part of the last decade.Said a club spokesman: “We know that he will bring great expertise to the job and a hunger to do well. Maxi is currently putting together his backroom team and we wish him every success.“We would also like to take this opportunity to thank Eamon O’Boyle for his hard work and dedication over the last two years where he delivered another Senior Championship for the club as part of the management team with Michael McGeehin and Brendan Devenney and two All County League Div. 1 titles and we wish him well in the future.”  MAXI CURRAN IS NEW BOSS OF ST EUNAN’S SENIOR TEAM was last modified: January 7th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalMaxi Currannew managerSt Eunan’s GAA clublast_img read more

UK Court Permits Seizure of Vijay Mallya’s Assets

first_imgA significant amount can be expected to be gathered through the sale of Vijay Mallya’s London assets, State Bank of India Managing Director Arijit Basu said on July 6, a day after a court in the United Kingdom granted permission to authorities to search the Indian businessman’s home at Hertfordshire and seize his assets. SBI is working closely with counsels in London to ensure that the money is recovered, Basu said, the Financial Express reported.A UK enforcement officer “may use reasonable force to enter the property if necessary,” according to an order passed by Justice Bryan at the Queen’s bench division of the Commercial Court in London, the Hindu reported. The High Court Enforcement Officer or other enforcement agents acting through their authority may enter Mallya’s residence at Ladywalk, and Bramble Lodge in Tewin, Welwyn, and take control of his assets, the report cited the order as saying.“The High Court Enforcement Officer, including any enforcement agents acting under his authority, may enter Ladywalk, Queen Hoo Lane, Tewin, Welwyn and Bramble Lodge, Queen Hoo Lane, Tewin, Welwyn, including all outbuildings of Ladywalk and Bramble Lodge to search for and take control of goods belonging to the First Defendant (Mallya),” the June 26 order by Justice Byran said, the Times of India reported.The court order comes in connection with the case filed by a consortium of 13 Indian banks, including the State Bank of India (SBI) against Mallya, who is facing money-laundering charges in India.“We are looking at recovering our entire debt from Vijay Mallya. The UK (United Kingdom) court enforcement order is a world-wide freeze order,” Basu told CNBC TV18 in an interview.India is seeking extradition of the liquor tycoon from the United Kingdom over accusations of fraud and unpaid loans worth about Rs 9,000 crore that his now-defunct Kingfisher Airlines owes to the Indian banks. Mallya fled to the United Kingdom in March 2016, soon after investigations against him in India gathered momentum. India’s case seeking his extradition is scheduled to come up for hearing in a UK court on July 31.A UK High Court last month ordered Mallya to pay a minimum amount of £200,000 towards costs that have been incurred by 13 Indian banks in their legal bid to recover their alleged dues, PTI had reported at the time.The 62-year-old businessman may be declared a “fugitive economic offender” in India, even as the Enforcement Directorate seeks to attach his assets worth Rs 12,500 crore in the country. Mallya has denied the charges of fraud, and offered to clear his dues by selling his assets last week. Any objections to his efforts to sell his assets by Indian authorities will “clearly demonstrate that there is an agenda against me beyond recovery of dues to Public Sector Banks,” Mallya said in a statement, adding, “I have become the ‘Poster Boy’ of bank default and a lightning rod of public anger.” Related ItemsState Bank of IndiaUnited KingdomVijay Mallyalast_img read more