AP4’s Ekvall calls for AP funds to have direct investment tools

first_imgThe chief executive of Sweden’s AP4 has called on the country’s legislators to give the funds the direct investment tools they need to make use of proposed new investment freedoms.Niklas Ekvall said in the fund’s newly-published annual report: “We are to be given the opportunity but not the tools, which we find hard to believe is the intention.”He referred to the proposed change in the investment rules for Sweden’s five AP funds, which invest capital to support the country’s first pillar pension schemes. The rules are currently going through the legislative process.Ekvall praised the proposal for allowing more flexibility in terms of allocation between different types of investment, with the key elements being a reduced requirement to hold liquid and high-quality interest-bearing securities and increased scope to invest in illiquid assets. “It is important, however, that this modernisation at the allocation level is followed by the corresponding level of modernisation of investment and instrument types in order not to significantly limit the more flexible allocation mandate, and impose unnecessarily expensive management,” Ekvall said. Niklas Ekvall, chief executive, AP4It was particularly important that the AP funds had the opportunity to make long-term and cost-effective direct investments such as joint ventures in unlisted companies, as well as investments in infrastructure, unlisted loans, and long-term sustainable assets.Ekvall made similar comments in the pension fund’s consultation response last autumn.The reform – part of a broader pensions overhaul in Sweden – is scheduled to take effect this summer.In financial results, AP4 reported it made a 9.1% net return on investment in 2017, on the back of “generally favourable performance for the global equity markets”.This return matches the return posted by AP2 earlier this month.AP4 said it would continue developing sustainable investments in its focus areas of climate, environment, and corporate governance.“Our low-carbon strategies increased to almost 31% of the global equity portfolio during 2017,” Ekvall said. This compared to 24% of the portfolio a year earlier.He said AP4 intended to increase these investments further and also widen the scope of sustainable investments.“We are doing this to lower the risk in the portfolio and create conditions for better returns,” he said.AP4’s total assets increased to SEK356.6bn (€35.6bn) at the end of 2017, from SEK333.9bn a year earlier.last_img read more

Cadiz drug bust nets 5 suspects

first_imgThe suspects were caught after theyallegedly sold suspected shabu to an undercover officer around 11 p.m. on Nov.29, a police report showed. They were detained in the lock up cellof the Cadiz City police station, facing charges for violation of Republic Act9165, or the Comprehensive Dangerous Drugs Act of 2002./PN BACOLOD City – Five persons werearrested in a drug buy-bust operation in Barangay Daga, Cadiz City, NegrosOccidental. center_img Police identified them as Kim Villacarlos,21; John Christopher Revero, 18; Nino Bonganon Rebamonte, 21; John Wayne Tabale,20; and Jude Remeda, 30. last_img

Tipp lose out to Clare in hurling league opener

first_img6,277 fans watched on as Tipperary’s senior hurlers went down at the hands of Clare this afternoon in a physical competitive encounter.A good start to the game from Tipp slipped quickly, and half time saw Clare lead 13 points to 10 – both teams with 7 wides each at that stage.Tipp brought the gap back to 1 point in the closing stages of the second half but a point, followed by a goal in the final play of the game from Clare’s David Reidy ended Tipp’s hopes of a win, and it finished up Clare 1-21 Tipperary 0-19. On a positive – Cathal Barrett and Ronan Maher in their new midfield partnership, as well as stallwarths Noel McGrath and Jason Forde faired well for the Premier this afternoonSpeaking to Tipp FM Tipp manager Michael Ryan says Clare finished the game well…Meanwhile, Clare joint manager Donal Moloney said Tipp pushed them all the way, but their preparations stood to them…last_img read more

Stephen F. Austin’s ‘biggest’ win over Duke sends clear signal to college hoops critics: November matters, too

first_imgIf this were another low-major program that had gone into Cameron Indoor Stadium and won, that statement would have been indisputable. But SFA has reached the NCAA Tournament five times in the past 10 years, and each of those appearances required a Southland Conference tournament final victory to assure the Lumberjacks of a bid.And they advanced in two of those years: They beat No. 5 seed VCU in overtime, 77-75, in 2014. Two years later, they throttled No. 3 seed West Virginia, 70-56, and advanced to a second-round game against Notre Dame they should have won to reach the Sweet 16.MORE: Stephen F. Austin hero’s family severely impacted by Hurricane DorianSo, was beating top-ranked Duke at Cameron Indoor Stadium — becoming the first non-conference opponent to win in that building since St. John’s did it in February 2000 — bigger than all of that?A Twitter poll I posted this morning indicated the public believes Collins was correct, that defeating Duke at Cameron was the biggest moment for SFA basketball. The margin was decisive, too: 65 percent for Duke, 35 percent for the West Virginia win in the 2016 NCAAs.Jason McIntyre of Fox Sports tweeted in favor of Tuesday night’s result: “Nobody like SFA has gone into Cameron and won in decades.”He has an excellent point there. St. John’s finished third in the Big East that year and ranked No. 9 in the AP poll. The Red Storm earned a No. 2 seed in the NCAA Tournament. To find a result similar to this for the Blue Devils, a home loss to a team from well outside the major conferences, one must travel all the way back to 1982-83, when they fell at Cameron to Wagner, 84-77. That Duke team was not ranked No. 1. That Duke team finished 11-17 — the last losing team Mike Krzyzewski coached from start to finish.Lots have beat Duke in March. Nobody like SFA has gone into Cameron and won in decades— Jason McIntyre (@jasonrmcintyre) November 27, 2019Adam Gold, who does the “Adam & Joe” afternoon drive program in the Raleigh/Durham region with co-host Joe Ovies, also voted for the SFA win at Cameron because “NCAA upsets happen all the time.”Last night because of the setting. NCAA upsets happen all the time. 14 over 3 uncommon, but not earth shattering. Winning AT CAMERON, and being as good as they were in the second half? Awesome.— Adam Gold (@AGoldFan) November 27, 2019“In almost every other circumstance, I would vote for the NCAA Tournament,” tweeted Derek Schultz of Indianapolis sports radio program “Query and Schultz.” But he opted for Tuesday night’s win because the Devils were No. 1 and owners of such a long home winning streak against non-league opponents. “Man, that’s about as historic as it gets for a regular season win.”In almost any other circumstance, I would vote for the NCAA Tournament victory.However, beating Duke who a) is #1; b) at Cameron; and c) to end a 150-game non-conference home win streak? Man… that’s about as historic as it gets for a regular season win.— Derek Schultz (@Schultz975) November 27, 2019We wrote two weeks ago, after Evansville’s historic upset win over No. 1 Kentucky at Rupp Arena, that the number of early entrants departing college basketball and the relatively meager national freshman class would have led to fewer truly elite teams in college hoops this season.Fewer meaning, well, none. But even those factors didn’t portend the kinds of results we are seeing for the top teams in the polls.The reaction to the Duke and Kentucky defeats could be considered an excellent development for college basketball in 2019-20, and not just for the legions of Devils and Cats haters. That so many would consider a November result to be monumental gives lie to the common refrain that NCAA basketball is a one-month sport.March is huge for the game, no doubt, but if this many people are paying attention before Thanksgiving, that cannot be a bad thing. Stephen F. Austin’s Nathan Bain let go of the layup that defeated No. 1 Duke with 0.2 seconds remaining in Tuesday night’s game.As the ball settled into the net, Fox Sports announcer Eric Collins shouted, “The Lumberjacks have done it!” Then he waited just a second or two longer before declaring, “This is going to be the biggest win in program history!”last_img read more

Opening act

first_imgThe 2010 baseball season has begun in Pittsburgh but if the Pirates aren’t careful, their heads may be the trophy hanging on the walls of a few MLB franchises. The season had some pomp and ceremony happening prior to the Los Angeles Dodgers taking the field. Pregame festivities profiled the first home game of the season by honoring Pirate outfielder Andrew McCutchen as the 2009 Baseball America Rookie of the Year. Pirates general manager Neal Huntington and Pirates manager John Russell presented McCutchen with a framed print to commemorate the event. In my opinion, McCutchen was brought up a year late. He should have been the 2008 ML Baseball America Rookie of the Year.Although extremely talented, McCutchen still has an innocence about him. He says, “Just to be able to wake up and say I’m in Pittsburgh and I’m opening up at home is great. It’s a dream come true for me just because it’s something new. I really can’t map out my No. 1 moment because it’s all been great—from opening day to just being in a Pittsburgh Pirate uniform. It’s all been an honor. It’s all been a dream.” Well, let’s hope that the dream doesn’t turn into a nightmare for the Pirates or their fans.Opening day is almost always a day of hope. Every team is 0-0, riding a no loss winning streak, tied for first place. At this embryonic point in the season every club is chasing a playoff spot and a imaginary world series ring.But let’s get to the game, in the top of the first, Pirates’ starter Zack Duke gave up a walk and two hits and before you could say “Dave Littlefield,” the Pirates were down 2-0.But in the bottom of the inning right fielder Garrett Jones went yard with a man on base and just like that it was a 2-2 ballgame. The Pirates triple outfield threat of McCutcheon, Milledge and Jones, if kept together and healthy, might cause a small bit of damage this season. There is always an air of optimism when the season begins. There is always a chance to do good things but eventually the cream rises to the top.I watched the Pirates during pre-game batting practice. There was an air of hope surrounding the club. When I watched the Dodgers warm up they had an air of expectation. It was if they expected to win. The Pirates must forego keeping hope alive, they must keep winning alive. They must stop staggering and start swaggering. They must cease being the opening act for MLB competition and become the headliner. Pittsburgh must become more “lumber company” and less “slumber company.” Hey, in case you didn’t know the Pirates beat the Dodgers by the score of 11-5. Hooray, the Bucs are undefeated.* * *Late last week somewhere in La-La land the Washington Redskins went goo, goo, ga, ga and went and got themselves a quarterback. Philadelphia Eagles QB Donovan McNabb was traded to the Skins for two unceremonious draft picks in 2010 and 2011. The 2009 starting QB for the Redskins, Jason Campbell, might as well begin to sing his final aria in the key of “S” because it is definitely soup time. Mr. Campbell was given many opportunities to lead Washington down the road to respectability but it seemed like he never really could grasp the complexities of an NFL offense nor could he adequately read NFL defenses. Now I know a few folks that have a color issue but that is asinine, to say the least. No I tell you McNabb just happened to ply his trade in a city that hates everyone and every team that does not deliver championships. This is a city that in the past had a sitting magistrate on site to deliver justice to the disenchanted rough- neck fans from the city of “brotherly love,” instantly and expeditiously.McNabb, with all his talent, just could never muster up enough “uumph” to finish the job. Also, when McNabb was transformed from the Michael Vick-like QB that he was when he was drafted out of Syracuse and forced to become a “pocket-back” something changed. The fiery, artful dodger, like atmosphere that he brought to the huddle, was subsequently squashed. His play on the field and his attitude in the huddle became more cerebral and less spiritual and spontaneous.That is what made McNabb exciting to watch. You could not figure out whether he was going to run or pass. Defensive coordinators were up all night with their acid reflux kicking in full gear not knowing which game plan to implement. The Eagles are going to miss Donovan. Head coach Andy Reid is going to miss Donovan. And if the one of the latest acquisitions for the “Skins” ex-Steelers running back “fast” Willie Parker sharpens up his pass catching skills, well Mr. McNabb may be just what the doctor ordered.(Aubrey Bruce can be reached at: [email protected] or 412.583.6741.)last_img read more