​Velliv reins in equities exposure on 2020 growth jitters

Posted On Sep 29 2020 by

first_imgThe MSCI World index fell by 3.6% in euro terms over the course of 2018, but since the start of 2019 to 1 April the index rose by 16.1%.Velliv reported that, although DKK100 of customer savings at the beginning of 2018 had fallen to roughly DKK95-96 by the end of last year, it had risen to DKK103 at the end of March 2019.Christiansen said: “The development clearly shows that one must be careful not to think too short-term. Patience pays off.”He added: “There is a prospect of a good ending to the trade war between China and the United States. At the same time, the Chinese are doing everything to stimulate their finances. Finally, the US central bank has clearly signalled that it is no longer so busy raising its interest rates.”To illustrate the strength of long-term returns, Velliv reported that its VækstPension Aktiv product, with medium risk and 15 years to retirement, produced an accumulated return of 100% over the past 10 years, despite the loss in Q4 2018.Velliv had DKK219bn (€29bn) in total assets at the end of last year. Danish pension fund Velliv is to slow down the pace of its investment into equity markets because of uncertainty around economic growth that it predicts is looming on the horizon next year.The fund, which changed its name last year from Nordea Liv & Pension Denmark, said market returns in the first few months of 2019 had more than made up for the investment losses it reported for 2018.This recovery was due in part to the pension fund’s strategy of investing customers’ savings in a higher amount of equities this year, Velliv said, after turbulent financial markets in the fourth quarter of 2018.Anders Stensbøl Christiansen, CIO of Velliv, said: “In light of the significant increases in the stock markets in just two months, we are now slightly slowing down the share portfolio – also because in 2020 we see some uncertainty about global economic growth.”last_img read more

West Genesee, Marcellus girls win; Ludden falls to South Jefferson

Posted On Sep 17 2020 by

first_img Tags: Bishop LuddenJ-EMarcellusskaneatelesSolvayWest GeneseeWesthill Amid the activity in area girls basketball before the holiday break, West Genesee took out some early-season frustrations while welcoming back its alumni.All of this took place during the Wildcats’ game last Thursday against Corcoran, where after a defeat to Liverpool earlier in the week it came out roaring in a 74-39 win over the Cougars.Up 20-5 through one quarter, WG didn’t let up until it had established a 60-28 margin by the end of the third quarter, doing so with just a single field goal from Catie Cunningham.It was Molly Benetti leading the way thanks to her 16 points as Meredith James earned 12 points. Molly Coyne had seven points as Julia Logana, Emma Garvey, Isabella Commesso and Ellen Kearney had six points apiece.That same night, Westhill continued to go through its own early-season ups and downs, unable to recover from a rough start in a 55-45 defeat to Cazenovia.The Warriors, who fell to 2-3 on the season, were held to four points in the first quarter, and though it stayed within touch through the game’s middle stages, the Lakers were able to pull clear in the closing minutes.No one on Westhill could contain Cazenovia’s Harvard-bound senior forward, Lindsey Lawson, who poured in 28 points, more than twice the total of Jenna Larrabee, who had 13 points. Catherine Dadey had nine points, with Erica Gangemi and Jada Doss earning eight points apiece.Moving to Friday’s action, Marcellus traveled to Homer and was dominant in a 70-34 victory over the Trojans, the Mustangs building a 34-20 edge by halftime and then erupting for 25 points in the third quarter to pull further away.This was a showcase for Hannah Durand and Katie MacLachlan, both of whom set career marks. Durand poured in 29 points, while MacLachlan gained 23 points.As that went on, Solvay faced Jordan-Elbridge, and the Bearcats would improve to 4-1 on the season, earning a 47-27 victory over the Eagles.Defense helped Solvay throughout the game as it held J-E under 10 points in each of the last three quarters.Ryleigh Bidwell had nine points and 13 rebounds, with Gianna D’Agostino getting 13 points. Isabella Macauley and Kaya Watts had seven points apiece as Haley Muehl had six points.Then, on Saturday, Bishop Ludden, who with its 5-0 start had risen to no. 6 in the state Class A rankings, went up north to challenge state Class B no. 1-ranked South Jefferson.It turned out rough for the Gaelic Knights, who fell 60-38 to a Spartans squad who leaned heavily on Jackie Piddock.Hitting on all kinds of shots, Piddock poured in 35 points, adding six assists and four rebounds. She helped South Jefferson, up 32-19 at halftime, outscore Ludden 20-4 in the third quarter to get away.Share this:FacebookTwitterLinkedInRedditComment on this Story last_img read more

Expert team to review Guyana Gold Board Lab operations appointed

Posted On Jan 12 2020 by

first_imgFollowing grave concerns for the safety of workers and residents within the Guyana Geology and Mines Commission (GGMC) compound and its environs after recent incidents of elevated mercury emission in said compound, a team to review the operations of the company’s laboratory was recommended by Natural Resources Minister Raphael Trotman.Dr David SinghThat team has now been appointed to examine and report on all aspects of the functionality of the Guyana Gold Board’s laboratory, and to make recommendations for its efficient, secure, and environmentally safe operations, including its relocation.Headed by Dr David Singh, Executive Director of Conservation International, the appointed Committee, which includes a retired Assistant Police Commissioner and members from both the GGMC and Gold Board, has been also tasked with examining a secure site for the relocation of the said laboratory.They will commence work on April 18 and are expected to give a detailed report of their findings within a one-month period.An Air Quality Monitoring study, which was conducted by Kaizen Environmental Service Limited, showed that the mercury level in GGMC’s compound was in keeping with the United States Occupational Safety and Health Administration standards.Despite the finding, however, Minister Trotman made the recommendation for the lab to be reviewed by an expert team.This decision was made by the Minister, who said that the “health and safety of persons utilising the compound, primarily the workers, are of paramount importance”.As such, he proposed “an expert’s review for the functions of the Gold Board’s lab to see how it could be made to better function, where it should be situated, what scientific and other methodology should be used and deployed to ensure that safety comes first for both the workers in the lab and those who are around the lab.”Mercury is used to purify gold from ore in a process called amalgamation. The laboratory is used to burn amalgam mixture to rid the gold of mercury.This process can be very dangerous and lead to significant mercury exposure and health risks.last_img read more