​Folksam’s foreign cull pays off, new chief warns of challenges ahead

first_imgSwedish pensions and insurance group Folksam says the halving of its foreign equities portfolio – an exercise the firm carried out last year to lower its carbon footprint – has been more effective than anticipated, and has cut carbon by 30%.Separately, in its 2019 results announcement, the firm’s new chief executive officer warned that there were challenges facing the company in the near future, in spite of the set of strong investment results it reported, with assets under management rising to SEK455bn (€43bn) from SEK404bn in 2018.Folksam said it had expected the decision – announced in May last year – to cull its SEK84bn foreign equities portfolio in order to achieve a 20% reduction in carbon emissions, but the move had in fact shrunk its carbon footprint by 30%.At the same time, the portfolio had beaten global stock markets, it said. Michael Kjeller, Folksam’s head of asset management and sustainability, said: “We are very pleased that the actual outcome has exceeded our expectations.”In the nine months of 2019 that the new portfolio had been in operation, its return surpassed that of global stock exchanges by between 1.3 and 1.5 percentage points, he said, adding that this positive outperformance trend had continued in early 2020.Reporting annual results, Ylva Wessén, Folksam group CEO, said: “In a changing environment, a higher rate of change is required in the business.”She highlighted three new areas of focus for the firm in the near future: an increase in digitisation; the need for increased pressure on companies to lower their carbon footprints in order to achieve net zero by 2050; and changing working methods and office structures within the company as a means of cutting operating costs to SEK5.3bn by 2022.Folksam reported total group premiums in 2019 rose by SEK1.7bn from the year before, to SEK56bn.Folksam Life, the life and pensions division, produced a 10.4% return in the year, up from 1.5% in 2018, with solvency increasing to 169% from 163%.Meanwhile, Folksam’s municipal pensions subsidiary KPA Pension reported a total investment return of 11.2%, up from 2018’s 0.5%, and a solvency ratio of 171%, increasing from 165% last year.Wessén was appointed in December as the permanent successor to the Folksam’s previous CEO Jens Henriksson, having been running the pensions and insurance group on a temporary basis since his departure at the end of last summer.last_img read more

Wu Lei repeats for the second year and wins the Chinese Golden Ball

first_imgWu Lei has achieved one of the purposes he was looking for in his career. In the next few hours it will be officially announced that the Espanyol striker is chosen for the second year in a row as the player of the Chinese year, an award he already received in 2018 thanks to the 27 goals he achieved in the Super League before his arrival at Espanyol . Lei is an icon in his country and this prize ratifies him as the most relevant player in a country that little by little wants to poke his head internationally.The Espanyol player has imposed himself in the votes to Yan Junling, goalkeeper who even played for the parakeet team when Roberto Jiménez finished his contract, and Elkeson Oliveira Cardoso, Brazilian with Chinese passport. The striker curiously returns this Sunday to the Ceramics Stadium, where he debuted in LaLiga last February.Wu Lei has not only become the first Chinese to score in the Spanish competition, but also to score in the Europa League in a league club and to mark Barcelona in an official match. That last goal earned Espanyol to score a point in the first meeting of Abelardo Fernández and 2020. With the arrival of Raúl de Tomás, the Chinese striker will have more competition in attack, but he hopes to continue contributing with his goals so that Espanyol will achieve salvation. Its signing, strategic at the time, has helped the entity increase revenue and its internationalization.last_img read more

EX-DONEGAL SOLDIER JAILED FOR SIX-AND-A-HALF YEARS FOR PSNI MURDER PLOT

first_imgBREAKING NEWS: A FORMER Irish soldier from County Donegal is beginning a six-and-a-half year sentence behind bars today after being jailed for his role in a dissident terrorist murder plot against a PNSI trainee.Ex-Irish soldier Gerard James McManus from Letterkenny and his pal Kevin Barry Nolan from Blacklion in Fermanagh originally denied various charges including the attempted murder of a student police officer, and possessing a gun with intent to endanger life in Garrison on November 21, 2009.The pair later changed their pleas and pleaded guilty to having a firearm with intent to endanger life. The two also admitted to possessing articles likely to be used in the preparation or instigation of acts of terrorism. The court heard these related to a car, a balaclava, gloves, lighters and soap.The charge of attempting to murder the PSNI officer will be left on the books.McManus (28) from Fernhill and 35-year-old Nolan, of Main Street, Blacklion were detained during an undercover police operation at the time.During a series of Magistrates’ Courts sittings, they heard that the two accused claimed they had no intention of shooting the trainee officer, only to scare him.They were allegedly spotted in a Vauxhall Astra approaching the man’s home before police moved in.McManus, wearing a balaclava allegedly went to the front door, while Nolan remained in the front passenger seat of the Astra, where he was later arrested, allegedly sitting on a magazine, loaded with 16 rounds for a Glock pistol.McManus escaped, running down the side of the house and firing off a shot.He was apprehended the following morning, in a garden shed. A mask and gloves were found in the shed, but no gun was ever recovered. During interview, both men maintained they had no intention of harming the student police officer.In his interviews Nolan, whose alleged role was to give McManus directions, claimed that as far as he was concerned: “No harm was going to be caused,” and that firing the gun was to “put the frighteners on him.”Today in Belfast Crown Court McManus was jailed for six and a half years, with a further six and a half years suspended on his release.Nolan got six years, with a further six years also on license.EX-DONEGAL SOLDIER JAILED FOR SIX-AND-A-HALF YEARS FOR PSNI MURDER PLOT was last modified: February 27th, 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:FermanaghGerard James McManusletterkennymurder plotPSNIlast_img read more