​PensionDanmark cuts bonds, adds to real assets in face of low yields

first_imgTorben Möger Pedersen, CEO, PensionDanmarkThe high return was due to significant growth from stock markets in the period and rising bond prices as a result of falling yields, the fund said. It also cited stable returns on credit, real estate and infrastructure investments.Möger Pedersen said it was even more important in a low-return investment environment to keep costs down. PensionDanmark’s work on digitalisation by using robot technology and artificial intelligence had aided this effort, he said.The pension fund reported a rise in contributions to DKK6.3bn between January and June this year, from DKK6bn in the same period in 2018. Total assets grew to DKK257bn at the end of June, from DKK240bn at the same point in 2018. PensionDanmark has made further cuts to its government and mortgage bond holdings in favour of real assets, in a bid to temper the impact of low interest rates.In its interim results, the Danish labour-market pension fund reported a rise in pre-tax investment returns for the first half of 2019, to 9.6% and 6% for 45-year-olds and 67-year-olds, respectively. This compared to 0.5% and 0.6% for the age groups in the first half of 2018.Torben Möger Pedersen, PensionDanmark’s chief executive, said: “Of course we are pleased with the great return in the first half of this year. Looking ahead though, we are probably looking at a longer period with low – even negative – yields, waning economic growth and significant geopolitical uncertainty as a result of factors including the trade conflict between the US and China, and Brexit.”Because of this, he said, investors had to adjust to the returns on pension savings becoming markedly lower in the next few years than they were in the last decade. “Our reaction to the low yields is a further reduction in our investments in traditional government and mortgage bonds and continued growth in our investments in sustainable real estate and infrastructure in order to secure a satisfactory return for our members in a zero-interest rate environment,” said Möger Pedersen.In July this year Denmark became the first developed economy to record negative yields on all its government bonds across the yield curve, according to Reuters.Nordic 10-year government bond yieldsChart MakerPensionDanmark reported an overall investment return at this year’s halfway point of DKK17.5bn (€2.3bn) before tax – its highest ever half-year return – compared with DKK1.1bn the year before.last_img read more

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Tokyo Olympics: FIFA raises age limit for men’s football to 24

first_imgFIFA has raised the age limit to 24 for the men’s football tournament at next summer’s rearranged Olympics. The tournament is usually for under-23s, but the governing body has made the change to allow players who were eligible for the Tokyo Games this summer to still take part next year. Any player born on or after January 1, 1997 will be able to play, plus the three allocated over-aged players. The men’s tournament will kick off before the July 23, 2021 opening ceremony in Tokyo, while the women’s event has no age limit. FIFA has also called off all men’s and women’s national team games set to be played in June 2020 as the coronavirus pandemic still grips the world. falcons missed the ticket to tokyo 2020Advertisement FacebookTwitterWhatsAppEmail分享 Loading… The governing body had previously announced that it would not be compulsory for clubs to release players for those games, but now they have been wiped off the calendar. A dedicated Covid-19 working group made the decisions at their first meeting, as well as postponing the Under-20s Women’s World Cup in Panama and Costa Rica and the Under-17s Women’s World Cup in India. The 2020 Olympics originally billed for this year has been shifted to next year due to the rampaging effect of the coronavirus even as the world continues to look for a cure for the pandemic. When eventually the Olympics takes the centre stage Nigeria will be a spectator in both the male and female football event as she failed to pick a ticket for the event.  Both the Super Falcons and the Olympic Eagles were booted out in the qualifiers. Dream Team failed to make it after finishing third in their group in U-23 AFCON in Egypt. The Super Falcons on their part lost to their Ivorian counterparts in their two legged affair. The Christopher Danjuma tutored side had played a goalless draw in Abidjan and were expected to make mince of their opponents in the second leg at the Agege Stadium but that was not to be as they were held to a 1-1 draw thus kissing the ticket to Tokyo bye. Promoted Content9 Facts You Should Know Before Getting A Tattoo8 Best 1980s High Tech GadgetsThe Best Cars Of All TimeWhich Country Is The Most Romantic In The World?Is This The Most Delicious Food In The World?Best & Worst Celebrity Endorsed Games Ever Made8 Most Expensive (And Surprising Things) Keanu Reeves Ever Bought6 Natural History Museums That Have World’s Greatest CollectionsBirds Enjoy Living In A Gallery Space Created For Them7 Universities In The World With The Highest Market ValueCouples Who Celebrated Their Union In A Unique, Unforgettable Way6 Incredibly Strange Facts About Hurricaneslast_img read more

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