Torben Möger Pedersen, PensionDanmark’s chief executive, said: “2015 was a turbulent year, particularly on the listed markets.”In the light of this, the pension is satisfied with the year’s investment return, he said.In its annual report, PensionDanmark warned that, over the next few years, it expects a somewhat lower return than in 2015.“The time of very high returns is over,” Möger Pedersen said.He said this was partly because of the very low level of interest rates, and partly due to the fact equities went from being priced at low levels just after the financial crisis to current levels, where they are priced slightly on the expensive side.He said there were also a lot of factors indicating that there would be greater swings in returns in the future than had been the case in recent years.PensionDanmark’s quoted equities made a 7.7% return in 2015, outperforming the benchmark by 3.4 percentage points, according to the annual report.Corporate and emerging market bonds, however, finished the year with a 2.4% loss, falling short of the benchmark by 0.8 percentage points.Within unlisted assets, private equity generated 12.1% last year, while infrastructure returned 7.2% and property 8.7%.PensionDanmark said it expanded its investments in infrastructure and real estate over the course of last year, emphasising that these assets were less sensitive to the economic cycle.It had DKK18.8bn invested in infrastructure and DKK13.6bn in real estate at the end of 2015, amounting to 18% of its overall investment assets of DKK183bn.The pension fund said the growth in employment in Denmark had shown through in its annual figures, with regular contributions rising 6% to DKK10.8bn in 2015, and membership numbers climbing by 20,000 to 684,000. Danish labour-market pension fund PensionDanmark reported 2015 investment returns of less than half the prior year’s levels at just over 5%.It predicted the returns it would reap over the next few years would turn out to be still lower, partly because equity markets are now overpriced. In its annual report, the pension fund said pre-tax profit on investment assets dropped to DKK7.1bn (€952n) in 2015 from DKK16.1bn in 2014.The pre-tax return for scheme members aged 65 fell to 3% last year from 10.6% the year before, while that for 40-year-old members slid to 5.2% from 10.5%.
60 Minutes documentary about the work of Saving Downs and the New Zealand prenatal screening programme for Down syndrome.
The Milan Indians 7th Grade team were victorious against The Jac-Cen-Del Eagles 32-29. The Indians 8th Graders were also on the winning side 47-31. Courtesy of Indians Coach Ethan Voss.
“He’s one you enjoy watching because he’s a bit different.” Alan Irvine insists he does not fear the West Brom axe after meeting with chairman Jeremy Peace. The Baggies head coach has thanked Peace for his support as he comes under increasing pressure from supporters. Albion have lost their last four games and Irvine is favourite for the sack with some bookies but, after talking with Peace, remains unconcerned. “I spoke to the chairman after training but not about that and he didn’t speak to me about that,” he said. “He was great. I went to see him about a completely different matter. “We spent 15 minutes just chatting over different things and he was great, as he has been all of the time. “I’m really grateful for the support he’s given me. “I understand the way things are in this job. There’s a short-term culture nowadays and, if it’s not Alan Pardew getting stick, as he was six or seven weeks ago, it’s somebody else. “If it’s me at this time, hopefully I will be able to get to the situation Alan is in because it wasn’t that long ago I was at Stoke hearing people calling for his head. “They are such fine margins. We are not too far away from getting good results. “I don’t think anybody who has been at the last two games can think we are miles away from getting a good result. “We need some goals.” Captain Chris Brunt is out of the trip with a hamstring injury. The skipper limped off after making a tackle in Tuesday’s 2-1 defeat to West Ham, although Irvine is hopeful he will return next week. James Morrison (illness) and Sebastien Pocognoli (dead leg) are back but Jonas Olsson (Achilles) is out and Claudio Yacob serves the final game of a ban. Press Association Hull manager Steve Bruce is hoping fans will soon be able to see the real Sone Aluko make his mark on the Barclays Premier League. The Nigeria international was arguably the club’s best player in the first half of their 2012-13 promotion campaign before missing the rest of the season with an Achilles injury. Last term was equally frustrating, with his Achilles this time ruling him out for almost four months from October. But Bruce has never lost faith in a player he first worked with as a teenager at Birmingham, and has been desperate to see him back to form and fitness. He was handed a chance from the bench against Everton on Tuesday night, courtesy of the knee injury that is likely to sideline Mohamed Diame until the new year, and his response suggested Bruce’s wish could be about to come true. Aluko scored a fine leveller and excelled in support of Nikica Jelavic, who might have won it for Hull had his finish matched Aluko’s set-up. “I was delighted for Sone,” said Bruce, who is likely to hand him only a second Premier League start of the season against West Brom on Saturday. “When I first arrived a couple of years ago he was the outstanding player in the Championship. Unfortunately he damaged his Achilles so badly he missed all the rest of that season and even last year was stop-start. “In my experience when you’ve had serious injuries and been out for a year it can take you as long again to be really, really back to being that comfortable. That especially goes if you play like Sone, who is all about twisting and turning and moving. “But I’m delighted because he’s worked extremely hard and stuck at it. I pulled him aside before the Everton game and said he was very unlucky not to start because he did very well as a sub at Old Trafford, which is a good sign. “I know he’s looking forward to the challenge of playing week-in, week-out in the Premier League because he’s been blighted by injury. Let’s just hope he has a bit of luck because he is a very talented player.