ATP sees little investment return in Q3 as Danish shares drop

first_imgATP said the result for the first three quarters of the year had been created by high investment returns in the first half of the year, while market conditions had become more difficult towards the end of Q3.“Difficult market conditions continued into Q4,” the pension fund said.For the third quarter alone, ATP reported an investment result before tax on pension savings returns and income tax of just DKK136m, compared with DKK8.73bn for the first three quarters put together.In the first three quarters, equity investments produced a DKK7.7bn return, up from the DKK6.9bn generated in the first two quarters alone. Within this, listed Danish equities produced DKK2.9bn, down from DKK3.2bn at the end of June, unlisted equities returned DKK3.4bn, up from DKK2.4bn, and listed global equities returned DKK1.5bn, up from DKK1.3bn.ATP said three out of the five risk classes in its investment portfolio – equities, interest rates and credit – had delivered positive returns in the first nine months of the year, while inflation commodities made losses overall. Within the inflation risk class, insurance strategies against interest rate increases lost money for ATP, and the commodities loss was due to a drop in oil prices, the pension fund said.With the vast majority of its assets belonging to its hedging portfolio – designed to safeguard the guaranteed pension promises it makes – ATP’s total assets grew to DKK666bn at the end of September, from DKK641bn at the end of June and from DKK592bn at the end of 2013.ATP said its hedging portfolio generated a return of DKK82bn before tax in the nine-month period, equivalent to DKK69.5bn after tax, and just undercutting the DKK70.7bn the pension fund provisioned for members’ guaranteed pension liabilities.As the hedging loss of DKK1.2bn equated to less than 0.25% of ATP’s guaranteed benefits of DKK 564.8bn, it was “considered to be satisfactory”, ATP said. Denmark’s ATP made only the slimmest of investment returns in the third quarter of this year, generating around 0.15% on its DKK100bn (€13.4bn) investment portfolio, due to “difficult market conditions”.The latest figures showed losses on domestic equities had been offset by gains on private equity.Reporting interim financial figures for January to September, statutory pension fund ATP posted an investment return of 9.6% before tax and expenses, or DKK9.2bn, up only marginally from the DKK8.9bn reported at the half-year stage.Carsten Stendevad, ATP’s chief executive, said: “After years with unusually stable returns across asset classes, the financial markets have now become more volatile. That reflects the significant challenges the global economy is facing.”last_img read more

AFCON 2021 Qualifiers: Aristide Bance in as Burkina Faso names strong squad to face Uganda Cranes

first_imgBance is one of the big names in Burkina Faso’s squad. (PHOTO/Courtesy).AFCON 2021 QualifierBurkina Faso vs UgandaStade du 4 Aout, OuagadougouWednesday, 13-11-2019 @10pmBurkina Faso have revealed their squad set to take on Uganda Cranes on Wednesday night.The Swallows will host Uganda at the Stade du 4 Aout in their opening fixture of the 2021 Africa Cup of Nations (AFCON) qualifiers.The team will also be the one that travels away to South Sudan in their next game on Sunday.The likes of Lyon’s Bertrand Traore, Jonathan Pitroipa and Aristide Bance have all been included.Captain Charles Kabore is also part of the fold as Burkina Faso eyes a return to the African show piece having missed out in the last edition in Egypt.Surprisingly, all three goalkeepers summoned on the team are local based.Farid Steeve of Majestic Football Club, Ben Idriss Traore (AS Sonabel) and Aboubacar Sawadogo (As Douanes) are the custodians that have been named.Burkina Faso SquadGoalkeepersFarid Steeve (Majestic, Burkina Faso) Ben Idriss Traore (AS Sonabel, Burkina Faso), Aboubacar Sawadogo (As Douanes, Burkina Faso)DefendersIssoufou Dayo (RS Berkane, Morocco), Edmond Fayçal Tapsoba (Guimaraes, Portugal), Dylan Ouédraogo (OH Louvain, Belgium), Abas Ouedraogo (Salitas), Soumaïla Ouattara (Rahimo FC), Steeve Yago (Caen, France), Yacouba Coulibaly (Le Havre, France), Issa Kaboré (Mechelen, Belgium)MidfieldersAdama Guira (Guangzhou R & F, China), Charles Kaboré (Dynamo Moscow, Russia), Bryan Dabo (Fiorentina, Italy), Bertrand Traoré (Lyon, France), Cyrille Bayala (AC Ajaccio, France), Dramane Nikiema (Horoya AC , Guinea), Alain Traore (RS Berkane, Morocco), Zakaria Sanogo (FC Ararat, Armenia)ForwardsLassina Traoré (Ajax Amsterdam, Holland), Aristide Bancé (Horoya AC, Guinea), Jonathan Pitroipa (Paris FC, France), Eric Traore (Pyramid, Egypt)Comments Tags: AFCON 2021 QualifiersAristed BanceBurkina FasoUganda Craneslast_img read more