AP4 nets 26% return from real estate in 2016

first_imgSwedish buffer fund AP4 made a 10% return on its investments in 2016 with real estate contributing a gain of more than 25%.Its overall annual return compares with a 6.8% gain in 2015.Real estate was the stand-out strongest performing asset class for AP4 in 2016, producing 25.9% in returns before costs, followed by Swedish equities with a 12.4% return.Real estate accounts for 7% of the overall portfolio, and Swedish equities make up 19%. Meanwhile, global shares – which make up 39% of AP4’s total portfolio – returned 7.3%, and fixed-income investments generated 2.0%.Niklas Ekvall, chief executive, said AP4’s historical results were largely due to the ability its mandate gave it to exploit degrees of freedom – particularly relating to its long investment horizon.“AP4 intends to further intensify its ambition to establish an investment philosophy and build an investment portfolio that takes full advantage of the opportunities that our mandate and mission offers,” he said.Among other things, the pension fund would try to strengthen its global grip on the overall portfolio and broaden its expertise in order to become more able to generate investment opportunities with a long or medium time horizon, Ekvall wrote in AP4’s annual report.The buffer fund said it had commissioned a report by independent consultants CEM into the cost effectiveness of its operations compared to those of peers internationally.“The result shows that AP4’s capital is managed at a significantly lower cost than the average for comparable pension funds globally,” Ekvall said.The pension fund reported that its fund capital increased to SEK334bn (€35.3bn) by the end of December, up from SEK310bn at the same point 12 months earlier.Over the past 10 years, AP4 averaged a 6.7% annual return after expenses. Adjusted for inflation, this equated to a real return of 5.5% above the fund’s long-term target of 4.5%.In 2016, AP4 paid out SEK6.6bn net of fund capital as a contribution to the national pension system, to cover the deficit between payments and receipts.last_img read more

Wally Hayward: going the distance

first_imgIn the course of an athletics career spanning 60 years, Wally Hayward excelled at distances ranging from 100 metres to 100 miles.He competed on the track in his early twenties, represented South Africa at the Olympic Games in the standard marathon, and set world long distance records.His defining achievements, however, were reserved for one of the greatest ultra-marathons of them all: the Comrades.One of the world’s greatest ultra-marathons, the 90-kilometre Comrades Marathon is internationally recognised both for the body-sapping challenge it poses and the camaraderie it fosters among its thousands of participants.Run between Pietermaritzburg, capital of Kwazulu-Natal province, and the coastal city of Durban, the race alternates each year between an “up run” from Durban and a “down run” from Pietermaritzburg.First Comrades victoryWally Hayward won his first Comrades Marathon in 1930, at the age of 21, in a time of 7 hours 27 minutes – then returned to racing shorter distances.Earlier in the same year, he had won the national 10-mile championship, and over the course of the next 20 years he became national champion in distances from three miles to the marathon. He was also decorated for his actions during World War Two, being made a Member of the British Empire.When Hayward returned to the Comrades in 1950 he was discounted as a serious contender because of his age – he was 41 years old. That didn’t stop him from taking the lead at halfway and going on to win in a record time of 6 hours 46 minutes – 41 minutes faster than his winning time two decades before.6-hour barrier, 24-hour recordThe following year, in his first attempt at the Comrades down run, he powered his way to a 6 hours 14 minutes victory, slashing 7 minutes and 57 seconds off Johannes Coleman’s 1939 record.Hayward missed the Comrades in 1952 when he competed for South Africa at the Helsinki Olympic Games, but returned in 1953 to become the first athlete to break the six-hour barrier, in a time of 5 hours 52 minutes.In the same year he travelled to England, where he established new records in the London to Brighton Marathon, the Bath to London 100-miler – and a 24-hour track race staged by England’s Road Runners Club at Motspur Park.Hayward’s distance for “the day race” was 256.4 kilometres, a new world best – and a mark not bettered until two decades later, when Englishman Ron Bentley managed 259.6 kilometres.Hayward followed that up in 1954 by breaking his own record for the Comrades up run with a win in 6 hours 12 minutes.Barred from racingHowever, a second visit to England that year cost him dearly when the South African Athletic and Cycling Association declared him a professional for allegedly accepting donations for expenses.The rules of the race at the time meant that Hayward – having established new records for both the up and down runs and equalled the five wins of Arthur Newton and Hardy Ballington – could no longer run the Comrades.His amateur status was only reinstated 20 years later, in 1974, by which time he professed little appetite for racing, though he attended the finish of the Comrades every year to help inspire other runners.Saving the best till lastThen, in 1988, Hayward was persuaded by friends to take part in the race once more. The country was stunned when the 79-year-old crossed the finish line in 9 hours 44 minutes, beating more than half the field.Hayward’s most dramatic moment, however, came the following year, in 1989, when he completed the down run at the age of 80. There was hardly a dry eye in the stadium as he staggered across the line in an obviously distressed state, making the 11 hours cut-off time by a mere 1 minute and 57 seconds.To this day, he remains the oldest finisher in the history of the Comrades Marathon.The Wally Hayward medalWally Hayward died in May 2006 at the age of 97. In November, the Comrades Marathon Association announced that a new medal, the Wally Hayward medal, would be presented to runners for the first time in 2007.The medals are awarded to those runners who fail to earn Comrades gold medals – awarded to the first 10 men and women finishers – but still come in under the six-hour barrier first broken by Hayward in 1953.“The late Wally Hayward was one of the greatest ever Comrades runners, with seven finishes, including five wins,” association chairman Dave Dixon said in announcing the new medal.“He had a remarkable Comrades career that spanned 60 years, and is still the oldest person ever to finish the race.“In creating this medal, the Comrades Marathon Association salutes a man who epitomized the spirit of the race and inspired thousands of men and women to run it.”Would you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

Feeding winter hay on pasture fields

first_imgShare Facebook Twitter Google + LinkedIn Pinterest As we approach winter I have a question for you. Where do you feed your livestock?When the grass runs out do you bring them to a barn or facility to feed them? Do you leave them out on pasture and bring the feed to them?The reason for my questions is that experienced graziers spend the fall planning their winter feeding programs — planning to the point of not only what they will feed but also where they will feed the animals.I do not know the exact percentage, but it should be safe to say that many forage based livestock producers use round bales of hay as their primary stored winter feed. Hay is stored in some central location and then moved to the field for feeding. Quite a few of these producers feed round bales in rings out in the pasture field. Depending on the number of animals to be fed, producers will move bales out to these rings two or three at a time. This requires starting a tractor and moving bales throughout winter and in less than ideal conditions.Some graziers are using the dry days in fall to place bales where they will do the most good. They are placing bales in protected areas for nasty weather, areas with access to water and even in areas that they want to improve.I first saw this system demonstrated by the Missouri Forage Systems Research Center and have seen it adapted for many different farms in Ohio. The placement of the bales will depend on each farm, but basically consists of bales set out in fields about 20 to 25 feet apart in rows. The spacing is to allow enough space between bales for livestock to eat. You can use more or less rows depending on the amount of livestock you have and the field you are using.After you set the bales, a temporary electric fence can be used to exclude the stock for the remainder of the grazing season. When hay feeding begins, the appropriate number of bales is exposed with ring feeders over them and the livestock are allowed access. The number of bales fed depends on the number of animals. Hay should be consumed in two to three days. If it takes longer than that then hay waste will increase significantly.Any type of fencing may be used to protect the bales from the livestock during the season. Poly-tape and step-in posts seem to be the fence of choice. This fence can be moved very quickly and is highly visible to the livestock, thus making it very effective. One major consideration in winter is the use of step-in post in frozen ground. A post with a small diameter spike and a broad foot piece will work best in frozen ground with heavy boots.During winter you could carry a cordless drill to help plant posts. Concrete post anchors, using 5-gallon buckets as forms, will also work. A piece of 3/16 diameter tube set in the center makes a hole for the step-in post.The labor required for feeding bales this way is not necessarily less than conventional feeding systems. You still have to move the bales. You just get to spend less time doing it in winter.Some producers have used this system to improve run down fields. By placing bales for winter feeding they import nutrients and organic matter in the form of manure and wasted hay to areas that need it. Usually they also import seed from the hay.Are there areas of your pastures that could use extra manure? Can you get to them in winter with a tractor? Would placing bales during dry days in fall make your winter easier?last_img read more

Foreigners detention centre in Goa

first_imgThe Goa government has notified Mapusa sub-jail in north Goa as a detention centre for foreign nationals awaiting deportation.Under Indian law, a foreign national cannot be deported during the course of a trial or until the legal case reaches its fruition. North Goa Superintendent of Police Karthik Kashyap said foreigners caught for various crimes and illegal activities often extended their stay in Goa by purposely becoming part of criminal cases. A detention centre will enable State authorities to house the deportees and ensure they are kept in check until the deportation process is completed. Mr. Kashyap said that the Social Welfare department would be the nodal agency and the Indian Reserve Battalion personnel would provide perimeter security. The premises chosen in the Mapusa police station sub-jail would be renovated by the State Public Works Department and is expected to be ready by next season.The Goa government had expedited the process of creating an Isolated Detention Centre a few years back after Nigerian nationals blocked the National Highway No.17 protesting the murder of a compatriot allegedly by a local drug mafia. Many locals, policemen and Nigerians were injured in clashes. Over 50 Nigerians were detained by police in the case.Currently, in the absence of a centre, foreigners held for visa regulations and other violations are booked, arrested and get released on bail. Some of them get arrested by police under drug crimes to extend their stay in Goa.“A foreigners detention centre would solve most of our problems regarding foreigners, particularly Nigerians and Russians staying illegally and who are involved in crime,” said Mr. Karthik.According to police statistics, in 2012 alone, nearly 40 Africans from Nigeria, Sudan, South Africa were arrested for overstaying using doctored visas in the North Goa district. Since 2011, 160 foreigners have been booked in Goa for overstaying under the Passports Act.last_img read more

CONGRATULATIONS BEN AND KYLIE

first_imgCongratulations to Aussie Mens Open representative Ben Robinson and also Sharks Womens Open representative Kylie Glasson who married last weekend in a surprise/private ceremony. The couple, pictures and location looked beautiful and we wish them all the best as they start their new life as Ben and Kylie Robinson. Congratulations guys!last_img

17 days agoLokomotiv Moscow midfielder Dmitri Barinov wants Liverpool move

first_imgLokomotiv Moscow midfielder Dmitri Barinov wants Liverpool moveby Paul Vegas17 days agoSend to a friendShare the loveLokomotiv Moscow midfielder Dmitri Barinov admits he’d jump at the chance of moving to Liverpool.Barinov says he dreams of continuing his career in England.”If God grants it. Of course, I would like to,” he said on Russia 24 when asked about moving to England and Anfield. “Moreover, (Jurgen) Klopp is one of my favorite coaches. To play in England is a dream. I like the style of the teams playing. Powerful football.Is it Liverpool, or maybe, for example, Manchester City?”Well, City is more about tiki-taka, and Liverpool is a fighting team with pressure.” TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

Quebec biofuel company partners with Qantas in first longterm airline deal

first_imgMONTREAL – A Quebec biofuels company has signed its first deal to power an airline’s jets with energy grown from Canadian oilseeds.Agrisoma Biosciences Inc. of Gatineau will supply biofuel to Australia’s Qantas Airways made from Carinata seed, a non-food, industrial type of mustard seed that produces oil suitable for aviation and diesel fuel.The partnership is the first of its kind in Australia and will see Agrisoma work with Australian farmers to grow Carinata. That will be complemented by seeds grown elsewhere to feed its global travel network.The long-term goal is to grow the crop on 400,000 hectares to produce more than 200 million litres of bio jet fuel and replace 30 to 50 per cent of the airline’s annual fuel needs, said Agrisoma CEO Steven Fabijanski.He expects Qantas will begin to use the biofuel in 18 to 24 months. International fuel standards limit biofuels to replace up to half of fossil fuels, however traditional blends range between five and 30 per cent green fuel, he said.Fabijanski said the Agrisoma’s partnership with the Australian carrier was a natural fit.“The ability to be able to look at accessing this type of fuel on a global basis was certainly attractive to them,” he said.Qantas plans to conduct the world’s first biofuel flight between the United States and Australia in January to show the benefits of the renewable fuel, Fabijanski added.Australia’s national carrier conducted its first biofuel trial flights in 2012 using Airbus planes on two domestic routes. The fuel used was derived from cooking oil that was mixed evenly with conventional jet fuel.Qantas said it chose Agrisoma because the Carinata seed can be grown in Australia and the Canadian company has a proven track record and is committed to establishing a supply chain.“Carinata is a seed crop that can be developed at a scale,” Alison Webster, Qantas International’s chief executive, wrote in an email. “Tests have shown it to grow efficiently in our Australian climate and it provides biofuel that has as good an emissions reduction as any biofuel, if not better.”Webster added the airline is always looking for ways to reduce its carbon footprint, something that is appreciated by customers.“We know that consumers expect businesses to take action to help reduce carbon emissions and using sustainable aviation biofuel is a key way for airlines to do this.”Agrisoma said its oil produces 77 per cent lower greenhouse gas emissions than fossil fuels.Fabijanski said sales of Carinata will be helped by a global airline carbon reduction scheme and challenges other biofuel suppliers will face in obtaining enough animal fat and waste oil.“There’s a huge potential because all airlines have signed on to a scheme where they’re going to be carbon neutral by 2020 and then cut their carbon footprint by half by 2050,” he said.The airline industry produced 781 million tonnes of carbon dioxide in 2015 or 12 per cent of emissions from transportation sources, according to the Air Transport Action Group.Less than five per cent of flights are currently flown using biofuel blended with traditional jet fuel, but Fabijanski hopes that half of the 300 billion litres of fuel used by the airline industry will eventually be replaced by biofuel.Biofuel blends currently cost five to 10 per cent more than traditional jet fuels depending on location. But Fabijanski said biofuel prices are more stable than fossil fuels and the cost differential should eventually disappear as supply expands with distribution hubs beyond Los Angeles and Oslo.last_img read more

UK data watchdog raids Cambridge Analytica office in London

first_imgLONDON – Officers from Britain’s information regulator are raiding the London offices of data firm Cambridge Analytica after being granted a warrant as part of an investigation into alleged misuse of personal information.A High Court judge granted the warrant Friday evening. Soon afterward, 18 people, some in Information Commissioner’s Office jackets, entered the company’s central London offices.The information commissioner is investigating whether the firm improperly used data from some 50 million Facebook users to target voters with ads and political messages.Cambridge Analytica, best known for working on President Donald Trump’s 2016 campaign, is at the centre of an international storm over privacy and political manipulation.Authorities in the United States and Britain are investigating whether it and Facebook broke the law in their use of personal information.last_img read more

Grande Prairie RCMP respond to explosion at salvage yard

first_imgThe scene was quickly contained and secured by emergency services, while the injured employee was taken to Queen Elizabeth II Hospital with non-life threatening injuries.Alberta Occupational Health and Safety attended the scene and investigators continue to look into the cause of the explosion. GRANDE PRAIRIE, A.B. – Mounties in Grande Prairie were called out to an explosion that occurred at a local business on Saturday.Emergency services, including the RCMP, responded to the explosion, which took place at a salvage yard on the north side of the Swan City, at approximately 10:50 a.m.Police say initial reports indicate that a propane tank had exploded, causing damage to equipment and injuring one employee.last_img read more