Lithuanian schemes generate positive returns despite ‘erratic’ markets

first_imgDespite what BoL termed this year’s “erratic” markets, however, 11 of the 21 funds – all the conservative ones, two low-risk and three medium-risk structures – managed to produce positive returns.Audrius Šilgalis, chief specialist of BoL’s financial services and market analysis division, noted on the Bank’s website: “Good pension fund performance for the second quarter, even after the Brexit referendum, which shocked financial markets, offset the influence of negative trends that prevailed at the beginning of the year.”Second-pillar assets grew by 9.9% to €2,246m and membership by 4.2% to 1.19m.The asset growth was boosted by this year’s increase in the additional members’ and state budget contribution rates from 1% to 2%.These accounted, respectively, for 22.6% and 24.6% of the €128.3m asset increase since the end of 2015.Returns for the substantially smaller third pillar showed a similar pattern to that of the second, with the average plunging from 6.06% as of the end of June 2015 to minus 1.22% by the end of the following March, then recovering to minus 0.02% three months later.The conservative funds averaged 2.3%, with all three in positive territory.While the four medium-risk funds averaged minus 0.72% and the five high-risk plans minus 0.83%, one fund in each category managed to buck the trend.The number of members increased year on year by 10.3% to 48,951, while assets grew by 23.4% to €66.1m because of higher contributions from participants. The six-month year-to-date nominal returns for the voluntary second-pillar pension system averaged minus 0.10%, according to the Bank of Lithuania (BoL), the country’s pension regulator.This marked a significant deterioration compared with the 4.7% generated 12 months earlier but was an improvement on the first quarter’s return of minus 0.18%.The best results as of the end of June were generated by the six conservative bond funds, at 0.77%, followed by the four low-risk funds with 25-30% equity investment (minus 0.01%), the seven medium-risk funds with equity limits of 50-70% (minus 0.02%), and the four high-risk funds, with up to 100% invested in equities (minus 1.32%).This is a reversal of last year’s trend when high equity levels generated the best results.last_img read more

New home that rose from ‘meth house’ ashes to go to auction

first_imgPlace Coorparoo agent Ben Salm, who is leading the sales campaign, said they had had over 45 groups through the property since it launched four weeks ago. “We have had interest from local buyers, interstate buyers, and I am registering a buyer (for the auction) from China,” he said. “There has also been quite a lot of interest from the French (community).“I have been selling here for years and never seen so many French people through an open inspection.” The couple and their children have lived in the house for over a year, but are now selling to embark on their next project.“My brother-in-law has also moved overseas after finding love so he is starting his next chapter,” Mrs Gamez said. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45A NEW house that rose from the ashes of an alleged ‘meth house’ is just one of 12 properties that will go under the hammer tomorrow night.The original house at 7 Tegula St in Mansfield was destroyed by fire in 2015, with the Courier Mail reporting at the time that two occupants of the house escaped unharmed. The original house at Mansfield before it was destroyed by fire. CoreLogicRemains of the charred shell were levelled, and the vacant 645sq m block, which is located within the sought-after Mansfield State High School catchment, was sold for $490,000 in 2016. What remained of the original house after the fire. Supplied.The owners – husband and wife Jonathan and Elizabeta Gamez, and brother-in-law Christian Gamez – have since built a modern, five bedroom “family entertainer” on the block. What the current owners bought for $490,000 back in 2016Mrs Gamez said neighbours had told them that the original house – a housing commission property – was destroyed after a fire broke out under the house, supposedly due to a tenant “cooking drugs”.“We knew Mansfield was an up-and-coming area and within one of the state’s top high school catchments so we bought the land and built this architecturally-designed house,” she said. The new build was the trio’s first major project, with the husband and wife duo having previously completed a number of renovations. The house at 7 Tegula St in Mansfield now Mr Salm will also auction off another property – 17-21 Ajinby Close at Thornlands – at the event.Called Hawstead, that historic Queenslander sits on a whopping 6994 sqm block and was built by Colonel Edward Drury back in 1876.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours agoMr Salm said that house, which has been extensively restored and renovated, is also being sold after the vendor found new love.“It is love all around,” he laughed. The house at 17-21 Ajinby Close, Thornlands, after it was renovated.And it is hoped that new love will be found for all of the properties on the auction roster, with the last Place auction event in September setting a new record.At that event, a riverfront mansion at Bulimba cemented a residential auction record when it sold under the hammer for $8.4 million, equalling the highest ever auction sale in the city, a record set a decade ago.While it is unlikely any of the new properties will set a record, some are expected to attract top dollar.Among them is 10 Aaron Avenue at Hawthorne, a stunning riverfront property on the same street as some of the city’s most exclusive properties. Currently owned by the founder of Goodlife Health Clubs, it has four bedrooms and sits on a 606 sqm block. 10 Aaron Avenue, HawthorneA classic Queenslander on a 1012 sqm block at Bulimba, a single-level house just 600m from Hendra’s Racecourse Village, and five apartments, will also go to auction at the event, which is being held at Coco Republic and starts at 6pm.last_img read more

Inside the LA-inspired mansion of Manpower founder Billy Cross

first_imgAn aerial view of 297-299 Monaco St, Broadbeach Waters (far right).FOR a fun-loving social couple with two young boys, home for Billy and Jackie Cross has been as much a space for family as for entertaining. Having purchased their Broadbeach Waters plot with a knockdown house in 2009, the couple worked with Bayden Goddard Design Architects to bring their vision to life. MORE: Tallebudgera new build is Qld’s most popular house Wide glass windows allow for a connection with the outdoors.An annual Australia Day gathering has been a longstanding event on the Cross social calendar, but with their sons now grown up, life is moving into a new phase.“We’ve bought the penthouse in White at Main Beach, so we’ll be starting a new chapter close to the restaurants and cafes there,” Mr Cross said.“I’m excited and emotional. I love the aspect of walking to the shops to grab coffee and bagels from the bakery in the mornings, and late night Thai or Italian. “But at the same time we’ve spent 12 years in this house so we will miss it.” Michael Kollosche is taking expressions of interest until October 7. There are multiple areas for relaxation and low-key socialising.Full height stacker doors allow the indoor living areas to flow easily onto alfresco entertainment spaces, where the aspect takes in a pool, a tennis court and main river. “We’re on nearly 2600 sqm of land with a park across the road and the main river at the back,” said Mr Cross.“Laying out there watching the boats and jet skis go by on main river is a really relaxing place to be and a great space for entertaining.” How to buy in a hot market + fastest selling suburbs A tennis court, pool, gymnasium and river frontage create opportunities for recreation.An outdoor kitchen is equipped with teppanyaki facilities and three wine fridges, in addition to the temperature controlled 2000-bottle cellar inside. Entertaining is second nature for the vivacious entrepreneur, who shot to fame in the 1980s as the founding member of hit male stage show Manpower. The man cave has been a favourite feature for Mr Cross.But the hands-down favourite feature goes to the man cave, which Mr Cross describes as “one of the best on the Gold Coast”.It’s kitted out with a bar, wine fridges, classic pub pool table and seven televisions for the ultimate sporting feast.“You can watch the races, footy and AFL at the same time,” Mr Cross said.“It has been a great space to have the boys over for punting sessions on a Saturday or late night parties.” The house is well designed for entertaining, relaxation and play.Their sprawling LA-inspired mansion, at 297-299 Monaco Street, has a relaxed elegance about it, with multiple areas for rest, exercise and play. “It’s a big house with a lovely open plan, but the spaces still feel intimate,” said Mr Cross, who credits wife Jackie for the styling.“Having two young boys, it’s been an amazing place for them to grow up in.” The outdoor areas offer views of the river and city skyline.Mr Cross went on to run a string of nightclubs in Surfers Paradise and Las Vegas, where his Thunder from Down Under show has been a roaring success.Waking up to a gym, steam room and massage room have made home workouts a breeze, while sons Nick, now 17 and Josh, 21 made the most of the tennis-come-basketball court over the years. More from news02:37International architect Desmond Brooks selling luxury beach villa6 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago Iconic trophy mansion sold via FaceTime The LA-inspired design gives off a relaxed sense of elegance.last_img read more

Eastern Australia welcomes heavy rains

first_imgA buggy pulls people, sliding around in the mud, as they celebrate the rainfall in Winton, Queensland, Australia on Jan. 15 in this still image taken from social media video. TEONIE DWYER VIA REUTERS Australia, famous for its pristinebeaches and wildlife, has been fighting bushfires since September, with fireskilling 29 people and millions of animals, and destroying over 2,500 homes. MELBOURNE – Thunderstorms with heavyrains dampened bushfires on Australia’s east coast on Friday. Victoria, New South Wales andQueensland, three of the states most affected by drought and bushfires,welcomed this week’s drenching rain. Severe storms are forecast to continuein many fire-stricken regions of New South Wales and Queensland, includingareas that have not seen heavy falls for years, weather officials said.(Reuters)last_img read more

NBBF disclaims malicious tweet

first_imgRelatedPosts Serbia-based Nigerian basketballer slumps, dies after training NBBF celebrates Nigerian Arizona Women Basketball player of the Decade Pray for Nigeria during Ramadan — NBBF The Nigeria Basketball Federation has disclaimed a publication in the social media where it was claimed that the federation had secured the release of funds from the Ministry of Youth and Sports ahead of the FIBA Africa Pre-Olympic qualification tournament in Maputo, Mozambique.The NBBF made the disclaimer in a statement on Thursday.The statement said: “The attention of the Nigeria Basketball Federation has been drawn to a publication via a twitter handle ‘D’TigresNG’ alleging that the Ministry has released funds to the NBBF and that the federation could not pay the D’Tigress players who represented Nigeria at the FIBA Africa Pre-Olympic Qualifying Tournament in Maputo, Mozambique, their appropriate allowances in order to prosecute the Women’s Olympic Qualifying Tournament whose 1st window ended in Maputo, Mozambique, a few days ago.“The NBBF wants the public to note that it does not have any form of control of this twitter handle and it dissociates itself in every material particular from that twitter publication which is indeed false and misleading and urges members of the public and all concerned to disregard it in its entirety.”The NBBF said it was unable to pay the players their full allowance in Maputo as it was not in position to do so due to lack of funds. It said: “The federation has not received any related funding from the ministry yet, which is still being processed and expected.”The Federation made it clear to the players in Maputo that when the funds eventually become available, they would receive their full entitlements.The NBBF, the statement added, has launched an investigation to get at the root of this publication, which is believed to be the handiwork of detractors bent on derailing the D’Tigress’ Olympic Games aspirations and also to portray the federation in bad light before the sports ministry. Tags: NBBFlast_img read more

Young Cubs pull through

first_imgThe Loyola High of Los Angeles boys’ soccer team is used to deep postseason runs, but as Joe MacMillan was reminded before Saturday’s Southern Section Div. I playoff opener, this year’s version of the Cubs has little playoff experience. MacMillan, a senior and one of the few returnees from lastseason’s Div. II runner-up, was told by his coach before the game that he needed to be a leader and help keep his teammates relax as they entered the foreign territory of the postseason. MacMillan followed through by scoring the only goal of the game in a 1-0 victory over visiting Westlake, advancing fourth-seeded Loyola to Wednesday’s second round. MacMillan knocked in a back-door shot in the 62ndminute on a play set up by a throw-in from Conor Maher deep in Westlake territory. “We needed one,” MacMillan said. “That’s all I was thinking. I wanted to take some stress off the team. … We definitely had some nerves out there today. We just have to remember it’s one game at a time and each player has to do his part and not try to do too much.” The Cubs were enouraged by the way they played after taking the lead. “The second part of the second half we settled in and played much better,” Loyola coach Chris Walter said. “We’re a young team. We don’t have a lot of playoff experience, so it took us a long time to get settled in.” Cubs goalkeeper Kevin Klasila was in peak form from the start, shutting down any potential Westlake threats, including a free kick from near the top of the box in the 69thminute. The shutout was the 19th of the season for Loyola (22-6-3), which has allowed just one goal in its past 11 games. The Cubs’ victory ended a late-season surge by Westlake (13-10-2) and marked the second year in a row the Warriors were eliminated by Loyola. Westlake started the season 7-9-1, but went undefeated in its final six games of the regular season to earn a playoff berth as the Marmonte League’s fourth-place representative, then advanced through the wild-card round with a win over Cabrillo of Long Beach on Wednesday. center_img Loyola, which has reached the Div. II finals the past threeyears, faces two-time defending Div. I champion Damien of La Verne in the second round. The Spartans, who advanced by edging Palmdale 2-1 in overtime, tied the Cubs 1-1 when they met early in the season. “It doesn’t matter who we face,” MacMillan said. “We control our own destiny.” heather.gripp@dailynews.com (818) 713-3607 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

2 hospitalized after boat goes up in flames in Fort Pierce

first_imgFORT PIERCE (WSVN) — Two people have been hospitalized after a boat caught fire in Fort Pierce.Cell phone video captured the scene after the boat burst into flames at the Fort Pierce Marina, destroying the vessel and damaging another.A man and woman were taken to a nearby hospital with burns.The cause of the fire remains unknown.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img