Historically, it said, AP7’s Såfa had been “a very good option”, with the balanced fund having returned an annual 9.6% on average since inception in 2000, while the corresponding return for pension savers with their own portfolio had been 6.5% over the same period.Some 48% of premium pension savers had their money in AP7’s Såfa at the end of 2016, and this capital amounted to 30% of the entire fund capital contained in the PPM, according to the report.Sustainable investments featured more heavily in the PPM as a whole last year than the year before, the agency reported, with a rising proportion of capital in unit-linked funds meeting the SWESIF (Swedish Forum for Sustainable Investments) criteria.The proportion of capital grew to 65% in 2016 from 57% in 2015, according to the report.Bengt Norrby, statistical director of the Swedish Pensions Agency, said: “This increase is mainly due to the fact that a number of funds with a lot of capital now meet SWESIF’s requirements for sustainable investments.”At the end of last year, 7.2m individuals participated in the PPM, including 5.8m pension savers and 1.4m pensioners, the agency said.Total assets under management in the system rose to SEK983.5bn (€101.7bn) at the end of last December, of which SEK960bn was in unit-linked insurance and SEK23.5bn in traditional insurance. Sweden’s default provider in the premium pension system (PPM) AP7 has beaten the average return of non-state premium pension providers in 2016 with a 13.9% on its Såfa balanced fund, against a 9.5% return on average from the other providers.In its report on the PPM for 2016, the Swedish Pensions Agency (Pensionsmyndigheten) described 2016 as a good year for the system in its entirety, although it said performance at a handful of non-state funds had been “doubtful”.The PPM is the funded part of the Swedish state pension that allows pension savers to make their own investment choices, investing their contributions either in products from a wide marketplace of private sector investment fund providers, or with state pension fund AP7 in its default Såfa option.For pension savers who opted for some kind of management service from their marketplace provider, the return in 2016 was 6.5%, the agency said.
Share Sharing is caring! Tweet Share Share NewsRegional Bahamas budget deficit estimated at $500 million by: – May 23, 2012 48 Views no discussions Bradlet Roberts. Photo credit: thenassauguardian.comNASSAU, Bahamas — Progressive Liberal Party (PLP) Chairman Bradley Roberts revealed on Monday that the incoming Christie administration in The Bahamas has met a budget deficit of around $500 million, and said he would be ‘shocked’ if criminal charges are not brought after an investigation into the management of public funds by the previous government.Asked about this figure on Monday, Prime Minister and Minister of Finance Perry Christie told The Nassau Guardian he was not sure of the figure that his team had come up with as he was busy preparing the Speech from the Throne.He suggested that The Guardian speak to Minister of State for Finance Michael Halkitis.However, Deputy Prime Minister Philip Brave Davis confirmed the figure when he spoke to The Nassau Guardian on Monday.Davis blamed the Free National Movement (FNM) government’s “mismanagement” and “abuse” of the public purse.Davis, who is the minister of works and urban development, also said the PLP administration has launched an investigation into the former government’s management of public funds and added that criminal charges may follow.“Now that we’re in, and looking at what the true facts are, we are definitely approaching the $500 million deficit range,” he said after a swearing in ceremony for 10 senators.“We are doing our investigations with a view to see if we ought to prosecute someone for the abuse that has taken place with the public purse.”When asked who could face prosecution, Davis said, “Once we find where the trail ends and where the buck stops that will be the person.”Davis added that the Christie administration will likely have to borrow a little over $500 million in the 2012/2013 fiscal year as a result of the previous administration’s spending and to make good on the new government’s pledges to the Bahamian people.Roberts made the same declaration when he spoke to The Nassau Guardian after an appearance on the More 94.9 FM program “Real Talk Live” with Ortland Bodie, where he originally made the revelations.The borrowing would add to the national debt, which is currently hovering at just over $4 billion.Davis told The Guardian, “We will have to borrow that and borrow additional funds to be able to implement some of our initiatives and programs.”He claimed the high deficit is the result of the Ingraham administration’s negligence and bad planning.“The deficit, there is no doubt in my mind, is due to mismanagement, politics and priorities,” he said.Roberts said that several programs launched by the FNM administration, such as Self Starter and Jump Start, were election ploys that went over budget.“The budget on the jobs program was $25 million. I understand that will exceed or closely exceed $50 million,” he said.“The Jump Start program has also gone through the roof, I’m advised. They spent more money than was budgeted.”“The full details of it are all going to come out in due course. The way I understand some of those were implemented, my God, it will make all Bahamians sick to their stomach.“Some people never even reported to work and were getting paid. Some people would go to work and sit around doing nothing. Some of those jobs were only given out a day before the election, some on the election [day].”Davis could not confirm if these programs were indeed over budget, but said he too thinks they were election ploys.Three weeks before the May 7 election, Christie, who at the time was leader of the opposition, said the PLP would likely have to borrow at least $300 million in order to finance the country’s capital expenditure commitments if it was elected to office.By Taneka ThompsonNassau Guardian Senior Reporter
Press Association Condon said: “I’m very happy with her. She won a Listed race over an inadequate trip at Tipperary and she will be more comfortable over seven furlongs. “I think she has improved since, but she will need to if she is to be involved. She is in good form and I’m expecting her to run well. “I booked Johnny on Wednesday when I knew Shane Foley wouldn’t be available.” Foley will partner Glassatura for his boss Mick Halford, a filly who made a winning debut at the Curragh before finishing fourth in a Listed heat at Naas. Halford said: “She is in good form, she’s had a nice break since her last run. She has been working well and I’m hoping for a good run.” As is so often the case, the contest is dominated by Aidan O’Brien. The master of Ballydoyle has saddled eight previous Debutante winners and is this year represented by Tapestry (Joseph O’Brien), Minorette (Michael Hussey) and Perhaps (Seamie Heffernan). The field is completed by Paul Deegan’s Avenue Gabriel. The daughter of Haatef came right back to five furlongs to claim the Listed Tipperary Stakes a month ago, her second career win from four juvenile appearances. She will be partnered by Johnny Murtagh as she faces six opponents at Group Two level this weekend. Ken Condon believes a step up to seven furlongs will bring out the best in Sacred Aspect in the Friarstown Stud Debutante Stakes at the Curragh.