Latvian pension funds boost returns in second quarter

first_imgThe active funds increased their share of bonds and bond funds to 52%, from 48% in the first quarter, while decreasing the share of bank deposits by 2 percentage points to 5% because of historically low interest rates.The balanced funds likewise raised their bond share, by 5 percentage points to 75%, while cutting their equity and equity fund exposure, from 17% to 14%.The conservative plans remained relatively unchanged, with bonds and bond funds accounting for 78%, and deposits 7%. Like the active funds, they have also kept a sizeable share, of 15%, in cash.Brexit had little direct effect because the Latvian funds have relatively little investment in the UK, instead focusing increasingly on the home market.Latvia accounted for 42% of invested assets, followed by Eastern Europe (23%), and global and international securities (12%).More than 92% of investments went into euro-denominated assets, followed some way behind by the US dollar (6%).Assets accumulated in the 15-year-old second-pillar system breached the €2.5bn mark at the end of June, a year-on-year growth rate of 14.4%, with net investment income accounting for almost €400m.In the voluntary third pillar, the 12-month average fell to 0.52%, from 3.47% in June 2015, with the four balanced funds returning 1.1%, the 10 active plans minus 0.38% and the First Closed Pension Fund 0.75%.The wide range of returns from the active plans partly reflected currency developments over the period, with the two US dollar funds returning 1.23%, while the eight euro-denominated funds averaged minus 0.45%.Over the last three months, the active plans raised their share in equity and equity funds by 4 percentage points to 37%, while the balanced ones increased their bond holdings from 64% to 69%, in both cases at the expense of their cash holdings.Assets grew by 11.3% year on year to €340m and membership by 7.2% to 261,925. Latvia’s mandatory second-pillar pension funds’ 12-month weighted average return to 30 June 30 fell to minus 0.16%, from 2.71% a year earlier, according to the Association of Commercial Banks of Latvia (LKA).The best results, of 1.53%, were generated by the eight bond-weighted conservative funds, followed by the four balanced funds at minus 0.47%, and the eight active, equity-weighted funds at minus 1.54%.However, a market recovery in the second quarter was reflected in the funds’ improved three-month performance, with the active funds returning 0.37% (compared with minus 0.75% in the first quarter), and the balanced funds 0.48% (against minus 0.07%), while the conservative funds’ result was unchanged at 0.57%.The funds’ asset allocation strategies became increasingly more risk averse throughout this year.last_img read more

Golden Knights vs. Sharks results: Score, highlights as San Jose wins Game 7 in stunning fashion

first_imgWow. What else can you say after this game but “Wow”?The Golden Knights are up by three goals in the third period after Max Pacioretty scores 3:36 into the period. You think, as the minutes wind down, that this will be a Vegas win in Game 7 of the first-round series. But hold on.Joe Pavelski and Cody Eakin line up for a faceoff deep in Vegas’ end. Off the puck drop, Eakin cross-checks Pavelski. The Sharks captain then bumps into Paul Stastny as he is falling and hits his head and shoulder directly on the ice. Pavelski appears to be knocked out and is bleeding. Whether or not it’s the right call, Eakin is given a five-minute major and a game misconduct for cross-checking.Logan Couture scores just six seconds into the ensuing power play. As he says to the bench — that’s one. Forty-nine seconds later, it’s Tomas Hertl with the deflection goal. Two minutes and 44 seconds later, it’s Couture again with the tying goal. The Shark Tank is going crazy. Twenty-eight seconds later, it’s Kevin Labanc, and the Sharks have their first lead of the game.You probably think the game is over, but hold on again. Jonathan Marchessault fires a quick shot past Martin Jones with 47 seconds remaining in regulation. We’re headed to overtime.Anyone will tell you overtime goals are usually scored in the first five minutes and the last five minutes of the extra session. Well, with one minute and 41 seconds remaining in the first OT period, Barclay Goodrow, who was on the ice for three of the Golden Knights’ four goals during regulation, takes a pass, drives around the Vegas defense and buries the puck past a sprawled Fleury. Sharks win 5-4. It’s the first Game 7 loss of Fleury’s career.”I had a ton of energy,” Goodrow tells NBC Sports Network analyst Ray Ferraro after the game. “I was sitting there for most of the overtime. I thought I might as well use my fresh legs to do something.”Mission accomplished. Wow. What an ending, what a game. Sporting News tracked scores and highlights from Tuesday’s Game 7 between the Golden Knights and Sharks:Golden Knights vs. Sharks: Score, highlightsFinal score — Sharks 5, Golden Knights 41:23 a.m. — What. An. Ending.1:23 a.m. — GOAL. Barclay Goodrow. Wow. With under two minutes left in the first overtime, he drives to the net and tucks it around Fleury. What an ending. Sharks win 5-4.Game Winner!— NHL on NBC (@NHLonNBCSports) April 24, 20191:17 a.m. — Both teams come within inches of scoring, within seconds of each other. 1:13 p.m. — Lots of back-and-forth action. Meier almost puts one past a leaning Fleury but Fleury gets the pad on it.1:02 a.m — Big poke check by Fleury on Meier, who crashed the net.12:55 a.m. — Two big stops by Fleury on Meier.12:53 a.m. — Overtime starts.Third period — Golden Knights 4, Sharks 4Shots: Golden Knights 29, Sharks 3412:39 p.m. — We’re heading to overtime.12:36 p.m. — GOAL. This game is just, wow. Jonathan Marchessault buries it off the pass from Reilly Smith with 47 seconds left on the clock. Game tied at 4.12:36 p.m. — One minute left. 12:36 p.m. — Goal post for Vegas.12:35 p.m. — Just 90 seconds left. Fleury on the bench12:32 a.m. — Martin Jones with a fantastic glove save on Mark Stone.12:31 a.m. — Three minutes and 41 seconds left. Vegas to the power play trailing by one.12:29 a.m. — Erik Karlsson makes the save of the game as he knocks the flying puck away. The crowd is loud and alive in San Jose.12:23 a.m. — GOAL. What a turn of events. Kevin Labanc goes against the grain and beats Fleury over the shoulder. Sharks lead 4-3The @SanJoseSharks have taken the lead late in the third.This game is crazy.Watch more here:— NHL on NBC (@NHLonNBCSports) April 24, 2019Kevin Labanc of the @SanJoseSharks became the first player in NHL history to record 4 points in a period during a #Game7. #NHLStats #StanleyCup— NHL Public Relations (@PR_NHL) April 24, 201912:21 a.m. — GOAL. Great puck movement by the Sharks and Couture fires it from the point past Fleury. Wow. We’re all tied up. Game tied at 3.#FORPAVS PART 3— x – San Jose Sharks (@SanJoseSharks) April 24, 201912:18 a.m. — GOAL. Here come the Sharks as Hertl deflects the Karlsson point shot. Still four minutes left on the power play. Vegas leads 3-2….and @TomasHertl48 brings the @SanJoseSharks to within one goal. Plenty of time left in #Game7. #StanleyCup— NHL GIFs (@NHLGIFs) April 24, 201912:16 a.m. — GOAL. Logan Couture scores just six seconds in. Vegas leads [email protected] gets the @SanJoseSharks on the board… #StanleyCup #Game7— NHL GIFs (@NHLGIFs) April 24, 201912:15 a.m. — Eakin gets a five-minute major for cross-checking and is tossed. The replay shows that Eakin cross-checked Pavelski and Stastny bumped him. Pavelski’s head and shoulder hit the ice.12:12 a.m. — Pavelski is helped off the ice and is not really moving.12:12 a.m. — Fans throw things on the ice.12:11 a.m. — Off the draw, Joe Pavelski drops to the ice and does not move. He then gets up briefly and is seen to be bleeding. The doctors come out and Cody Eakin is immediately taken to the penalty box. He gets five and a game misconduct.Pavelski is cross-checked off the face-off and it looks like he hit his head on the ice. He had to be helped off the ice by his teammates. That’s scary, awful, and the last thing you want to see.— Shayna (@hayyyshayyy) April 24, 201912:02 a.m. — GOAL. Max Pacioretty goes five-hole. Dagger for the Sharks. Vegas leads 3-0.Pacioretty puts the @GoldenKnights up 3-0 in the third period of #Game7. #StanleyCup— NHL GIFs (@NHLGIFs) April 24, 201912:01 a.m. — So close as it goes off the post and a solid clear by Brayden McNabb in the paint.Dear Goal Post,HAVE WE TOLD YOUUUU LATELYTHAT WE LOOOOOVEEEE YOU?— x-Vegas Golden Knights (@GoldenKnights) April 24, 201912:00 a.m. — After some sustained pressure from the Sharks, Eakin breaks in and is stopped by Jones.11:58 p.m. — Third period starts. Period 3 coming up!— x-Vegas Golden Knights (@GoldenKnights) April 24, 201911:41 p.m. — Trying to get things going for the third with some alums.You think Jonathan Cheechoo and Devin Setoguchi know how to get a crowd pumped?Because they 100% do.— x – San Jose Sharks (@SanJoseSharks) April 24, 2019Second period — Golden Knights 2, Sharks 0Shots: Golden Knights 14, Sharks 2011:28 pm — Sharks come close as rebound pops up and Justin Braun comes oh, so close to burying it into the empty net. Unfortunately, it was a bouncing puck and he couldn’t connect.11:22 p.m. — Meier splits the D but is absolutely robbed by the glove of Fleury.For real….. can we talk about this😍🌸😍🌸😍🌸— x-Vegas Golden Knights (@GoldenKnights) April 24, 201911:22 p.m. — We have a good goal. Vegas takes a 2-0 lead.Not a high stick, apparently. It counts.Okay then.— x – San Jose Sharks (@SanJoseSharks) April 24, 201911:20 p.m. — Maybe a high stick on Eakin as it was close to being above the crossbar.11:19 p.m. — GOAL. Cody Eakin knocks the puck out of the air and past Martin Jones. Vegas leads 2-0.Freakin’ Eakin babyFREAKIN EAKIN’— x-Vegas Golden Knights (@GoldenKnights) April 24, 201911:12 p.m. — Ryan Reaves called for tripping … what a horrible call, to be honest. Sharks back to the power play; they’re 0-for-3 on the night.11:07 p.m. — Timo Meier just misses as he goes against the grain.11:03 p.m. — Second period is a go and almost immediately the Sharks come close to tying the game up as the puck just goes off the glove of FleuryIn Flower We Trust— x-Vegas Golden Knights (@GoldenKnights) April 24, 2019First period — Golden Knights 1, Sharks 0Shots: Golden Knights 4, Sharks 1110:33 p.m. — So, now Tuch is called for interference and we’re going four-on-four for a minute and 10 seconds.10:28 p.m. — Vegas heads to the power play.10:24 p.m. — GOAL. Off a faceoff deep in the San Jose end, Vegas gets the puck and Martin Jones cannot control the rebound. William Karlsson buries the puck. Vegas leads [email protected] and the @GoldenKnights strike first in #Game7. #StanleyCup— NHL GIFs (@NHLGIFs) April 24, 201910:18 p.m. — I’m, I’m not really sure how, but Fleury just kept the puck out of the net.If you weren’t already on the edge of your seat for #Game7, you are now. #StanleyCup— NHL GIFs (@NHLGIFs) April 24, 201910:17 p.m. — Fleury makes a big stop as Joe Pavelski once again is creating the screen.10:16 p.m. — Wow. Vegas takes another penalty as Hertl is cross-checked.10:15 p.m. — Not much on the power play for San Jose as the best attempt was blocked.10:13 p.m. — What a move by Staten Island, N.Y., native Kevin Labanc to the net as he draws a power play for the Sharks.10:10 p.m. — Puck drop. Away we go.Pregame10:08 p.m. — Anthem. 9:58 p.m. — Someone came dressed for successDon’t forget, there’s another #Game7 coming up! This fan is ready. #StanleyCup— NHL GIFs (@NHLGIFs) April 24, 20199:14 p.m. — Fair to say, these are pretty cool.Ready to be waved. #PlayoffMode— x – San Jose Sharks (@SanJoseSharks) April 24, 20199:14 p.m. — Permission granted.If you need a note to get to Game 7, we got you. #PlayoffMode— x – San Jose Sharks (@SanJoseSharks) April 23, 2019last_img read more