Property writedowns wipe tenth off Varma’s 2016 returns

first_imgIlkka Tomperi, Varma’s investment director responsible for real estate, told IPE: “Our portfolio includes very few assets in Helsinki’s [central business district]. That has been the main beneficiary from the rental growth and yield compression, while the demand for secondary locations has been limited. We saw values declining in many of our commercial properties, while the residential portfolio performed well.”In its report on 2016 results, Varma said its real estate investments ended the year at €3.6bn on the balance sheet, down from €3.9bn. Direct real estate investments made a loss of 2.6% in 2016, down from a 2.3% profit the year before, but real estate investment funds returned 6.8%, down from 9.9% in 2015.Varma continued with its strategy of increasing international diversification in its property investments during 2016, the report said.The company said its weighting of domestic, directly-owned real estate investments was reduced last year, with the company raising €301m through sales of direct real estate investments in 2016.Commenting on overall results for the year, Varma’s president and chief executive Risto Murto said: “A challenging year turned out to be a good one.”“Solvency, which is strategically important, strengthened and investment assets increased,” he said, adding that the company was in strong shape. Varma, the largest of Finland’s pensions insurance companies, reported an investment return of 4.7% in 2016 after taking a hit from its property portfolio.Writedowns in the values of some of its real estate assets knocked more than 10% off its annual investment profit, the insurer said.Varma reported its property asets made a 0.9% loss in 2016 as a result of €218m fall in value. Indirect real estate investments generated a positive 6.8% return, however.Despite this, total assets under management rose to a record high of €42.9bn last year, from €41.3bn in 2015. In absolute terms, Varma’s overall investment return for 2016 was €2bn.last_img read more

Guyana baseball records productive 2016

first_imgTHE Guyana Baseball League (GBL) has recorded a productive 2016 with international competition being the highlight.In his New Year’s message president Robin Singh stated, “We are proud to report on our first foray into international competition, our U-21 female team took part in the Canadian U-21 Women’s Invitational. It was a wonderful experience for our players and a learning one for the management team.”The president said, “Baseball Guyana featured on Canadian National Television and local (Halifax) newspapers and radio, garnering great publicity for our 50-year old nation.”The message continued, “On behalf of the whole Baseball Guyana organisation, we wish you all the best as we begin another journey of challenges, victories, lessons and changes in the year ahead.“2017 will see us build on this experience with male teams competing in the Federation of Baseball and Softball Pará (Brazil) International tournament in April. The females will also play in a tournament in the USA.”Meanwhile the junior teams will begin competing in regional age group tournaments in the Americas region with the road to Olympic qualification beginning in September 2017.“2017 will also see the establishment of the much anticipated Georgetown programme at the Ministry of Education ground, Carifesta Avenue. We have been kindly accommodated by the Minister of Education, Dr. Rupert Roopnaraine, who continues to champion the cause of a holistic education encompassing academics, sport, music and arts.”The body will also be embarking on an ambitious coaching education drive and targeting the training and equipping of school teachers from all regions of Guyana.It’s often repeated main goal is the establishment of a baseball facility and in 2016 the body moved inexorably closer to achieving this.“We have no doubt that in 2017 much will be done to achieve our goal of a world class baseball academy for the benefit of our entire nation’s youths,” the statement ended by saying.last_img read more


first_imgIT’S Junior Cert and Leaving Cert time – and children may be feeling the pressure.Good luck to everyone in the county doing exams over the next couple of weeks.Here’s our top ten tips to beating exam stress: Don’t spend the night before an exam cramming. You won’t perform well if you are sleep deprived. Instead get an early night and a good night’s sleep.On the morning of the exam, get up early so that you’re not in a rush and make time to have a good substantial breakfast.Avoid being late by arriving at the exam room ahead of time. This will allow you to calm your nerves before you go in.Don’t try to study whilst waiting to enter the exam room and stay away from anyone who is panicking about the exams. Panic can be contagious- so stay away from people who make you feel worse.Once in the exam room take a few deep slow breaths. The calmer and more relaxed you are, the more alert you will be.If your mind goes blank, close your eyes for a few moments and take a few deep breaths. This will help you regain your composure.Avoid looking at other people. They will always seem to be writing more and appear more confident than you. It’s your exam so just worry about yourself.After the exam do not engage in a post-mortem. Don’t focus on questions you were unhappy with, instead, concentrate on what has gone well.Don’t put on a brave face. If exam stress is getting you down, let someone know how you’re feeling.Take a break before starting to study for the next exam. You’ve earned it!TOP TEN TIPS TO BEATING EXAM STRESS! was last modified: June 2nd, 2015 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:examGuidestresslast_img read more