KLP sees demand heat up for DC pensions

first_imgKLP reported a 1.7% value-adjusted return on customer funds between January and March, and said strong return from equities was the major contributor to the 2017 result to date.Sverre Thornes, KLP’s chief executive, said: “The good result enables us to maintain a lower level of premium than the current very low interest rates would indicate.”The company, whose total assets grew to NOK612bn (€65.3bn) by the end of March from NOK596bn at the end of December, said it had “stable underlying growth” in its premium reserves.The solvency ratio rose to 214% during the quarter, from 209%, according to the interim figures.KLP said the ongoing municipal and regional reform in Norway might affect its customer base, and that it was following the situation closely. Norway’s biggest municipal pensions provider saw increased demand for defined contribution (DC) pensions among corporate clients in the first three months of the year.Kommunal Landspensjonskasse (KLP) set up 80 new contracts in the first quarter, it said.Commenting in its Q1 results statement, the pension fund said: “KLP aims to be a sound provider for these customers… and is pleased that more and more customers are choosing KLP for their defined contribution pension schemes.”Alongside the 80 new corporate DC customers, the fund said 3,286 pension capital certificates had also been transferred to the company in the period.last_img read more

Giannis Antetokounmpo: The ‘Greek Freak’ of West African Heritage

first_imgOne of the top performers of the NBA’s restart thus far, and a man who has surely caught the attention of viewers, is the ‘Greek Freak’: Milwaukee Bucks’ number 34, Giannis Antetokounmpo.Viewers on DStv can look forward to thrills and spills from the world’s best basketball league, as ESPN 2 brings live action from the 2019-20 National Basketball Association (NBA season) this coming week, Friday 7 to Thursday 13 August 2020.Though the 25-year-old, who stands at an imposing 6ft11in (2.11m), was born in Athens, Greece, he is also very much a son of Africa, with his Nigerian parents having emigrated to the European country just three years before he was born.Antetokounmpo made his name in Greek basketball before being a first-round (15th overall) draft pick in 2013, going on to make his NBA debut with the Bucks that same year, aged just 18 – making him one of the youngest NBA players ever (in history, only 15 were younger when they first debuted).The ‘Greek Freak’ grew from strength to strength through the years (including a touching appearance for Team Africa in the 2015 NBA Africa Exhibition Game in Johannesburg, South Africa), becoming an All-Star team member every season since 2017 and claiming the holy grail individual prize, NBA Most Valuable Player, in 2019.This season he is again very much in the running for the MVP prize, though he faces stiff competition from LA Lakers star and all-time great LeBron James. If Antetokounmpo can lead Milwaukee to just their second NBA Championship (and a first since 1971, back when they boasted the era-defining talent of Kareem Abdul-Jabbar) then surely he will become just the 12th man to win back-to-back MVP titles. The ‘Greek Freak’ will be particularly motivated to prove Scottie Pippen wrong, with the former Chicago Bulls legend recently saying that he doesn’t believe Antetokounmpo has yet reached the level where he can drag the Bucks to glory.“I don’t think he is really there yet,” said Pippen. “You’re talking about winning a title. You’re talking about playing in the NBA finals. You’re talking about making big shots. Being able to take those shots with great confidence. I just don’t see him being ready right now for that.”However, Antetokounmpo’s credentials as MVP winner are enough to sway even Dwayne Wade – the best friend of LeBron James!For me Giannis came back this season as the reigning MVP, he didn’t do anything to lose that. LeBron was catching him, he was really picking up steam before the season ended [was suspended],” said Wade.“I felt that the last 20 games was going to really determine who was going to be MVP. We did not have that, Giannis did not lose MVP, I felt he’s been the front runner. But LeBron is the best player in the game right now and what he’s doing in his 17th year. If there was an award for that, he’ll get that award. But overall Giannis has been the MVP all season.” Which player is your pick for MVP? See both Antetokounmpo and James in action in the NBA, exclusively on ESPN.Visit www.dstv.com to subscribe or upgrade, and join in on the excitement. And while you’re on the move, you can stream the action on DStv Now.last_img read more