Sweden’s largest pension fund Alecta saw its investment returns on both defined benefit (DB) and defined contribution (DC) products dip in 2016, with solvency levels also contracting.The return on DB pensions was 5.1% in 2016, according to full-year figures just released, down from 5.8% in 2015. DC pensions ended last year with a 5.8% return, down from the 7.9% produced the year before.Alecta pointed out that the five-year average for the two pension types was 8.9% and 12.5% as of last year, .Magnus Billing, the current chief executive of Alecta, said: “I am proud of [DC fund] Alecta Optimal Pension’s long-term return over the five-year period.” The slight fall in returns followed a warning from Alecta’s then-chief executive Staffan Grefbäck a year ago that the good return seen over many years and the low level of interest rates suggested future expectations should be kept low.Speaking about 2016 results, Billing said the company had now completed its recent property transactions in the US and could focus on drawing efficiency benefits from its ongoing property management.Earlier this month, Alecta offloaded the last of its directly-held US real estate assets, selling its portfolio of 22 assets, worth around $1.8bn (€1.7bn).Following the US property sales, Alecta has now exited all its directly-held international real estate investments, in accordance with its new strategy.“We also recently reached a milestone of having SEK10bn [€1.1bn] invested in green bonds,” Billing said, adding that it was “excellent and quite natural” that Alecta put part of its managed assets into this type of sustainable investment.The portfolio of DC product Alecta Optimal Pension now had SEK70bn in assets, of which 63% is invested in equities, Alecta said.Meanwhile, the DB pension scheme had assets of SEK697bn at the end of December 2016.The group solvency level fell to 166% at the end of 2016, from 171% a year before, but Alecta still described this as strong.Administrative costs fell to 0.09% from 0.1%.
Andrew Boguslawski, admitted to explosive charges in Ohio.An attorney for a Moores Hill man who pleaded guilty to having explosive devices in his car in Ohio is asking for a lighter sentence.Andrew Boguslawski was arrested after he was stopped for speeding by an Ohio state trooper on I-70 on New Year’s Day.Prosecutors said he had nine unregistered bombs in his car and four devices that be converted into explosives.He admitted to the charges earlier this year and now his lawyer is seeking a reduced sentence.Defense attorney Steve Nolder is asking for credit for time served in the county jail followed by 18 months of house arrest. Nolder said his defendant is not a future threat to society and the sentence would ensure he is rehabilitated.Boguslawski could be sentenced up to 10 years in prison and receive a $250,000 fine. The hearing is scheduled for Aug. 8 in federal court in Columbus.
Dodgers southpaw Alex Wood was ripped badly when he pitched in Arizona last Friday, to the tune of eight runs — six earned — in just 1 2/3 innings.What a difference four days make.On Wednesday, Wood came through with an absolute masterpiece. He allowed just one hit over eight innings and the Dodgers rode a home run by A.J. Ellis and an RBI single by Corey Seager to a 2-0 victory over the Colorado Rockies before 45,906 at Dodger Stadium.Wood allowed just a single by Kyle Parker in the second inning. He struck out five and did not walk a batter on 78 pitches. Thirteen of his 24 outs were via the ground ball. When Wood (11-10) came into the dugout after a quick eighth, Mattingly went to shake his hand, the sign he was coming out. Wood at first refused to shake.“He looked at me kind of funny,” Mattingly said, laughing. “I just said, ‘That’s it, don’t even ask.’”Mattingly said that if the lead were 4-0, he might have left Wood in. Wood found the humor in fanning on the handshake.“I was a little surprised (to be coming out),” Wood said. “He came to shake my hand, I was pulling it back a little bit.”He understood the thinking.• Video: Dodgers manager Don Mattingly discusses pulling Alex Wood after 8 innings“Obviously, you always want to stay in, but I wasn’t going to fight too hard, especially after my last one,” he said. “If I wouldn’t have had that last one I probably would have put up more of a fight, but 2-0 ballgame, we’re trying to clinch our playoff berth and have some confidence going into this weekend against Pittsburgh.“Ninth inning, as everybody knows, is Kenley’s for the most part.”The Dodgers have Thursday off and host Pittsburgh beginning Friday.Wood liked his stuff.• Photos: Los Angeles Dodgers defeat the Colorado Rockies 2-0“Yeah, you know, baseball’s a funny game, right?” he said. “It was obviously my worst of the year the last time out. Didn’t really have all three (pitches), which doesn’t happen hardly ever.“Then come in tonight, thought we commanded the fastball to both sides of the plate and felt the changeup was real good. And, obviously, got a lot of early contact tonight.” Wood was asked how the four days between the two starts were.“Long,” he said.Ellis hit his sixth home run of the year off Rockies southpaw starter Jorge De La Rosa (9-7) in the second inning and Seager made it 2-0 with an RBI single in the sixth after a double by Austin Barnes.Ellis loved what he saw from Wood.“He was phenomenal tonight, as good as I’ve caught him,” Ellis said. “And I know for him personally coming off Arizona, this was a big start for him and a big start for us trying to win the series. Give him all the credit, he was outstanding tonight.”Seager said the 2-0 lead felt larger the way Wood was working.“Wood threw really well,” he said. “Eight innings, one hit, something like that. When you do that, one or two runs is like eight or nine runs.”The Dodgers did not start several regulars after Tuesday’s marathon and their lineup included four players who were recently in Triple-A. Third-string catcher Barnes, a former infielder, started at second base with Chase Utley starting at first for Adrian Gonzalez. The low pitch-count notwithstanding, Wood did not get the chance to finish because closer Kenley Jansen was brought in to save his 32nd game. Jansen gave up a two-out single to Charlie Blackmon before striking out Carlos Gonzalez to end the game.The game took 2 hours and eight minutes, a night after the teams played for 16 innings over 5 hours and 23 minutes.The first-place Dodgers (84-61) reduced their magic number to 10 and retained their lead of 7 1/2 games over the Giants in the NL West.Dodgers manager Don Mattingly talked about the ground balls Wood induced.“It seemed like he (Wood) was down all night,” Mattingly said. “He just seemed a little sharper with everything. You never know what goes on from game to game. It was good tonight. He got on a little roll early and just kept his pitch-count down.” Newsroom GuidelinesNews TipsContact UsReport an Error