While KLP posted a -0.5% first half investment return on a value-adjusted basis, in booked terms – the actual return passed on to customers – the return was a positive 1.9%.Total group assets rose to NOK786bn (€74bn) at the end of June, from NOK763bn at the end of 2019, according to the interim financial data.“Despite low returns in the financial markets, KLP is still very solid, and well equipped to face further unrest for a long time, without our customers having to worry,” Thornes said.Among individual asset classes, the pension fund’s equities holdings ended the first half with the weakest return, losing 7.0%, while short-term bonds produced a 4% return, long-term/hold-to-maturity bonds made 1.8%, and property generated 1.5%.KLP said the sale of its DC business was still awaiting approval from the Norwegian FSA (Finanstilsynet), but that it had met with a positive conclusion from the Norwegian Competition Authority. Final approval is expected during the third quarter of this year, the firm said.“With the framework for public sector pensions now resolved, given the limited DC market in the public sector – and bearing in mind the need for major investments in system upgrades to manage the revised framework conditions and give customers the best service – it is the right time to find an owner for the company who will be able to see to customers’ best interests in future,” Thornes said.KLP also reported that it repurchased €306m of its own subordinated debt in the six-month period, which resulted in NOK291m costs in its accounts, but said the move would give rise to large annual cost savings over the next five years.Looking for IPE’s latest magazine? Read the digital edition here. Norway’s largest municipal pension provider Kommunal Landspensjonskasse (KLP) revealed a 0.5% investment loss for the first half of this year, but sought to reassure local authority customers it was still solid enough to stand a long period of market turmoil.Reporting interim results, the pension fund also revealed it was taking a NOK152m (€14.3m) loss on the sale of the defined contribution (DC) corporate pensions subsidiary KLP Bedriftspensjon, which it announced in June it was selling to DNB Livsforsikring.Investment performance improved in the second quarter for KLP, with a value-adjusted return of 3.2% for the three-month period, following the 3.7% loss it reported for January to March.Sverre Thornes, KLP chief executive officer, said: “The world’s financial markets remain challenging, but we have built up our buffer capital over several years in order to ensure we are equipped for market unrest like this.”
Solicitor General Jose Calida. CNN He then reiterated his request for anoral argument to defend the OSG position that the network’s franchise must benullified due to several violations. Calida added that what the OSG want isto stop the discussion while the case is pending in court. In a consolidated reply to the SupremeCourt, Solicitor General Jose Calida said ABS-CBN’s claim that a gag order willimpair the people’s right to information is “overly sweeping if not altogetherexaggeration.” The SC did not make any action onCalida’s quo warranto petition as well as in the gag order motion against thenetwork earlier this week and the high court will tackle the cases during itsen banc session on March 10./PN He added: “It is respectfullysubmitted that the Honorable Court’s plenary power embodied in the Constitutionclearly gives statutory basis to the Honorable Court’s jurisdiction to hear thepresent quo warranto petition.” MANILA – The Office of the SolicitorGeneral (OSG) insisted there was a need to issue a gag order against partiesfrom discussing in public the quo warranto case filed against televisionnetwork ABS-CBN. “The issues raised before thisHonorable Court do not present political but legal questions which are withinits province to resolve,” the Solicitor General said. In his quo warranto petition to thehigh court, Calida said the OSG uncovered numerous abuses and violations ofABS-CBN Corp. and ABS-CBN Convergence of its legislative franchise. Calida also maintained that the quowarranto is allowed under the Rules of Civil Procedure in order to obtain ajudicial declaration of the supposed violation committed by the network. Calida also said the network violatedthe constitutional provision against foreign ownership of media entities whenit issued the Philippine Depository Receipts to foreigners. “The exercise of such right is notabsolute for it may be so regulated that it shall not be injurious to the equalenjoyment of others having equal rights, nor injurious to the rights of thecommunity or society,” Calida said.
Roberts said there is still no timetable for Wood’s return but his schedule this week is similar to the one Clayton Kershaw went through in the week before he was activated from the IL.“Thursday would be the next progression, and that would be a simulated game facing some hitters,” Roberts said. “This is the first part of the progression — doing the up-and-down bullpen and then the next thing would be that sim game.”SEAGER STATUSShortstop Corey Seager missed his third consecutive game with a back injury but is “continuing to progress,” according to Roberts. Seager was on the field before the game at Dodger Stadium on Monday, going through agility drills and testing his back.“He’s moving around better,” Roberts said. “Yesterday I saw him and he was in pretty good spirits, moving around. I’m not sure when he’s going to get back on the field and start kind of running around, take some ground balls, let alone take any swings. Once that day comes, we’ll have more clarity.”For now, the Dodgers have not put Seager on the IL, willing to play shorthanded for a handful of days in the hopes that Seager won’t need a full 10 days to recover.“Fortunately, with the versatility we do have, it’s not as imperative,” Roberts said of the IL move. “Right now, we’re certainly managing and we feel OK about it.”ALSOOutfielder Terrance Gore cleared waivers and has been optioned to the Dodgers’ alternate training site. Gore was designated for assignment on July 30.Related Articles Dodgers hit seven home runs, sweep Colorado Rockies Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco Dodgers’ Max Muncy trying to work his way out of slow start LOS ANGELES — Joe Kelly will be on the injured list as he awaits the outcome of his appeal of an eight-game suspension.The Dodgers placed Kelly on the IL on Monday with shoulder inflammation. The right-hander appeared in seven of the Dodgers’ first 16 games, pitching 6 1/3 innings without being charged with a run, striking out five, walking five and giving up five hits.Demoted last week when rosters were trimmed from 30 to 28, lefty reliever Adam Kolarek was recalled from the alternate training site to replace Kelly in the bullpen for now.“Joe just has some shoulder discomfort,” Dodgers manager Dave Roberts said, adding that Kelly had an MRI but Roberts was unaware of the results as of Monday afternoon. “It’s been bothering him here for a few days. Newsroom GuidelinesNews TipsContact UsReport an Error “Give him some time on the IL to let it calm down a little bit and hopefully he’s ready once that 10 days is up.”Once that 10 days is up Kelly will probably be unavailable even longer. Kelly revealed on Ross Stripling’s podcast last week that he was scheduled to have the appeal of his eight-game suspension heard on Monday. Kelly was suspended for throwing behind two Astros hitters and setting off a benches-clearing confrontation in Houston on July 28.Kelly is one of 56 pitchers around the league to go on the IL for non-coronavirus reasons. According to ESPN Stats & Info, that is well ahead of the pace in 2019 (24) and 2018 (19) through the first 18 days of the season.“I don’t think it’s coincidence,” Roberts said of the increased number of injuries following a three-week preseason.Dodgers left-hander Alex Wood is also on the IL with shoulder inflammation. He was scheduled to throw a 30-pitch bullpen session Monday, broken into two 15-pitch bursts with a simulated inning break between. If that goes well, Wood is scheduled to throw a simulated game Thursday either to hitters at the alternate training site or at Dodger Stadium before the game against the Padres. How Dodgers pitcher Ross Stripling topped the baseball podcast empire Cody Bellinger homer gives Dodgers their first walkoff win of season