New head of fixed income at Finland’s VER to expand team’s skills

first_imgFinnish state pension fund Valtion Eläkerahasto (VER) has appointed Mikko Räsänen as its head of fixed income, with the expectation that he will broaden the team’s spectrum of skills.Räsänen takes over from Jukka Järvinen, head of fixed income at the €18.7bn pension fund for 15 years before leaving the job in March.Previously a vice-president at the OP Financial Group in Finland, Räsänen will start his job at VER today.Timo Viherkenttä, chief executive at VER, told IPE: “With his strong experience, Räsänen is expected to broaden further the spectrum of expertise in VER’s fixed income team, which has been making good risk-adjusted returns over the years.” The pension fund’s fixed income allocation currently consists of a broadly diversified portfolio with a relatively high exposure to emerging markets, he said. “In the present low-interest-rate environment, generating good returns with a fixed income portfolio is a particularly challenging task,” Viherkenttä said.During his years at OP Financial Group, Räsänen headed several different teams in portfolio management and product development.The pension fund said the fixed income team, since March, had been led by Sami Lahtinen, who combined the interim role with his job as the head of overlay and hedge funds.Viherkenttä said Räsänen would assume responsibility for VER’s fixed income portfolio, worth approximately €9bn.This equates to an allocation of nearly 50% of the pension fund’s total assets.Viherkenttä is VER’s new chief executive, having taken over the role from Maarit Säynevirta in June.last_img read more

SC reinstates graft case vs Lapid, 3 others

first_imgManila – The Supreme Court (SC) has reversed an earlier ruling by theSandiganbayan in relation to the graft charges filed against Sen. Lito Lapidand three others over the 2004 fertilizer fund scam. Sen. Lito Lapid and three others have been slapped with graft charges in 2015 for buying P4.761 million worth of liquid fertilizers without public bidding. CNN PHILIPPINES In a decision that was made publicyesterday, the SC’s second division reinstated the cases against Lapid, Ma.Victoria Aquino-Abubakar, Leolita Aquino, and Dexter Alexander S.D. Vasquez“with reasonable dispatch.” The SC said the respondents wererecommended indicted in 2013, a resolution the Ombudsman approved on June 2014.The respondents filed motions for reconsideration and were charged in courtonly on Nov. 4, 2015. “No such delay attended theOmbudsman’s proceedings that would warrant the dismissal of the criminal caseagainst herein respondents,” it added. Just months after the case was filed,the Sandiganbayan found that it violated the defendants’ right to the speedydisposition of cases and dismissed it, prompting the Office of the Ombudsman totake the case to the High Court./PN The High Court added the Sandiganbayanhas gravely abused its discretion when it dismissed the case against Lapid andother fellow respondents supposedly due to inordinate delay. “In sum, delay becomes inordinate onlyin the presence of arbitrary, vexatious and oppressive actions or inactions thatare discernible from the proceedings,” the SC said. Lapid and three others have beenslapped with graft charges in 2015 for buying P4.761 million worth of liquidfertilizers without public bidding.  last_img read more

Buhari Congratulates Super Eagles

first_imgThe Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said: “Having keenly followed the senior national football team’s progress in the qualifying stages, President Buhari is enthused by their confidence, sense of patriotism and professionalism, and commends these attributes to other Nigerians.”The President also commended the coaching crew, the Nigeria Football Federation (NFF) and the Supporters Club, especially Nigerians residing in South Africa who turned out in great numbers to cheer the players, for a job well-done, and assures them of the unflinching support of the federal government going forward.“The President wishes the young Nigerian football ambassadors more successes as they prepare for the AFCON tournament in Cameroon,” Adesina stated.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram By Shola Oyeyipo in AbujaPresident Muhammadu Buhari has joined millions of football-loving Nigerians to felicitate with the Super Eagles of Nigeria on their qualification for the 2019 Africa Cup of Nations after a draw with the Bafana Bafana of South Africa in an encounter in Johannesburg Saturday.Buhari commended the Nigerian team for their spirited and disciplined performance against the formidable South African side which earned them qualification and making the Nigeria -Seychelles game a mere formality. Muhammadu Buharilast_img read more