Sweden opens door to unlisted direct investments for AP funds

first_imgIn the proposal, the Ministry of Finance also announced a plan to analyse a series of other liberalisations to the mandate this autumn, with the resulting changes set to come into effect on 1 July 2019.The changes – which are to be discussed by the Pensions Group – relate to direct investments in unlisted companies and loans.The additional proposals follow a lengthy consultation on the revised mandate, during which calls came for the funds to be given the freedom to make unlisted direct investments.Tobias Fransson, head of strategy and sustainability at AP4, told IPE that the second part of the investment liberalisation was an important complement to the set of changes now about to go before parliament.“This will give the AP funds the ability to invest very long term, cost effectively and in line with international market practice,” he said.Specifically, the Pensions Group will look into whether the AP funds should be able to make direct investments in unlisted infrastructure companies, make co-investments in unlisted shares, and invest in illiquid loans.In addition, the politicians will consider whether the funds should be allowed to keep a stake of more than 10% when a company is listed.The group will also consider whether the pension funds may provide loans to companies in which they have invested.The new investment rules, which were first proposed last summer, allow the buffer funds more flexibility and will take effect on January 1, 2019.Per Bolund, minister for financial markets, said: “The proposal includes permission for the funds to put a larger proportion of their assets outside the stock markets, while at the same time not having to have such a large portion invested in fixed-income securities.”The revised mandate also includes legal requirements for the funds to be managed in an “exemplary manner” with regard to responsible investment and responsible ownership. Sweden’s four main state pension buffer funds could be granted permission to make direct investments, on top of a package of amendments already in the pipeline that are now set to take effect in January.The country’s Council on Legislation (Lagrådet) on Thursday approved a final proposal for new investment guidelines for the AP funds from the Ministry of Finance.This rubber-stamping paves the way for the government to present the proposed legislation to parliament before the summer. Although the guidelines have yet to gain parliamentary approval, they are likely to go through as they have already been agreed by the cross-party Pensions Group.last_img read more

India set to play 15 internationals in 13 months

first_imgMumbai, May 23 (PTI) The Indian national football team is set to play 15 internationals – including eight at home – in a 13-month period, including some which have already been held, the All India Football Federation announced today.”All India Football Federation (AIFF) and its marketing partners, Football Sports Development Limited (FSDL), have shared the national football team?s yearly fixtures beginning March 2017 wherein the India National Team will play 15 competitive games including 8 matches in India (March 2017-March 2018),” AIFF stated today.”All the international fixtures will be broadcast live on Star Sports and its digital platform, Hotstar,” it said.Indias next international is a friendly against Nepal here at the Andheri Sports Complex on June 6 followed exactly seven days later by the 2019 AFC Asian Cup Qualifier game against Kyrgyzstan at Bengaluru.”Followed by the Champions Cup in August, the team returns to its AFC Asian Cup qualifier campaign as they play the last team in the group, Macau in the away leg on September 5, 2017,” AIFF said.”The national team will take part in two training camps between October 2017 to November 2017 where they also play the home games of the AFC Asian Cup qualifiers against Macau (October 10, 2017) and Myanmar (November 14, 2017).”India National Team will also come together for additional friendly games at Home on October 4, 2017, November 8, 2017, and March 22, 2018, against teams yet to be confirmed. The last match of the AFC Asian Cup qualifier will be played in an away leg against Kyrgyzstan on March 27, 2018,” the AIFF said.”The national team played a total of 6 games that included 4 home games in the same duration last year,” it added.advertisementIndia have already played and won 2 games in March – the friendly against Cambodia and AFC Asian Cup qualifier against Myanmar.”With a clear focus to increase home games, AIFF recently launched the annual multi-country Champions Cup to be played by 4 countries including India in August 2017. The competition will be held from August 18-27, 2017 where the team will play 4 games provided they reach the finals,” AIFF said further. PTI SSR NRB BASlast_img read more