(WBNG) — Due to the COVID-19 pandemic, schools in our area are ending their academic year early. The following is a list of when schools are closing, the list will be updated as information becomes available: Binghamton — June 12Chenango Forks — June 19Chenango Valley — June 15Johnson City — June 12Maine-Endwell — June 12Newark Valley — June 12Owego-Apalachin Central — June 12Union-Endicott — June 12Vestal — June 12Whitney Point — June 12 For a list of DCMO BOCES schools, click here.
Source: Christian Hyldahl, CEO, ATPWithin this, the hedging portfolio – which is invested in bond-like instruments designed to protect the pension guarantees ATP gives – shrank to DKK650.8bn from DKK658.8bn, and the investment portfolio grew to DKK117.7bn from DKK100.4bn.ATP, which uses a risk-factor approach to manage its investment portfolio, produces results that are not easily comparable to other pension funds because it is able to operate in a hedge fund-like manner, effectively borrowing from its huge hedging portfolio to generate return for the investment portfolio.Within ATP’s investment portfolio, private equity produced a return of DKK5.3bn, listed international equities contributed DKK4.9bn and Danish listed equities returned DKK4.2bn, the fund said.During 2017, ATP reduced its risk allocation to the equity ‘factor’ to 44% at the end of the year, from 50% at the end of 2016. It increased exposure to both inflation and interest-rate factors, to 15% and 31% respectively, from 9% and 25%.Hyldahl told IPE these changes had been made in order to achieve a more balanced portfolio.In 2018, ATP plans to focus on real estate acquisitions and its environmental, social and governance (ESG) policy, he said.“We are putting a lot of focus on generating good returns and continuing to add to the portfolio,” Hyldahl said. “If we find good real estate assets that can be a good investment for us over the long-term, then we will go for them, and we are also working on integrating ESG into our operation, both as an asset owner, and also by monitoring all kinds of risks in the portfolio.”The pension fund also announced its supervisory board had ramped up ATP’s long-term performance target to 11%, from 7%, to bolster the aim of maintaining the purchasing power of its pensions.This meant the target return for 2018 was equivalent to DKK12.9bn.Hyldahl said the new target was achievable over the long term but there were likely to be some individual years when it would not be reached.Of the profit the pension fund made on its investment portfolio, DKK1bn was transferred to its guarantees as a result of increased life expectancy, and DKK6.4bn went to members in the form of a 1% increase in their bonus.This led to a net profit for the year of DKK17.3bn, up from 2016’s loss of DKK649m.Although ATP said its hedging strategy was successful in 2017, with its hedging portfolio making a profit of DKK1.5bn before the effect of the break in its yield curve, the fund said hedging had resulted in a DKK1.5bn loss overall.The yield curve break refers to guarantees extending beyond 40 years being valued at a fixed rate of 3%, as opposed to shorter guarantees which are valued at market rates. On these longer guarantees, when the market rate is lower than 3% ATP takes a loss, but when it is higher, it gains. “The strong performance is due to positive contributions from virtually all asset classes, which has made it possible to increase pensions for all members, while also being able to build up our bonus potential by DKK17.3bn.”ATP’s total assets increased to DKK768.6bn at the end of 2017, from DKK759.2bn the previous year. Denmark’s largest pension fund ATP generated its best investment return for many years in 2017, with a gain of 29.5%.This translated to a DKK29.5bn (€3.96bn) gain for on its investment portfolio.The return relates to assets in ATP’s investment portfolio, which consists of the pension fund’s bonus potential – only around a seventh of its total assets. The gain was driven mainly by strong returns on equities, the pension fund said.Christian Hyldahl, ATP’s chief executive, said: “We achieved an exceptionally solid return in 2017 and generated the best investment return in many years.
—Persaud, eight-time Guyana Cup champion, settles for third placeMAHENDRA Bhagwandin opened his 2018 season by winning the Lusignan Golf Club’s (LGC) Trophy Stall-sponsored tournament on Saturday at the club’s facility, Lusignan, East Coast Demerara.In conditions which, according to some golfers, were very difficult, Bhagwandin registered a Gross 88 and Net 66 to cart off top honours, ahead of Pandit Ravi who scored a gross 88 and Net 70, and Guyana Cup Open eight-time champion, Avinash Persaud, who returned a Gross 70. Mike Mangal ended fourth with a Gross of 81 and Net 68.The Nearest to the Pin award went to Haresh Tiwari.LGC’s president Aleem Hussain, speaking at the simple presentation ceremony, thanked the golfers for coming out and participating in the Trophy Stall tournament, which was the first for the year, and noted that the golf season in Guyana does not start until the middle of the year, but he and his team worked to ensure that this year’s season teed off during the first month of the year and promised that there will be yet another tournament before the end of January.The club also inducted five new members, including international and popular Guyanese designer, Sonia Noel.Chief Executive Officer of MARCORP, Jorge Medina, was on hand to assist with the presentation of prizes to the respective winners.