DOCSLIB.ORG

Annual Report 2019 Nordea Life Assurance Finland Ltd Nordea Life Assurance Finland Ltd Annual Report 2019 2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019 Nordea Life Assurance Finland Ltd Nordea Life Assurance Finland Ltd Annual Report 2019 2 Annual Report 2019 Nordea Life Assurance Finland Ltd Nordea Life Assurance Finland Ltd Annual Report 2019 2 Annual Report 2019 Nordea Life Assurance Finland Ltd Annual Report 2019 3 Content Annual Report 2019 4 The 27th year of operation for Nordea Life Assurance Finland Ltd Premium income The investment portfolio of the company in 2019 Challenging year for investment baskets Claims paid Expenditure Personnel Result Technical provisions Estimate of the realisation of the equity principle from 2019 Solvency Risk management Group structure and ownership Future outlook Administration and auditors of Nordea Life Assurance Finland Ltd Proposal of the Board of Directors for distribution of profit Events subsequent to the financial year Nordea Life Assurance Finland Ltd - Financial Statements 8 Profit and loss account 9 Balance sheet 10 Cash flow statement 12 Notes to the Financial Statements 13 Risk Profile 50 Signatures of Report of the Board of Directors’ and Annual Accounts 54 Auditor’s Report 55 Definitions for Key Figures 58 Nordea Life Assurance Finland Ltd is part of the Nordea groups in Europe in terms of total market capitalisation Group. We build strong and close relationship through our with around 11 million customers, 31,500 employees and engagement with customers and society. Whenever people 600 branch office locations. The Nordea share is listed strive to their goals and realise their dreams, we are there to on the Nasdaq Stockholm, Nasdaq Helsinki and Nasdaq provide relevant financial solutions. We are the largest bank Copenhagen exchanges. in the Nordic region and among the ten largest financial Nordea Life Assurance Finland Ltd Kaisaniemenkatu 6, Helsinki FI-00020 NORDEA nordea.fi Annual Report 2019 Nordea Life Assurance Finland Ltd Annual Report 2019 4 Annual Report 2019 The 27th year of operation for Nordea Life Assurance Finland Ltd Premium income In the Finnish life insurance market, premium income in- Compared to the previous financial year, the premium income creased compared to the previous year. Premium income for for Nordea Life Assurance Finland Ltd increased, totalling Nordea Life Assurance Finland Ltd developed also positively, EUR 2,064.2 (1,106.1) million before reinsurers were taken into ending significantly higher level than year before. Unit-linked account. insurance accounted for the majority of the company’s pre- mium income, as had been expected. The share of unit-linked premium income of the total pre- mium income remained at a high level, exceeding 97 per cent In the spring, the company launched a well-diversified and of total premium income. In euros, unit-linked premium in- responsible investment solution to the customers. Nordea come totalled EUR 2,007.6 (1,039.8) million. The premium in- Globe Baskets is a solution for the customers who do not come of traditional life insurance in turn accounted for EUR want to make investment decisions by themselves and who 20.5 (20.4) million and the premium income from risk life in- value responsibility. Globe Baskets aim to impact positively surance policies amounted to EUR 36.1 (45.9) million. on the environment and society and promote good corpo- rate governance. Globe Baskets are investment baskets that When compared to the previous financial year, the premium are managed by Nordea Life Assurance Finland and can be income from endowment policies increased, totalling EUR linked to capital redemption plan, endowment or individual 366.5 (262.9) million. Premium income from capital redemp- pension policy under certain conditions. tion policies increased from the previous year, totalling EUR 1,596.0 (727.2) million. Premium income from individual pen- On October 1st, 2019 the company completed the transfer of sion policies amounted to EUR 65.6 (70.0) million. the health and accident insurance portfolio to its subsidiary Nordea Insurance Finland Ltd. The transfer did not have any customer impact, as only the insurance coverage company The investment portfolio of the company was changed for these customers. The insurance portfolio in 2019 transfer was completed as a part of a transfer of business, in The long-term strategy of the company has been to keep the which the whole non-life insurance business was transferred total risk of its investment portfolio relatively low. The low to Nordea Insurance Finland Ltd, and on top of the insurance risk level of the investment portfolio has been achieved by portfolio and assets linked to it, two employees were trans- comprehensively diversifying the portfolio into different as- ferred to Nordea Insurance Finland Ltd. Nordea Life Assur- set classes and by selecting investments for the portfolio that ance Finland Ltd subscribed 3,000 new shares of Nordea would react independently of one another in various market Insurance Finland Ltd in a private placement as part of the situations. This strategy was continued in 2019. There were no transfer of business. significant changes in the asset allocation from the previous year. During the year, the exposure to domestic real estate During the financial year the company continued simplifying investments, alternative investments and domestic equities and digitalising business processes and adopting agile devel- were decreased in the company’s investment portfolio. opment methods. Simplification of the application field has proceeded according to company’s plans. The performance of the portfolio relative to the risk level was strong. When measured in euros, equities, corporate bonds, The measures taken to lower the risk level of the investment and long duration government bonds provided the best re- portfolio in the previous financial years and the long-term turns. Return on real estate- and private equity funds as well strategic policy of focusing on unit-linked insurance con- as short duration government bonds were negative. tinued to have a positive effect on the company’s solvency figures. In 2019, owing to the strong solvency, the company At the end of the year, fixed income investments accounted credited a higher number of guaranteed-return policies for 70.1 (67.9) per cent. Equities and equity-type investments within the scope of the equity principle compared to the dis- accounted for 7.8 (9.3) per cent, excluding hedges. The share tribution target set for the equity principle. Furthermore, the of real estate investments was 11.5 (13.9) per cent, alternative company’s solvency position and the financial statements investments 6.7 (7.5) per cent and cash 4.0 (1.5) per cent. confirmed for the previous year allowed the payment of a div- idend of EUR 126 million during the last quarter. A successful year for investment baskets During the financial year, the company made for the years 2019 was a very successful year for the investment baskets, 2026–2027 a fixed-term supplement of premium provisions as the baskets yielded very good profits. Equity investments worth EUR 31.0 million concerning endowment policies and provided good returns on all markets the whole year, as did pension policies with a fixed calculated interest rate. The the fixed income investments. fixed-term supplementary reserve will decrease the calcu- lated interest rate of the policies in question to one per cent In the beginning of April, five new Globe baskets, that are for a fixed term for the years 2026–2027. Given the fixed-term a part of Nordea’s sustainable investment selection, were supplement of premium provisions extending to the end of added to the investment assortment. Future Kasvu and Fu- 2025, made by the company during the previous financial ture Maltti, investment baskets linked to the Nordea Future year, the calculated interest rate of the supplement of pre- product, were merged to the Stable and Growth pension in- mium provisions for the policies in question will be one per vestment baskets on the 25th of November 2019. cent until the end of 2027. Annual Report 2019 Nordea Life Assurance Finland Ltd Annual Report 2019 5 Asset Allocation Globe 10, 2019 Yield Basket 2019 9 % 15 % 8 % 27 % 30 % 15 % 55 % 41 % Asset Allocation Globe 25, 2019 Yield Basket 50, 2019 4 % 6 % 4 % 20 % 30 % 14 % 53 % 23 % 50 % Asset Allocation Globe 50, 2019 Yield Basket 75, 2019 4 % 10 % 7 % 14 % 35 % 1 % 55 % 74 % Asset Allocation Globe 75, 2019 Return Seeking Basket, 2019 1 % 5 % 9 % 15 % 22 % 68 % 80 % Asset Allocation Globe 90, 2019 Safety Seeking Basket, 2019 1 % 4 % 20 % 11 % 6 % ■ Equities ■ Fixed Income ■ Real Estate ■ Equities ■ Alternative Investments ■ Fixed Income 63 % 95 % ■ Money Market ■ Money Market Annual Report 2019 Nordea Life Assurance Finland Ltd Annual Report 2019 6 At the end of the year the company’s investment basket as- Estimate of the realisation of the equity sortment included the Yield baskets, Allocation baskets, Sta- principle from 2019 ble and Growth pension investment baskets, Equity- and During 2019, the levels of return on insurance policies sub- Fixed Income index baskets, Real estate basket and Equity ject to the equity principle were further adjusted to match the baskets. More information on the investment baskets can be general interest rate trends on the market. The level of cus- found on nordea.fi. tomer bonuses paid in 2019 exceeds the level of the yield of a ten-year German government bond, which has averaged -0.2 per cent. Therefore, the insurance policies which are subject Claims paid to the equity principle were credited by a bonus based on the Claims paid increased compared to the previous year, total- distribution target for the equity principle. ling EUR 2,540.6 (1,352.0) million. The amount includes sur- renders, which totalled EUR 2,124.8 (938.7) million. Their The notes include a chart that represents the total return share of the technical provisions at the beginning of the year given for endowment and pension insurances for the years was 15,1 (5.5) per cent.
Load more

Recommended publications
  • Siili Solutions
    Corporate Research Siili Solutions NOT TO BE DISTRIBUTED IN, OR TAKEN OR TRANSMITTED INTO, THE UNITED STATES, CANADA, JAPAN, AUSTRALIA OR IN ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. Results Analysis IT/Technology Finland 28 October 2020 Core also affected by COVID-19 For Siili, the negative impacts of COVID-19 materialised later than we had expected. However, our investment case remains intact and despite the COVID volatility the long-term outlook remains attractive for digital IT services. As a medium-sized player with a clear digital focus, Siili remains in a good position to capture its share of a growing market. Having cut our estimates, we reduce our fair value range to EUR 13-15. Key Data (2020E) Price (EUR) 11.70 Growth slowed down on COVID and Siili Auto Reuters SIILI.HE After very resilient H1 performance, Siili’s Core operations were hit by the effects SIILI FH Bloomberg of COVID-19. With customers downsizing projects and holding back on launching Market cap (EURm) 82 new projects, the growth in Siili Core flattened and the negative impact hit later Market cap (USDm) 97 than we had assumed. However, we remind that Q3 is a seasonally quiet quarter Market cap (EURm) 82 from which we cannot draw far-reaching conclusions. We also remain confident Net debt (EURm) (3) that demand on the Automotive side will cheer up after few months of normalised Net gearing (10%) Net debt/EBITDA (x) (0.3) car sales and that growth will normalise in 2021. Shares fully dil. (m) 7.0 More on new strategy in touch with the CMD on 3 November Avg daily turnover (m) 0.0 Siili is reshaping its strategy.
    [Show full text]
  • Final Report Amending ITS on Main Indices and Recognised Exchanges
    Final Report Amendment to Commission Implementing Regulation (EU) 2016/1646 11 December 2019 | ESMA70-156-1535 Table of Contents 1 Executive Summary ....................................................................................................... 4 2 Introduction .................................................................................................................... 5 3 Main indices ................................................................................................................... 6 3.1 General approach ................................................................................................... 6 3.2 Analysis ................................................................................................................... 7 3.3 Conclusions............................................................................................................. 8 4 Recognised exchanges .................................................................................................. 9 4.1 General approach ................................................................................................... 9 4.2 Conclusions............................................................................................................. 9 4.2.1 Treatment of third-country exchanges .............................................................. 9 4.2.2 Impact of Brexit ...............................................................................................10 5 Annexes ........................................................................................................................12
    [Show full text]
  • Printmgr File
    As filed with the Securities and Exchange Commission on November 12, 2015 Registration No. 333-206365 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 3 to Form F-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Nokia Corporation (Exact name of registrant as specified in its charter) Republic of Finland 3663 Not Applicable (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code Number) Identification Number) Karaportti 3, FI-02610 Espoo, Finland, +358 (0) 10-448-8000 (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices) Genevieve A. Silveroli, Nokia USA Inc., 6000 Connection Drive, Irving, Texas 75039, +1 (972) 374-3000 (Name, address, including zip code, and telephone number, including area code, of agent for service) Copies to: Riikka Tieaho Scott V. Simpson Vice President, Corporate Legal Michal Berkner Nokia Corporation Skadden, Arps, Slate, Meagher & Flom (UK) LLP Karaportti 3 40 Bank Street FI-02610 Espoo London E14 5DS Finland United Kingdom Tel. No.: +358 (0) 10-448-8000 Tel. No.: +44 20-7519-7000 Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective. If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ‘ If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
    [Show full text]
  • Half Year Financial Report 2020 Strong Earnings in Exceptional Circumstances: January-June Net Sales up 11 Per Cent, Operating Profit (EBITA) Improves by 36 Per Cent
    Digia Plc Half Year Financial Report 11 August 2020 at 8:00 am Digia Plc Half Year Financial Report 2020 Strong earnings in exceptional circumstances: January-June net sales up 11 per cent, operating profit (EBITA) improves by 36 per cent April-June 2020 • Net sales: EUR 35.2 (32.8) million, up 7.5 per cent • Operating profit (EBITA): EUR 4.1 (3.1) million, up 31.6 per cent; EBITA margin: 11.7 (9.5) per cent of net sales • Operating profit: EUR 3.7 (2.9) million, up 27.5 per cent; operating margin: 10.4 (8.8) per cent of net sales • Earnings per share: EUR 0.10 (0.08) January-June 2020 • Net sales: EUR 71.8 (64.6) million, up 11.0 per cent • Operating profit (EBITA): EUR 7.3 (5.4) million, up 35.9 per cent; EBITA margin: 10.2 (8.3) per cent of net sales • Operating profit: EUR 6.4 (4.9) million, up 31.5 per cent; operating margin: 8.9 (7.5) per cent of net sales • Earnings per share: EUR 0.18 (0.14) • Return on investment: 15.3 (14.8) per cent • Equity ratio: 44.9 (49.8) per cent • Profit guidance for 2020 remains unchanged: Digia's net sales will grow and operating profit (EBITA) will improve compared to 2019. Unless otherwise stated, the comparison figures provided in parentheses refer to the corresponding period of the previous year. GROUP KEY FIGURES 4–6/ 4–6/ Change 1–6/ 1–6/ Change EUR 1,000 2020 2019 % 2020 2019 % 2019 Net sales 35,193 32,750 7.5% 71,758 64,648 11.0% 131,824 Operating profit (EBITA) 4,111 3,124 31.6% 7,295 5,366 35.9% 11,003 - as a % of net sales 11.7% 9.5% 10.2% 8.3% 8.3% Operating profit (EBIT) 3,655 2,867 27.5%
    [Show full text]
  • Digia's Annual Report 2019
    Digitalisation that makes a difference Annual Report 2019 Contents Report by the Board of Directors Annual Review and Financial Statements Digia’s direction 3 Report by the Board of Directors 36 CEO’s review 6 Digia’s service areas 7 Financial Statements 47 Markets and Digia’s market position 8 Main statements in the consolidated Review of the strategy period 2016–2019 9 financial statements (IFRS) 48 Strategy 2020–2022 10 General information 52 Financial development 56 Responsible Digia 12 Human resources 62 Ethical and transparent business 14 Working capital 64 Financial responsibility 16 Capital structure 64 Human resources 17 Other items 70 Customers 20 Formulas for the indicators and reconciliations 75 Parent company’s financial statements (FAS) 77 Corporate Governance 23 Signatures to Annual Report and Financial Statements 84 Digia Plc’s Corporate Governance Statement 24 Auditor’s Note 85 Digia’s Board of Directors 29 Auditor’s Report 87 Digia’s Management Team 31 Digia’s salary and remuneration system for management 34 Digia’s Annual Report 2019 Contents Digia’s direction 6 CEO’s review 7 Digia’s service areas 8 Markets and Digia’s market position 9 Review of the strategy period 2016–2019 10 Strategy 2020–2022 Responsible Corporate Report by the Financial Digia’s direction Digia Governance Board of Directors Statements We help our customers Net sales, EUR million succeed in the networked Liikevaihto, miljoonaa euroa 150 132132 120 and data-driven world 112112 96 86 9090 86 Digia is a software and service company that helps its customers 81 renew themselves in the networked world.
    [Show full text]
  • Execution Version
    Execution Version GUARANTEED SENIOR SECURED NOTES PROGRAMME issued by GOLDMAN SACHS INTERNATIONAL in respect of which the payment and delivery obligations are guaranteed by THE GOLDMAN SACHS GROUP, INC. (the “PROGRAMME”) PRICING SUPPLEMENT DATED 23rd SEPTEMBER 2020 SERIES 2020-12 SENIOR SECURED EXTENDIBLE FIXED RATE NOTES (the “SERIES”) ISIN: XS2233188510 Common Code: 223318851 This document constitutes the Pricing Supplement of the above Series of Secured Notes (the “Secured Notes”) and must be read in conjunction with the Base Listing Particulars dated 25 September 2019, as supplemented from time to time (the “Base Prospectus”), and in particular, the Base Terms and Conditions of the Secured Notes, as set out therein. Full information on the Issuer, The Goldman Sachs Group. Inc. (the “Guarantor”), and the terms and conditions of the Secured Notes, is only available on the basis of the combination of this Pricing Supplement and the Base Listing Particulars as so supplemented. The Base Listing Particulars has been published at www.ise.ie and is available for viewing during normal business hours at the registered office of the Issuer, and copies may be obtained from the specified office of the listing agent in Ireland. The Issuer accepts responsibility for the information contained in this Pricing Supplement. To the best of the knowledge and belief of the Issuer and the Guarantor the information contained in the Base Listing Particulars, as completed by this Pricing Supplement in relation to the Series of Secured Notes referred to above, is true and accurate in all material respects and, in the context of the issue of this Series, there are no other material facts the omission of which would make any statement in such information misleading.
    [Show full text]
  • Omx Helsinki 25 Exchange Traded Fund (Etf)
    The Power of Simplicity! OMX HELSINKI 25 EXCHANGE TRADED FUND (ETF) Seligson & Co OMXH25 ETF is a publicly traded fund Key data 01/07/2009 – 30/06/2010 which tracks the return of the OMX Helsinki 25 Stock Name: Seligson & Co OMX Helsinki 25 Exchange Traded Fund Index, ie. its assets are invested according to the index. ISIN: FI0008805627 The ETF provides an easy and cost-effective way to Fund inception date: 8 February 2002 invest in a well-distributed stock portfolio, which follows the share price development of the most traded shares Type: Finnish UCITS Stock Fund in the Helsinki Stock Exchange. Ticker: SLG OMXH25 ETF units are traded in the same way as shares. The Bloomberg code: H25ETF FH investor uses a broker to buy or sell units, and pays the Reuters code: SLGOMXH25.HE broker brokerage fees. Currency: EUR For trading large amounts of units (> 25,000 units) the investor may also use a primary broker (see Index tracked: OMX Helsinki 25 Stock Index www.seligson.fi/omxh25/English/etf/merkintavalittaja.htm). Total assets (31/08/2010): 156 M€ Management and account fees (31/08/2010): 0.1664% p.a Top 10 holdings (as of August 31, 2010) Management and account fees are determined based on the ETF’s total assets: Yritys Osuus% • 0 - 50 M€: 0.18% p.a. • 50 - 200 M€: 0.16% p.a SAMPO OYJ-A SHS 10,´25 • 200 - 500 M€: 0.14% p.a FORTUM OYJ 10,24 • Yli 500 M€: 0.11% p.a. NOKIA OYJ 9,65 Total Expense Ratio: 0.17% KONE OYJ-B 8,91 Annual trading costs: 0.05% UPM-KYMMENE OYJ 7,23 Total cost ratio: 0.21% TELIASONERA AB 6,38 Tracking error: 0.20% METSO
    [Show full text]
  • Planting for Our Future
    “planting for our future... ...for profit” Stora Enso financial performance2009 financial Enso Stora Stora Enso is a global paper, packaging and wood products “planting for our future... “planting for our future... company producing newsprint and book paper, magazine paper, fine paper, consumer board, industrial packaging and wood products. The Group has some 27 000 employees and 88 production facilities in more than 35 countries worldwide, and is a publicly traded company listed in Helsinki and Stockholm. Our customers include publishers, printing houses and paper merchants, as well as the packaging, joinery and construction industries. Our annual production capacity is 12.7 million tonnes of paper and board, 1.5 billion square metres of corrugated packaging and 6.9 million cubic metres of sawn wood products, including Stora Enso 2009 sustainability performance 2009 3.1 million cubic metres of value-added products. Our sales in 2009 were EUR 8.9 billion, with an operating profit excluding Stora Enso 2009 non-recurring items and fair valuations of EUR 320.5 million. Focuses on Stora Enso and its financial performance, and provides an overview of developments relating to the company’s business areas and increased presence in Stora Enso’s company mission is to use and develop its expertise the new growth markets of Brazil, Uruguay and China. in renewable materials to meet the needs of its customers and many of today’s global raw material challenges. Our products Sustainability Performance 2009 provide a climate-friendly alternative to many products made Describes Stora Enso’s sustainability activities as they relate to its mills, stakeholders, from competing non-renewable materials, and have a smaller wood and fibre sourcing, environmental practices, climate action, social responsibility carbon footprint.
    [Show full text]
  • Corporation Info
    Digia Plc Press Release 4 December 2017 Digia improves position as enabler of customers’ digital business and buys Integration House Oy The owners of Digia Plc and Integration House Oy signed an agreement on 4 December 2017, through which Digia Plc will acquire Integration House Oy's entire share capital. With this acquisition, and in accordance with its strategy, Digia will strengthen its position as a broad-based IT services company, whose world-class expertise in integration and API solutions enables interoperability in an increasingly digital world. Digia Plc is acquiring Integration House Oy, which specialises in modern integration solutions. Integration House Oy had estimated net sales of approximately EUR 1.8 million in 2017. The company has grown rapidly and currently employs 21 people in Turku, Helsinki and Tampere. "Business needs to respond to changes at a faster and faster pace. Businesses are networking; the availability of real-time data and the management and development of changing partner and customer needs lie at the heart of enterprise. This is enabled by integration, where APIs are the keyword. Through the acquisition, Digia will strengthen its position as a leading player in integration and as a builder of Finland’s API economy. Clever integration is the ‘engine oil’ of the digital economy. I wish all of Integration House’s experts a warm welcome to the Digia team – we are doing the coolest stuff in Finland," says Timo Levoranta, President and CEO of Digia. "Integration House has strong expertise, particularly in Dell Boomi technology, which is growing its market share, and certain, open source-code integration technologies.
    [Show full text]
  • Market Coverage Spans All North American Exchanges As Well As Major International Exchanges, and We Are Continually Adding to Our Coverage
    QuoteMedia Data Coverage 1 03 Equities 04 International Equities 05 Options 05 Futures and Commodities 06-07 Market Indices 08 Mutual Funds, ETFs and UITs 09 FOREX / Currencies 10 Rates Data 11 Historical Data 12 Charting Analytics 13 News Sources 14 News Categories 15 Filings 16-17 Company Financials Data 18 Analyst Coverage and Earnings Estimates 18 Insider Data 19 Corporate Actions and Earnings 19 Market Movers 20 Company Profile, Share Information and Key Ratios 21 Initial Public Offerings (IPOs) 22 Contact Information 2 Equities QuoteMedia’s market coverage spans all North American exchanges as well as major international exchanges, and we are continually adding to our coverage. The following is a short list of available exchanges. North American New York Stock Exchange (NYSE) Canadian Consolidated Quotes (CCQ) • Level 1 • TSX Consolidated Level 1 • TSXV Consolidated Level 1 NYSE American (AMEX) Toronto Stock Exchange (TSX) Level 1 • Level 1 • Market by Price • Market By Order Nasdaq • Market By Broker • Level 1 • Level 2 Canadian Venture Exchange (TSXV) • Total View with Open View • Level 1 • Market by Price Nasdaq Basic+ • Market By Order • Level 1 • Market By Broker OTC Bulletin Board (OTCBB) Canadian Securities Exchange (CNSX) • Level 1 • Level 1 • Level 2 • Level 2 OTC Markets (Pinks) Canadian Alternative Trading Systems • Level 1 • Alpha Level 1 and Level 2 • Level 2 • CSE PURE Level 1 and Level 2 Cboe One • Nasdaq Canada Level 1 and Level 2 • Nasdaq CX2 Level 1 and Level 2 Cboe EDGX • Omega Canada Level 1 and Level 2 • LYNX Level 1 and Level 2 London Stock Exchange (LSE) • NEO and LIT • Level 1 • Instinet Canada (dark pool) • Level 2 • LiquidNet Canada (dark pool) • TriAct MatchNow (dark pool) 3 Equities Cont.
    [Show full text]
  • COMPARISON ANALYSIS BETWEEN ACTIVELY MANAGED FUNDS and EXCHANGE TRADED FUNDS Bachelor’S Thesis
    TALLINN UNIVERSITY OF TECHNOLOGY School of Business and Governance Department of Economics and Finance Petteri Kotro COMPARISON ANALYSIS BETWEEN ACTIVELY MANAGED FUNDS AND EXCHANGE TRADED FUNDS Bachelor’s thesis Supervisor: Associate Professor Tatjana Põlajeva Tallinn 2017 I declare I have written the bachelor’s thesis independently. All works and major viewpoints of the other authors, data from other sources of literature and elsewhere used for writing this paper have been referenced. Petteri Kotro (Signature, Date) Student’s code: 130326 Student’s Email address: [email protected] Supervisor Associate Professor Tatjana Põlajeva The Thesis conforms to the requirements set for the bachelor’s theses (Signature, Date) Chairman of defense committee: Permitted to defence (Title, Name, Signature, Date) TABLE OF CONTENTS ABSTRACT ................................................................................................................... 4 INTRODUCTION .......................................................................................................... 5 1. MUTUAL FUNDS ................................................................................................. 8 1.1 History .................................................................................................................. 8 1.2 Structure ................................................................................................................ 9 1.3 Risks ..................................................................................................................
    [Show full text]
  • ETF Fact Sheet English
    The Power of Simplicity! OMX HELSINKI 25 EXCHANGE TRADED FUND (ETF) December 2011 Seligson & Co OMXH25 ETF is a publicly traded fund which Key data (1 January 2011—30 December 2011) tracks the return of the OMX Helsinki 25 Stock Index, ie. its assets are invested according to the index. Name: Seligson & Co OMX Helsinki 25 Exchange Traded Fund The ETF provides an easy and cost-effective way to invest in a well-distributed stock portfolio, which follows the share price ISIN: FI0008805627 development of the most traded shares in the Helsinki Stock Fund inception date: 8 February 2002 Exchange. ETF units are traded in the same way as shares. The Type: Finnish UCITS Stock Fund investor uses a broker to buy or sell units, and pays the broker brokerage fees. Ticker: SLG OMXH25 Bloomberg code: H25ETF FH For trading large amounts of units (> 25,000 units) the investor Reuters code: SLGOMXH25.HE may also use a primary broker (see www.seligson.fi/omxh25/English/ etf/merkintavalittaja.htm ). Currency: EUR Index tracked: OMX Helsinki 25 Stock Index Total assets (30 Dec 2011): 150,6 M€ Management and account fees are determined based on the Fund performance ETF’s total assets: 40 • 0 - 50 M€: 0.18% p.a. • 50 - 200 M€: 0.16% p.a • 200 - 500 M€: 0.14% p.a 35 • Over 500 M€: 0.11% p.a. Total Expense Ratio: 0.16% 30 Annual trading costs: 0.02% Total cost ratio: 0.18% 25 Tracking error: 0.22% Date of latest dividend: 27 May 2011 20 Latest dividend: 1.03 € / unit Website: www.seligson.fi/omxh25/English/index.htm 15 Portfolio managers: Jani Holmberg and Inari
    [Show full text]