Niina Bergring, CIO, said: “We are very pleased with the result, considering the market situation.”Fixed income performance had lowered the overall result, she said, with the asset class ending with a return of just 1.5%.Property investments, which the company said were traditionally strong within its portfolio, returned 5.9%.Total contributions fell by 1.2% to €452.8m from €458.2m, while pensions and other benefits paid out rose 7.3% to €432m.Veritas blamed the fall in contributions partly on payroll developments, with pension client numbers declining, and partly on the fact more corporate clients had failed this year to make their scheduled contributions.Managing director Jan-Erik Stenman said he was not surprised by the slide in contributions.“We are now seeing the aftermath of the general economic situation,” he said.“In the course of 2013, the impact of globalisation hit our customers – small and medium-sized enterprises – which had hitherto perhaps fared better than large companies in the current economic situation.”Over the year, Veritas lost 1.8% of employees as clients, or 53,339 workers.Total investment assets rose to €2.4bn, up €170m from a year earlier.Solvency capital increased during the year to end at 27.8% of technical provisions from 24.1% a year before, Veritas said, adding that this meant solvency capital was 2.1 times the solvency limit. Finland’s Veritas produced a 7.4% return on investments in 2013, but saw contributions fall by 1.2% as globalisation effects hit small and medium-sized enterprises (SMEs) in the country.Reporting preliminary results for last year, Veritas said it was the positive trend in equity markets that boosted investment returns, particularly at the end of the year.The 2013 investment return was helped by listed equities, which generated the pension insurer’s highest returns at 18.3%.However, the overall return was down from last year, when investments ended the year with a profit of 11.3%.
Stephanie Argyros, a 1992 USC alumna and real estate professional, was recently elected to the USC Board of Trustees. Argyros is a board member of the Children’s Hospital of Orange County and the Orangewood Foundation in Orange County. (Photo from USC News)The Board of Trustees recently elected alumna and real estate professional Stephanie Argyros as its newest member. Argyros, who graduated from USC in 1992 with a bachelor’s degree in communication, is also a member of the USC President’s Leadership Council and the Keck School of Medicine of USC’s Board of Overseers. “My favorite thing about USC is its strong sense of family,” Argyros told USC News. “I’m so proud to be a Trojan and incredibly honored to join the USC Board of Trustees.”Along with her position as principal at Arnel, a Costa Mesa-based real estate firm that oversees several properties, Argyros serves as a director of the Argyros Family Foundation. The foundation helped fund USC’s renovation of the Los Angeles Memorial Coliseum’s peristyle and surrounding plaza with a $7.5 million gift in January 2018, according to USC News.As a board member for the Children’s Hospital of Orange County and the Orangewood Foundation, which helps current and former foster children in Orange County, Argyros also an advocate of children’s health, well-being and education initiatives. “I’m looking forward to getting involved and giving back to the Trojan Family, especially through its support and mentorship programs for youth,” Argyros said to USC News. Argyros has also volunteered with Operation Smile, a nonprofit that provides free dental and facial surgeries to children in developing countries, and is a co-chair for WE Day California, an education initiative that encourages young people to be involved in public service and volunteerism.Interim President Wanda Austin told USC News that she believes Argyros’ public service background will make her a good addition to the Board. “Not only is Stephanie Argyros a highly regarded leader in her profession and a great Trojan, she is a dedicated community volunteer,” Austin told USC News. “Her commitment to ensuring children are healthy, happy and empowered to realize their dreams shines through in all her work … We very much look forward to her insight and contributions.”
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