LTTE fronts still in Germany

Prof. Peiris briefed his German counterpart in detail about the LLRC implementation process and said that the country is entitled to the space and time to move forward with a homegrown programme. The Government says LTTE front organizations are still operating in Germany under the guise of community organizations, the External Affairs Ministry said today.External Affairs Minister Professor G.L. Peiris, during his bilateral discussions in Berlin with Dr. Guido Westerwelle, Minister of Foreign Affairs of the Federal Republic of Germany, said that according to information available to Sri Lankan authorities, there are a substantial number of schools operated in Germany by these groups for propaganda and fund raising purposes. He urged the German authorities to keep a close watch on their activities in breach of the EU proscription. It is quite evident, he asserted, that voting patterns are determined by political, strategic and economic interests of countries in terms of their relationship with the mover of the Resolution, rather than a dispassionate consideration of issues relating to the country situation in question.This is contrary, he said, to the intention of the General Assembly of the United Nations when it resolved to replace the Human Rights commission with the Human Rights Council, on the basis that the former was unduly politicized and, therefore, deficient in assessing situations on their merits. Sri Lanka, he said, is happy to work with the international community on the footing of equality and partnership, but opposed judgmental and highly selective postures. (Colombo Gazette) Meanwhile in his address at a largely attended meeting of the German Association for Foreign Policy (GDAP) in Berlin, Prof. Peiris raised several issues regarding recent trends in the Human Rights Council in relation to Sri Lanka. He stressed the importance of an objective approach, and questioned whether this basic requirement is fulfilled in recent interventions. He said that the Resolution in respect of Sri Lanka received hardly any support when it was brought by one country and, in fact, could not be proceeded with, but that the situation changed dramatically when the Resolution was moved by another country. read more

Canada Pension Plans money managers are worth more than they cost PBO

OTTAWA — Having the money in the Canada Pension Plan fund actively managed by investment experts has been worth nearly $50 billion in extra returns since the mid-2000s, says the parliamentary budget officer.In a report Monday, the PBO compared the growth in the $392-billion public pension fund to what the same money would have made in “passive” investments that just tracked a pair of index funds, and finds the active-management strategy has come out ahead.Passive investments have almost no expenses because there’s very little buying, selling or research involved in managing them. Some personal-finance experts say passive investments are good for most people’s retirement savings because professional money managers don’t add enough extra value to make up for what they cost in higher fees. ‘It spills over’: Investors to face trade war headwinds, CPPIB’s Machin warns How CPPIB is tapping ‘alternative data’ to refine its investment processes Expect lower investment returns around the world, says CPPIB chief The Canada Pension Plan Investment Board switched to active management in 2006.“Given that active management requires more personnel to conduct the required research, and also involves more transactions, this strategy comes with increased complexity and additional costs,” the PBO report says. “The goal is that in the long run, after netting these costs, the strategy will achieve a higher return than an identified benchmark.”So far, so good, the analysis found: In each of the 12 full years the investment board has been using the active-management approach, including in the recession at the end of the 2000s, it’s brought better returns than passive investing.Even when all the extra costs of active management of the Canada Pension Plan fund are accounted for, its experts’ wheelings and dealings are worth an extra 1.2 per cent in investment returns in an average year. That’s added up to $48.4 billion in extra investment profits.A similar analysis of the pension fund for federal workers found that its managers weren’t as successful, but still performed slightly better than passive investments would have over the last decade or so.The PBO found their work has been worth an extra 0.3 per cent in returns each year, after the costs of active management were taken into account, which means $1.7 billion more in the $153-billion fund. read more