The mandate calls for a long-only, active management investment style.Asset managers should have a minimum of CHF1.5bn invested in private placements and a total AUM of CHF20bn to qualify.They should also be highly transparent and have a proven track record to private placement management.Managers should also have a strong standing in private placement markets and a comprehensive risk management process.Closing date applications is 4 December, with performance data supplied, gross of fees, until the end of September.In other news, the Newham Local Government Pension Scheme has begun the search for a real estate property adviser to manage its £87m (€108.5m) real estate portfolio.The pension fund requires the adviser to review its portfolio and increase or decrease exposure as directed.The adviser should also consult the scheme on operational matters, and monitor the scheme’s portfolio.It should also be able to advise on additional allocations to its UK real estate assets and establish investment opportunities.The contract would run for three years.Managers should provide details on staff numbers over the last three years alongside details of educational and technical capabilities at the company. Publica, the Swiss federal pension fund, has tendered a CHF150m (€125m), corporate credit private placement mandate using IPE-Quest.Under search QN1471, the CHF36bn pension fund said it was looking for senior secured private placements of investment-grade rating.Placements should be made exclusively in OECD countries, the fund said, and ideally provided on a segregated account basis.Publica said the mandate formed part of its change in investment strategy that included a shift towards private placements and private infrastructure debt.
Dutch civil service scheme ABP has announced that it will divest its entire holdings in tobacco and nuclear weapons – worth an estimated €3.3bn – as part of a new assessment framework for sustainable and responsible investment.The divestment will affect its stakes in manufacturers, associates and producers elsewhere in the production chains for such products, it said.According to the €405bn pension fund, it reached the decision after extensive consultations at board level, based on the views of its participants, affiliated employers and various special interest organisations.Last summer ABP came under pressure from a group of university medical centres to exit from tobacco-related investments. In 2015 the scheme came under pressure concerning its exposure to nuclear weapons development. ABP made clear that it intended to sell its entire stake in tobacco and nuclear arms – estimated at €3.3bn – within a year.It said the assessment framework was to serve as a new instrument for its board to review its investments, and was meant to offer additional criteria for investment exclusion.The new rules provided for divestment if a product was by definition harmful to humans, and if ABP’s influence as a shareholder couldn’t change anything about this.The scheme would also divest if the absence of a product would have no harmful effect, as well in case of the existence of a worldwide treaty aimed at eliminating a product.In ABP’s opinion, these criteria would enable a uniform and consistent assessment of all products.It said that tobacco and nuclear arms had yielded “healthy returns” in the past, but believed that the outlook had changed and there were options for strong returns on other investments.“Therefore we expect that missed profits, if any at all, as a result of this decision, will be very limited,” the scheme said.Several other large Dutch funds – including PGB, PFZW, SPH, SPMS and PME – have cut tobacco from their investment universes in recent years.Renowned pension fund consultant Keith Ambachtsheer last year urged asset owners to consider removing tobacco from their portfolios, arguing that such assets were unethical and financially risky.This is despite both Norway’s sovereign wealth fund and the California Public Employees’ Retirement System reporting that divestment from the sector had meant they missed out on investment gains.
Data and technology company Hitachi Vantara has sealed a buy-in transaction for its UK defined benefit (DB) pension scheme with Legal & General (L&G).The deal involved an “innovative approach”, the insurer said in a statement, taking into account defined contribution (DC) elements of the scheme.Each member’s retirement benefit is based on the higher of their earnings-based DB pension or their accrued DC pension over their career with Hitachi Vantara. The buy-in was structured to maintain this arrangement, which L&G said would allow deferred members to “consider their options” prior to a full buyout.The latest transaction – which was completed in the first half of 2019, according to L&G – was the third de-risking deal between the scheme and the insurer. L&G previously insured tranches of pensioner payments in 2012 and 2013, while this year’s agreement covered the remaining 120 pensioners and deferred members. Katherine Gilder, a transaction specialist at Willis Towers Watson, which advised the scheme’s trustees, said: “By completing multiple tranches of buy-in over the last seven years, the trustee has taken advantage of pricing opportunities in the market while also managing its residual assets to achieve the growth required to meet its long-term objective.“Even with the innovative approach we developed to deal with the plan’s unusual non-pensioner benefits, the latest buy-in tranche was executed in short timescales highlighting the contractual efficiencies that can be achieved from multiple transactions with the same insurer.”Frankie Borrell, a director in L&G’s pension risk transfer business, added: “The dual benefit dynamic presented some interesting challenges for the transaction, but all parties showed great focus on delivering an outcome that had members’ interests at the heart.”The Hitachi Data Systems Retirement Benefits Plan had £49.3m (€53.3m) in DB assets as of 31 March 2018, according to Hitachi Vantara’s most recent accounts.
Cowes Harbor Commission has just announced that the Eastern Channel dredge works will begin in January 2019.The dredging will be carried out before the end of the MMO (Marine Management Organization) consented window that runs through to the end of March 2019, added the CHC.The dredging can only be done over the winter due to the presence of the eel grass beds off East Cowes.The new Eastern Channel will provide a minimum of 2.25m (below chart datum) channel, and a more direct route to the Solent than the current Small Craft Channel, allowing smaller vessels safe access to and egress from the harbor, minimizing potential conflict with the larger ferry and commercial traffic movements.The Board of Cowes Harbor Commissioners approved the upfront funding of the Eastern Channel dredge, recognizing that under the government’s ‘Guidance for Trust Ports’ the dredging works will be considered as a “stakeholder dividend project”.Prior to the works commencing a Cowes Harbor LNTM will be issued to inform all stakeholders of the dredging process, timeline and any exclusion zones that may be temporarily in force.
The enterprises to be registered with the economic zone authority may enjoy income tax holiday or the net operating loss carry over prior to the availment of the gross income earned. All fiscal incentives under the proposed law will be terminated after a cumulative period of 20 years from the date of registration, or the start of operation./PN The zone is seen to attract moreinvestors to Iloilo. ILOILO City – House Bill 5794 (An ActCreating the Metro Iloilo Special Economic Zone and Free Port or MILOECOZONE)passed the scrutiny of the House of Representatives’ Committee on Economic Affairs and Committee on Tradeand Industry yesterday. The proposed special economic zone andfree port encompasses the Iloilo International Port in Barangay Loboc, La Pazdistrict and available public and reclaimed lands in barangays Bitoon andBalabago in Jaro district and in barangays Hinactacan, San Isidro, Ingoreand Loboc in La Paz district. The special economic zone and freeport will “bring positive change for the City of Iloilo and the entire WesternVisayas though jobs generation and investments,” she added. If realized, it will be the first inWestern Visayas and second in the Visayas and Mindanao, according to proponentCong. Julienne Baronda of this city. By creating more jobs, improvingsocial services, encouraging innovation and connecting the countryside togrowth centers, poverty will be reduced and development in rural areaswill be accelerated, Baronda explained. The Metro Iloilo Economic Zone andFreeport complements the Philippine Development Plan 2017-2022, she stressed. “We have been dependent on theagriculture and services sectors all this time. Now, we want to expand and wewant to diversify. We will welcome investors. We will offer them one of thebest investment climates the Philippines can offer. The centerpiece of all thatis the ecozone,” according to the first-termer congressowoman. Under the bill, a tax rate of five percent on gross income earned will be collected from the locators with no other local or national taxes to be imposed.
Greensburg, IN—Decatur County REMC will host their Annual meeting tonight on Facebook Live starting at 6:30 pm. Click here for a link to their page.
“Arsenal are doing well at the moment, but the season is a long one.” Chelsea appeared set to cruise to victory at Norwich when Oscar fired the visitors into a fourth-minute lead, but the hosts struck back and equalised through Anthony Pilkington. The Blues were under pressure and broke from a corner for Eden Hazard to score a late second, followed moments later by Willian’s first Chelsea goal, a sublime curling effort from the edge of the area. “To take the three points from this game was for us very important,” Ivanovic added. “You see we tried to do our best, we tried to do everything to take the three points from this game, and in the end it was very important.” Both Hazard and Willian, along with Samuel Eto’o, came off the bench in a display of Chelsea’s firepower. Ivanovic believes there is more to come from Willian and Eto’o, who have both started life at Stamford Bridge slowly following their moves from Anzhi Makhachkala. “Both guys add fantastic quality,” Ivanovic said. “Willian showed he can improve and he can impress all the guys more, and we expect from him a lot. His goal is very important for him for confidence and for motivation. “Eto’o is a guy who is still new in our team, in our squad, and we have tried to help him to settle as quickly as possible.” Ivanovic has been Mourinho’s first-choice right-back this term, but knows no-one at Chelsea is guaranteed a place. Ivanovic added: “With our manager you have to impress him every day. You have to show him every day especially the small details. All of us.” Press Association Branislav Ivanovic hopes Chelsea can kick on following the international break after a start to the season in which Jose Mourinho’s men have remained in contention despite leaving plenty of room for improvement. “When we’re back from the national team we have the very tight schedule of games,” Ivanovic said. “I think we have to work very hard to be top, and use all the squad for these kind of games that are coming up for us. “I think we are (heading) in the right way.” The run of matches includes a game with Arsenal, just two days after the clash with City. However, the Emirates Stadium fixture comes in the Capital One Cup and Mourinho has already suggested he will select an under-21 team due to the proximity of crucial Premier League and Champions League matches. Ivanovic believes the key to the Premier League title race will be to accumulate points when not playing well, as Chelsea did at Carrow Road in their 3-1 win. “This year is going to be a very tough, a very difficult league,” the Serbia defender added. “Every team will have a bad period and a good period. The important thing is in the bad period to take the points, and to stay (in contention). Chelsea enter the international hiatus in third place in the Barclays Premier League, two points behind leaders Arsenal, after claiming a first away win of the league season at Norwich. When club action resumes, Chelsea play seven games in 21 days, beginning with Cardiff, Schalke and Manchester City.
The Italian, who oversaw a summer overhaul of the squad under which 14 players were brought in under former manager Paolo Di Canio, is set to leave with two weeks of the current transfer window still to run. A club statement said: “Sunderland AFC has announced that the club has parted company with director of football Roberto De Fanti. “The club would like to place on record its thanks to Roberto and wishes him well for the future.” Sunderland’s director of football Roberto De Fanti is to leave the club after owner Ellis Short decided to dispense with his services. Press Association
Stoke may have a dire record from recent trips to Arsenal, but Mark Hughes insists the Emirates holds no fear for his side. Press Association Crystal Palace claimed three points at Chelsea’s Stamford Bridge, while West Ham have defeated Arsenal and Liverpool on the road, and Hughes believes the competitive nature of the division means clubs are no longer daunted by the prospect of visiting the bigger teams. “There’s a strength in the Premier League that gives confidence to everybody,” he said. “Maybe in the past teams would fear going to the Emirates or Old Trafford or Stamford Bridge. I know when I was a Man United player a lot of teams would turn up and you knew almost immediately they didn’t believe they could win games there. I don’t think that’s the case any more. “Most teams go with the intention of asking questions of the top teams and seeing how far it takes you. We’re very much in that group of teams that feel we can go anywhere and give good accounts of ourselves. “Sometimes we’ll be able to do it, other times the opposition will be good on the day. (But) our attitude to go to the top clubs is probably more confident than it has been in the past.” That has been bred by a series of impressive scalps Hughes has added to his Potters resume. He delivered long-awaited victories over Chelsea and Manchester United in his first season at the helm and Stoke claimed an away success at Manchester City last August before annihilating Liverpool 6-1 to close out the campaign. With the likes of former Bayern Munich midfielder Xherdan Shaqiri and ex-Barcelona forward Bojan Krkic now in tow too, Hughes is confident they are well placed to end their Emirates hoodoo. The Gunners have won each of their past 13 home encounters with the Potters, a sequence that dates back to 1981, and will hope they can this weekend accrue their first Barclays Premier League success at their north London abode this season. However, Hughes’ men have had Arsenal’s number on their own patch, losing just once to Arsene Wenger’s side in the Premier League era at the Britannia Stadium, and they will also take heart from away victories other teams have had in the top flight already. “We feel we’re better equipped with certain types of players that can maybe ask more questions of them,” he added. “Certainly on their own patch they’ve had an indifferent start, maybe it’s a good time to play them. “The key is you’ve got to give yourself a chance to win the game. When you go to the Emirates, they invariably start quickly, the demand’s on them to take onus of the game and you’ve got to be ready for that and make sure you don’t concede early. “If you stay in the game, at some point, they will give you chances because they do play quite open.”
Published on November 6, 2013 at 2:33 am Contact Josh: firstname.lastname@example.org In the 68th minute of Syracuse’s 1-0 loss to Maryland on Oct. 26, defender Oyvind Alseth sent a free kick on net that clanked off the right goal post and deflected aside.A few days later, SU head coach Ian McIntyre said he chastised Alseth, in jest, for not being able to control the shot enough to have it deflect in the opposite direction and into the goal.“If he can improve that by about two or three inches, that would help,” McIntyre joked.That is the kind of season it has been for Alseth, the freshman right back who has started all 17 games for the Orange (10-6-1, 3-6-1 Atlantic Coast) and is second on the team with four assists. His play has been so exceptional that the only thing McIntyre has to nitpick is the direction in which one of his free kicks ricocheted.“I think he’s already demonstrated that he’s one of the better right backs in our conference,” McIntyre said. “And that’s saying a lot.”AdvertisementThis is placeholder textWhile Syracuse freshmen Emil Ekblom, Alex Halis and Chris Nanco are the top three point scorers on the team and were each named to TopDrawerSoccer.com’s Men’s Freshmen Top 100 list, Alseth has quietly been one of the Orange’s most consistent players.“They’re getting a lot of credit, but they’re also scoring goals to help us win games,” Alseth said. “I’m not a guy that strives to get the credit for winning games. Of course it’s hard to win games from the defense. You can play a good game with nobody even noticing.”As a freshman, Alseth is the youngest defender on an otherwise all-junior back line. Regardless, the Norwegian has been a major component of a defense that has paved the way for goalkeeper Alex Bono to share the ACC’s lead in shutouts.Alseth has also started a few games in the midfield. In the 105th minute of SU’s game against Binghamton on Oct. 1, Alseth capped a spectacular performance with a 30-yard strike that set up Halis’ game-winning goal.After the team’s 2-1 overtime win that night, midfielder Nick Perea called Alseth one of the best players on the entire team.“He’s a quality soccer player,” McIntyre said. “He’s a specialist right back, but he also played in the midfield when he was younger. He’s a good soccer player and when asked, he did very well in there.”Three days later against North Carolina State, Alseth slotted a through pass into the box for Ekblom, who beat the goalkeeper for his third goal of the night.Against Albany on Oct. 22, Alseth sent a corner kick into the box that was directed off the head of Juuso Pasanen into the far right corner of the net. The goal gave the Orange a 1-0 advantage after not being able to capitalize on eight shots and seven corner kicks in the first half.“He’s great with his feet, great technique and he sees the field really well,” junior defender Chris Makowski said. “I expect a lot of things from him because of the level he’s played at.”Alseth said the major difference between Norwegian and American soccer is playing two games every week. But with the help of junior defenders, especially Jordan Murrell, he has gotten used to American collegiate soccer.Not only has Alseth seamlessly fit into the Syracuse lineup, but he has also become a mainstay and someone the team relies on to contribute strong defense on a nightly basis.Said Makowski: “If he keeps his fitness up and keeps doing things right, I think he’ll be a crucial part of our team (for the next few years).” Comments Facebook Twitter Google+