LGPS consortium awards £6.5bn mandate to Legal & General IM

first_imgA consortium of local authority funds has awarded Legal & General Investment Management (LGIM) £6.5bn (€9.2bn) worth of passive mandates, a doubling of mandates previously run for the funds by one of the UK’s largest managers.The seven local government pension schemes (LGPS) – Cheshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, Warwickshire and Worcestershire – were, in September, reported to be jointly tendering for passive equity managers to reduce costs.As a result of the exercise, the Shires managed to reduce management fees by more than 50%, asking LGIM to run a series of passive equity, passive fixed income and smart beta strategies.UBS Asset Management, State Street Global Advisors (SSGA) and BlackRock have lost mandates as a result of LGIM’s appointment. SSGA, for example, was responsible for a global index-tracking strategy worth 31% of the Warwickshire Pension Fund’s £1.6bn in assets.  The fund also employed BlackRock for a passive multi-asset mandate.UBS, meanwhile, ran a passive equity strategy for the Worcestershire County Pension Fund.As a result of the mandate, LGIM has doubled the volume of assets run on behalf of the seven local authority funds.All members of the consortium, with the exception of the £2bn Worcestershire Pension Fund, were already invested in funds run by LGIM.Existing mandates were worth more than £3.9bn, largely stemming from £1.2bn in mandates from the £4.1bn Cheshire Pension Fund and a further £1bn from the Leicestershire County Pension Fund.Bfinance, which conducted the tender on behalf of the consortium, said the exercise was completed in five months, after initial exploratory work by Staffordshire, Cheshire and Shropshire.A spokesman for the consortium, which has £19.6bn in assets, praised the work done by bfinance and said he was pleased with the quality of LGIM’s funds and its experience in managing passive strategies.He added: “Joining forces with other pension funds has enabled us to unlock significant savings and gives clear and tangible evidence of what can be achieved if LGPS funds are willing to work together and collaborate as equals.”Pai Sarai, managing director and head of client consulting at bfinance, said the award to LGIM’s pooled funds was an excellent outcome after an “extensive and rigorous” tender process.“Given this success,” he added, “we expect significant interest from other local government pension schemes in similar arrangements to achieve more cost-effective investment strategies.”It is the second sizeable mandate award by local authority funds in recent weeks, following from the £6bn in sub-funds launched by the collective investment vehicle set up by London’s local authorities.last_img read more

Syracuse women’s basketball opponent preview: What to know about Washington

first_img Facebook Twitter Google+ Related Stories Chantel Osahor’s jumpless shot is a ‘God-given talent’Syracuse tries to replicate game plan for lethal Washington scorer Kelsey PlumGallery: Sights from the women’s basketball Final Four in IndianapolisAlexus Atchley’s unlikely road from walk-on to Washington Final Four starterFind out what Syracuse players put on their goal cards before the season No. 4 seed Syracuse (29-7, 13-3 Atlantic Coast) takes on No. 7 seed Washington (26-10, 11-7 Pac-12) in both teams’ first-ever Final Four on Sunday at 8:30 p.m. at Bankers Life Fieldhouse in Indianapolis. The Orange had never advanced past the Round of 32 before this year and is amid its best season in program history. SU has won 15 of its last 16 games, its only loss coming in the ACC championship game against then-No. 2 ranked Notre Dame.Here’s everything you need to know about Syracuse’s Final Four matchup with the Huskies.All-time series history: Syracuse leads 1-0Last time they played: The Orange got its only win ever against UW, 66-62, earlier this season on Nov. 27, 2015, in Las Vegas. SU led by as many as 21 late in the second quarter, but Washington clawed nearly all the way back. Led by 22 points (11 in fourth quarter) from Talia Walton, 19 from Kelsey Plum and 10 from Chantel Osahor, the Huskies made it close down the stretch.Syracuse went just 7-of-33 from behind the arc and was outrebounded 48-46. However, the Orange did force 19 turnovers compared to committing just eight, which led to SU outscoring the Huskies 13-4 on points off turnovers. With 3:47 left to play, Washington trailed by just one. But six free throws down the stretch helped seal the Syracuse victory.AdvertisementThis is placeholder text“Kelsey Plum did well, (Walton) did an excellent job making shots, getting rebounds and (Osahor), she’s been having a good season so far and in the tournament,” Syracuse’s Cornelia Fondren said Thursday, “so we just want to come out and compete hard like we’ve been doing all year.” The Washington report: Plum averages 26.2 points per game, which ranks third in the country. And throughout the postseason, the Huskies have also received contributions from Walton and Osahor, who average 16.2 and 10.3 points per game, respectively. It’s that three-pronged attack that has made UW dangerous in the postseason as it has knocked off Maryland, Kentucky and Stanford in its last three games.Washington averages 12.6 turnovers per game while Syracuse forces opponents to commit a nation-leading 24.2 turnovers per game. The last time they played, the Huskies committed 19 turnovers.“(Plum) is a great shooter. She’s a lefty that can get to the basket,” Fondren said. “She can shoot it pretty well, she can shoot the ball off the bounce, she’s been having a pretty good season so far.”Numbers to know:12.6 — Washington averages 12.6 turnovers per game while forcing 13.9 from its opponents.10 — In the fourth quarter of the game between Washington and Syracuse earlier this season, the Huskies outscored the Orange 24-14. Though UW didn’t pull off the comeback, it gave SU a scare down the stretch.0 — In the Nov. 27 matchup between these two teams, Syracuse shot 0-for-10 from behind the arc in the second half. The Orange has relied on the 3-pointer all season and may not be able to survive with a repeat performance like that in a half on Sunday.Player to watch: Chantel OsahorWhile all eyes will be on Plum as Washington’s go-to scorer, Osahor has flashed strong potential, especially recently. In UW’s Elite Eight win over Stanford, Osahor scored 24 points. In the Sweet 16, she scored 19. In the Round of 32, she scored 20. Plum will garner the attention, but the 6-foot-2 Osahor has a stronger potential to get in the cracks of Syracuse’s 2-3 zone and exploit the high post. If she gives Washington a legitimate second threat to pair with Plum, the Orange will be in for a tough fight. Comments Published on April 1, 2016 at 2:20 am Contact Paul: [email protected] | @pschwedslast_img read more

Dzeko, Totti and Salah in a noble Mission on the Refugee Crisis (video)

first_imgThe captain of the BH national football team Edin Dzeko is one of three players who participated in the video by Roma, which calls for help to the refugees in Europe.As stated by the Roman team, the aim is to educate the fans on the seriousness of the global refugee crisis.The video was made in cooperation with the initiative “Football Cares” which aims to unite the football society and raise money for humanitarian organizations that work with the refugees.All the money donated on the address of this initiative will be forwarded to the organizations such as Save the Children, International Rescue Committee (IRC), United Nations Refugee Agency (UNRA), and the Red Cross.Until now, the initiative “Football Cares” raised over $600.000, but they have invited all the fans, clubs and players to actively engage and through their donations help the refugees on the field.(Source: klix.ba/ photo ST)last_img read more

Captain America: Civil War playing at Wellington Regent this weekend

first_imgRotten Tomatoes rating (movie critics collective approval ratings): 90%. Audience review: 92% liked it. Critic’s consensus: Captain America: Civil War begins the next wave of Marvel movies with an action-packed superhero blockbuster boasting a decidedly non-cartoonish plot and the courage to explore thought-provoking themes.Follow us on Twitter. This week at the Regent Theater: Captain America: Civil War (see trailer below).Schedule: Friday, 7 p.m. Saturday and Sunday, 2 and 7 p.m.Rated: PG-13 (for extended sequences of violence, action and mayhem). Time: 2 hour 26 minutes.Movie Synopsis: Marvel’s “Captain America: Civil War” finds Steve Rogers leading the newly formed team of Avengers in their continued efforts to safeguard humanity. But after another incident involving the Avengers results in collateral damage, political pressure mounts to install a system of accountability, headed by a governing body to oversee and direct the team. The new status quo fractures the Avengers, resulting in two camps-one led by Steve Rogers and his desire for the Avengers to remain free to defend humanity without govern. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more

Kabale Sharp target top spot as FUFA Big League continues

first_imgKabale Sharp will go top of the Rwenzori Group with a win on Thursday (file photo)FUFA Big League 2018/19Thursday, 06-12-2018Rwenzori Group:-Plascon vs Kabale Sharpe-Kiboga Young vs Kitara FC-Bumate United vs Ntinda United Elgon Group:-Entebbe FC vs Amuka Bright Stars-Dove All Stars vs JMC Hippos-Kataka FC vs Light SS-UPDF FC vs Bukedea Town CouncilThe FUFA Big League resumes on Thursday afternoon with seven games played across the country.In the Rwenzori Group, 6th placed Kansai Plascon host Kabale Sharp at the Bishop SS Grounds in Mukono.Kabale who currently sit in second spot, only a point behind leaders Proline know that a victory on Thursday will see them take over as Group leaders. The Western based side are one of the three sides still unbeaten in the Rwenzori Group and it will take some performance by Kansai Plascon to topple them.The other two Rwenzori Group fixtures pit unbeaten Kiboga Young at home to Kitara FC while Ntinda travels to Bundibugyo to take on Bumate.In the Elgon Group, leaders Light SS while hope to continue their fine start to the season when they travel to Mbale to take on Kataka FC.Light SS who are in their debut season have been more than impressive since the league started, winning three of their first 5 games and consequently sit top of the pile.For their opponents Kataka, they have been draw specialists so far, drawing four of their six games so far and will start the day in 5th.For Bukedea who currently occupy bottom spot in the Rwenzori Group, they will have it all to do when they take on UPDF at Bombo.Bukedea have been the worst side in the Rwenzori group so far, losing three of their first four games whilst drawing the other.In the other two fixtures, Dove All Stars host JMC Hippos while Amuka Bright Stars are away to Entebbe FC.Comments Tags: FUFA Big League 2018/19last_img read more