Separately on IPE-Quest, an unnamed Continental European pension fund is searching for managers for a €450m-900m global emerging markets government debt mandate.Managers should employ a broadly diversified style and a passive process.The benchmark for the portfolio is to be the JP Morgan GBI-EM Global Diversified (JGENVUEG) local currency, unhedged, according to the IPE-Quest entry.The mandate will be passive, with the goal of replicating the main characteristics of the benchmark, the search specified.Managers should not use leverage, and can use bonds with maturity of less than 13 months.The deadline for responses is 17 December.In other mandate news, the City of Zurich Pension Fund and adviser group Tages Capital have awarded mandates to fund administrator Citco.The Zurich pension fund has contracted Citco to provide administration, custody and related financial services to its $1.3bn (€1bn) hedge fund portfolios.Tages Capital has awarded Citco an administration and custody mandate for two of its hedge fund portfolios.Richard Silver, CFO at Tages, said the company – which allocated assets to alternative investment funds on behalf of institutional clients – picked Citco because of its “strong infrastructure, technological excellence and client-driven solutions”.Citco said it had recently decided to get out of the sub-custody business for financial institutions because of the commoditisation of the business and the lack of ancillary services attached to it.William Keunen, global director at Citco Fund Services, said: “We intend to now focus fully on servicing our institutional investor clients with our integrated solution.”Meanwhile, the HSBC Bank (UK) pension scheme has chosen Fulcrum Asset Management to manage what Fulcrum described as a “significant” alternative beta mandate.Neither party would disclose the actual size of the mandate.The asset manager said it would manage the mandate under its multi-asset volatility strategy, aimed at producing absolute returns from volatility exposures across a range of asset types.It said it was chosen by the £20bn (€25bn) pension scheme because of its multi-asset approach, absolute return focus and low correlation to traditional asset classes.The pension fund said it was allocating to the new mandate from its cash reserves, so the move did not signify any change in strategy or asset manager. Mark Thompson, CIO at the HSBC Pensions Trust, said the multi-asset volatility strategy was an interesting and innovative addition to the return-seeking element of the portfolio that also brought big diversification benefits.Andrew Stevens, Fulcrum’s chief executive, said: “This appointment reflects the continued interest in our alternative beta offering from institutional investors looking to diversify their portfolios and access new sources of returns.” A Swiss institutional investor is looking for asset managers to run a $50m (€40m) portfolio of long-only global equities, according to a request for information (RFI) on manager search service IPE-Quest.The closing date for responses is 10 December.Managers should invest opportunistically, using an active process, and have at least $500m under management in this asset type, according to the RFI.The investor prefers asset managers with a track record of at least seven years, but added that this was a soft limit.
“Our code highlights how trustees need a strong understanding of a scheme’s covenant in order to take an integrated approach to risk management, and use the full flexibility of the funding regime,” she said.Though formal covenant assessments are to be performed at least every three years at the time of the funding valuation, the guidance is flexible in telling trustees how often they ought to monitor the employer covenant in between these assessmements.It states that the strength of the employer covenant can change materially over a short period of time, and that this could have big implications for the scheme’s investment and funding strategy.“Trustees should therefore monitor the covenant regularly between formal assessments alongside key investment and funding risks,” the guide said.“The frequency and depth of monitoring should be proportionate to the circumstances of the scheme and employer,” it says.The regulator said one of the code’s main principles was the need for an integrated approach to risk management. “Understanding the strength of the employer covenant underpins effective risk management,” it said.The National Association of Pension Funds (NAPF) applauded the practical approach of the guide.Helen Forrest, policy lead for defined benefit at the association, said: “We welcome the pragmatic nature of the document and the thoughtful and extensive approach TPR has taken to engaging with industry in its development.”Simon Kew, on the pensions advisory team at Deloitte, said the guidance reinforced the principle that assessing covenant, including an appreciation of wider market dynamics, was not a ‘one-off’ process. “Monitoring should be in force, along with appropriate triggers, to ensure that trustees can react nimbly and appropriately to changes in covenant,” he said.Darren Redmayne, head of covenant advisers Lincoln Pensions, said: “We’re particularly glad that approaches that just focus on enterprise value comparisons or credit ratings have been cited by the regulator as over-simplifying the analysis and should not be seen as a substitute for a proper review.” The Pensions Regulator (TPR) in the UK has put out new guidance for trustees of defined benefit (DB) schemes on how to assess and monitor the covenant from the company sponsoring the scheme, giving trustees flexibility in how often they examine the promise.The guide is the first in a series that the regulator says it will publish to help trustees apply the DB code of practice, which it issued last year.Lesley Titcomb, chief executive of TPR, said: “I urge trustees to use this important guide to assess and monitor their employer covenant in a way that is proportionate to the circumstances of the scheme and the need for an employer to grow.”Trustees and employers should work openly and collaboratively together, she said.
The Greenrigg Court home at Indooroopilly in Brisbane sold on Saturday.With “nothing left to do” on the home, 6 Greenrigg Court, Indooroopilly, attracted four pre-auction bids in the mid-$800s as potential buyers tried to take it off the market. Seven bidders registered for Saturday’s auction with the property selling for $910,000, after over 70 parties went through the home in a three-week period, said agent Tyler Bean of Plum Property Toowong. The auction – which was held on the street in the quiet cul-de-sac where homes are tightly held for over a decade by families keen on the school catchments in the area – was over in just 15 minutes.“Bidding started at $600,000 and I asked for $650,000, then it jumped $100,000 to $750,000 and in the end $910,000 was what it sold for. It was mostly young families wanting the Indooroopilly catchment.” Seven bidders registered for the auction.“Since COVID-19, this is best one we’ve had in terms of value and the amount of bidders. It was so quick, 15 minutes and done.”The owners, who would not be named, said they began renovating to stay a year ago but were able to accelerate the work during this year’s Queensland COVID-19 lockdown.“Renovations started slowly and then picked up pace during the quarantine. It was a great time to do the garden, and it was awesome to see it come together really quickly. It’s been a good six months.” Agent Tyler Bean said it was the fact that the home was in a good school catchment and move in ready that caught buyers’ eyes.“I think we did just the right work on it. We didn’t do anything unnecessary. It is a beautiful home. We’ve been here for a long time. Any time you can get a nice house in a quiet street in a good school zone, it’s a great place to live. We’ve loved being here and are sad a little bit to move on. We were here for about 12 years. Everyone in the street has also been here a really long time.”“We were married here, first baby, it’s a very important house. But it was very exciting. We’re very happy with the result today.” Firepit at the end of the garden.The owners made the decision to sell during the lockdown period after deciding they were missing family.“We were originally renovating to stay and then got to a point where during the quarantine we thought where do we want to be? We wanted to be close to our family so we’ve purchased a place on the Sunshine Coast. We’re very happy.”The four bedroom, two bathroom, single carpark house sits on 699sq m in what was described as “a quiet, family-friendly street”.More from newsParks and wildlife the new lust-haves post coronavirus8 hours agoNoosa’s best beachfront penthouse is about to hit the market8 hours ago The raked ceilings were a hit.The home was also in the Indooroopilly state and high school catchments, and a short drive to Saint Peters and Brisbane Boys College.“The spacious interior is big enough for families of all sizes with good separation of living areas plus massive bedrooms,” was how it was marketed on realestate.com.au where it was the most viewed property of those going to auction in Queensland this weekend. A veranda off the kitchen.“The updated kitchen has plenty of storage and is complete with stainless steel appliances and stone benches.”Space was key with large living and dining areas and raked ceilings, bigger than normal bedrooms, a “massive master suite, and an extra guest room downstairs that could become a rumpus room or office if necessary. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:56Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:56 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenCOVID-19: Spring property predictions 202002:57 MORE: Top 10 QLD suburbs searched as safe havens 6 Greenrigg Court, Indooroopilly, sold on Saturday for $910,000 under the hammer.A family that renovated their brick four bedder during Queensland’s stay-at-home COVID-19 lockdown saw their hard work pay off at auction, with the home selling in just 15 minutes. The nanny and nurse reno team flipping homes for fun
Rhenus Logistics has officially opened its new quay and has added a new harbour mobile crane at the Deep Sea Terminal on the Maasvlakte in the Port of Rotterdam. The new 275-meter-long quay is on the east side and is an addition to the 500 meter quay that Rhenus already has on the south side of the terminal.Seaway Heavy Lifting has been using the terminal as a homebase since March 2014.The new capacity has resolved the issue of vessels working on offshore related projects staying on the quay for a long time and thus reducing space for other ships.Peter van der Steen, Managing Director of Rhenus Logistics B.V. says: “The new ‘Oostkade’ gives us the opportunity to operate both the offshore vessels of Seaway Heavy Lifting and the Nirint Shipping liner service on Cuba and the Caribbean simultaneously. That’s why we also bought a fourth harbour mobile crane. “Previously, Rhenus invested in the construction of two warehouses measuring 54,000 square meters. The total area of the former ro/ro terminal is 210,000 square meters.
Tottenham manager Andre Villas-Boas hopes the long-running Gareth Bale transfer saga will finally come to an end in the next couple of days. Villas-Boas responded diplomatically when quizzed about the Welshman’s future on Sunday night. The Portuguese said there was a possibility that Bale would stay, although he hardly looked as if he meant it, and he defended his star man for missing the game. “There is interest from Real Madrid,” Villas-Boas said. “Whether the transfer will happen or not, hopefully you will have more news in the next couple of days, but at the moment there is nothing I can tell you.” Should a deal not be agreed on Monday then Villas-Boas expects Bale to be back at Tottenham’s training ground the following day. “Monday is a day off. Tuesday is training so I would expect him to be there,” the 35-year-old said. “We have allowed him two days off. “It’s not the first time this has come up. We never force non-selected players to come to our games. I decided that last season.” Chelsea snatched Willian from under Tottenham’s noses and Blues boss Jose Mourinho then gloated by criticising Spurs’ handling of the Brazilian’s medical. Villas-Boas refused to criticise Willian for snubbing Spurs and he even cracked a joke when asked about Steaua Bucharest defender Vlad Chiriches, who is close to joining Spurs for £8.5million. “Maybe someone will steal him as well,” Villas-Boas quipped. “But there is interest in (Chiriches).” Press Association Spurs maintained their 100 per cent winning start to the season with a 1-0 victory against Swansea on Sunday, but Bale was not there to watch as he was in Marbella having been given the weekend off. The Welshman has been linked with a world-record move to Real Madrid all summer and the fact that the Spanish giants have erected a stage at the Bernabeu suggests they are preparing to unveil Bale as their latest ‘Galactico’.
However, Newcastle keeper Rob Elliot retains his place and Reading’s Alex Pearce and Brighton’s Stephen Ward are also included. Ireland face the Latvians at the Aviva Stadium next Friday evening in the new management team’s first game, and then travel to Poznan to meet the Poles four days later. O’Neill and Keane will hold their first training session with the players in Malahide on Monday. Squad: David Forde (Millwall), Keiren Westwood (Sunderland), Rob Elliot (Newcastle); Sean St Ledger (Leicester), Marc Wilson (Stoke), Seamus Coleman (Everton), John O’Shea (Sunderland), Alex Pearce (Reading), Stephen Kelly (Reading), Joey O’Brien (West Ham), James McCarthy (Wigan), Ciaran Clark (Aston Villa), Stephen Ward (Brighton); Glenn Whelan (Stoke), Paul Green (Leeds), Andy Reid (Nottingham Forest), Aiden McGeady (Spartak Moscow), Anthony Pilkington (Norwich), James McClean (Wigan), Robbie Brady, Stephen Quinn (both Hull), Wes Hoolahan (Norwich City); Shane Long (West Brom), Robbie Keane (LA Galaxy), Jon Walters (Stoke), Kevin Doyle (Wolves), Anthony Stokes (Celtic). Ireland have named a 27-man squad for the upcoming friendlies against Latvia and Poland. Under-21s boss Noel King, who took charge for the final two World Cup qualifiers last month, selected the party with new manager Martin O’Neill and assistant Roy Keane having only signed their contracts on Tuesday evening. QPR defender Richard Dunne will not join up with the squad as he continues his recovery from the groin problem which sidelined him for the whole of last season. Press Association
Ince, who joined the Tigers from Blackpool this summer, is considered one of the brightest young talents in the country. The 22-year-old was named the Football League Young Player of the Year in 2013 after scoring 18 goals for Blackpool in the Championship. Hull forward Tom Ince hopes to prove his worth in the Barclays Premier League in the next couple of years. Press Association Ince spent five months on loan at Crystal Palace last season but struggled to establish himself under Tony Pulis and made only five league starts. “It’s vital for me that I settle here at Hull, these are a couple of big years for me,” Ince said. “When I got off the phone with Steve Bruce and met the people here and the rest of the lads I knew it was the place for me to be. “Now I can find my feet, enjoy a good Premier League season and I have personal ambitions for myself. “I want to score goals in the Premier League and prove to people and myself that I can mix it in this league. “It’s early days but it’s a 38-game season – even more with the Europa League – so hopefully there will be plenty of chances for me to show what I can do.” Hull have so far brought in five players this summer, four of whom are British. As well as Ince, Jake Livermore, 24, Robert Snodgrass, 26, and Andrew Robertson, 20, have all arrived at the KC Stadium. “It shows the route we are going down – we are bringing through young British players to come in and work hard,” Ince said. “When you look beyond the pitch you have to have a strong togetherness and we have that in the dressing room. “We look after each other and the gaffer has brought in some good players. “Andy Robertson has come from Dundee, he is only 20 years old and he has done fantastic.” Bruce’s side began the Premier League campaign with a 1-0 victory at QPR on Saturday thanks to James Chester’s second-half header. Hull finished four points clear of the relegation places last term but may find it harder this season given their involvement in the arduous Europa League. The Tigers travel to Belgium on Thursday to play KSC Lokeren in the first leg of a qualification play-off tie, before returning to host Stoke on Sunday. “We have great depth in this team now because we know we are going to be fighting on a lot of fronts,” Ince said. “To be in that tournament with this club is massive, it’s the first time in their history. “We play a strong Belgian side on Thursday but we have strength in depth and ability in all areas. Ince added: “It’s massive to mix it with the big boys and against the big teams. “To play in Europe, Champions League or Europa league, is a fantastic opportunity.”
Eight teams cut on West Dem opening nightTHE Colours/ Guinness Greatest in the Street East and West Bank Demerara football tournament got off to a lively start with eight teams being cut from the tournament on the opening night at Pouderoyen.The first to go was raiders as they succumbed 2-0 at the hands of Patentia Street Ballers,with Kurt Garnett’s 15th minute strike being followed up by Andre Bernard in the 18th.In the second game, it took one strike to eliminate Harmony B, as Goed Intent’s Daniel Alves in the 15th minute sealed the deal.Game three saw an utter 3-0 demolition of Speed Boat by Admiral United.A crazy mix-up by the defence allowed United to take the lead early through Lexroy Manfield who solidified that lead three minutes later as his team ran rampant. Emanuel Henry in the 11th minute would then put the finishing touches on the game.In Game 4,E.S.P.N.held their one goal advantage to the end over their Samaroo Dam opponents,thanks to Nicquan Nestor in the 14th.Bagotstown Warriors needed a penalty shoot-out to beat Young Ballers as they won 1-0 while the same method and result gave Hustlers the win over Bagotstown Ballers.Future Crane needled Agricola,1-0 through Ashton Hodge in the 13th while DeKinderen Ballers had the same result over the Vege Boyz; their goal coming from Steffen Dickson in the 19th.In game 9, the Westside Ballers beat Comfort Ballers 2-0 thanks to Dwayne St.Kitts 6th minute and Gideon Payne’s 12th minute strikes.Small Panama went down to Showstoppers 3-0.Their three goals came from:an own goal in the 7th, Dexroy Adams in the16th and Kayode King in the 20th.Action resumes on February 7th.
Wreford expressed his emotions and believes that he is an oustanding individual both on and off the field and will make a huge contribution to the Club.Wreford said: “As MCC looks to broaden both our horizons and international reputation, I’m delighted that Kumar has accepted the invitation, which he did in January this year, to be the next President of MCC. He is an outstanding individual both on and off the field and will make a huge contribution to the Club. In a World Cup and Ashes year he will also have a significant role to play as President Designate.” Kumar Sangakkara named first non-British President of Marylebone Cricket Club.Sangakkara’s nomination was announced by the current President, Anthony Wreford.Sangakkara appears twice on the Honours Boards at Lord’s. highlights For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Kumar Sangakkara, the former Sri Lanka captain, has been announced as the first non-British President of Marylebone Cricket Club (MCC), and will take up his one-year post on October 1, 2019. Sangakkara’s nomination was announced by the current President, Anthony Wreford, at the MCC Annual General Meeting at Lord’s on Wednesday.”It is a huge honour to be named the next President of MCC and it is a role that I am thoroughly looking forward to,” Sangakkara said. “For me, MCC is the greatest cricket club in the world, with its global reach and continued progress for cricket on and off the pitch. The year 2020 is going to be yet another significant one in cricket, especially at Lord’s, and I am thrilled that I am going to be able to play a part in supporting its future as President of MCC.”
Mixed martial arts fighter Conor McGregor has been charged with assault and criminal mischief by New York City Police Department (NYPD) following an incident at a UFC media day.The former two-weight champion was one of a group alleged to have vandalised a bus containing rival fighters, the Ultimate Fighting Championship said.The Irishman turned himself into police custody atÂ 9pmlocal timeÂ on Thursday.He will appear at Brooklyn Criminal Court afterÂ 9:30am(14:30 BST).“McGregor has been charged with three counts of assault and one of criminal mischief,” a NYPD spokesperson told BBC Sport.The incident occurred at Brooklyn’s Barclays Center, where the UFC had gathered to promoteÂ Saturday’sshow, headlined by Khabib Nurmagomedov and Max Holloway.Holloway was later ruled out of the fight because he was medically unstable.McGregor, 29, was with fellow fighter Artem Lobov, who was due to fight featherweight Alex Caceres.The UFC says McGregor and Lobov – accompanied by more than a “dozen individuals” – attacked the bus.Footage appears to show McGregor throwing a trolley at the bus – smashing a window – followed by further altercations.UFC says two fighters were injured and have been withdrawn fromÂ Saturday’sÂ undercard.Lightweight Michael Chiesa received several facial cuts, while flyweight Ray Borg suffered an eye injury.Lobov has also been removed from the bill, due to his alleged involvement. “The organisation deems today’s disruption completely unacceptable and is currently working on the consequences that will follow,” the UFC said.McGregor, who was beaten by Floyd Mayweather in a boxing match in August 2017, has not fought in the UFC since knocking out Eddie Alvarez in November 2016.BeforeÂ Thursday’sÂ incident, he was stripped of his UFC lightweight title for being inactive, with the winner of Nurmagomedov-Holloway taking the belt.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram