Alliance, the €622m Dutch pension fund of Nestlé, has divested from three of its in-house hedge funds.In its annual report for 2016, the scheme said it had also ceased hedging its inflation risk. Alliance, which has 3,380 participants, had a 12.5% stake in hedge funds at the end of last year.Although several Dutch pension funds have divested from hedge funds during the past few years, Alliance’s decision is remarkable as its holdings were part of Ireland-based Robusta, the umbrella fund through which pension assets of Nestlé’s international schemes are pooled.The Dutch pension fund divested almost €71m from three funds-of-funds managed by Robusta. In its annual report, Alliance said it had sold its stake because of high risk and costs as well as decreasing returns. Last year, its hedge funds allocation delivered 2.3%, an underperformance of 0.6% percentage points compared to its benchmark.The pension fund said it had reduced its asset management costs from 0.94% to 0.56% as a result of the divestment. It also said the move had led to slightly higher expected returns.The sale of its hedge funds came in favour of investment grade and high yield credit, alternative fixed income as well as listed property.The annual report revealed that the pension fund also withdrew a €20m allocation to European small caps from Robusta. At the end of 2016 the scheme had a €13m allocation to private equity run by Robusta.Earlier this year Nestlé sacked its internal asset manager, Nestlé Capital Management, from several Robusta mandates, replacing it with external providers including BlackRock and Grosvenor.Alliance still receives investment advice from Swiss-based Nestlé Capital Management.In its annual report, Alliance also said it had decided to gradually reduce its 20% inflation hedge through swaps, after an asset-liability management study had shown that the cover only had a marginal effect on the scheme’s results.In 2015, it had seven swap contracts with a combined negative value of €25m, with several merchant banks.At the end of 2016, it had terminated three contracts, leaving a remaining contract value of €17m.During last June’s congress of IPE’s sister Dutch publication Pensioen Pro, asset manager AXA urged pension funds to pay more attention to inflation hedging, for example through inflation-linked bonds.Alliance declined to clarify its decision to divest from Robusta’s hedge funds and to cease its inflation cover.
Reuters 1 February 2015Like any new father, Novak Djokovic has quickly developed a new perspective on life and tennis.The Serbian won his fifth Australian Open title on Sunday, beating Andy Murray 7-6(5) 6-7(4) 6-3 6-0 but his thoughts turned to family, rather than the trophy he had just won.For Djokovic, the win was all the sweeter because it was his first grand slam title since he and his wife Jelena celebrated the birth of their first child last October.“I think it has deeper meaning, a more intrinsic value now to my life because I’m a father and a husband,” he told a news conference.“As my life progresses, there are circumstances, situations, events that define these beautiful moments.“Getting married and becoming a father in the last six months was definitely something that gave me a new energy, something that I never felt before. And right now everything has been going in such a positive direction in my life.http://www.reuters.com/article/2015/02/01/us-tennis-open-men-djokovic-fatherhood-idUSKBN0L51M820150201?irpc=932
Published on October 29, 2015 at 8:10 pm Contact Brett: [email protected] | @Brett_Samuels27 Facebook Twitter Google+ Florida State running back Dalvin Cook will not play Saturday when the Seminoles host Syracuse on Saturday.FSU head coach Jimbo Fisher told media on Thursday that the star running back will sit out due to an ankle injury. No. 17 Florida State (6-1, 4-1 Atlantic Coast) is coming off its first loss of the season last week against Georgia Tech. Per multiple media reports, Cook was seen at practice on Thursday wearing an ankle brace. The sophomore has also dealt with a lingering hamstring injury in recent weeks.Cook is averaging 8.2 yards per carry on the season, and has tallied 1,037 rushing yards and 11 rushing touchdowns. He’s also caught 15 passes for 181 yards.Earlier this week, Syracuse (3-4, 1-2) head coach Scott Shafer compared Cook to Heisman Trophy front-runner Leonard Fournette.“Once again, great vision, like all the great running backs. He’s very elusive,” Shafer said on his Tuesday teleconference. “He can take the outside zone play and run around a lot of angles as well as anyone in the country.”AdvertisementThis is placeholder textSyracuse and Florida State will kickoff at noon on ABC on Saturday in Tallahassee, Florida. Comments
In this Aug. 30, 2012 file photo, Pittsburgh Steelers linebacker Sean Spence (51) is tended to by trainers after he was injured in the fourth quarter of their NFL preseason football game against the Carolina Panthers, in Pittsburgh. (AP Photo/Don Wright, File)by Will GracesAP Sports WriterPITTSBURGH (AP) — Sean Spence had to look. He didn’t really have a choice if he wanted to move forward with the kind of healing that can’t be addressed with a brace or a wad of tape.Handed a photograph of the moment that changed his career and his life, the Pittsburgh Steelers linebacker tried not to get nauseous. He nearly failed.“It was bad,” Spence said. “I couldn’t even believe my body made that movement.”That’s because it’s not supposed to.The third-round pick out of Miami (Fla.) was wrapping up a spectacular training camp in August 2012 when he found himself chasing down Carolina Panthers backup quarterback Jimmy Clausen in the third quarter of the preseason finale. Spence was in the midst of reaching out for Clausen when the linebacker’s left knee bent grotesquely underneath him.In an instant, Spence’s knee exploded. Ligaments shredded. His kneecap dislocated and turned 90 degrees. And that wasn’t the worst of it. Spence severely damaged his peroneal nerve, the kind of injury from which athletes rarely recover.Laying on the Heinz Field turf, tears in his eyes and agony coursing through his body, Spence wondered if he’d ever play again. He wasn’t the only one.“It was one of the few times I got emotional about seeing a player go down, a promising young player in camp,” safety Ryan Clark said. “To see him hurt and the way he was, and to see him dealing with that injury on the field, it made me emotional.”And made the moment Spence donned a helmet and shoulder pads for the first time in 14 months all the more thrilling. After spending more than a year in a grueling rehab program that left Spence feeling “alienated,” he worked with the scout team on Wednesday in what he called a major milestone toward his eventual return.The Steelers activated Spence off the physically unable to perform list on Tuesday and have three weeks to decide whether to put him on the 53-man roster or put him on injured reserve.There’s little doubt which avenue Spence prefers, even if he knows he won’t be available this weekend when the Steelers (1-4) host rival Baltimore (3-3).“I’m definitely hoping (to play this season) but I’m not going to guarantee anything,” Spence said. “I’m going to keep working at it and see how it goes.”The fact Spence is even at this point is no small miracle. In an era where knee surgery is commonplace, nerve issues are something else entirely. The peroneal nerve is located in the lower half of the leg and can affect everything from leg strength to the ability to move your foot up and down. For months there was no guarantee the peroneal nerve in Spence’s left knee would repair itself.Even now Spence only offers a brief “it’s good” when asked to assess the nerve’s progress. The truth is, he’s not sure how any of this is going to go. While he appeared to pass his first brush with contact in 412 days with no problem, he cautioned “ask me (Thursday) how I’m doing.”Hard to blame Spence for trying to temper his enthusiasm. He appeared more than NFL-ready during his first training camp, opening eyes with his speed and intelligence. And that was before he even knew what he was doing.That confidence, however, evaporated in a flash. He’s spent months learning to trust his body will do what he asks. Until that trust is restored, he knows he has no chance of donning his No. 51 jersey on Sundays.“When you’re on the field there’s no thinking,” Spence said. “When you’re rehabbing there are certain landmarks and things like that, but when it comes down to playing ball, you just want go play.”Something that might have to wait until 2014. Spence will wait if he has to. So will the guys who have marveled at his perseverance and his intelligence.“He’s that much smarter now,” outside linebacker Jason Worilds said. “Whereas a year ago, he was making plays but he was making plays off his natural ability. Now he’s learned. It’s going to be exciting.”Not to mention welcomed. Viewed as the eventual heir to Foote at inside linebacker, Spence could only watch as Foote was lost for the year with a torn biceps and replacements Kion Wilson and Vince Williams struggled to get up to speed.“You feel like you missed an opportunity, but I know things happened for a reason,” Spence said. “If I have an opportunity to take advantage of it, I will.”__NOTES: Tackle Marcus Gilbert (quadriceps), DE Brett Keisel (abdomen) and LB LaMarr Woodley (knee) were limited in practice Wednesday … LB Jarvis Jones did not practice due to a head injury. TE Heath Miller also sat out, though it was not injury related.___AP NFL website: www.pro32.ap.org
He coached in Nelson Minor Hockey.He was part of the revitalization of the Leafs when Simon Wheeldon took over the Green and White in the mid 2000’s, even won a Kootenay International Junior Hockey League title in 2009. Now, after finally getting to fully recruit during the spring, Frank Maida gets to see the fruits of his labour when the Leafs open the 2012-13 KIJHL campgaign Friday at the NDCC Arena against the Castlegar Rebels.The Nelson Daily Sports Editor Bruce Fuhr had a chance to talk with Maida about the upcoming season and the Leafs franchise in the latest segement of Six Questions. The Nelson Daily: For five years you coached in the shadow of Simon Wheeldon. Last season you joined the Leafs six weeks before the start of the season after then head coach Chris Shaw took another job and had to pick up the pieces left over from the departed coach. This season it’s all yours so what do you hope to accomplish?Frank Maida: Having a really good year. The season is about developing players and coming together as a team ready for the second part of the season, the playoffs. Our goal is to finish top two in our division and once we hit playoffs ready to go deep.TND: Junior hockey players leave home at a young age to pursue their dreams. How do you convince parents and players Nelson is a better fit than other junior franchises in the province?FM: Our program is real close to a Junior A program. We have structure on and off the ice our players must adhere to. Our program is about developing young men on and off the ice. TND: The KIJHL has turned out a few gems in the name of Shea Webber, Brad Larsen, Cody Fransen and Geoff Kinrade, to name a few. However, for most of the players Junior B is the best hockey they will play. What do you hope the players take from their time with the Leafs?FM: We hope the players get a great experience playing and living in Nelson. But our main goal is to develop the player’s skills to the move them to the next level, if not during the year, then the next season.TND: There’s not much glamour coaching Junior B. There’s long hours logged on buses and spending a lot of time in cold arenas during the winter. What entices you to be head coach of the Nelson Leafs Hockey Club?FM: I really enjoy the players. Our goal is to win but not at all costs and I get great pleasure moving players to the next level.TND: Nelson players have been seen laying wreaths at Remembrance Day ceremonies, selling KidSport raffle tickets during Road Kings Queen City Shine and playing floor hockey at elementary schools. Why is it important to have representation at these events?FM: Our fans and businesses in the City of Nelson really support the Nelson Leafs and we want to give back to the people of Nelson, the kids in the schools and have the players be part of Nelson.TND: Leaf fans got a little spoiled during the five-year run with you and Simon Wheeldon as skippers of the Good Ship Leaf. However, the past two years the team has been knocked out in the first round of the playoffs. Can fans expect a different result come February? If so, why?FM: The first year Simon and I took over the Leafs we also were knocked out in the first round of the playoff. Building a team is not easy but having returning players that know our systems allows them to be able to help the new players learn and be leaders both on and off the ice.
Donegal local authority homes are to get €319,000 for energy efficiency works.The works, which include insulation overhauls, are part of a €10M package announced by Minister for Housing Jan Sullivan.Senator Jimmy Harte has welcomed the news. “This is good news for many local authority properties that are in need of insulation and is another commitment that is being delivered on.“The local authorities in Donegal will be in a position to spend the money on properties that are in greatest need. I congratulate the Minister on this initiative,” he said. DONEGAL HOMES GET €319K FOR INSULATION PROJECTS was last modified: July 21st, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:grantsinsulationjimmy harte
26 July 2010Brazilian firm WEG has acquired a 51% stake in South Africa’s Zest Electric Group for an undisclosed amount as part of its African expansion strategy.Zest has been representing WEG electric products in southern Africa since its inception in the 1980s, when WEG began to explore international markets.Nearly 30 years later, WEG is an internationally respected supplier of first-class products to the industrial electrical energy sector. The significant growth experienced by WEG over the last few years promises to continue, as is evidenced by its ever expanding global network of businesses and manufacturing plants.“The investment by WEG in Zest demonstrates WEG’s commitment to the African market and its firm belief that the continent has much to offer in terms of future growth,” Zest founder and CEO James Blakemore said in a statement this week.Entrepreneurial cultureA fundamental part of the transaction is WEG’s recognition of how important Zest’s entrepreneurial culture and personalised approach to business and client service has been to its success.WEG is seeking to build on these foundations to drive more positive growth, and Zest’s clients and business partners stand to benefit significantly from the direct shareholding of a major global brand in the company’s operations.“The transaction will dramatically expand the Zest Group’s operational and strategic horizon, bringing new and exciting products and services to the businesses that have enjoyed such long relationships with Zest across the southern African region,” the company said.African market leaderDuring the 30 years that Zest has represented WEG in southern Africa, it has become the market leader in the supply of electric motors throughout Africa.According to the statement, diversification into electrical panels, generator sets and the electrical installation business has set the Zest Group up for ongoing growth in the electrical industry arena, and the introduction of WEG as a majority shareholder allows Zest to consolidate its market position.“Together, WEG and Zest have the resources, products, skills and localised experience to expand dramatically within the continent,” said Blakemore. “This expansion will hold a range of new opportunities for our people – from staff to business partners and customers – and opens a brand new chapter in the Zest story.”SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material
The South African Government’s work to attract foreign direct investment and ensure its even distribution is advancing our national social objectives, according to the findings of a recent study, writes Minister in the Presidency Jeff Radebe.The BMW automotive assembly plant in Rosslyn, Pretoria. (Image: Brand South Africa)Minister in the Presidency Jeff RadebeSouth Africa has the ability to attract foreign investment and host multinational companies with great success. We are a dynamic economy and a popular destination for investors.Since the advent of democracy, the inflow of investment from top international companies has reinforced our credentials. We offer the stability of a developed country along with the lucrative opportunities of a vibrant emerging market.Last year, South Africa attracted R62-billion in investment inflows. It also ranked high among the BRICS countries – Brazil, Russia, India, China and South Africa – in attracting foreign investment.Foreign direct investment contributes significantly to our national goals of socioeconomic development by creating sustainable jobs and the opportunity for skills development and training.Government’s work to attract foreign direct investment and ensure its even distribution is advancing our national social objectives, according to the findings of a recent study, Foreign Direct Investment and Inclusive Growth: The impacts on social progress by international consulting firm Deloitte UK.The study ranked South Africa 63 out of 132 countries and made us the second-best performer after Brazil among the BRICS nations in converting foreign direct investment into social progress.It affirms our work over the last 21 years to undo the gross inequalities and skewed delivery of basic services we inherited as a result of apartheid’s distorted policies.In 1994, many black South Africans were systematically excluded from basic services, prevented from accessing the benefits of society and participating in the economy. Millions languished in poverty, dispossessed of suitable housing, access to safe water and sanitation or sustainable energy sources.The study singled out our success in access to basic knowledge, nutrition and basic medical care as key areas that resulted in ensuring the wellbeing of South Africans.In education this was achieved through early childhood development facilities which cater for over a million children under four years old. Additionally, Grade R enrolment has more than doubled from 300 000 in 2003 to 705 000 in 2011, reaching the level of universal access.More than 8-million learners are benefiting from our no-fee school policy which has helped increase enrolment in secondary schools from 51% in 1992 to 80% currently. The National School Nutrition Programme provides meals to 9-million learners.Government’s social assistance grant programmes, its initiatives to develop small scale famers and nutrition education programmes are all aimed at ensuring food security and fighting malnutrition.In healthcare, we have built more than 1 500 health facilities since 1994. Primary healthcare is free and hospital fees for pregnant women, children under six years and people with disabilities have been abolished.Other areas in which the country outperformed was in personal rights personal freedom and choice, and access to information and communication.However, the study found ecosystem sustainability, access to advanced education and personal safety were marked in the study requiring greater improvement. These are currently being addressed.We are committed to continuing to attract foreign investment. Let us all work together to market South Africa as a great investment destination.
Bengaluru: Chief Election Commissioner Sunil Arora on Tuesday assumed Chairmanship of the Association of World Election Bodies (A-WEB) for the term 2019-21. The decision and announcement to this effect was made at the fourth General Assembly of A-WEB underway here, being attended by as many as 120 delegates from 50 countries. Arora, Election Commissioners Ashok Lavasa and Sushil Chandra and the outgoing A-WEB Chairman from Romania, Ion Mincu Radulescu inaugurated the event. The CEC said on Monday at the extraordinary session of the Executive Board of A-WEB that the Election Commission of India had been closely associated with the formation process of the A-WEB during 2011-12, and was one of the founding members of A-WEB in October 2013. A member of the Executive Board since 2013, India had taken over as Vice-Chair of A-WEB since 2017, he had said.
Brittany HobsonAPTN NewsThe life and death of a 17-year-old First Nations girl is the subject of a new ‘disturbing’ report released by the Manitoba Advocate for Children and Youth.The report titled In Need of Protection: Angel’s Story documents the teen’s, who is only referred to by her first name, involvement with Child and Family Services beginning at the age of one and ending with her tragic death in 2015.“From the time she was an infant Angel was exposed to persistent abuse, neglect and violence,” Daphne Penrose told reporters Thursday.The report provides a harrowing timeline of Angel’s involvement with the child welfare system.It paints a picture of a short and tragic life grounded trauma and the series of systems who failed her.The first time Angel was sexually assaulted she was just 21 months old.The assaults would continue until her death.By the age of 12 she was apprehended 14 times, and she went through 46 different placements in her life.The report documents she used drugs and alcohol to numb the pain.She was 11 when she first attempted suicide.In fall of 2015 Angel died from an accidental drug overdose.She was in care at the time of her death.“Her story as you read it is one that stands out as a shocking reminder that too many children and youth in our communities are subject to immense trauma and are taken too soon,” said Penrose.Throughout her life Angel was allowed to return to live with her mother but Penrose’s investigation found the mother was not provided any supports to help care for Angel as she was suffering from her own traumas.“There wasn’t enough assessment done to determine whether or not mom had the capacity to safely parent and then to find an alternative permanent family placement or alternative placement for her,” said Penrose.Penrose makes six recommendations in the report including the need for specialized mental health and addiction supports for youth.She said her office found 24 instances where outside agencies determined Angel required mental health support but found child welfare workers didn’t follow through.She also expressed the need for more protection for youth at risk of being sexually exploited as it is a ‘right now’ problem.Her investigation found Angel started seeking help when she was eight-years-old but everyone around her were unable to recognize the signs.The report also featured the stories of seven exploited youth Penrose’s office is currently dealing with.“It wasn’t a situation that happened just to Angel. This is happening to hundreds of young girls in our province right now,” said Penrose.Penrose said she presented her report and recommendations to department officials a few weeks ago but the office of Manitoba’s Families Minister Heather Stefanson said they weren’t “privy to those discussions.”In a statement Stefanson wrote, “MACY’s recommendations require a whole of government response and senior officials from multiple departments will develop responses and discuss options to collaborate on a sexual exploitation public awareness campaign.”“They plan to meet with the advocate to discuss ways to collaborate.”This is the second child death report publicly released after the province made changes to the child welfare legislation allowing the advocate to release her reports.The advocate’s office is working on another eight [email protected]@bhobs22