Sterling rebound dampens Church Commissioners’ 2017 return

first_img“Our perpetual endowment and long-term horizon is well suited to maximising returns from less liquid markets, including venture capital.”The Commissioners said: “We believe that prospects going forward are more muted than the recent past and we therefore retained our cautious approach, focusing efforts to create long-term value…“In the absence of a market correction in the near term, we will likely find ourselves in a low-returning environment for some years to come. This will mean that returns are generated principally by income and active asset management.”Equities lead returns as real assets stallThe fund’s global equities allocation was the strongest performer in 2017, with a return of 18.6%.In their report, the Commissioners said: “Unlike 2016, where performance was strong across the board, in 2017 most of the fund’s return was driven by our public equities.“Our active UK smaller companies manager and our global managers performed particularly strongly and outperformed across the board.”The emerging markets portfolio also delivered strong absolute returns, the Commissioners said. They also hailed a successful year for the fund’s in-house property team, although the combined real assets allocation delivered a relatively subdued 4% over 2017 after several years of strong performance.However, the recovery in sterling – mainly against the US dollar – was a “headwind” for their dollar-based strategies, the Commissioners said, including multi-asset, private equity and private credit strategies. The latter lost 1.6% during the year.Fixed income returned 4.8%, as credit markets rallied due to continued economic growth and improvements in corporate earnings – although these too were affected by the rebound in sterling.The defensive equity portfolio delivered 10% for the year, more than double its return for 2016, while private equity gained 7.2%. Around a quarter of the Commissioners’ private equity allocation – which makes up 4.7% of the overall portfolio – is in venture capital. The investment arm of the Church of England has warned of “muted earnings” for the medium-term, after sterling’s recovery in 2017 weakened returns for the year to 7.1%.The return on the Church Commissioners for England’s £8.3bn (€9.4bn) investment portfolio compared to 17.1% for 2016, and undershot its investment target of inflation plus five percentage points (9.1% in 2017).However, the average annual return over the past 30 years – 9.4% – is still above its target of 8.4%.Loretta Minghella, first Church estates commissioner, said: “The macro-economic environment is changing and, anticipating muted returns in the future, we will continue to develop our focus on non-traditional asset classes.last_img read more

LASG Donates Sporting Equipment to LASU

first_img“What Lagos State Sports Commission is doing today is the first step in several things in the pipeline for the university,” Bank-Anthony said.The Vice-Chancellor of the Lagos State University, Professor Fagbohun, thanked the Lagos State Sports Commission led by the Director General, Bank-Anthony for the onsite visitation to the university’s sports centre and the donation of the various sporting equipment.He assured that the university would make use of the donated equipment as expected by the Lagos State Sports Commission.“Like Oliver Twist, we ask for more,” Fagbohun said.Among the Sports Equipment donated to the university are two complete table tennis board,  10 table tennis bats and rubbers,  20 packets of Joola table tennis ball, a pair of complete basketball Upright, 10 Spalding Leather Basketball, 10 number of Mikasa Volleyball, two Volleyball Nets /Upright.Others are three Powerlifting Bench, complete sets of Power Lifting Weight, 10  IPC Waist Belts, 10 Match Football, four Powerlifting Wheel Chairs, eight  Basketball Wheel Chairs, 20 Skate Board and two table tennis nets.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The Lagos State Government through Lagos State Sports Commission has donated several sporting equipment to the Lagos State University (LASU).Making the donation on behalf of Lagos State Government at the University’s Sports Centre, Director General, Lagos State Sports Commission, Mr. Babatunde Bank-Anthony, disclosed that the donation is inevitable towards the development of sports at the Lagos State University.He disclosed further that Lagos State Sports Commission will henceforth take Lagos State University Sports as parts of its Sports development programme, adding that Lagos State Sports Trust Fund will be invited to assist in getting funding for sports development of the university to turn the sports complex at Lagos State University into a world class.last_img read more

Students set for 3-D game day experience

first_imgThough the Trojans will be far away, students will be able to see Taylor Mays up close and in 3-D Saturday night — but some aren’t sure that’s a good thing.During the Ohio State vs. USC football game tomorrow, the Galen Center will be turned into a 3-D movie theater, complete with 3-D glasses.“It’s going to look a lot like the HD graphics on normal TV,” said Anthony Bailey, vice president of emerging technologies for ESPN. “But when something is coming towards a low-lying camera, it will look like it’s right in front of you.”USC partnered with ESPN to provide the 3-D broadcast. As it is a new technology, ESPN will use Saturday’s event to help gauge fans interest in watching sports in 3-D.“It’s an intriguing matchup between USC vs. Ohio and it would provide a good opportunity to test during a premier game,” said Colleen Lynch, associate communications manager for ESPN.For the event, the Galen Center will put up three screens, each 40-feet wide and almost 23-feet tall. The three screens will form a U-shape around the video board hanging in the center of the arena, Bailey said.In addition to the 2-D broadcast from the field, seven 3-D cameras will also send feeds to the Galen Center screens.ESPN has been researching 3-D broadcasting for the past two years, Lynch said. They are waiting to see how people respond to this broadcast before they make any long-term decisions about how 3-D technology will be used in the future.All of the roughly 6,000 tickets for the event have been given out. Tickets were free and distributed on a first-come, first-serve basis, but 1,200 were reserved for USC students, said Craig Kelley, assistant director of marketing for USC’s athletic departmentWhile some students were excited by the broadcast, others said they weren’t convinced the 3-D showing will enhance the viewing experience.“I think it will be good,” said Elise Welch, a junior majoring in psychology. “I have always been critical of 3-D, but I have heard there have been improvements, so I’m excited to see it.”However, Welch said the 3-D element may make the game more difficult to understand.Samantha Klein, a junior majoring in fine arts, said she plans to attend the screening, partly because she has never seen a 3-D event before.“I’m curious to see what they do with it in the context of a sports game,” Klein said.Tara Marquez, a junior majoring in philosophy, law and politics, said the large screens and action of the game might make following the play distracting.“There might be too much going on on the screen,” Marquez said.Matt Broaddus, a junior majoring in English who describes himself as a lifelong football fan was also a bit hesitant.Broaddus said he does not plan to go to the 3-D broadcast. Instead, he will watch the game on normal TV.“It’s kind of interesting,” he said. “At the same time, it’s kind of weird. I’m apprehensive about it. It’s so different that it kind of turns me off.”last_img read more

UW seniors play last game

first_imgWith the UW men’s soccer team’s elimination by penalty kicks in the opening round of the Big Ten Championship, the playing career for UW’s four seniors is effectively over. Barring an at-large bid to the NCAA Championship, Victor Diaz, Kenny Dix, Zack Lambo and Andy Miller have played their last game as Badgers. For Miller, who has been a fixture on defense during his four years as a Badger, facing the end is an uneasy prospect.“It’s tough. It’s tough. I feel like I came in as a freshman last week,” Miller said. “It’s hard. … I put a work into [soccer] my whole life. A lot of us will never play in a situation like this again.”UW’s four seniors were all starters and accounted for 21 of UW’s 87 individual points this season, as well as 4 of 28 goals scored. The graduating class of 2009 finished its career with a 32-34-10 record, though the group was not able to get a Big Ten tournament win during that time. The Badgers got heartbreakingly close to their first before falling on penalty kicks 4-3, and Miller was glad he got the opportunity to shoot with his career on the line.“Absolutely. Any senior that wants to take one is going to get one,” Miller said of making the first shot for the Badgers. “It’s our last game, you know, it’d be horrible not to take it. It’s an incredible honor to be able to go up and have the chance to do it.”The seniors received recognition for their work on and off the field, as Diaz and Miller have been named as Academic All-Big Ten selections multiple times, and Diaz has received spots on the All-Big Ten first and second teams. Diaz and Miller were also named to the Big Ten All-Freshman team in 2005, and all four seniors have been named to all-tournament teams during their careers.Though the team’s losses number-wise will not be great going into next year, the experience and minutes they played will be sorely missed. All four seniors have started since their freshman year, offering beneficial stability, which, according to head coach Jeff Rohrman, has been indispensible.“I’ll tell you what — it’s a great group of guys. They’ve really contributed to the growth of this program over the last four years,” Rohrman said. “I can’t say enough about the quality we have in that group.”Though the elimination by Michigan is likely the end of the line for UW, a number of pieces could fall into place and net them a spot in NCAA postseason play. For the at-large bids, RPI — a measure of strength of schedule as well as results — is taken into consideration. The Badgers are currently No. 26 in RPI, which puts them in contention to receive one of 26 at-large spots in the 48-team field. The strength of the Big Ten as a conference could play in UW’s favor when the teams are selected, as well as the fact that the game technically goes in the books as a tie, with Michigan advancing on PK’s.If Thursday’s game indeed ends UW’s season, it will leave a bitter taste in Miller’s mouth. Although all three of the Big Ten tournament opening round games went to overtime, the Badgers were the only team to be eliminated on penalty kicks, making it all the tougher to swallow.“It’s an unfair way to go out, but I guess it’s part of the game,” Miller said. “It’s the worst way to go.”last_img read more

CJEU denies Stanleybet on Italian ‘sole lottery concession’ appeal

first_img CT Gaming bolsters Italian profile with The Betting Coach  August 27, 2020 StumbleUpon Share Di Maio’s man Giacomo Lasorella takes leadership of AGCOM August 17, 2020 TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 The European Court of Justice (CJEU) has delivered its judgement on Stanleybet’s challenge of the Italian Customs & Monopoly Authority – ADM’s sole lottery concession model/framework.The CJEU rejected the joint appeal of Stanley International and Stanleybet Malta, which stated that the Italian government and its regulatory counterparts had denied betting incumbents services by enforcing an ‘exclusive national concession’ for lottery and lotto related games/products.Stanleybet had launched its European court appeal in April 2016, challenging the €770 million exclusive renewal contract awarded to Italian lottery operator Lottomatica (IGT Group), in which no external party bid for the Italian concession.The European betting group had stated that the ADM’s lottery tender process was redundant as its requirements and provisions were tailor-made for Lottomatica, with regulatory stakeholders allowing no external party to compete.In its review of Stanleybet’s challenge, the CJEU has stated that the ADM’s ‘concessionaire model for the management of a lottery is compatible with EU Treaty – therefore business services were not denied.The CJEU further adds that the management of member state lotteries is not a harmonised business sector for the EU, allowing the Italian government to add restrictions its deems fit to protect national consumers from gambling risks/harms.Publishing the CJEU’s Stanleybet case notes, Arjan van ‘t Veer, Secretary General of the European Lotteries and Toto Association (EL), commented:“The CJEU has clearly recognised that an exclusive concessionaire model, as chosen by the Italian legislator, is legitimate in order to promote responsible management of the lottery.”“The judgment points to the particularities of our sector where restrictions can be put in place in the general interest and which must be kept free from companies that have been referred to a criminal court. EL welcomes the confirmation in this ruling.” Share Related Articles Submitlast_img read more

Watch Yasiel Puig add to Dodgers’ lead with 3-run home run against Brewers

first_imgYasiel Puig hit a 3-run home run in the 6th inning to extend the Los Angeles Dodgers lead to 5-1 against the Milwaukee Brewers. Reaction: Let’s go Dodgers! 👏🏻👏🏻👏🏻#puig pic.twitter.com/srCCsSVd8j— Rivers Makris (@RiversMakris) October 21, 2018center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img

NFL Draft 2019: Raiders working out Kyler Murray, Dwayne Haskins

first_img NFL Draft 2019: 49ers favored to land Nick Bosa The Raiders could be looking for a new franchise quarterback when this year’s NFL draft rolls around.According to Sports Illustrated, the team is hosting private workouts for NFL prospects Kyler Murray and Dwayne Haskins next week. This indicates the Raiders are thinking beyond Derek Carr, who signed a five-year, $125 million deal in June 2017.“Derek is 27, he’ll be 28 in March, and we think he’s a franchise quarterback,” Raiders general manager Mike Mayock said last month. “The other piece of that is a GM and a coach have to look to upgrade the roster at every single position. So do I think there are a whole lot of quarterbacks out there better than Derek? No. But is it my job to always check, and look? Yeah.”  Related Newscenter_img Murray threw for 4,361 yards and 42 touchdowns for Oklahoma last year, while Haskins threw for 4,831 yards and 50 touchdowns for Ohio State.last_img read more

Chess Championship of FB&H in Zenica

first_imgZenica – the Board of directors of the Chess Federation of FB&H decided to organize two chess competitions during September and October in Zenica.From 26th to 28th September the town of Zenica will host the seventh team cadet’s championship of the Canton representations for the year 2014 while from the 2nd to 5th October the eight man and woman senior’s competition of the FB&H will be held.(Source: Fena)last_img

Manchester City to offer 60 million EUR for Miralem Pjanic?

first_imgEnglish Premier League football team Manchester City is ready to offer 60 million EUR for a player of the National team of BiH and Juventus, Miralem Pjanic, as reported by Italian media.The coach Pep Guardiola apparently sees our 27-year-old player as a new important link for his midfield, in which he would replace Fernandinho from Brazil who currently plays in that position.The leaders of City have already prepared a 60 million EUR worth offer, but the question is whether it will satisfy BiancoNeros, as reported by “Goal”.Pjanic came to Juventus from Roma for 32 million EUR back in 2016, and he enrolled 15 appearances, scored three goals and added the same number of assistance in this season.(Source: klix.ba)last_img read more

Wellington City Manager job opening gets lots of interest

first_img 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 (7) 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 Sort by: Date Rating Last Activity Loading comments… 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. +7 Vote up Vote down charlie · 315 weeks ago Usually, the reason for a committee, is to not let politics influence the hiring of a qualified manager. It will be interesting to see if we get someone can manage the money and resources of the City, or a yes man to the current council. Report Reply 0 replies · active 315 weeks ago 0 Vote up Vote down John Hannan · 315 weeks ago Why such a long delay for this hiring process? Report Reply 0 replies · active 315 weeks ago +5 Vote up Vote down charlie · 315 weeks ago I have a question. If a quorum of council is together for interviews and hiring, then the public and press can be present or it would be a violation of the open meetings? Will minutes be taken and be published like an open meeting? Report Reply 2 replies · active 315 weeks ago -1 Vote up Vote down yep · 315 weeks ago No worries they well just conduct business in executive session like usual. Report Reply +1 Vote up Vote down KOMA? · 315 weeks ago That’s a very interesting question, Charlie. They can certainly meet in Executive Session to discuss the applicants for the position under the employee privacy clause. I would expect that the interview themselves would have to be conducted in open session, with a properly announced meeting. I think that’s the main reason most City’s will prefer to use a hiring committee or a Search Firm to assist with the hiring process. Open meeting interviews would be a deterrant to some applicants I would have to think, and to be frank, I doubt many on the Council have any upper level hiring experience in their work history. This is a critical position for the City and it’s future, and has to be handled correctly. Report Reply +8 Vote up Vote down craig · 315 weeks ago Frankly, I’m not sure I trust the sitting council. Four of them were quick to rack up another utility increase with no regard for John Q. Public’s already strapped pocketbook. And we’ve still not been told by this bunch what happened to the nearly 1 million dollar rebate from westar… or why it wasn’t given back to the customers. We may need a regime change, except for the few holdout council members who *do* care about the overspending, the squandering, and the alleged cronyism. We’ve got problems here… and a huge need to be more frugal. And that’s just the tip of the iceberg. Report Reply 0 replies · active 315 weeks ago +3 Vote up Vote down Seriously · 315 weeks ago The interviews should be an open meeting with cameras rolling. They will try to hide behind executive session. There is an election for City Council coming up April of 2015. Let’s elect people that care. Report Reply 0 replies · active 315 weeks ago 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 comments by Tracy McCue, Sumner Newscow — The Wellington City Manager vacancy left by Gus Collins in April most certainly did not go unnoticed.The Wellington City Council received 53 applications for the manager’s position. However, Wellington Mayor Roger Stallbaumer cautioned that 15 resumes are probably legitimate.Roger Stallbaumer“A lot of those are random resumes sent out for any job opening out there,” Stallbaumer said. “But I do anticipate we have some very qualified candidates in that bunch.”But first comes the budget which the Wellington City Council will approve in August.“The budget comes first,” Stallbaumer said. “We aren’t going to even think about filling the city manager position until we get the budget put together.”The Wellington City Council has made one decision about the hiring process. The council will do the interviewing and conduct the search from start to finish. When Collins was hired in 2006, a committee was designated to do the search and make the recommendation. The council then hired him based on the recommendation.“We figured that job should be done by us,” Stallbaumer said. “After all that is why the public elected us.”The hiring timeline is also a bit uncertain. Stallbaumer thought the council will start the interviewing process in earnest in September and hire a full-time city manager by October. But, he cautioned, that is just a guess.Collins resigned from the city manager position in April – effective at the end of May. Shane Shields, the Wellington City Clerk, was hired as the interim city manager. He is currently serving it both capacities.Shields said he has applied for the full-time city manager position.Follow us on Twitter.last_img read more