Russell Investments awarded £15bn LGPS pooling mandate

first_imgEight public sector pension funds in Wales have appointed Russell Investments and Link Asset Services to help pool and run £15bn (€17bn) of investments.The Wales Pension Partnership (WPP) – one of eight asset pools being set up by UK local government pension schemes (LGPS) – announced today that Link Asset Services would operate a collective investment vehicle to pool its assets.Russell has been appointed for investment advice and manager selection. The mandates for Russell and Link include portfolio construction, cost reduction, currency hedging, transition management and other services.Chris Moore, director of corporate services at Carmarthenshire County Council, described the appointments as “a significant milestone” in pooling the Welsh funds’ assets. Peter Hugh Smith, managing director of Link Fund Solutions, part of Link Asset Services, said: “We are pleased to have been selected by WPP to facilitate the pooling of the assets of the eight existing local government pension schemes in Wales.“The pooling of the assets into a collective investment vehicle means the constituent authorities will benefit from enhanced governance and the protection of a regulated tax transparent structure.”Jim Leggate, head of UK institutional and Middle East at Russell Investments, added that pooling “provides the opportunity to deliver significant savings over the long-term, which will create additional value for scheme members”.In 2016, WPP appointed BlackRock to run nearly £3bn of passive mandates on behalf of the eight pension funds, replacing State Street Global Advisors and Legal & General Investment Management. This arrangement will continue outside of the collective investment vehicle being established by Link.The LGPS pools must be ready to accept assets from early April, according to the government’s deadline.Link is one of the UK’s leading fund administration providers, and according to its website oversees roughly £45bn of annual payments across various product types.last_img read more

34 Athletes for Annual CCSF Taekwondo Workshop in Abuja

first_imgThirty-four athletes drawn from the six geo-political zone including the Federal Capital Territory (FCT), Abuja will be part of this year’s Chika Chukwumerije Sports Foundation (CCSF) Training workshop holding between May 11 and 15.The workshop series which began in 2010 and has since become a watering ground for upcoming future taekwondo champions, with the programme specifically designed to complement the fantastic work being done by coaches all across the country in raising young athletes, by increasing the technical and tactical knowledge of participants.According to the Founder/Chief Executive Officer of CCSF, Chika Chukwumerije, “the singular philosophy upon which the CCSF Training Workshop is based is that Nigeria’s young upcoming athletes, despite their seeming clumsiness and gawkiness, possess incredibly explosive sporting and intellectual abilities that only needs to be properly ignited at this tender age in order for these abilities to explode to blinding limelight in a couple of years. “To this end, participants are rightly treated like the champions they are, and exposed to the latest equipment/techniques/tactics that they need to excel in the sport.”The three-time Olympian added: “It has become easier to highlight the undeniable progress of the program’s vision with recent successes of past participants like 18-year- old Adamu Abubakar Isah and 17-year- old Shola Olowookere (presently Commonwealth gold medalists). Some of the other ex-participants have won the National Youth Games and battle head-to- head with older and more experienced athletes at the various National competitions available in Nigeria.Most participants are drawn from schools or strongly encouraged to continue their educational programmes, which is in line with CCSF’s vision that prospective champions must also be educated during their journey to becoming champions.The Beijing 2008 Olympics bronze medalist said that this year’s edition would continue with its tradition to exposing young athletes to the best training taekwondo drills practised in international circuits, in addition to inspiring the athletes through organising their interactions with past and present champions in inspirational lecture series.Top experts expected to handle proceedings at the five-day event are Chika Chukwumerije, Africa’s first three-time Taekwondo Olympian, and other established national past and current champions, like two-time African champion, Mrs. Margaret Elizabeth Binga and two-time national champion and three-time NUGA gold medalist, Sani Lawal.The feeding and accommodation of the participants would be catered for by CCSF with only U-20 athletes expected to make it to the event holding in Abuja.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Basketball looks ahead to Oregon game

first_imgA pair of strong victories over the weekend have helped stabilize the USC men’s basketball team after it underwent a bumpy start to Pac-12 competition this season.Senior guard Elijah Stewart scored 9 points against Utah, going 3-for-4 from long range. Tucker Judkins | Daily TrojanA 20-point scoring effort from senior guard Jordan McLaughlin propelled the Trojans past visiting Colorado on Jan. 10, 70-58. The victory over the Buffs was followed up by an 84-67 USC routing of Utah on Sunday, a game which saw the Trojans hit a season-high 14 3-pointers as a team.USC’s (13-6) weekend sweep at the Galen Center improved it’s conference record to 4-2 this season and moved it into a tie for second-place with UCLA in the Pac-12 standings.“Every game in our league is a challenging one this season — we’re in a very deep conference,” USC head coach Andy Enfield said. “We’re happy with how we played this past week. We beat two tough teams at home and we’ve been playing some good basketball.”  The Trojans will look to extend their conference winning-streak to three games Thursday night, as they travel to Eugene to take on Oregon (12-6, 2-3). The Ducks, who are coming off a 90-83 loss to No. 14 Arizona, are led offensively by sophomore guard Payton Pritchard (who is averaging a team-high 15 PPG).“We’ve been playing some good basketball, very well on the defensive side of things over the past five games,” Enfield said. “We know it’s going to take another good defensive effort from our guys to pick up a win at Oregon.” Pac-12 losses to Arizona (Jan. 13), Oregon State (Jan. 5) and Utah (Dec. 29) have dropped Oregon to a 2-3 record in conference play this season. The Ducks currently find themselves situated at eighth in the Pac-12 standings. USC was swept in its series against Oregon last season, losing both games in double-digit fashion. When the Trojans traveled to Oregon last season, they returned with an 84-61 blowout loss to the Ducks. USC has not won a road contest against Oregon since the 2008-2009 season.“We’ve just got to show up and play some solid defense for an entire 40 minutes and knock down some shots,” McLaughlin, said. “It’s a little tough to be playing there, but then again every road game is tougher … If we can stick to playing fast, smart, unselfish, we should be in it.” McLaughlin, who leads the conference with 7.6 APG this season, is also averaging 13.2 PPG and has been the main offensive cog for the Trojans all season long. USC will look to McLaughlin to feed the other three Trojans scoring in double-figures this season: junior forwards Chimezie Metu (team-high 16.7 PPG) and Bennie Boatwright (15.4 PPG) and senior guard Elijah Stewart (10.9 PPG).“[McLaughlin’s] a great leader for us, and it’s really showing on the court right now,” Metu said. “If you’re in the right place on the floor, he’ll find you. He’s a guy who will make the right pass 10 times out of 10.” After losing to Stanford back on Jan. 7 in the most devastating of fashions (allowing a 55-foot 3-pointer as time expired in regulation), USC has responded resiliently by racking up back-to-back conference victories, both by double digits.After doing battle at Oregon on Thursday night, USC will proceed to play Oregon State (10-7, 2-3) in Corvallis on Saturday.Following a rocky non-conference outing this season, USC will have another opportunity to continue its upward trek in the conference standings this weekend. A successful weekend sweep of the Oregon schools would have the Trojans flirting with the top spot in the Pac-12 standings.“We’ve just got to take this road trip one game at a time,” McLaughlin said. “We’ll keep all our focus on [Oregon] first and see what goes from there.”last_img read more