The UK’s Lancashire County Pension Fund is looking to hire several transition managers to handle mandates worth as much as £5bn (€6.2bn).The local authority scheme said the tender, which aimed to set up a framework with several managers, was being put in place as it reviewed “various aspects of the investment arrangements” at the fund.“As a result, [the fund] expects to make significant changes to its strategic asset allocation, and also potentially its stable of investment managers,” the tender said.The framework would then allow the local authority fund to conduct a “lowest-price mini-competition exercise” when it required transition management services. It said the two-year contract could see several transition mandates tendered, with the fund estimating the value of mandates starting at £50m, but potentially covering nearly all of the fund’s £5.1bn in assets under management.Interested managers have until 21 October to express interest through the council’s procurement department.Lancashire currently manages around one-third, or £1.9bn, of its assets internally, nearly doubling the percentage of in-house assets over the course of the most recent financial year. Until last year, it managed nearly £220m of emerging market ETFs in-house, and it continues to oversee some fixed income, equity and property, as well as £172m in infrastructure funds, from Preston.At the end of March, it employed nine external managers, including Baillie Gifford, Robeco and MFS Investment Management.Magellan, Morgan Stanley, Natixis Global Asset Management and AGF Management were also in charge of parts of the fund’s equity holdings, while Capital Dynamics oversaw its private equity and infrastructure fund and Knight Frank its property portfolio.According to a portfolio breakdown, the fund also had £85m in assets overseen by Nomura and BNY Mellon’s transition management services, with the latter firm claiming the lion’s share as it handled the transition of £1bn in credit and fixed income holdings since March 2013.A large amount of this may have been diverted to Lancashire’s in-house team, with assets within its credit strategies portfolio increasing by £360m, to £784m, over the course of the last financial year.Over the same period, the bonds and cash portfolio managed in-house increased by £491m, according to figures from March 2014.According to minutes from its 6 June pensions committee, the holdings could also form part of a shift in its strategic asset allocation, first agreed in 2010.The minutes said: “Whist the fund continues to reallocate its investments in line with the revised investment strategy, amounts earmarked for future investments are held in transition accounts, cash, liquid bonds and directly held investment grade bonds.”The committee also said it would explore greater collaboration with neighbouring local authority schemes in future.
Promoted ContentWho Earns More Than Ronaldo?7 Black Hole Facts That Will Change Your View Of The Universe8 Things You Didn’t Know About Coffee10 Risky Jobs Some Women Do10 Actors That Started Their Careers On Soaps6 Interesting Ways To Make Money With A DroneWhat Disney Princesses Would Look Like In Modern Day Realities9 Most Epic Movie Robots We’ve Ever Seen10 Phones That Can Work For Weeks Without Recharging7 Thailand’s Most Exquisite Architectural Wonders6 Incredibly Strange Facts About HurricanesWhich Country Is The Most Romantic In The World? “Power, greed and profit have always been in the foreground (in recent years),” he added. “But now we have something which affects all of us, and we realise what really matters in life: friends, family and respect for others.” “We need to show that we can be different … and treat each other with more respect in the future.” Read Also: Pogba makes coronavirus fund-raising pledge Loew also welcomed UEFA’s decision on Tuesday to postpone Euro 2020 until next year. In light of the current situation, the decision had “no alternative”, he said. Both Bierhoff and Loew had offered to partially forego their salaries to help the association out during the crisis, DFB president Fritz Keller revealed. FacebookTwitterWhatsAppEmail分享 Loading… German national team footballers said Wednesday they would donate 2.5 million Euros ($2.7 million) to help fight the crisis caused by the coronavirus pandemic. Germany goalkeeper Manuel Neuer (C) pledged to make a donation to help with the coordination of the coronavirus response “We need to look after each other in times like this. We in the national team have been thinking and we are going to donate to a good cause,” said Germany captain Manuel Neuer in a video posted on Instagram. Other players such as Bayern Munich’s Joshua Kimmich and Leon Goretzka and Borussia Moenchengladbach’s Matthias Ginter also posted similar videos. The players did not specify what form the donation would take, but they directed their followers to the online platform “Wir Helfen”, which aims to coordinate volunteers across Germany during the crisis. “There was very quick agreement on the fact that we wanted to make a gesture as a team,” said national team director Oliver Bierhoff at a German Football Association (DFB) press conference on Wednesday. He said that Manchester City star Ilkay Gundogan, Real Madrid’s Toni Kroos and Barcelona goalkeeper Marc-Andre ter Stegen were also among those who came up with the idea. Meanwhile, national team coach Joachim Loew called for people to change their behaviour after the crisis. “The world is experiencing a collective burnout” he said via video link from his home in Freiburg. “The Earth seems to be defending itself against mankind, which always thinks it can do everything and knows everything,” said Loew.
A small group of Greensburg Track and Field members traveled to Upland Friday evening to compete in the Taylor HSR Qualifying meet. The evening started with Brenner Hanna winning the 3200m with a new Indoor Personal Record time of 11:38.99 which also sets a new Indoor School Record.Hanna also competed with teammates Emily Mangels, Sophie Nobbe, and Emma Wilmer in the 3200m Relay placing 3rd in 11:18.72.The Boys 3200m and Distance Medley Relay teams of Sawyer Sanders, Jonathon Ralston, Andrew Johnson and Hunter Butz also competed at Taylor University Friday night. The 4 x 800 team placed 5th in 9:24.47 and the DMR placed 7th in 12:57.31. Long Jumper Daimon Austin also competed and earned 8th place with a 19’8.75 leap.Based on current state standings the Pirates Track and Field Teams will have multiple competitors in the Hoosier State Relays, often referred to as the Indoor State Meet, next Saturday at Indiana University. Individually Lily Grimes punched her ticket to Indoor State earlier this month and will be competing in shot put while Brenner Hanna has qualified in the 3200m race. The Girls 3200m Relay team and the Girls DMR team including Hanna as well as Emily Mangels, Emma Hatton, Emma Wilmer, and Sophie Nobbe will also be racing at the Indoor State Meet. From the boys team Daimon Austin qualified with his 20’2″ leap at Wabash last weekend and will be competing in long jump at HSR at IU. Other Pirate individual athletes and relay teams may have a chance to participate in HSR too if other competitors from across the state choose to scratch out of an event.Courtesy of Pirates Coach Katina Tekulve.
United gave Di Maria permission to speak to PSG after agreeing a 63million euro (£44.3million) fee with the big-spending French club. United signed Di Maria from Real Madrid for £59.7million last summer, but after an encouraging start his form dipped drastically and he only started one of the final 10 games of last season. The former Real Madrid winger was left unsettled after an attempted burglary on his Cheshire home in February. Since then, the 27-year-old and his family have been living in a city-centre apartment in Manchester owned by former United defender Phil Neville. Di Maria said as recently as June that he wanted to stay at United, but it became apparent that he had his heart set on a move to the French capital in the last couple of weeks. The Argentinian was due to report for duty during the second leg of United’s pre-season tour of the United States on July 25, but failed to show. After United’s 2-0 defeat to PSG in Chicago on Thursday, Laurent Blanc said both clubs were “close” to striking a deal for the former Benfica player. ”Manchester United and PSG are two big clubs and negotiations can be difficult but we are close to the end,” the PSG coach said. Press Association Angel di Maria looks set to have a medical with Paris St Germain over the next 24 hours after Manchester United agreed to sell the midfielder to the French club for 63million euros. United manager Louis van Gaal claimed at the time that he had no idea where his star midfielder was. ”I don’t know where he is,” the United boss said. ”You can ask that every week but I don’t answer that question.” Van Gaal is expected to move quickly to sign a replacement for Di Maria. The Dutchman is interested in Barcelona forward Pedro, who was frustrated by his lack of game time at the Nou Camp last season. Press Association Sport understands Di Maria is due to hold talks with PSG officials in Doha on Sunday and is expected to undergo a medical with the French champions. If all goes to plan, he could sign for PSG as early as Monday.
Croatia Coach Zlatko Dalic has sent striker Nikola Kalinic home from the World Cup in disgrace.The Vatreni won their opening match on Saturday night, defeating Nigeria 2-0.Kalinic, the AC Milan striker who once upon a time represented Blackburn Rovers, was a substitute during the encounter. It was the fourth successive international fixture where he had been left on the bench.But asked to come on in the 85th minute, Kalinic complained of a back problem and refused to enter the fray – something which didnâ€™t convince his manager.Marko Pjaca, nominally a wide player, came on instead and Kalinic’s subsequent exit means Croatia have just Mario Mandzukic left within their squad as an out-and-out No.9.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram