Welsh LGPS pool gears up for third party operator search

first_imgWelsh local government pension schemes (LGPS) are set to launch a tender for a third-party provider for a tax-transparent fund to house the emerging £12.8bn (€17.4bn) asset pool.The eight* pension funds plan to select an outside company to provide the Authorised Contractual Scheme (ACS), but have not ruled out in future “designing and building” their own regulated operator.The formal decision to appoint a third party operator was originally taken by the Welsh funds in September 2015, and was “revisited and re-confirmed” by the Wales Pool earlier this year, according to the pooling proposal the group submitted to the UK government in July, as per the deadline set by the Department for Communities and Local Government (DCLG).The local authorities administering the schemes are currently considering the scope and specification of the services that will be required of the third party operator, and will decide on this as part of the selection process. It has for the time being informed the market of its intentions, publishing a prior information notice on government procurement portals to help identify potential candidates, and gather further details on the services it should require from operators. In its July submission to the government, the pool stated that the operator will be responsible for managing and operating the asset pool, including selecting and contracting with investment managers for the funds in which the assets of the eight participating schemes will be invested.However, the pool said it anticipates working closely with the operator of the ACS – a collective, tax transparent investment vehicle – and the sub-investment funds.The eight pension funds participating in the pool have £12.8bn of assets between them, as at March 2015. They aim to hold 95% of their assets within the pool by April 2021, and to have pooled all their assets by April 2030.The funds have already appointed a single asset manager for their passively managed equity and bond holdings, having in April announced the selection of BlackRock following a joint procurement exercise.The London CIV, comprising all of the capital’s LGPS, appointed Northern Trust as its ACS provider in January 2015.*The eight schemes (and their administering authorities): Cardiff and Vale of Glamorgan Pension Fund (Cardiff), City and County of Swansea Pension Fund, Clwyd Pension Fund (Flintshire), Dyfed Pension Fund (Carmarthenshire), Greater Gwent Pension Fund (Torfaen), Gwynedd Pension Fund, Powys Pension Fund and Rhondda Cynon Taf Pension Fund.last_img read more

Moaning is pointless – Martinez

first_img The Football Association has decided not to take any further action against Monk having asked him “for his observations” after he launched a post-match tirade against Oliver, Moses and Riley, who he is set to meet this week. Monk was left fuming again on Tuesday by a red card for Swansea defender Federico Fernandez – which the Welsh club have subsequently appealed – in a 2-1 Capital One Cup loss at Liverpool, although he did say while complaining after the game: “What is the point?” And when asked on Thursday if he thought moaning about referees’ decisions got you anywhere, Martinez, whose side host Swansea in the Premier League on Saturday, said: “I think it makes you feel better, but I don’t think it gets you anything at all. “Football is a game of errors, and sometimes you get those errors in your favour or against you, and that is part of the game.” In his comments after the Stoke match, Monk accused Riley of “poor leadership”. But on his own experience of Riley, Martinez said: “Mike is always there to cope with any sort of enquiries and I’ve seen a real professional side from him.” The Spaniard – who both played alongside Monk and managed him at Swansea – added: “I’ve never, ever seen a team that always get bad decisions, or that always gets good ones. “In general, everything levels up over the course of a season, and we are quite fortunate with our refereeing standards in our leagues – we shouldn’t lose sight of that. Press Association Martinez has also defended Professional Game Match Officials Limited general manager Mike Riley and the standard of refereeing in English football, describing it as “very strong”. Monk has made headlines of late with some forthright views on decisions against his team, most notably Michael Oliver’s call to award Stoke a penalty when Victor Moses went to ground in the Swans’ 2-1 Barclays Premier League defeat at the Britannia Stadium on October 19. “I’m looking at other leagues around the world and they would love to have the standards we have here. I think the level of our refereeing system here is very strong.” Ninth-placed Everton go into Saturday’s clash against sixth-placed Swansea with their season starting to come together results-wise after a shaky start to the campaign, and their veteran frontman Samuel Eto’o is in fine form. The Toffees have lost just one of their last six games in all competitions, and last weekend’s 3-1 win at Burnley made it back-to-back top-flight victories for the first time this term. Eto’o scored twice in that match, has netted three times in his last four appearances and has a tally of four goals in total since joining the Merseysiders over the summer. Fellow striker Romelu Lukaku – also a scorer against Burnley, and with four goals this season – has spoken of feeling “blessed” to be working with the 33-year-old Cameroonian. And Martinez said of Eto’o: “To have Samuel at our football club is like a gift from the footballing gods. “It is important we give him the right amount of playing time. “But Samuel’s performance on Sunday, and every role he has had so far, has been of a real high standard and I’m really excited to see how well he can adapt in the second half of the season. “His experience and know-how have already been very important – in Europe, for example. But with the finishes against Burnley, it looked like the old good times of Samuel Eto’o.” Martinez said the knocks Lukaku sustained against Burnley and midfielder Darron Gibson picked up in training should not affect their availability for Saturday. Winger Kevin Mirallas (hamstring) and defender John Stones (ankle) remain out of contention, while full-back Bryan Oviedo and forward Arouna Kone are set to play in a “practice” game next week as they continue to work their way towards first-team action. Everton boss Roberto Martinez has stressed in the wake of Swansea counterpart Garry Monk’s recent comments on referees that there is no point moaning about decisions. last_img read more

Clippers add Moe Harkless as part of 4-team trade sending Jimmy Butler to Miami

first_img What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 Once the trade was reported, Harkless took to Twitter looking to record his first assist for his new team: “Anybody got kawhi number??” The Clippers already hold Miami’s 2021 first-round pick, which they acquired in the Tobias Harris trade with Philadelphia in February.Miami’s initial multi-team sign-and-trade attempt for Butler reportedly included the Dallas Mavericks, who were said to have sought to acquire guard Goran Dragic, but that deal fell through Sunday.Related Articles Last season for the Blazers, Harkless averaged 7.7 points per game and shot 27.5 percent from behind the 3-point line – after shooting 41.5 percent the previous season. Newsroom GuidelinesNews TipsContact UsReport an Error Clippers vs. Mavericks Game 5 playoff updates from NBA beat reporters center_img Kristaps Porzingis ruled out as Clippers, Mavericks set for Game 5; Follow for game updates The Clippers have acquired Moe Harkless and a protected 2023 first-round draft pick as part of the four-team trade that will allow the Miami Heat to (finally) acquire All-Star guard Jimmy Butler, ESPN reported Monday.The Clippers will take on Harkless’ $11 million expiring contract and for their troubles gain Miami’s pick, which will help replenish the Clippers’ draft stockpile that was lightened some when they traded a protected 2020 first-round pick to the Brooklyn Nets to nab 21-year-old center Mfiondu Kabengele with the 27th pick in the NBA Draft.Miami reportedly will sign Butler to a four-year, $142 million contract. The rest of the deal: Miami also will send center Hassan Whiteside to the Portland Trail Blazers in exchange for Meyers Leonard. And the Heat are trading guard Josh Richardson to the Philadelphia 76ers. It’s all to secure the salary cap flexibility needed to complete the sign-and-trade deal with the 76ers for Butler, per reports.The Clippers still have the max-contract salary space to sign free agent superstar Kawhi Leonard. Harkless – a versatile defender and New York City native who has represented the Puerto Rican national team – will be a starting-caliber forward who conceivably would fit with Kawhi Leonard. For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory Clippers hope they can play to their capabilities, quell Mavericks’ momentum last_img read more

Region 2 trench cleaners on the breadline

first_img…as NDIA takes away contractsTrench cleaners in Region Two (Pomeroon-Supenaam) complained bitterly to the Regional Democratic Council (RDC) at the monthly statutory meeting held on Tuesday after losing their contracts with the Region.The RDC facilitated a meeting with the affected trench cleaners to hear their plightSome of the contractors meeting with the RDC on Tuesdayafter their contracts were not renewed. According to some of the cleaners, they had been maintaining the trenches in the Region for as long as 10 years without many problems and suddenly they got instructions from the Drainage and Irrigation Department of the Region to ceased work.Some of the trench cleaners complained that when they first received the contract some of the trenches were in very bad condition and they worked for as low as $6, $7, and $8 dollars per rod. However, one cleaner has told the RDC that now the hard work has been done, the contract has been taken away from them and given to close friends of high officials within the Drainage and Irrigation Department for a lucrative amount of $200 per rod. Regional Chairman Devanand Ramdatt immediately called on Councillors to vote for an immediate investigation and to put a hold on all new trench cleaning contracts within the Region. As such, with the support of both sides of the RDC, a vote was moved for the investigation to be launched.last_img read more