Mercer starts master trust for UK DB schemes

first_imgInvestment consultant Mercer has launched its UK Mercer DB Master Trust, which offers defined benefit (DB) pension plan sponsors the potential for “enhanced governance and economies of scale to deliver better outcomes for members”, it said.Under the trust, Mercer will be responsible for providing all services including investment with fiduciary management, journey planning, actuarial services, covenant assessment, scheme management and administration, with trusteeship provided by independent professional trustees.The employer would maintain ultimate responsibility for the funding of the scheme, an announcement stated.This new solution adds to Mercer’s existing advisory and fiduciary offerings and ensures clients can access a full spectrum of approaches to select the best fit for their individual governance needs, it said. Benoit Hudon, leader of Mercer’s wealth business in the UK, said: “Managing employee pension schemes has become increasingly complex and many organisations suffer from time or cost constraints.”He said these challenges are “particularly acute” for smaller or mid-sized legacy DB schemes where often dedicated in-house expertise lacks, while access to best-in-class capabilities can be expensive.He added that the trust will “potentially reduce fees and improve outcomes”, while also giving members access to the largest administration of private sector pensions in the UK.The Mercer DB Master Trust has evolved from the Federated Pension Plan (FPP), an existing and long-established master trust initially set up by Jardine Lloyd Thompson that currently has around £260m (€280m) of assets and 73 participating employers.Additionally, Independent Trustee Services (ITS) and PTL have been appointed as additional professional trustees to work alongside PAN Trustees, which has been FPP’s trustee for more than 15 years.To read the digital edition of IPE’s latest magazine click here.last_img read more

Iloilo province’s ASF pork ban now covers Mindanao, too

first_imgOn Feb. 5 he issued Executive OrderNo. 027-A expanding the existing temporary ban (Executive Order No. 027 issuedon Jan. 20, 2020) on live swine, pork, pork products and byproducts coveringLuzon and the countries of Latvia, Poland, Romania, Russia, Ukraine,Luxembourg, Belgium, Bulgaria, Moldova, Czech Republic, South Africa, Zambia,Hong Kong, Mongolia, Vietnam, Cambodia, Myanmar, Lao peoples Republic, SouthKorea, and China. “Considering damo kita pork products and live animals nga nagahalin didto sa Mindanaoand naga-agi sa Iloilo Airportand Dumangas seaport, nakita ni Governor nga may threat gid kita sa ASF, amo na gin-entireMindanao ang ban,” said Tabuada. Despite the ban, Iloilo has notexperienced a shortage in pork, pork products and by-products as there are lotsof local suppliers and hog raisers./PN ASF is a highly contagious hemorrhagicviral disease that spreads rapidly in pigs. Since there is no known vaccineagainst it yet – sick pigs die in two to 10 days – ASF is destructive to theswine industry. According to Dr. Darel Tabuada, Iloiloprovince’s supervising veterinarian, the Department of Agriculture confirmed thatthe towns of Don Marcelino and Maita in Davao Occidental have ASF cases. ILOILO – The provincial government hasexpanded its ban on live swine, pork, pork products and byproducts to cover thewhole of Mindanao.center_img The goal, according to Gov. ArthurDefensor Jr., is to protect Iloilo’s swine industry from the African swinefever (ASF) which has hit Mindanao’s swine. The province of Davao Occidental whichis part of Region 11 declared a state of calamity, with up to 10,000 hogsaffected by ASF. In fact, he added, last month theprovincial government ordered tighter monitoring at the Iloilo Airport andDumangas seaport in coordination with the Bureau of Animal Industry. Last week, the city government ofIloilo also expanded its swine ban coverage to include the Davao Region (Region11).last_img read more

Adams warning for Gunners

first_imgFormer Arsenal defender Tony Adams would love to succeed Arsene Wenger as Gunners manager, but insists the team must be rebuilt if they are to challenge for silverware. “One hundred per cent I’d like to be Arsenal manager,” Adams told Zapsportz.com “Of course my heart says ‘yes, yes, yes’, but my head says ‘can I win with this current team?’ My answer is no, I can’t and I am not sure anyone can. “I would want assurances if I walk through the door, those assurances meaning I’m given the go ahead to build a new team. “I would get my teeth into building a new team but to achieve that, you would need to spend. “To keep hitting the top four and qualifying for the Champions League is great, and Arsene has done such a great job, but there is going to come a day, and that won’t be far away, when Arsene leaves. “For a long time he has been a one-man band, but that won’t happen again. The next man appointed will be the head coach, not the manager.” Adams believes one of Arsenal’s greatest failings is a wage structure that pays top players too little and average players too much and also questions his tactics. “I know Arsene would not spend £25million on buying Bayern’s goalkeeper Manuel Neuer for example, no matter how much he might need a new keeper,” Adams said. “I think that is a great policy, but the club needs to restructure its wages spend, that is a vastly different matter. “The club are paying in excess of £150million on players’ wages but there have been a lot of average players on £50,000 a week when the big teams now need four or five players on a lot of money. “Arsenal do not attract those big players because of their wages structure.” Adams added: “Also, Arsene plays too open. I’ve more of a defensive eye. That’s not to say I would be defensive, but the club have bought too many players like Santi Cazorla and Tomas Rosicky and not enough Patrick Vieira types.” Wenger has come under renewed criticism for his failure to make any significant signings during the transfer window with the Arsenal Supporters’ Trust declaring it would be currently “inappropriate” to offer him a new contract. Adams, who made 504 appearances for Arsenal between 1983 and 2002, believes that whoever replaces Wenger will be given a different role to the Frenchman. Press Associationlast_img read more

Syracuse erases last season’s painful memories with comeback win over Missouri, becomes bowl eligible

first_img Related Stories BOWLED OVER: Syracuse stuns Missouri with late touchdown, clinches bowl eligibility for 2nd time in 3 yearsGallery: Syracuse gains bowl eligibility with 31-27 win at Missouri COLUMBIA, Mo. — This year, there was no free fall. Only resilience.As Syracuse flooded Faurot Field inside Memorial Stadium late Saturday night, the joy of a bowl-clinching upset was made sweeter by last season’s failures. Five straight losses, increasingly poor performances, a despair-filled trip from the top of the Big East to bowl-less irrelevance.It spelled turmoil within a program only one year removed from its first bowl appearance since 2004, and it pained a coach who blamed himself for every miscue.“The last half of last season left a bad taste in a lot of young guys’ mouths and a lot of upcoming seniors, which is guys like me,” Syracuse defensive tackle Deon Goggins said. “We never wanted to be in that position again.”Saturday’s win ensured that Goggins, a senior, never will be.AdvertisementThis is placeholder textRelying on a never-say-die attitude that was absent one season ago, Syracuse (6-5, 4-2 Big East) erased a double-digit deficit on Saturday on the road against Missouri (5-6, 2-5 Southeastern Conference) to earn its sixth win and become bowl eligible for the first time since 2010. The 31-27 win, which came on a last-second scoring drive and stunned the crowd of 63,045, was the Orange’s fourth win in its last five games at a point in time where it imploded last year.Instead of the disheartened and agitated Marrone from 2011, Saturday’s version of the Syracuse head coach was pleased and relieved. “If I have to start off with a statement — oof, what a game,” Marrone said, as he smiled throughout much of his postgame press conference.He’s transformed a team that was once 2-4 overall into a legitimate contender in the Big East, and by beating the Tigers he guided the Orange to its first win over a team from the SEC since September of 2001.“I can’t tell you how proud I am of these kids,” Marrone said. “The leadership, the stuff on the sideline when you look in their eyes, the confidence that’s building in them.”And on Saturday, that confidence began to build after halftime when the Syracuse defense finally slowed down Missouri and quarterback James Franklin. The Tigers had stormed out of the gates in the first quarter, surging to a 17-3 lead by slicing the Orange secondary for chunks of yards at a time.But a late touchdown drive by Syracuse closed the gap to seven before halftime, and the tweaks made by defensive coordinator Scott Shafer yielded zero third-quarter points.“Coach Shafer is a great defensive coordinator that is great at getting our adjustments down so we can go out there and just play,” Goggins said. “And that’s what you saw in the second half, our adjustments and just going out in the second half and playing.”By the 14-minute mark of the fourth quarter, the Orange had rallied back to tie the game at 17-17. And after the Tigers marched downfield for another touchdown, Syracuse matched them once again. Running back Jerome Smith sprinted eight yards up the middle for the tying score, which elicited an emphatic fist pump from offensive line coach Greg Adkins on the sideline.Despite a hostile environment and an opponent with arguably more individual talent, the Orange responded not once, but twice in a 10-minute span.“That comes with just leadership, great leadership,” SU safety Shamarko Thomas said. “I feel like last year was different from this year. We have great leaders in Ryan Nassib, Alec Lemon, Justin Pugh and Siriki Diabate and me. And it just came out and showed.”So on a third-and-1 play with less than two minutes remaining, Thomas and Diabate anchored the biggest defensive stop of the game. With the Tigers already in field goal range, a first down would have allowed them to run down the clock and attempt a game-winning field goal. But the Orange stuffed Missouri running back Kendial Lawrence for a three-yard loss, forcing a field goal by Andrew Baggett.It gave the ball to Nassib with 1:43 remaining and an opportunity to display the fortitude that Syracuse lacked over the final half of 2011. Seven plays later, the Orange found the end zone, with Lemon hauling in a 17-yard score to secure the win.“It’s incredible,” Lemon said. “This is all the hard work that we put in to go to a bowl game.”It’s work that many of the players have admitted was neglected last season. A blowout win over West Virginia midway through the year prompted relaxation, they said, and shifted eyes to the bigger picture instead of the immediate future.Saturday night undid all that, erasing painful memories and ensuring the Orange will have a 13th game. It allowed Marrone to smile and Thomas to beam and offensive coordinator Nathaniel Hackett to gush.But more important than that it allowed Cameron Lynch to roll along the turf — imitating a certain type of ball — once the final Missouri pass was intercepted.Said Lynch: “That was bowling, baby.” Comments Facebook Twitter Google+center_img Published on November 18, 2012 at 8:36 am Contact Michael: mjcohe02@syr.edu | @Michael_Cohen13last_img read more

Out of the national spotlight, California guard Crabbe quietly puts together sensational season

first_imgSAN JOSE, Calif. — Allen Crabbe became most famous for a viral video in which his coach shoved him in the chest.The player who would soon be named Pac-12 Player of the Year, the one who averaged 18.7 points and 6.1 rebounds per game as a guard, was known more for a heat-of-the-moment exchange with Mike Montgomery than he was for those gaudy numbers.The YouTube page views grew exponentially, numbering in the hundreds of thousands, which only detracted from one of the nation’s best — and least-known — players.“Crabbe is a tremendous shooter,” Syracuse head coach Jim Boeheim said. “One of the best shooters in the country.”So while he is most commonly recognized for being on the receiving end of Montgomery’s anger-laced outburst in mid-February, Syracuse fans and basketball fans around the country will soon become familiar with his game. Crabbe is the leading scorer and third-leading rebounder for the Golden Bears, who advanced to the Round of 32 with a 64-61 win over fifth-seeded UNLV, and whether or not the Orange can contain him will be a major barometer indicating SU’s chances of reaching the Sweet 16.AdvertisementThis is placeholder textCrabbe, a 6-foot-6 guard whose lanky frame resembles that of Michael Carter-Williams, arrived in Berkeley, Calif., three years ago as a top-60 recruit, according to ESPN. He was known as a lethal shooter, a player whose stroke was sweet but who needed to expand his game in other areas.He made at least two 3-pointers per game in both his freshman and sophomore seasons, relying on outside shooting for the majority of his points. He was named the Pac-10 Freshman of the Year in 2011 and was a first team All-Pac-12 selection as a sophomore.Slowly but surely his game grew. He worked diligently on dribble penetration, understanding that any time he could slice through the opposing defense more opportunities would open up for his teammates. His scoring average jumped from 13.4 points per game as a freshman to 15.2 points per game as a sophomore.This year it rose to 18.7.“He scores the ball so easily, so effortlessly,” teammate Justin Cobbs said. “He’s working on being a complete player. I think he’s a great slasher. He’s trying to get to the basket and getting a lot of assists, getting his teammates involved.”Crabbe did just that in Thursday’s win over UNLV, chipping in four assists to go along with his 19 points and nine rebounds. It was his 10th game this season with four or more assists after just seven such games all of last year.“It’s been a nice progression for him,” Montgomery said.But Crabbe remains a shooter at heart, and he admitted that his eyes lit up a bit when he saw there was an opportunity to play Syracuse, a team that runs exclusively a 2-3 zone defense, on Saturday. He made three or more 3-pointers in a game 10 times this season, including a game with five 3s in a win over Southern California.It’s something the Syracuse players are aware of, and Carter-Williams mentioned the ability of California’s guards to shoot the ball just minutes after defeating Montana.The question becomes whether or not the Golden Bears can move the ball well enough to create open looks. Though Crabbe is excited to play against the zone, he made sure to emphasize that the one played by Syracuse is atypical of many others around the country.Boeheim’s ability to recruit long, athletic wings — no player on SU’s back line is smaller than 6 feet, 8 inches tall — creates the illusion of open shots that wind up being easily contested because of the length.“You’ve got to find the open shots they leave open in the zone,” Crabbe said. “We’ve got to be patient on our offense and just execute well. We can’t force things against them because they’ll take advantage of it.”Triche said he had not seen any film on California, nor had he watched them play during the regular season. That tends to be the case for talented players on the west coast, flying under the radar while the eastern seaboard sleeps.But Saturday, Crabbe will become a household name in a new part of the country, invading the east coast at 9:40 p.m. EST.  And if he plays like he has all season, those new viewers are likely to be impressed.Said Cobbs: “Allen is the complete basketball player.” Comments Facebook Twitter Google+ Published on March 22, 2013 at 9:12 pm Contact Michael: mjcohe02@syr.edu | @Michael_Cohen13last_img read more

FIFA Bans Ugandan Official over 2014 World Cup Ticket Resales

first_imgFIFA has banned the president of Uganda’s soccer federation for two months over the resale of tickets for the 2014 World Cup.FIFA said its ethics judges ratified a plea bargain by Moses Magogo, an elected member of the Confederation of African Football executive committee. He also agreed to pay a 10,000 Swiss francs ($10,075) fine.Magogo was alleged to have profited from rule-breaking resales among an allocation of 177 tickets FIFA thought were for fans in Uganda. A formal complaint in Uganda alleged “American and South African agents sold tickets for games in Brazil.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more