Environment Agency Pension Fund drops currency hedge

first_imgAccording to the active fund’s annual report, it decided to wind down its hedging programme over the course of the last financial year following questions over its effectiveness in reducing equity risk.“Potentially more effective approaches to managing and reducing risks are currently under review,” the report added.Until the end of the 2012-13 financial year, the EAPF hedged well over half of its £1bn non-sterling exposure, leaving only £387m in assets unhedged.The fund also calculated that its foreign exchange volatility stood at 13%, resulting in a potential £88.9m change in the value of its current overseas listed equity, a £41.6m change in the pooled equity holdings and a £9.8m change in overseas private equity.The EAPF also revealed that it was close to meeting its 25% target for exposure to what it regarded as the sustainable and green economy, noting that the £558m exposure at the end of March meant 24% of assets were allocated to the strategy.It added that, of the 24%, nearly half was invested in firms with more than 20% of revenues from energy efficiency or alternative energy projects, as well as waste water treatment or public transport.“A key part of our progress to meet our target was the allocation of £250m to real assets covering real estate, infrastructure, forestry and agricultural land to Townsend Group,” it said.“The mandate places a high priority on long-term responsible investments that meet our financial targets, with a preference to invest positively in sustainable real assets such as energy efficient buildings, renewable energy projects, public transport, water treatment facilities, eco-friendly farming and sustainable forestry.”However, it noted that its attempts to monitor the environmental impact of its holdings had revealed the recent shift towards clean and sustainable technologies had increased its environmental footprint, resulting in the active equity holdings exceeding the average MSCI All County World indices’ exposure.“Many of these companies are focusing on delivering sustainable solutions within their specific industries, whereby the environmental benefits … will be realised in their use downstream,” the fund said.,WebsitesWe are not responsible for the content of external sitesEnvironment Agency Pension Fund’s annual report The Environment Agency Pension Fund (EAPF) has stopped hedging its overseas currency exposure completely, estimating that changes in exchange rates are unlikely to trigger more than a 13% shift in asset value.The fund said it returned 8.4% over the course of the last year, below its 14.2% return in 2013.However, the results nevertheless saw funding within the EAPF’s £2.3bn (€2.9bn) active fund increase to 99%.It has recently implemented a new investment strategy that seeks “maximum value […] while minimising risk”.last_img read more

Yarie, Raddant return to Shawano winner’s circle

first_imgBy Scott OwenSHAWANO, Wis. (June 9) – Marcus Yarie and Kyle Raddant made return trips to the winner’s circle at Shawano Speedway following IMCA Modified and Karl Chevrolet Northern SportMod main events, respectively.Chucky Forstner and Jerry Muenster battled for the lead on the opening lap of the Modified main.  Forstner held the lead until lap 10 when rookie Brekken Kleinschmidt took to the outside of the track and grabbed the front spot.Yarie followed Kleinschmidt around Forstner into second, then powered his way past Klein­schmidt for the lead on the following lap.  Wyatt Block soon passed Kleinschmidt to grab se­cond.  In the end it was Yarie for the win, chased by Block, Kleinschmidt, Lance Arneson, and Jerry Wilinski. Kaden Besaw led the opening lap of the Northern SportMod feature before giving way to Rad­dant, who then took to the high line of the track and looked to ride off into the sunset.Behind Raddant, Bryce Clements, Cole Magnin and Lucas Lamberies jockeyed for posi­tion.  Magnin’s night ended though after getting into the outside wall.  Lamberies raced to second but was never able to offer a serious challenge for the lead; 17th starting Jason Jach finished third, Kevin Bethke fourth and Jordan Bartz fifth.Travis Van Straten scored his second straight and third overall IMCA Sunoco Stock Car win.last_img read more

USC salvages weekend with walk-off victory

first_imgUSC men’s baseball started a new era this weekend under interim head coach Dan Hubbs, and until the bottom of the ninth in the third game of the opening series, the Trojans were off to a rough start.Strong start · In his college debut, freshman pitcher Kyle Twomey gave up three earned runs in 6.1 innings with four strikeouts and just one walk. — Ralf Cheung | Daily TrojanUSC (1-2) faced three different teams in their opening weekend series, losing two games on the road against Cal State Fullerton and Bakersfield.But the Trojans returned to Dedeaux Field to face Nebraska (0-4) in what began as an old-fashioned pitcher’s duel and ended in a thrilling 4-3 walk-off victory in USC’s home opener on Sunday afternoon.“Sunday is that day where you either sweep the series, win the series or salvage the series,” Hubbs said. “I thought we did a great job of salvaging the weekend.”Freshman pitcher Kyle Twomey took the mound for the Trojans in his first collegiate start and held his own in a game dominated early by starting pitching. USC took an early 1-0 lead in the second inning that lasted until the sixth, when Twomey surrendered three runs in his only rocky inning of the day.As it did for most of the opening series, the Trojan offense looked like it was about to come up short. The team was unable to score in consecutive innings with runners in scoring position and frequently fell victim to elusive timely hitting.In the bottom of the ninth, trailing the Huskers 3-2, the Trojans pieced together its best, and most clutch, offensive effort of the game. Freshman right fielder Vahn Bozoian and junior third baseman Kevin Swick tacked together a pair of hits, forcing Nebraska to intentionally walk the bases loaded. Sophomore catcher Garrett Stubbs tied the game with a sacrifice fly.The team is no stranger to walk-offs and senior infielder Adam Landecker said he was confident stepping up to the plate in a high-pressure situation.“When we came in for the bottom of the ninth, we knew we were going to win,” Landecker said.He sent the team home with a two-out walk-off single and helped the team notch its first victory.The win over Nebraska had added importance following the two tough losses that preceded it. On Saturday, Bakersfield took advantage of an inconsistent and inexperienced pitching staff and topped the Trojans, 9-4.Three of the five Trojan pitchers stepped into new positions Saturday: Sophomore right-hander Wyatt Strahan made his first career start and freshmen right-handers Shane Gonzalez and Kyle Davis both made their collegiate debuts for the Trojans. USC sent five pitchers to the mound and the staff collectively allowed eight hits and walked 10 batters.Offensively, the team struggled with plate discipline, striking out 11 times and walking only once.The poor showing against Bakersfield followed a strong effort in the team’s season-opening loss to  No. 22 Cal State Fullerton, in which the Trojans again struggled to muster any consistent hitting.The Titans kept the Trojan bats quiet for all but two innings, starting off the game with 4.2 hitless innings and closing the game with three more. USC only reached base in the fifth and sixth innings, with its first base runner coming off a two-out single by Swick to break up a no-hitter in the fifth inning. USC’s only runs came off the bat of junior shortstop James Roberts, who launched a two-run home run to left field with two outs in the sixth inning.Junior left-hander Bob Wheatley, who pitched four scoreless innings after surrendering a run in the first frame, gave up two go-ahead runs in the bottom of the sixth.Friday’s loss marks the first time in five seasons that the Trojans have dropped an opening game.Hubbs said Sunday that he’s focused on working with his young team and building confidence in his players, and freshmen such as Twomey are hoping to improve enough to keep the team’s momentum going.“I hope I can continue to just go out and get good starts,” Twomey said. “As long as I can give us a chance to win every time, I’ll be content.”A win against Loyola Marymount today would even their 1-2 record and give them a chance to bounce back.“If we can hold our heads just above water until we really get in our groove, I think we’ll be in good shape,” Hubbs said.USC was scheduled to play Loyola Marymount on Tuesday night, but the game was postponed because of impending rain and will be played this evening at Dedeaux Field at 6:00 p.m.Freshman pitcher Brent Wheatley, brother of Friday night starter Bobby Wheatley, will start on the mound for the Trojans in his collegiate debut.last_img read more

AFCON 2021 Qualifiers: São Tomé and Príncipe match will not be easy – Kwesi Appiah

first_imgCoach of the Black Stars of Ghana, James Kwesi Appiah has rubbished claims that Ghana’s match against São Tomé and Príncipe later today will be an easy game.São Tomé and Príncipe who are currently ranked 180th in the world are one of the lowest-placed teams in the qualifiers.They also lost 4-0 to Sudan in their opening qualifier leading to suggestions that the Black Stars could be set for a windfall against them.However, Kwesi Appiah believes that despite their low ranking, Sao Tome could still pose a threat to his side.“I don’t think it’s going to be an easy game. I don’t believe in what people think; that São Tomé does not have a good team.There are about eight or nine Portuguese players and so it is a game we have to take it seriously. We go there and give our best and come out victorious”.Kwesi Appiah acknowledged the efforts put together to help the Black Stars train at Madina in preparation for today’s game.“I would like to thank the management of this turf and everyone who made sure there is such a place for us to be able to train.We needed some other things like a third goal post and it was provided so I would like to thank everyone.Even for us to be able to train at this time with all the lights on and everything, I think it is really nice and has benefited us a lot”.The head coach believes that his side being able to train with the spectators around is important and should be encouraged.“We need to bring the players close to the people and once there is a pitch like this, we can help do this”.Kwesi Appiah added that Ghana’s win 2-0 win over South Africa last Thursday was a “good booster” ahead of the game with São Tomé and Príncipe.“I think it is important for every Ghanaian. The most important thing is the victory we accomplished and it is a good booster for our second game.I don’t normally rely on previous wins because once you finish with it, you concentrate on the match ahead of you”.The Black Stars will play against São Tomé and Príncipe on Monday at 1 pm.last_img read more

Drogba refused permission to leave Shanghai

first_imgDidier Drogba’s hopes of an immediate move to a European club from Shanghai Shenhua have been dashed by FIFA.The Ivory Coast international striker was being linked with a loan move to former club Chelsea after the Chinese Super League ended this month.The 34-year-old requested special permission to join another club outside the international transfer window to maintain his fitness levels aheadof the African Cup of Nations, which starts on 19 January in South Africa.However, FIFA upheld its rules in previous cases when making Major League Soccer players David Beckham, Thierry Henry and Landon Donovan wait until January to make loan moves.last_img read more

“Gravity” playing at the Wellington Regent Theater this weekend

first_imgRated: PG -13 – 1 hour, 31 minutes.Movie Synopsis: GRAVITY, directed by Oscar (R) nominee Alfonso Cuaron, stars Oscar (R) winners Sandra Bullock and George Clooney in a heart-pounding thriller that pulls you into the infinite and unforgiving realm of deep space. Bullock plays Dr. Ryan Stone, a brilliant medical engineer on her first shuttle mission, with veteran astronaut Matt Kowalsky (Clooney). But on a seemingly routine spacewalk, disaster strikes. The shuttle is destroyed, leaving Stone and Kowalsky completely alone. 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 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 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. There are no comments posted yet. Be the first one! 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 Rotten Tomatoes rating (movie critics collective approval ratings): 97%. Audience review: 88% approval.Movies ahead at Regent Theater:Also:Hang onto your Nuggets.Catching Fire. This week at the Regent Theater: “Gravity” (Movie trailer is below). When: Friday at 7 p.m. Saturday, 2 p.m and 7 p.m.; Sunday, 2 p.m. and 7 p.m.last_img read more

Pat Sullivan, former Auburn quarterback and Heisman Trophy winner, dies at 69

first_imgSullivan was a second-round NFL selection following his time at Auburn, playing for the Falcons from 1972-75 and the Redskins in 1976. He started his own business thereafter, returning to coaching in 1986 to join Pat Dye’s Auburn staff through 1991 as the Tigers’ quarterbacks coach. Following his coaching stint at Auburn, Sullivan served as TCU’s head coach from 1992-97, leading the Horned Frogs to a 24-42-1 record. He served as UAB’s offensive coordinator from 1999-06 and finished his career as Samford’s head coach from 2007-14. He led the Bulldogs to a 47-43 record. His final game was on the field at Jordan-Hare Stadium on Nov. 22, 2014 — a 31-7 loss to his alma mater.Sullivan continued to support the Tigers throughout his life and was on the committee that hired Gus Malzahn in 2013. Sullivan went a combined 6-4 as a player and coach against Alabama.He was diagnosed with oral cancer in 2003 while offensive coordinator for the Blazers. Pat Sullivan, Auburn’s former Heisman Trophy-winning quarterback, died in his sleep Saturday night, according to multiple reports. He was 69.Sullivan perhaps is best known for his playing career at Auburn, which netted him the program’s first ever Heisman. He arrived at Auburn in 1968 out of John Carroll High School (Birmingham, Ala.), and won the Heisman Trophy in 1971 as a senior. He completed 182 of 325 passes in his Heisman campaign for 2,262 passing yards and 21 touchdowns to 13 interceptions (adding two rushing touchdowns).last_img read more

Wellington Police Notes: Wednesday, Sept. 30, 2015

first_imgWellington Police notes for Wednesday, September 30, 2015:•1:09 a.m. Officers took a report of suspicious activity in the 400 block N. Olive, Wellington.•11:41 a.m. Officers investigated making a false information and theft by a known suspect in the 1400 block E. 16th, Wellington.•1:49 p.m. Officers took a report of suspicious activity in Wellington.•3:20 p.m. Non-Injury accident in the 500 block E. U.S. 160, Wellington involving vehicles operated by juvenile female, 17, Wellington and juvenile female, 17, Wellington.•3:23 p.m. Officers investigated a theft of services by a known suspect in the 1100 block E. Harvey, Wellington.•3:30 p.m. Juvenile female, 17, Wellington was issued a notice to appear for inattentive driving.•On Tuesday, Sept. 29, at 4 p.m. Officers assisted an outside agency in the 600 block N. F, Wellington.last_img read more

King calls impeachment inquiry unpatriotic, vicious

first_imgWASHINGTON — North-central Iowa congressman Steve King says the impeachment inquiry into President Donald Trump is vicious, unpatriotic and puts the constitution at risk by trying to unseat the president.  “ This is an appalling violation of the patriotism that should come from all of us. Each one of them took an oath of office too, and they are violating it if they think that this is a lineup of impeachable offenses.” King accuses House Democrats of undermining the Constitution.  “They are putting our Constitution at risk by trying to unseat a duly elected president of the United States through a vicious impeachment movement. It just came sooner than I expected, and I think it’s going to end up in a flop and there will be a price paid in the election box.”Iowa GOP chairman Jeff Kaufmann says Democrats are “delusional” and Kaufmann tweeted that first-term Congresswomen Cindy Axne and Abby Finkenauer are ignoring the wishes of voters. Trump won Iowa’s first and third congressional districts by four points in 2016.last_img read more

Griezmann double puts France into Euro final

first_imgMarseille, France | AFP | Antoine Griezmann scored twice Thursday as France beat world champions Germany 2-0 to seal a place in the Euro 2016 final against Portugal.Having converted a controversial first-half penalty for Bastian Schweinsteiger’s handball, Griezmann put the result beyond doubt with a sweetly struck second half shot.“We suffered but we knocked them out,” said French coach Didier Deschamps after the game in which Germany dominated possession.The victory in Marseille mean Les Bleus face Cristiano Ronaldo-led Portugal in Sunday’s final at the Stade de France.Griezmann is now the top scorer at the European Championship finals with six goals.France’s first win over Germany in their fifth meeting at major finals came out of a controversial penalty just before half-time.Italian referee Nicola Rizzoli’s took an eagle-eyed decision.Schweinsteiger conceded the penalty as replays showed his arm grazed the ball as he put his arms up while marking Patrice Evra from a corner.Germany’s stars crowded Rizzoli, furious with the decision. But it was a decisive blow from which the 2014 World Cup winners never recovered.With Mats Hummels suspended, plus Mario Gomez and Sami Khedira injured, Germany were forced into changes at the Stade Velodrome. Liverpool’s defensive midfielder Emre Can made his first start at Euro 2016, winning only his seventh cap, for Khedira alongside Bastian Schweinsteiger.Thomas Mueller started as striker for Gomez while Benedikt Hoewedes took Hummels place at centre-back alongside Jerome Boateng. France coach Didier Deschamps kept faith with the same starting side which beat Iceland 5-2 in the last eight, retaining Samuel Umtiti and Moussa Sissoko.Both sides were far from clinical in the opening exchanges with French and Germans alike guilty of spraying passes wide of their intended man.A weak Griezmann shot and a Dimitri Payet free-kick straight at Manuel Neuer were France’s best chances early on.At the other end, Germany were sloppy with a string of chances in front of goal while Schweinsteiger fired over from range.The world champions first showed signs tempers were flaring when Can picked up a 36th-minute booking for hauling Griezmann down.Then there was panic in the German defence moments later when Olivier Giroud broke clean away.Only a perfectly-timed tackle from the furiously back-peddling Benedikt Hoewedes blocked his shot.France were content to sit deep, letting Germany rule the midfield with Griezmann and Moussa Sissoko waiting to counter-attack with little success.The penalty swung the game.Mesut Ozil joined Schweinsteiger in picking up a booking by kicking the ball away while Mueller had to restrain a few of his German team-mates.Nevertheless, Griezmann showed a cool head by gratefully slamming his shot past Neuer in the second minute of added time.France led 1-0 at the break, even though Germany had 64 percent of the first-half possession and 11 attempts on goal to France’s six.The goal breathed life through the French team for the second-half as the Germans became ever more frustrated.With 25 minutes left, Germany coach Joachim Loew threw on Mario Goetze for Can in the hope the World Cup winner could again produce some magic.Germany’s problems were compounded as defender Jerome Boateng went off with injury with 61 minutes gone.Griezmann settled the matter when Paul Pogba’s cross from the left was cleared by Neuer into the Atletico Madrid stars path to fire home on 72 minutes.In a last gamble to avoid their first defeat at a finals since the Euro 2012 semi-finals, Loew switched winger Leroy Sane for Schweinsteiger with 10 minutes to go, but France held firm.Share on: WhatsApp Pages: 1 2last_img read more