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Pension funds’ liquidity problems are getting worse, says Northern Trust

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first_imgNorthern Trust’s white paper – titled “Cash: an Asset in Adolescence” – detailed several reasons for asset owners’ difficulties.Firstly investors, such as pension funds, have increased their allocation to cash because they need to support their evolving investment strategies, but in the current low interest rate environment they can expect a zero rate of return, which can become negative after inflation.Secondly, the firm said, regulations such as the European Markets Infrastructure Regulation – which requires over-the-counter derivatives to be cleared through a central clearing counterparty — have unintentionally posed liquidity challenges.”Cash is an important investment-enabler — pension funds cannot earn from it but cannot invest without it,” Austin said.However, pension funds could no longer be passive about cash as the available liquidity in the market tightened and returns on cash positions were reduced, he said.Northern Trust said that in order to start to tackle what it termed the “liquidity conundrum”, pension funds should understand investment portfolios from a liquidity perspective by maintaining a “liquidity ladder” and considering future calls on cash.They should also model and stress test their asset-liquidity profiles to be aware of the worst-case scenario and potential sources of liquidity in normal and stressed markets.As well as this, pension funds should determine optimal short and long cash positions and arrangements.Penelope Biggs, head of the Institutional Investor Group for Europe, the Middle East and Africa at Northern Trust, said: “We believe that understanding a portfolio from the point of view of how liquid it might be at any point in time is critical, particularly as the cost of cash liquidity will only continue to increase.” Liquidity problems are getting worse for asset owners, and particularly for pension funds, due to low interest rates and new regulation, Northern Trust has warned.The US financial services firm said in a new white paper that asset owners should “future-proof” their investment policies to make sure they had a balance of security, liquidity yield, and operating efficiency.Mark Austin of Northern Trust’s Institutional Investor Group said: “While the low interest rate environment and associated market dynamics, as well as the regulatory changes focused around liquidity, have affected many institutional investors differently, we see pension funds coming under the greatest pressure as a result of a confluence of these factors.” Finding and maintaining appropriate liquidity was vitally important for most defined benefit schemes closed to new members and in net decumulation, Austin said. This was becoming more and more challenging with many schemes across Europe finding it very hard to balance liquidity while creating returns, he added.last_img read more

Bacolod rolls out P160-M extra fund to fight COVID-19

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first_imgThe additional fund will be used tobuy more personal protective equipment, test kits, welfare goods, and otherneeds. The city has now eighth COVID-19 caseafter health authorities confirmed a new infected patient on Tuesday night. BACOLOD City – The local government unit here is allotting a supplementalfund worth P160 million to bolster the city’s battle against coronavirusdisease 2019 (COVID-19). The P20-million budget for theestablishment of a microbiology laboratory testing facility at the CorazonLocsin Montelibano Memorial Regional Hospital is also included in theallocation. The amount is equivalent to theone-month Internal Revenue Allotment share given to Bacolod to boost itscapacity to respond to the COVID-19 crisis. The allocation is under thesupplemental investment program recently approved by the City DevelopmentCouncil (CDC), chaired by Mayor Evelio Leonardia.center_img “I was informed by the City HealthOffice that one patient has been declared positive, which brings the total toeight. We have to continue our campaign for awareness, cooperation, and supportto avoid the spread of the disease,” Leonardia said. Of the P160 million, a total of P11-million will be sourced from the financial assistance allocated by thenational government to Bacolod through the “Bayanihan Grant to Cities andMunicipalities.” The Supplemental Investment Programwas endorsed by the CDC to the City Council on Wednesday. The rest of the supplemental fund willcome from the savings of the city government. (With a report form PNA/PN)last_img read more

Area Boys Baseball Sectional Scores

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first_imgArea Boys Baseball Sectional Scores.Wednesday (5-28)Class 1A @ Shawe Memorial.Jac-Cen-Del 11     South Decatur 1Oldenburg Academy 13     Shawe Memorial 0Class 2A @ South Ripley.North Decatur 5     Switzerland County 3Austin 1     South Ripley 0Class 3A @ Lawrenceburg.Lawrenceburg 8     Greensburg 4Class 4A @ Bloomington North.Columbus East 5     Columbus North 4Courtesy of the IHSAA.last_img

Dobbie makes permanent Palace move

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first_imgCrystal Palace have completed the permanent signing of midfielder Stephen Dobbie from Brighton for an undisclosed fee. The 30-year-old only moved to Brighton in January but spent the last four months of the season on loan at Selhurst Park and has now made the switch after penning a two-year deal with the Barclays Premier League newcomers. Dobbie has experience of playing in the Premier League with Swansea and worked under current Palace boss Ian Holloway during two loan spells at Blackpool. Press Associationcenter_img Dobbie becomes Holloway’s first signing of the summer and the former Hibs and St Johnstone midfielder, who started his career as a youngster at Rangers, is relishing another opportunity at top-flight football. “I enjoyed my football last season here and I like to think I had a part in helping the team getting promoted,” he told Palace Player. “But it’s a new season now, that’s in the past. We’ve just got to get ready in pre-season and get ready for that first game. “It is every player’s dream, especially in the Championship – they want to be playing in the Premier League. You go away and have a nice holiday, but still in the back of your mind, you’ve only got four weeks off, so maybe in a week and a half, you’re going to know who you’re playing in that first game. “Then you start to look through all the other fixtures. I think we’ve got Man United, Liverpool and Chelsea all away in our first games against them, so the second part of the season will be exciting, especially for the fans.” Having played under Holloway in the past, Dobbie is also looking forward to continuing their strong working relationship. “Obviously I’ve worked with the gaffer a number of times and there was no problem with that,” he said. “A lot of people don’t see the side to the gaffer that we do – on the pitch, on the training field, on the bus and in the changing room. “We know what he’s like and we know how good he is tactically. You just have to look at the play-off semi-finals and the final, how the boys played the way he wanted and we got the right result. I’m sure he’ll be buzzing and raring to go.” last_img read more

Koala rescued from Australian brushfire in viral video dies

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first_imgWarning: Explicit VideoThe Koala, who received attention worldwide after a video emerged of a woman rescuing him from an Australia bushfire, has died.In recent weeks, deadly bushfires have spread throughout eastern Australia.Wildlife officials estimated the blazes had killed hundreds of koalas in the New South Wales state alone.On Nov. 20, a video of a woman walking into a bushfire to save a severely burnt koala went viral.The Koala, named Ellenborough Lewis, was found on a road before it was given water and wrapped in a blanket and then taken to the nearby Port Macquarie Koala Hospital for treatment.The animal was being treated for severe burns to his feet, chest and stomach.However, the hospital confirmed Tuesday that it decided to put Lewis to sleep because his burns were not going to get better.“We placed him under general anesthesia this morning to assess his burn injuries and change the bandages,” the hospital said in a post on Facebook.“We recently posted that ‘burn injuries can get worse before they get better,’ but in Ellenborough Lewis’s case, the burns did get worse, and unfortunately would not have gotten better,” the Facebook post added. “The Koala Hospital’s number one goal is animal welfare, so it was on those grounds that this decision was made.”Before his death, Lewis the Koala was reunited with his rescuer, Toni Doherty, who said it was her “natural instinct” to save the Koala from the fire.The Koala Hospital Port Macquarie is still working to save the lives of many animals affected by the fire.Click here to visit their Facebook page for more information.last_img read more

Seniors go out in style, down Illinois 72-60

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first_imgSenior Jade Davis, in her last night playing in the Kohl Center, totaled four points, four assists and three rebounds for the Badgers. Davis went 2-for-5 from the field on the night.[/media-credit]It was a fitting end for the senior class Sunday afternoon at the Kohl Center.In a game mired by first half uncertainty and a struggling Taylor Wurtz, the Badgers headed into halftime down by five. But on Senior Day, Wisconsin showed that it saved its best half of basketball for last, outscoring Illinois (11-18, 5-11 Big Ten) 43-26 en route to a 72-60 victory.Besides snapping a six-game losing streak, Wisconsin (9-19, 5-11) also secured the No. 9 seed and a matchup with No. 8 seed Minnesota in the Big Ten tournament, as the Badgers’ senior class finished their last game at the Kohl Center.“It’s an awesome day to be a senior and to be a Badger,” senior forward Anya Covington said.Morgan Paige led all scorers with a career-high 29 points, while Wurtz poured in 21 of her own, 17 of which came in the second half. Wurtz also continued her prowess on the glass, as the team’s leading rebounder by pulling down 12 boards on her way to earning her sixth double-double of the season.“I’m just very proud of them,” Wisconsin head coach Bobbie Kelsey said. “Obviously for the seniors it’s a very good win for us to go out at the Kohl, in front of our fans, to give them something to remember.”While Wisconsin was outshot in the first half by Illinois, the Badgers answered the Illini’s hot shooting with a scorching second half, as the team shot 64 percent from the field and 4-for-7 from three. The Badgers also won the battle for the charity stripe, converting on 16 of their 17 free throw attempts, led by Paige’s perfect 11-for-11 performance, good for a Kohl Center record.The 72 points were the most Wisconsin had scored since a Feb. 2 loss to Iowa in overtime.“The shots were falling for us,” Kelsey said. “Morgan and I were laughing because the last three she had was right in front of us and I was like, ‘That ain’t going in. Oh my God it went in.’ So that’s the kind of day we had today where as other days they don’t go in.”The Badgers even overcame a big day from Illini guard Adrienne Godbold, as the sophomore scored 23 points thanks to a 10-for-16 performance from the field. Godbold, who comes off the bench for the Illini, previously averaged only 9.5 points per game.“She’s really a starter,” Illinois head coach Jolette Law said. “But for me and my team she comes off the bench and brings the spark. She’s a gamer, and every time we need a basket or need a stop she’s there.”Defensively, the Badgers were able to withstand another lacking performance. Overall, the team allowed the Illini to shoot 45 percent from the field. However, the Badgers were able to grab a decisive advantage on the glass, as they outrebounded the Illini, 36-17.Two of those rebounds offered defining senior moments. With the Badgers up by 11 and under two minutes remaining, Wurtz missed the front end of a one-and-one. However, Covington soared to grab the ball, resulting in a jump ball and another Wisconsin possession. In the ensuing possession, Paige missed a three, only to see Davis bring down the offensive board, extending the possession and ending on a jumper from Covington to make the score 72-57.It was the last point the Badgers would score in the game, as Kelsey burned three of her remaining timeouts to check her seniors out of the game, one by one. As Davis, Ashley Thomas and Covington were removed, they were each greeted with standing ovations from the Kohl Center crowd. Together, the three Badger seniors left their mark on their final home game, combining for 14 points, 14 rebounds and eight assists.“I’m glad we could get a win in front of our fans,” Kelsey said. “For the seniors, I could get them out and get them their applause and their just due because they deserve that, considering all the changes that happened this year. I just want to say the seniors and all the players have been really supportive of me and the staff. Like I said it could have gone good or it could go bad, and they decided they didn’t want to waste time being mad about it or whatever the feelings were.“Our record doesn’t reflect what I feel they have accomplished. There were games that could’ve gone our way and could be different. I think that they persevered and really accepted us as coaches and were open to listening to what we had to tell them and working really hard to do that.”last_img read more

Arsenal, Celtic and Man City in action this evening

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first_imgArsenal and PSG will continue their battle for dominance of Group A as they play host to Ludogorets Razgrad and Basel respectively.Meanwhile, Celtic are at home to Borussia Monchengladbach. But the tie of the night is the other game in Group C as Pep Guardiola returns home as his Man City side go up against his former club, Barcelona.last_img

Ohtani fever? They’re catching it from Osaka to Anaheim

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first_imgANAHEIM — Shohei Ohtani is as big of a news story in Japan as President Donald Trump is in the United States — perhaps even bigger.Flip on TV news or pick up a Japanese paper and you will be confronted by a flood of images and stories of the Angels’ new two-way star hitting home runs in three straight games and pitching a near perfect seven innings. The most talked about American figure this week in Japan isn’t Trump, it’s Babe Ruth.Many of the 127 million people living in Japan wake up to watch Angels games live on TV — often before 5 a.m. Newsroom GuidelinesNews TipsContact UsReport an Error “People are going crazy… Ohtani fever is unbelievably high,” said Kazuma Yano, who is visiting Southern California from a suburb of Osaka, Japan’s second biggest city.“The first thing people talk about now,” he added, “is Ohtani.”Previous SoundThe gallery will resume insecondsNextShow Caption1 of 19ExpandThat excitement is playing out at Angel Stadium. A week into the season — and just days into what might morph into “Ohtanimania” if he continues to play the way he has — Japanese fans are showing up in Ohtani jerseys and T-shirts.On Sunday, when Ohtani made his home pitching debut, those fans were part of the biggest regular season day game gate at Angel Stadium in 20 years.A cluster cheered in Japanese from field level seats behind the Angels dugout, waving Japanese flags and holding up hand-made signs that, in Japanese, said things like “Go Ohtani” and “Sho Time” and, referencing his number, “Love 17.”center_img Alyssa Gabel, a long-time Angels fan from Placentia, welcomes the buzz.“There was more than the usual excitement,” Gabel said, adding the Big A atmosphere on Sunday reminded her of the 2002 World Series. “It’s really cool that we can get more culture going through baseball. I know it’s huge in Japan.”The Angels welcome the buzz, too. At the team’s stadium stores, they set up special Ohtani-oriented sections, peddling Ohtani-themed pennants, towels, caps and the like.Yano, the fan from outside Osaka, bought his ticket online, at home, after learning that Ohtani would be pitching Sunday. It was the first day of a five-day business trip to Southern California, and the 44-year-old (along with his suitcase) took a shuttle directly from LAX to Angel Stadium.“I consider it a half-business trip because the main purpose is to watch Ohtani,” Yano said, laughing and wearing an Ohtani jersey from the player’s Nippon Ham Fighter days.“I’ve only bought a ticket for today,” he added, noting that he was watching solo. “But I would probably feel like watching more after this game.”And Yano said that before Ohtani delivered — again — taking a no hitter into the seventh inning and striking out 12 on his way to a 6-1 win over the Oakland A’s.Still, while Ohtani is dominating Japanese media the way Trump has taken up all the oxygen generated by American political news, there’s a stark difference.“I don’t think there’s anyone who dislikes Ohtani,” said Naoyuki Yanagihara, a journalist who has covered Ohtani for Sports Nippon since 2013, his rookie year.Yanagihara is in Southern California this season as part of pack of about 20 Japanese writers who are here to cover all things Ohtani. Everything from Ohtani’s dating life (it’s sluggish) to his food preferences (he’s fond of crepes) have been the grist of Ohtani stories in Japan.The Japanese say they revere Ohtani’s humility and ability to focus just on baseball, as much as his talent and good looks. The fact that he looks like a potential two-way superstar in Major League Baseball doesn’t hurt.“He’s so sincere,” said Hidemi Eguchi, a 19-year-old from Japan who is studying this year at USC.“I can tell his character from his comments.”She was at Angel Stadium Sunday with two Japanese friends from LA; they took Uber to get to the game, a ride that cost about $60.“I’m so happy that he came to play baseball so close to where I live,” Eguchi said.“My big sister (in Japan) got so jealous.”Tomoki Kameyama, who lives in Detroit with his wife and three children, was spending a week vacation in Southern California, in part to see baseball.They had tickets for a Dodgers game, but when they found out Ohtani would be making his pitching debut in Oakland, on April 1, they scratched that plan and drove six hours from Los Angeles to the Bay Area for the Angels game. Two days later, they were in Anaheim to watch Ohtani play his first home game as designated hitter. That night, Ohtani, in keeping with his Babe Ruth week, swatted his first home run.“He’s at top level in both, pitching and hitting,” Kameyama, 41, said in Japanese.Kazuto Soejima turned up for the Sunday game as part of a week long vacation in Southern California. He was here partly for top-flight golf (multiple rounds at Torrey Pines; watching the Masters on TV), and partly for Ohtani.When Soejima and friends found out Ohtani would pitch Sunday, they quickly bought tickets. They even gave up watching the last round of the Masters, and drove more than an hour to Anaheim, for some seats on the third base line.“This is once-in-a-lifetime experience,” Soejima said.Japan’s Ministry of Foreign Affairs says there are more than 70,000 Japanese natives living in Los Angeles, Orange, Riverside and San Bernardino counties. And, so far, most of the Japanese fans who’ve caught an Ohtani game in Anaheim seem to be from that world.But as summer approaches, and Japanese schools take a break, Japanese families will take long vacations and Angel Stadium figures to get a surge of business. Japanese travel agencies have already begun selling packaged tours to watch Angels games.The first wave is expected during Golden Week, from the end of April to early May, when a number of Japanese holidays are celebrated. That week, the Angels are slated to play, among others, the Yankees.Riko Ieda, who works for a Japanese company in Irvine, sat in the stands Sunday with three Japanese co-workers. As Ohtani dominated, the 27-year-old said she identifies with her countryman.“It had been my dream to come to the U.S. and work here since high school,” Ieda said in Japanese.Ohtani, of course, famously had the same dream.“I was able to achieve that… and come here three months ago, around the same time as Ohtani.”Seeing him succeed, she added, “motivates me to work harder.”last_img read more

Tim Cone crushed over death of triangle offense architect Tex Winter

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first_imgPutin says Nurmagomedov doesn’t deserve harsh punishment Phivolcs: Slim probability of Taal Volcano caldera eruption “Never understood why he would a allow a coach like me to hang out and learn from him, but wow, he really impacted my life,” said Cone. “Will miss him forever.”Sports Related Videospowered by AdSparcRead Next Explosive Gilas Pilipinas not yet at its best, says Tim Cone PLAY LIST 01:45Explosive Gilas Pilipinas not yet at its best, says Tim Cone00:50Trending Articles03:22SEA Games 2019: Charly Suarez stops Burmese foe, advances to boxing semi02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Ginebra head coach Tim Cone. Photo by Tristan Tamayo/INQUIRER.netBarangay Ginebra head coach Tim Cone paid his respects to the iconic offensive maestro Tex Winter, who passed away Thursday at the age of 96.Cone took to Twitter to express his condolences to Winter’s family.ADVERTISEMENT Tim Cone, Ginebra set their sights on elusive All-Filipino crown “I’m crushed after hearing about the passing of Tex Winter,” tweeted Cone who has won 21 PBA titles while employing the triangle offense, the system Winter invented that reaped rewards in the NBA.READ: Former NBA coach Tex Winter dies at 96 FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissWinter assisted Phil Jackson to 11 NBA titles, six with the Chicago Bulls and five with the Los Angeles Lakers.Cone became a student of Winter’s and would visit the storied tactician during his trips to the United States. Gov’t to employ 6,000 displaced by Taal Allen Durham still determined to help Meralco win 1st PBA titlecenter_img Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college View comments Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Japeth Aguilar embraces role, gets rewarded with Finals MVP plum LATEST STORIES Don’t miss out on the latest news and information. MOST READ Nadine Lustre’s phone stolen in Brazillast_img read more

‘Bird catcher’ charged for attempt to commit felony

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first_imgA Success, East Coast Demerara (ECD) resident was on Wednesday released on bail after he denied attempting to jump into the yard of a policeman.Seventeen-year-old Mark Hermanstyne, of Lot 280 Success, initially pleaded guilty with an explanation when the charge was read to him.The charge states that on May 14, 2018, he attempted to commit a felony, that is simple larceny, on Harold Deonarine.However, the teen explained to the court that he was catching birds on the day in question when he saw birdseed plants at the fence of the Virtual Complainant’s yard.He claimed that he hopped off his bicycle and attempted to pick the bird seed, but Deonarine rode up on a motorcycle and accused him of attempting to enter his property.Hermanstyne claimed that he was beaten before being handed over to the Police.As such, Magistrate Fabayo Azore entered a not-guilty plea on his behalf and granted him bail in the sum of $25,000.The teen is expected to return to court on June 6.last_img read more