UK public pension pool preps £2bn corporate bond fund

first_imgLGPS Central is looking for active managers to run a £2bn (€2.2bn) global investment grade corporate bond fund.The tender, aided by IPE Quest, marks the latest step in the pooling of assets held by the consortium’s nine local authority pension fund members. Together they have £40bn in assets under management.The corporate bond tender is in line with previously outlined plans to roll out a number of pooled fixed income funds next year.According to the IPE Quest notice for the corporate bond tender, LGPS Central was looking for managers to be able to demonstrate a “consistent, robust, repeatable investment process” and an actively managed portfolio. Responsible investment would need to be part of the investment process and full transparency on a look-through basis would need to be provided with the fund’s custodian.The pension manager was also looking for a “low cost, fully transparent, value for money” offering.Third parties have been invited to tender through a pre-qualification questionnaire process. Successful applications would then be invited to complete a request for proposal before a “competitive dialogue” during final interviews and selection.LGPS Central specified that interested parties should tender using only the following e-mail address: [email protected] deadline for submitting pre-qualification questionnaires is 10 December at noon UK time.Since receiving regulatory authorisation in January, LGPS Central has launched three pooled equity funds and announced the managers of another equity fund, which together are expected to hold £14bn of investments from its partner local government pension scheme (LGPS) funds.When the procurement process for LGPS Central’s global active equity multi-manager fund was under way 150 fund  managers from across the world expressed an initial interest in tendering for the mandate.The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email [email protected]last_img read more

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MLAX : With SU’s Lade out of lineup, Pannell explodes for 6 points

first_img Published on April 12, 2011 at 12:00 pm Contact Chris: [email protected] | @chris_iseman Rob Pannell was as impossible to stop as he looked on film. He made perfect passes and dodged around his defenders with ease.When he wasn’t scoring, he was assisting, and vice versa. Pannell assisted Cornell’s first two goals and finished with three goals and three assists. The Cornell crowd that filled the Carrier Dome stands began the game with ‘Not that good’ chants, and Pannell’s play exposed SU all night to back them up.‘We understood that they were going to come out and play full, 100 percent lacrosse,’ Syracuse goaltender John Galloway said. ‘Pannell’s just such a talented player. We’ve seen it in every game he’s played, that he’s going to find those guys.’The Big Red was the better team in all aspects of the game Tuesday, led by another stellar performance from its star attack Pannell. No matter how hard Syracuse tried, it couldn’t find a way to stop the Big Red, suffering an 11-6 loss for its first defeat of the season. Pannell finished with six points, just above his nation-leading average of 5.5 per game.Cornell was looking for revenge off two last-second losses in a row to the Orange, and it was looking to be the better team. It came into the Dome and enacted that plan, due in large part to its high-octane offense.AdvertisementThis is placeholder textFor the first time this season, the Orange ran into a team that capitalized on its mistakes with ease. By the end of the first quarter Tuesday, SU was down by four and looked lost trying to halt the Big Red’s scoring. It looked helpless when trying to score. Cornell’s defense bared down on Syracuse’s scorers to make sure they never got close to the net.The Orange has recently relied on scoring from the crease. The Big Red made sure that didn’t happen, and forced it to take inaccurate shots from the outside.SU head coach John Desko wasn’t prepared to say his team didn’t play well. Instead, he said it was simply a matter of Cornell playing better. That was evident from the start, as Cornell jumped out to a 3-0 lead, thanks in part to Pannell’s precise passes. The Orange was left in an unfamiliar position.‘They played great defensively, they got all over us,’ Desko said. ‘They pushed the ball, they took quick opportunities. My hat’s off to them.’Cornell has one of the highest scoring offenses in the country, averaging 13 goals per game. With a sputtering offense of its own, Syracuse had to find a way to slow the Big Red’s scorers down. It never did.Pannell, specifically, dominated the Orange. Not making anything easier for Syracuse was the fact that its top defender, John Lade, couldn’t make it through the first quarter. Still recovering from a twisted ankle he suffered in SU’s game against Duke two weekends ago, Lade had to relinquish the job of stopping Pannell to sophomore defender Brian Megill.Syracuse felt his loss.With Cornell leading 4-1 at the end of the first quarter, Pannell fought off Megill just to the left of the crease. He flipped a seamless pass to Steve Mock, who flipped it into the cage from the lip of the crease. Not even 30 seconds later, Pannell ran through SU’s defense, made a perfect dodge around Megill and shot into the lower left corner of the goal right past Galloway.‘I was ready for the matchup, whether (Lade) played or not,’ Pannell said. ‘I was certainly preparing for him to play. They put someone else on me, and I was just going to play my role within our offense. It was kind of good to see that I don’t have to go up against him because he’s a great defenseman.’When the contest was over, Syracuse was left to walk off its field as the losing team for the first time all season. The Orange was dominated from the start of the game.For at least one night, Syracuse was not the best team.‘It’s just great to come up here and get a great win against a team like Syracuse,’ Pannell said. ‘It’s the No. 1 team in the country, it had an undefeated record. To get a win here is great for our team.’[email protected] Facebook Twitter Google+center_img Commentslast_img read more

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NEC, Be Honest, Transparent, Dependable; President Sirleaf, Avoid Interference

first_imgWhen President Ellen Johnson Sirleaf commissioned two new Commissioners of the National Elections Commission (NEC) last Monday, she warned the NEC to ensure the protection of the state from any disturbance by demonstrating neutralism and efficiency. The President urged the NEC Commissioners to build trust in Liberians to accept the election results. She went further to acknowledge concerns raised by people and institutions in the process, specifically pointing out the voter registration and exhibition exercises wherein the Election Coordinating Committee expressed dissatisfaction over the way they were done.This newspaper, the Daily Observer, in a recent editorial, had sounded similar warning to NEC chairman Jerome Korkoya and his team of Commissioners. Under the title, “Korkoya, Please Handle Our Election with Care,” we underscored unfolding instances that may possibly result to conflict if the election is not managed properly, fairly and honestly. These instances, in fact, continue to unfold. There is no independent body to conduct a poll to determine who is on top of other candidates in terms of popularity in the ongoing campaign; yet some parties are already claiming victory. From the exhibition, a dark cloud grew over the credibility of the NEC, especially when the chairman, Jerome Korkoya, said “Even if a registered voter’s name does not appear on the list but has a valid voter card, he/she will be eligible to vote.”At that point, many people wondered again as to how credible the election would be when the registration period was full of irregularities that led some to have more than one voting ID card. Although pulling crowds in a campaign does not necessarily guarantee that people turning out are going to vote for that particular candidate, some candidates have turned delusive in believing that they have a greater share of the voting populace, judging from the crowds they see. Last weekend we heard the ruling Unity Party speaking of detecting foul play and implicating NEC in tactically devising a strategy to tamper with the election results in favor of an unspecified opposition political party. Meanwhile, the Coalition for Democratic Change (CDC) was heard accusing UP standard bearer, Joseph Nyuma Boakai, of planning with some foreign agents to assassinate George Weah. Prior to these instances, George Weah himself had warned in his speech during the launch of CDC’s campaign that NEC must be careful and honest not to tamper with the election result.These are all serious concerns of suspicion that this particular election is risking both peace and violence, depending on the way it is conducted. NEC, therefore, needs to know that it is sitting on a time bomb that could explode at any time if it does not manage this election in a way that will win the confidence of the Liberian people and international partners. We can candidly say that continuation of the 14 years of peace we have enjoyed will depend on the outcome of the pending election. As President Ellen Johnson Sirleaf cautions NEC Commissioners to exert efficiency and neutrality in the election, she, too, must avoid suspicious interference with the election since she is not participating in it this time as a candidate.Though we have heard her say that she supports her Vice President, members of the very Unity Party are suspicious of her status in the electoral process. Indeed, a very high UP official told the Daily Observer recently, “one foot here and one foot there,” referring to the mixed signals the President has demonstrated during the course of the campaign. There is mounting speculation that despite her public pronouncement of support for Boakai, she is instead underhandedly supporting Charles W. Brumskine of Liberty Party (LP). Brumskine had once commented on this and insulted the Vice President for his alleged connection with the speculation.Just in recent days, rumors circulated that the sudden switching to the CDC of Gbehzohngar Findley, one of Ellen’s closest confidantes, is driving the President to support that party instead of Liberty Party that had earlier been suspected. While all these scenarios may be treated as unsubstantiated rumors, the fact remains that the President has the constitutional right to support whomever she wishes. There is also fear that her influence could drive the NEC to do what she may wish. After all, she has remained completely silent on the controversy regarding chairman Korkoya’s alleged holding of an American passport. Many are wondering why did not the President call in Mr. Korkoya and ask him pointedly: “Do you hold an American passport?”Apart from the one-party system which, under the True Whig Party, dominated Liberian politics for more than a century, the Unity Party led-government, headed by President Sirleaf, is the first in 73 years that is expected constitutionally to hand over power to another administration. Since all Liberians, including  President Sirleaf, expect this positive history-setting to come to pass, let the NEC set the basis for it by being fair, honest and transparent, and let the President play a neutral role to ensure the fulfillment of this historic peaceful transition.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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