Church Pension Board reports 18.6% return on return-seeking pool

first_imgThe CEPB runs a number of pension schemes, with more than 35,000 current or future beneficiaries, including clergy and church workers.Benefits for pre-1998 service are provided by the Church Commissioners’ £6.1bn endowment fund.In its annual report, the CEPB said 2013 was a year of very good returns for equities, with only emerging markets posting a disappointing performance.Major fixed interest markets were flat over the year, as they were in 2012.At end-2013, the return-seeking pool was made up of 65% global equities, 20% UK equities and 8% property.As in 2012, overseas equities – which returned 23% for the return-seeking pool – outperformed UK stocks, which returned 20.7%.The report said: “Emerging market equities have been disappointing, losing 6.1% over the year, but the allocation to global small-cap equity has worked very well indeed, returning 37.7% in 2013.”The property allocation, managed by CBRE, was increased in spring 2013, while the geographical balance was shifted to 50:50 UK versus overseas holdings.Property will make up 10% of the return-seeking pool once the new commitment has been drawn down by CBRE.The allocation to infrastructure, standing at 1% at end-2013, will reach 8% once commitments have been drawn.During 2013, 8% of the return-seeking pool was reallocated from actively managed global equity to two new high-conviction equity mandates managed by Edinburgh Partners and Longview Partners.These seek high returns from conventional large-cap equities by taking relatively concentrated portfolio positions.The CEPB said it spent much of 2013 investigating emerging market debt and other forms of debt investment for the return-seeking pool.But with the onset of the US Federal Reserve’s tightening, or at least ‘tapering’, of US monetary policy towards the middle of the year, it decided to hold back from investing, although it is following the asset class during 2014.At end-2013, the liability-matching pool was split 77% in index-linked government bonds and 23% in corporate bonds.The CEPB invests ethically, with its policy and practice shaped by the Church’s Ethical Investment Advisory Group (EIAG).During 2014, the EIAG is continuing its major review of policy recommendations on climate change and investment.It will also advise the CEPB on the use of pooled funds, publishing a policy this coming autumn.Last summer, the Church Commissioners were found to have invested in controversial payday lender Wonga, via a venture capital partnership.Meanwhile, the tri-annual valuation of The Church of England Funded Pensions Scheme (CEFPS) – the largest pension scheme run by the CEPB – was completed in 2013 and showed a deficit of £293m, compared with net assets of £896m.Contributions have been raised from 38.2% to 39.9% of pensionable stipend as from 1 January 2015.In addition, because of the scheme’s increasing maturity, the fund’s de-risking strategy continues, moving the fund from being 100% invested in return-seeking assets to a 60:40 split between liability-matching assets and return-seeking assets, to be achieved linearly by end-2029.The fund’s recovery period runs for 12 years from 1 January 2014. The £1.6bn (€2bn) portfolio of the Church of England Pensions Board (CEPB) made 18.6% on its return-seeking investments in 2013, outperforming the benchmark’s 17.6% return, according to its latest accounts.The average annualised return on the £1.4bn return-seeking pool for the three years to 31 December 2013 was 8.5%, outperforming the benchmark return of 7.5% over the same period.Over five years to the same date, the return was 11.2% per annum, with 11.1% for the benchmark.The fund’s £210m liability-matching pool also outperformed its benchmark by 0.1% with a return of 0.6%, while its performance over three years at 7.6% equalled its benchmark.last_img read more

Brazil’s Ronaldo opens up on rivalry with namesake Cristiano

first_img In the latter tournament, he was famously left out of the starting XI when the team sheets were handed in but eventually started the game after recovering from a mystery injury. But his side were beaten by Zinedine Zidane’s France with Ronaldo unable to have a meaningful impact on the match. Both Ronaldos have played for Real Madrid but Cristiano won more trophies including four Champions League titles. The Portugal captain has managed to stay fairly injury-free during his glittering career, a fortune that did not come to Brazil’s Ronaldo who suffered from recurring knee problems. read also:Brazil’s Ronaldo better than Cristiano – Vieri The Juventus player shows no signs of slowing down at the age of 35 with 21 goals in 22 games in Serie A this season. FacebookTwitterWhatsAppEmail分享 Promoted ContentInsane 3D Spraying Skills Turn In Incredible Street Art6 Of The Best 90s Shows That Need To Come Back ASAP7 Ways To Understand Your Girlfriend BetterPlaying Games For Hours Can Do This To Your Body6 Best Supercars In Movies You’ll Dream To Drive At Least OnceThe Very Last Bitcoin Will Be Mined Around 2140. Read More7 Thailand’s Most Exquisite Architectural Wonders8 Superfoods For Growing Hair Back And Stimulating Its GrowthTop 10 Most Romantic Nations In The WorldWhich Country Is The Most Romantic In The World?7 Black Hole Facts That Will Change Your View Of The Universe10 Risky Jobs Some Women Do Loading… Brazil’s Ronaldo won FIFA’s World Player of the Year three times before the age of 21 but was eventually surpassed by his Portuguese namesake. In an Instagram interview with Italian World Cup winner Fabio Cannavaro, the Brazilian spoke about being referred to as the ‘real Ronaldo’. He commented: ‘For Cristiano, it must be boring to hear that I am the real Ronaldo. ‘People cannot be compared. Cristiano will remain in football history for the goals and for the continuity he has achieved. He will remain one of the best, like Messi.’ The Brazilian won the World Cup in 1994 and 2002 and was runner-up in 1998.Advertisement Distinguishing between football’s two Ronaldos has been a problem since the emergence of Cristiano as one of the world’s greatest players.last_img read more

Waterman lands Lee County Speedway opening night win

first_imgJeff Waterman was the IMCA Modified feature winner on opening night at Lee County Speedway. (Photo by D&M Racing Photography) Friday’s 20-lap Budweiser IMCA Modified main saw Dennis LaVeine and Dakota Simmons draw the front row. LaVeine took advantage of his spot to jump out into the lead over Andrew Schroeder and Simmons.  While LaVeine worked the bottom of the track, Waterman used the top to try and wrestle the lead away. Coming off turn four on lap nine, Waterman used his momentum off the top to edge LaVeine at the line to take over the top spot.  By Brian Neal  DONNELLSON, Iowa (April 12) – Jeff Waterman began his pursuit of another Lee County Speedway track title with the opening night IMCA Modified feature victory. center_img Other winners were Jeremy Pundt in the Donnellson Tire & Service IMCA Stock Cars, Brayton Carter in the Roberts Tire Center IMCA Northern SportMods and Jake Houston in the Discount Tire & Service IMCA Sport Compacts. Schroeder looked under LaVeine over the next five laps, before the first caution of the race appeared. On the restart, LaVeine jumped back out front with Waterman, who started ninth, coming from fifth to second.  Waterman maintained his advantage following a lap 10 restart as Schroeder and LaVeine battled for second. The final half of the race would go caution free, which allowed Waterman to pull away. LaVeine was second and John Oliver Jr. took third. last_img read more

Champion Hurdle success for Jezki

first_img Jessica Harrington’s charge travelled powerfully in the hands of Barry Geraghty and loomed large alongside dual winner Hurricane Fly rounding the home turn. Tony McCoy’s mount My Tent Or Yours, like Jezki carrying the colours of JP McManus, came to challenge Jezki after the final flight but the Irish raider dug deep to prevail by a neck. Press Association Geraghty, now unbeaten in five outings on Jezki, said: “He’s a great little horse. He had good form and he didn’t have a lot to find with the best of them. I don’t think his price reflected his chance. “It was also a great run by the runner-up. I’m sure JP (McManus) will be delighted with the first two home. The runner-up was getting to me, I needed the line. “I’ve been riding winners for Jessie since I was 17 or 18. She’s been great to me over the years with the likes of Moscow Flyer and it’s great to do it again here for her.” Harrington said: “It’s fantastic, it really is. It’s great to be in this position. “He’s a great favourite of mine. He’s a great horse and Barry has a great record on him. “I always had great faith in the horse. He’s a smashing horse, he really is. “He relaxed well (in a first-time hood) and he got through the preliminaries, which was great. “The horse battled terrifically well.” McManus said: “The National Hunt season centred around the Champion Hurdle for me because I didn’t have any Gold Cup horses and I’m unlikely to win the Grand National. “The Champion Hurdle was all-important and full marks to everybody – Nicky (Henderson), Jessie (Harrington) and Eddie (Harty) to have their horses looking in mint condition as well as all the other runners in the race. They were all a credit. “It’s a very special day.” The New One’s trainer Nigel Twiston-Davies said: “He definitely lost more ground than he was beaten through no fault of his own. It was just very hard luck. “In the Christmas Hurdle he was unlucky and he was unlucky here. Let’s hope we can stop it. “What could Sam (Twiston-Davies) say? I was so proud of him, having been dealt a very bad hand, the way he got the horse back in the race very gently and there at the last, so well done him. “I’m wondering just how good our horse is. He hasn’t proved it today but maybe he is very, very good. “If he’s OK, we’ll certainly go to Aintree.” Despite being treated at length on the track, Our Conor, such a brilliant winner of the Triumph Hurdle 12 months ago, had to be put down as a result of his injuries. The British Horseracing Authority tweeted: “Sad to confirm that Our Conor, after extensive treatment by veterinary surgeons, was humanely put down due to a suspected serious back injury.” In the OLBG Mares’ Hurdle, Quevega raced into the record books with a sixth successive victory. But the 10-year-old, sent off the 8-11 favourite in the hands of faithful partner Ruby Walsh, was made to work hard by her stable companion Glens Melody until getting her head in front in the final 100 yards. Quevega was surpassing the legendary Golden Miller, who won five successive Cheltenham Gold Cups from 1932-36, and did so in her own inimitable style, making eyecatching progress and moving into third place before the final hurdle. From there the sights were set on Paul Townend and Glens Melody before she strode away up the hill to take her place in the record books, scoring by three-quarters of a length with L’Unique the same distance back in third. Western Warhorse caused a huge upset in the Racing Post Arkle Challenge Trophy, while V autour won the Sky Bet Supreme Novices’ Hurdle. Jezki got the better of My Tent Or Yours to claim victory in the Stan James Champion Hurdle at Cheltenham. The New One finished strongly to grab third spot, having been hampered by the fall of Our Conor early in the race. Hurricane Fly had to settle for fourth. There was a strong pace from the outset in the two-mile showpiece, with Captain Cee Bee challenged by Our Conor, just ahead of hat-trick seeking 11-4 favourite Hurricane Fly. The decisive moment in the race was Our Conor’s heavy fall at the third flight, severely compromising The New One’s chance in the process. Hurricane Fly travelled with his usual zest in the hands of Ruby Walsh and moved sweetly to the lead, but it was clear 9-1 shot Jezki had much more to give, sporting a hood for the first time. Harrington’s charge moved to the lead on the run to the final flight and jumped it well, but My Tent Or Yours emerged as a serious threat in the hands of McCoy. The champion jockey threw everything at the Nicky Henderson-trained runner-up, but Jezki was not for passing. Jezki had been ridden in his four previous starts this season by McCoy. last_img read more

Swansea’s Kyle Naughton keen to play against Stoke after birth of daughter

first_img Press Association The full-back withdrew from the side to face his former club Tottenham two weeks ago after his partner went into labour ahead of the game. With new mum Bethany and daughter Olive both doing well, Naughton has returned to training ahead of the Barclays Premier League fixture with Stoke. Having missed the 2-2 draw with Spurs, Naughton is keen to return to action and will be bidding to replace Angel Rangel at right-back. “I’m looking forward to Monday night,” Naughton told the Swansea website. “It’s been a busy two weeks off the field with the new baby, but the international break has also allowed everyone to have a few days’ rest time. “I don’t like missing games, but I think everyone will understand why I wasn’t available against Spurs. I was there for the birth of Olive, all 7lb of her, which was an amazing experience. “Now it is back to the football and everyone is determined to stretch our unbeaten home record to five league games. “We’ve had good wins over Manchester United and Newcastle, plus encouraging draws against Everton and Spurs, so it is important to keep it going. “Stoke will provide us with a tough test. They’ve looked decent over recent games after their difficult start. They are a good pass and move side under Mark Hughes and he has them well organised. He has done a great job since taking over there. “But we are at home and it is important we stamp our own authority on the game. I love playing under the Liberty lights. It’s extra special because the fans always create a fantastic atmosphere. I’m sure it will be bouncing again.” center_img Swansea defender Kyle Naughton is back in contention to face Stoke on Monday following the birth of his daughter. last_img read more

Plea Deal For Granddad In Little Girl’s Cruise Ship Death

first_imgThe grandfather of a little Indiana girl who died after falling out the window of a cruise ship in Puerto Rico last year is agreeing to plead guilty to causing her death.Sam Anello’s lawyers yesterday agreed to plead guilty to negligent homicide charges in 18-month-old Chloe Wiegand’s death.Anello said that Chloe fell out of a window of the ship while they were docked but didn’t know the window was open. His lawyers say the plea deal comes with no jail time and no admission of facts. Legal experts say it’s the best outcome in the case. Anello will serve a probation sentence in Indiana.last_img

Covid-19 break may add ‘a year or two’  to James Anderson’s career

first_imgENGLAND fast bowler James Anderson believes the enforced break from cricket due to the coronavirus pandemic could prolong his career.Anderson, 37, is part of a 55-player group that has been asked to return to training, with the first Test against West Indies set to start on 8 July.Anderson has regained full fitness after picking up a rib injury on England’s winter tour of South Africa.“It could just add on a year or two at the end of my career,” said Anderson.The Lancashire paceman, who is England’s all-time leading wicket-taker in Test cricket, has only bowled 74 overs since August after missing large parts of last summer’s Ashes and the winter tours of New Zealand and South Africa through injury.He has been bowling in the nets at Old Trafford with social distancing measures in place.Speaking on the latest Tailenders podcast, Anderson said: “I’ve really enjoyed being back and as odd as it is just bowling into a net, with not many people around, it’s still nice to be back and playing cricket.“I bring all the kit myself – my bands and med balls to warm-up with – and I’ve got my own cricket balls which I don’t normally have.“I have a quick lap round the outfield and then straight into the nets. I bowl a few overs and then get straight back in the car and go home.”The England and Wales Cricket Board (ECB) is expected to announce a revamped summer schedule this week.“I got up to speed quite quickly. I’m off my full run up and I feel like I’m ready to play now,” Anderson said. “I need to just calm down a bit.“As players you are working towards the 8 July date as if it’s going to happen but obviously each stage has to be ticked off by the government, most importantly, and secondly the ECB.”The series will take place behind closed doors and Anderson, like team-mate Jofra Archer, supports the idea of playing artificial crowd noise at the games.“I’ve been watching the rugby league in Australia and I actually thought there was a crowd watching because they were playing crowd noise through the speaker in the stadium,” Anderson said.“I actually thought it worked. It was nice to have that sort of atmosphere even though there was no-one there.”last_img read more

With midfield clicking, SU’s offense thrives

first_img Published on May 3, 2010 at 12:00 pm When the lacrosse season began in February, Jovan Miller was full of uncertainty. Sure, he had confidence in his team, but to say he was completely comfortable would be a stretch.At that time, the junior midfielder didn’t know much about the rest of his midfield crew.‘Up until the first game I had never played with Jeremy (Thompson), so I had no idea what it was going to be like being out there with him,’ Miller said.  ‘Me and (Max) Bartig had been competing my first two years here, so that was a bit different.’  Miller was hardly the only one in the dark. Before the first contest, more than two months ago, the biggest question mark facing the Syracuse lacrosse team was its midfield. How was the team going to replace Pat Perritt, Matt Abbott and Dan Hardy? ‘Early on, there were questions,’ SU head coach John Desko said. ‘To graduate five of our top six offensive middies led to a major question mark about the group.’AdvertisementThis is placeholder textBut 13 games later, that question mark held by outsiders and insiders alike has vanished. Syracuse has lost just one game. It is No. 2 in the national polls as the postseason nears. And five of its top eight point scorers come from the midfield group.  Thompson, Bartig, Miller and Josh Amidon headline the unit.  It is a list dominated by players who lacked experience coming into the season. But a group that has collectively worked to answer any questions that lingered.   ‘All of us have the same mentality,’ Thompson said. ‘We do the extra work and hopefully it will translate over into the games.’This is a long way from where they were just one year ago. Thompson transferred from Onondaga Community College. Bartig played limited minutes in 10 games last season. Amidon played second fiddle to an all-star cast of midfielders. And Miller was more of a defensive enforcer.Now, Amidon leads the group with 25 points on the season. Thompson has 23, Miller has 18 and Bartig has 15 points. ‘It has definitely been surprising for everybody,’ Miller said. Well, not everyone.Last season’s top-scoring midfielder, Dan Hardy, was one of the few people without any questions regarding his replacements. Hardy, who graduated last year, has attended most of the Syracuse games this season and is not surprised at all with how the group has performed.‘They are at Syracuse for a reason,’ said Hardy, who now plays for the Orlando Titans of the National Lacrosse League.The opportunities have come. And the unit has responded.  First, it was the opening game against Denver when Miller, Thompson, Amidon and Bartig all registered a goal. Next, Amidon erupted for five points in a win against Georgetown. Then under the lights against longtime rival Johns Hopkins, Bartig had his day, scoring three goals in a 10-7 win.And on a rainy night when the Orange struggled to find the back of the net against Hobart, Miller put up two goals. Thompson followed that up with a five-point performance against Villanova.‘Someone always seems to step up game to game,’ Desko said.It’s an evolution that Hardy saw in the making last season. Case by case, it was evident.  Even though Bartig did not play much through his first three seasons, in practice Hardy saw he had potential.  ‘In practice last year, Max was always the guy who would score every time he had the ball,’ Hardy said. ‘We all looked at each other like, ‘When is this going to come out in games?”With Miller, it was all about his love for the game that made him such a dangerous player, Hardy said. For Hardy, he is just another version of Matt Abbott.‘He is the best of all the middies at playing both ways,’ Hardy said.  ‘He does it all and filled the shoes of Abbott perfectly.’And Amidon reminded Hardy of himself.Hardy did not have a chance to play at Syracuse with Thompson, but he faced him on the high school circuit.‘I would always wonder how he did some of the things he does,’ Hardy said. ‘… He does everything and makes life easier for the rest of the guys.’And though Miller was unsure how things would go before the season began, Hardy had no doubts.  Said Hardy: ‘They play the exact same way we did.’ Commentscenter_img Facebook Twitter Google+last_img read more

Bricio, Hagglund earn Pac-12 honors

first_imgAfter a successful trip to the Bay Area that netted victories at Stanford and Cal, sophomore outside hitter Samantha Bricio and senior libero Natalie Hagglund were named Pac-12 Offensive and Defensive Player of the Week, respectively.Lead the way · Sophomore outside hitter Samantha Bricio leads the Women of Troy with 266 kills and 61 service aces this season. – Ralf Cheung | Daily Trojan Follow Kurt on Twitter @legen_daryKurt Bricio, a sophomore from Guadalajara, Mexico, earns the offensive honor for the first time this season, after picking up five selections for Freshman of the Week last season. Bricio scored 18 points on Wednesday against Stanford to go with a career-high 23 digs. She also recorded two service aces in the match to help the Women of Troy to a thrilling five-set victory.On Friday against Cal, Bricio played perhaps her best match of the season, recording five service aces to put her season total up to 61 -— good enough to break USC’s single-season record for service aces. In addition to her team-high 25 points in the match, Bricio took part in the Women of Troy’s stout defensive effort as well. Her four solo blocks led the team, and she contributed for four assisted blocks to lead the team with eight total blocks.Hagglund, a senior looking to lead her team to the national championship in her final season, added to an already-stellar career during the week. In the first match at Stanford, she recorded 36 digs in five sets and tacked on a service ace to help the team on the offensive end. Hagglund outdid herself in the next match against Cal, recording the same amount of digs in just four sets. With 2,131 career digs, Hagglund has now moved into fifth all-time on the Pac-12 digs leaderboard and will continue to climb as the season nears its end.Bricio’s most recent selection is the second of her career, and Hagglund’s defensive selection is the fifth of her career. With one more selection for a weekly award, Hagglund would become the most decorated Trojan ever in this category. USC has now received 57 weekly honors since the award’s inception in 1986.The Women of Troy have two home matches this weekend, as they take on the Oregon Ducks on Friday and the Oregon State Beavers on Sunday at the Galen Center.last_img read more

Fire academy celebrates graduation of first class

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisAlpena, Mich. — Thursday night was a celebration of hard work and dedication over at Alpena Community College.13 volunteer firefighters walked across the stage certified and ready to serve in local communities. These students are the first to graduate from firefighter academy at the college.Course manager and Alpena Township Fire Chief Dave Robbins addressed the class along with several other key note speakers. The graduates are now certified to respond to calls and help keep the Sunrise Side safe.“For the most part, our community is volunteer firefighters, and to know that they went through seven months of two nights a week and all of these Saturdays and now they are going to be on call all of the time for fire situations, it’s very humbling because these are folks who volunteer their time to protect us as community members, ” said Dawn Stone, director of workforce development at Alpena Community College.ACC has become a regional training center for firefighters, so expect to see more students cross the stage for years to come.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Alpena Area, alpena community college, Fire Academy, Firefighters, Regional Training Center, Volunteer FirefightersContinue ReadingPrevious Alpena Community College artists ready to showcase their workNext Photo of the Day for Friday, May 3last_img read more