UK roundup: Carillion DC schemes join Willis Towers Watson’s master trust

first_imgCarillion was declared bankrupt in January 2018, with its defined benefit (DB) funds entering the assessment process for acceptance into the Pension Protection Fund.LifeSight was the first master trust to be approved by the UK’s Pensions Regulator under its new authorisation regime for multi-employer DC schemes. It has 105,000 members and £4.2bn in assets under management.Capita master trust allocates £320m to sustainable multi-factor fundThe Atlas Master Trust – set up by Capita – has awarded UK-listed asset manager Schroders a £320m mandate to run sustainable equities.The allocation is to Schroders’ sustainable multi-factor equity fund, launched in October last year. The asset manager has run Atlas’ default investment strategy since 2017.Paul Trickett, independent chair of Atlas’ investment sub-committee, said: “ESG investing is high on the agenda of many members and employers and, ever since its inception in 2015, the Atlas Master Trust has had a strong ESG philosophy underpinning everything it does.“Recognising its importance, I’m delighted that Atlas has become one of the first master trusts to more explicitly incorporate ESG into its default lifestyle strategies, via the funds managed by Schroders, demonstrating that the Atlas trustees are pro-actively seeking to continually develop and enhance Atlas for the benefit of its members.”3i pension fund insures £95m of liabilities with L&G Private equity investment house 3i has insured roughly £95m worth of its DB pension scheme’s liabilities with Legal & General (L&G).The buy-in transaction covered roughly 20% of the 3i Group Pension Plan’s liabilities for pensions currently in payment, according to L&G, and followed a £200m buy-in with Pension Insurance Corporation in 2017.Carol Woodley, chair of the trustee board of the £975m scheme, said it had been de-risking its investment strategy “for a number of years”, shifting its asset allocation in favour of bonds alongside the insurance transactions.The deal with L&G was “a positive step towards further improving the long-term financial security of members’ benefits in the plan”, she added. The pension fund trustees of collapsed outsourcing company Carillion have agreed to transfer the group’s defined contribution (DC) funds into Willis Towers Watson’s LifeSight master trust.Three Carillion DC schemes were transferred in January, Willis Towers Watson announced today, with LifeSight taking on 4,100 new members and £267m (€310m) in assets.Dianne Day, client director at Independent Trustee Services (ITS), which acted as trustee of the DC schemes, said LifeSight had been flexible to reflect the “particular needs of unfortunate scheme members whose sponsoring employers went into liquidation”.Fiona Matthews, managing director at LifeSight, added: “Carillion’s pension schemes have a unique set of circumstances, and we were delighted to be able to work with ITS to accommodate their particular requirements and for members to benefit from the member-first LifeSight service.”last_img read more

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Sanchez brace sinks Black Cats

first_imgAlexis Sanchez made the most of howlers from Wes Brown and Vito Mannone as Arsenal claimed a 2-0 victory at Sunderland. Press Association The Chile international needed no second invitation after Brown scuffed an attempted back-pass straight into his path and looked on in horror as he raced almost half the length of the pitch before beating goalkeeper Mannone with ease. And there was worse to come for the Italian, who handed Sanchez a second in injury-time as he made a mess of a back-pass. Brown looked to have the ball under control just inside his own half and turned neatly away from Sanchez in order to play it back to Mannone. However, his disastrous miskick allowed the Chilean to run through on goal and delicately chip the advancing keeper. Cazorla and Arteta both went close as the Gunners looked to kill the game off before half-time, although the home side managed to escape further damage. Whatever Poyet said during the break appeared to have an effect as his players returned in far more determined mood and set up camp much higher up the pitch. He was forced into a 50th-minute reshuffle when lone striker Steven Fletcher limped off to be replaced by Connor Wickham, and the newcomer arrived with his team enjoying their most productive period of the game to that point with midfielder Jack Rodwell forcing a save from Wojciech Szczesny with a firm header two minutes later. For the first time in the game, the Arsenal rearguard found itself under concerted pressure, although the home side’s frailty at the back invited further pressure with Brown almost serving possession up to Chambers before Van Aanholt’s aimless clearance allowed Sanchez to test Mannone from distance. Larsson warmed Szczesny’s hands with a 65th-minute drive from 25 yards and substitute Jozy Altidore looped a header towards goal from Van Aanholt’s inviting cross with 14 minutes remaining. However, the United States international fluffed his lines two minutes later when, having been picked out with a raking long pass by fellow substitute Jordi Gomez, he scuffed a volley harmlessly across the penalty area. Szczesny very nearly handed Van Aanholt on 81st-minute opportunity to level when, fearing he was about to step outside his area, he headed the ball straight to the full-back wide on the left, although the Dutchman’s long-range effort sailed wide of the far post with Mertesacker racing back to cover for his keeper. But disaster struck at the death when Mannone failed to control Buckley’s back-pass and Sanchez added a second from close range. Once again, the Black Cats, who scored three own goals in last Saturday’s 8-0 horror show at Southampton, were made to pay for self-inflicted wounds despite launching a second-half fightback in front of a crowd of 44,449 at the Stadium of Light. The home side’s humiliation on the south cost had cast long shadows and head coach Gus Poyet sent his team out demanding a reaction, although that was always going to be easier said than done against an Arsenal team packed with talent, although depleted by injury and suspension. However, the Uruguayan could only look on helplessly as his players initially struggled to shake off the trauma of their Southampton nightmare. The Gunners, predictably, retained possession with ease as Mikel Arteta and Mathieu Flamini supplied the excellent Sanchez, Santi Cazorla and Alex Oxlade-Chamberlain ahead of them to repeatedly stretch the home defence. By contrast, the Black Cats at times treated the ball as if it were a live hand-grenade as they retreated ever deeper towards Mannone. However, for all their early dominance, the visitors struggled to create clear openings with former Sunderland loanee Danny Welbeck sending a swerving, dipping 15th-minute effort on to the roof of the net after Sanchez had fired wide from distance. Poyet’s men only rarely managed to venture into enemy territory with the left flank their only real outlet, and while winger Will Buckley tested defender Calum Chambers on several occasions, it was full-back Patrick van Aanholt who forced an important 25th-minute block from Per Mertesacker after running on to Sebastian Larsson’s pass. But it was Mertesacker’s clearance which indirectly led to the opening goal. last_img read more

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ahaWorld acquires majority stake in South American betting operator

first_img LeoVegas hits back at Swedish regulations despite Q2 successes August 13, 2020 Related Articles Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Share Submit StumbleUpon Share Spelinspektionen reminds operators of AML responsibilities July 2, 2020 Updating the market, Swedish Aktietorget-listed igaming operator ahaWorld has detailed that it will enter the South American betting market having acquired a majority of equity in an unnamed regional operator.ahaWorld governance informed investors that the company had signed a ‘letter of intent’ for the transaction of a 51% stake in the South American enterprise. The operator will further be given a 24-month period in which it will have first right to acquire the remainder of the asset.The Swedish operator detailed that its acquisition would be financed via new share issue in ahaWorld of 4.3 million shares, resulting in a corporate dilution of circa 25.5%. ahaWorld detailed that it had acquired its South American asset a 6X multiple of its EBIT.The governance of ahaWorld detailed that following its completed investment (expected to be closed Q1 2017), the company will launch the asset across multiple South American markets.The acquisition sees ahaWorld expand beyond its core market of Scandinavia, the  Aktietorget-listed operator currently operates the igaming brands of ‘Sweden Casino’, ‘ahaBingo’, ‘ahaCasino’ and MoboCasino.com.At present ahaWorld governance has not disclosed any comment on its South American investment.last_img read more

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Dodgers’ Logan Forsythe returns to lineup after missing 30 games

first_imgWhile Forsythe was on the DL, Taylor emerged as a surprising contributor offensively. He hit .333 with five home runs and 16 RBI in 29 games and has been working out in the outfield with Dodgers coach George Lombard to give Roberts another option for getting Taylor into the lineup. The experiment started in spring training and Taylor looked out of place in the outfield during Cactus League action. Taylor also played the outfield in three games for Triple-A Oklahoma City before his promotion and Roberts said he sees improvement.“I think we’re past the point of just an emergency situation,” Roberts said. “I keep my eye on him out there and he’s working hard to get reads. The lines to the baseball are getting much better. He’s getting more comfortable. The training wheels are coming off, so we’ll probably see him in the outfield shortly.”Toles surgeryDodgers outfielder Andrew Toles underwent surgery to repair a torn ACL in his right knee Tuesday. Toles suffered the injury on May 9 in a game against the Pittsburgh Pirates. Surgery was not scheduled immediately in order to allow swelling to subside in the injured area.The procedure was performed by Dodgers team physician Dr. Neal ElAttrache and will sideline Toles for the remainder of the season. Toles batted .271 with five home runs and 15 RBI in 31 games before the injury.AlsoReliever Josh Ravin was returned to Triple-A Oklahoma City in order to clear a roster spot for Forsythe to come off the DL.Tuesday was the first of seven games in the next 10 days between the Dodgers and the St. Louis Cardinals. It is also the first of 16 consecutive and 19 of 22 against teams with winning records.Going into this stretch, the Dodgers were 8-11 against teams currently over .500, 18-8 against teams under .500.“We’re looking forward to it,” Roberts said of the challenging schedule. “But for us, it’s more about how we play.” LOS ANGELES >> If he hadn’t injured his toe, Logan Forsythe probably would have played through his hamstring issues. And if he didn’t have those hamstring issues, he probably would have returned from the toe injury sooner.The combination, however, kept Forsythe on the sidelines for 30 games before he was activated from the DL on Tuesday and returned to the Dodgers’ lineup for the first time since April 18.“I’m just happy to be back,” Forsythe said. “The toe thing was unfortunate. It was just one of those injuries that’s out of your control. It’s part of the game, but it’s tough because you work hard to stay on the field, and things like that can take you off it.”Forsythe said he felt some tightness in his hamstring the day before being hit by a pitch in the big toe of his right foot. He would have tried playing through the hamstring issue but a hairline fracture in the toe made that unnecessary. The early prognosis was that he could return from the toe fracture in two weeks. But he had to shut down a rehab assignment when the hamstring tightness flared up. On the bright side, it gave his toe more time to heal. But, it delayed his return by another two weeks. “Yeah. I think the hamstring was just going to be a day-to-day thing,” Forsythe said. “I just think it got away from us a little bit. With the down time and then trying to get back up and do things, we just never really nipped it in the bud.”After getting off to a .229 start in his first 10 games as a Dodger, Forsythe was 5 for his last 9 with a double before getting injured.“It’s unfortunate when you go down and you kind of feel like you’re finding your swing and you’re finding the groove of things,” he said. “But it’s a long season. That feeling will come back.”Forsythe went to the DL as the Dodgers’ primary second baseman. He returns as their temporary third baseman. With Justin Turner on the DL, Dodgers manager Dave Roberts said it will be a three-way rotation among Forsythe, Chase Utley and Chris Taylor at second and third base. Utley will only play second base and only against right-handed pitching. Forsythe will “ease” back into every-day play at third base for the time being. Taylor will be the swing man between both positions.“I’m just happy to be back and contributing,” said Forsythe, who played third base in college and early in his career with the San Diego Padres. “If that means moving around for awhile, I’m all in.”center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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Five things we learned in the Bundesliga

first_imgBerlin, Germany | AFP | Seven is Frank Ribery’s lucky number, Germany’s Mr Unlucky Marco Reus is out until April and the stats say Pierre-Emerick Aubameyang is a more prolific goal-scorer than Robert Lewandowski.Here are five things we learned from the Bundesliga this weekend:Ribery’s magnificent ‘7’Franck Ribery came off the bench to score Bayern’s last goal in their 3-0 win over Cologne and the Frenchman had the number ‘7’ shaved into the hair on the side of his head. Not only is ‘7’ Ribery’s shirt number and the number of points Bayern are clear in the table, but the Frenchman is hoping to win a seventh Bundesliga title in his tenth season with Munich. “I hope the ‘7’ is my lucky number,” Ribery told German daily Bild. “My son Saif had the idea to do it with a razor at the hairdressers. “My second son Mohammed also has a ‘7’ in his hair.”Better than LewandowskiPierre-Emerick Aubameyang netted twice in Borussia Dortmund 6-2 rout of Bayer Leverkusen to make him the league’s top scorer with 21 goals — two more than rival Robert Lewandowski. ‘Auba’, who is in his fourth season with Dortmund, has now scored 75 Bundesliga goals in 117 games for the club — better than the 74 Lewandowski managed in 131 league games in four years with Borussia before moving to Bayern in 2014. Aubameyang has replaced Lewandowski to be ranked fifth in the list of Dortmund’s all-time Bundesliga goal-scorers. Despite his goals, Aubameyang could be in trouble for dying the Nike logo into his hair, when Puma sponsor the club. No treble talk for AncelottiBayern Munich are dominating the Bundesliga, have reached the German Cup’s semi-finals and hold a 5-1 lead over Arsenal for Tuesday’s Champions League, Round of 16, second leg, but coach Carlo Ancelotti dismisses any treble talk. “When I head the word ‘treble’, I touch wood,” said the Italian, hoping any talk of the three titles won’t jinx his team. “In Italy, we say ‘a lot of praise means many problems later’,” he added having won the Champions League with AC Milan and Real Madrid.Reus injured – againBorussia Dortmund’s Marco Reus is Germany’s Mr Unlucky. The 27-year-old missed the 2014 World Cup win in Brazil with torn ankle ligaments and a place in the Euro 2016 squad with a pelvis injury. Reus tore his left hamstring in Saturday’s 6-2 thumping of Bayer Leverkusen and on Sunday, Dortmund confirmed he is out until April. Reus will miss Wednesday’s Champions League last 16, second-leg tie against Benfica with Dortmund looking to overturn a 1-0 deficit and Germany’s friendly against England in Dortmund on March 22, four days before a World Cup qualifier against Azerbaijan in Baku. “It’s sad news for us and an enormous loss, which throws a cloud over our win,” admitted Dortmund coach Thomas Tuchel.Sleepless JohnsonUS international Fabian Johnson capped an outstanding display by scoring two goals in Borussia Moenchengladbach’s 4-2 win over Schalke — despite only a few hours sleep after becoming a father.“My wife gave birth to our son Sean on Friday morning. I didn’t get much sleep, luckily it was an evening game,” he said, having managed to catch a few hours sleep before kick-off.But his Gladbach team-mates are expecting the left winger to put on a decent dressing room party to celebrate.“He’d better come up with something. Two goals and becoming a dad — that’s going to cost him,” said winger Patrick Herrmann.Share on: WhatsApplast_img read more

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