Public pensions, sovereign funds target infrastructure increases

first_imgPublic pension and sovereign wealth funds aim to invest more in property and infrastructure over the next two years, according to a new survey.Having been the fastest-growing portion of sovereign wealth fund (SWF) and public pension fund portfolios in recent years, real assets such as property and infrastructure are set to take up even larger slices of investors’ allocations.In its latest Global Public Investor report, London and Singapore-based think tank OMFIF said 70% of the 750 global public investors it surveyed planned to increase their infrastructure investments over the next 12-24 months – and none planned to decrease.Real estate was the next most popular asset class for future allocations, with almost 45% of pension funds and SWFs planning to increase their investments. However, 12% said they were planning to reduce property investments in this period. This planned reduction was mostly led by institutions with large allocations to real estate that have seen the value of their investments grow over recent years, OMFIF said in the report.“Most said they intend to reinvest the proceeds in new real estate projects,” it said. “Value-add and opportunistic projects, which offer greater potential for value appreciation and are less expensive than prime real estate in core locations, are the main targets for these acquisitions.”Between 2009 and 2017, SWFs and public pension funds’ combined property allocation climbed by nearly 120%, OMFIF said, citing a separate 2018 report it produced in conjunction with BNY Mellon. Infrastructure grew by 165%, albeit from a lower base. These investors had an average allocation to real estate of 9.3%, and 3.6% to infrastructure.The Global Public Investor report found that total assets had grown by $2.5trn (€2.1trn), or roughly 7.3%, to reach $36.2trn.This was the largest such increase in the five years since it started tracking the assets of the 750 institutions in its survey, OMFIF said. It cited the global economic recovery and upturn in equity markets as reasons for the asset surge.last_img read more

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After unfortunate ending for North Dakota’s women’s hockey program, future of female sports remains unknown

first_imgThis caused an uproar in the women’s hockey world, and many people began to wonder what kind of school could just simply get rid of a program without bothering to tell them they were on the chopping block. Many asked for North Dakota to reconsider, or to give the team a year to make up the deficit, as they had allowed the men’s golf team to do the year prior.North Dakota’s president Mark Kennedy denied many of these requests, stating that the matter was over and that this is what the university needed to do. Many people, including former women’s hockey players, began to show their disappointment in their alma mater, with the hashtag #NotUNDProud.#NotUNDProud pic.twitter.com/8LZtNW0McG— Jocelyne Lamoureux-D (@JocelyneUSA17) April 12, 2017The appeal to get the women’s hockey program back at UND soon began, with the hashtag #NeverEndtheFight uniting people across both the U.S. and Canada in their mission to bring back the program. Many thought that the outcry from the public would be enough to make the university reconsider, but in the end, North Dakota held firm in their decision with the team.By the time that May rolled around, many of the players began to receive offers to attend other universities, many of which were in the WCHA. The team was fractured, and many of its players still feel pain when they think of the fate of their former team.Some players were not as lucky as others, as many colleges and universities already had their roster spots filled for the 2017-2018 season. While North Dakota still provided scholarships for the athletes of the recently canceled program, many of them were forced to quit a sport that they loved and left without any means of continuing at UND.Wisconsin was only able to acquire one person from the North Dakota program, and Campbell is now the starting goaltender here at the University of Wisconsin. Looking back at the unfortunate end of the women’s hockey program at UND, Campbell feels as though this loss was a major loss for the entirety of women’s hockey.Three former UW women’s hockey players honored in ESPN’s annual body issueIn this year’s Body Issue, ESPN featured three former University of Wisconsin women’s hockey team members in recognizing their fight Read…“It hurts women’s hockey, it hurt’s the game,” said Campbell. “But a program like [North Dakota] can get cut. It became a fight for the future of women’s hockey. We tried the best we could to raise awareness because we didn’t want this to happen to any other program in the NCAA.”This unfortunate event shows just how fragile the world of women’s sports can be. North Dakota is not the only school that has canceled a female sport due to budget concerns, nor will they be the last.Wisconsin is currently home to 12 different women’s sports, and it is sad to think that there might come a day when we lose one of them. Wisconsin has a strong fan base that provides for many of the women’s sports that they have, but the same cannot be said for other institutions.What happened at North Dakota is a tragedy, and calls to question how secure the world of women’s sports really is. These kinds of events cause many to lose interests in women’s sports and are extremely discouraging to any female athletes out there who want to continue playing their sport at the next level.Supporting a women’s sports team at this time is crucial, and doing anything is better than doing nothing. North Dakota should serve as a turning point in the history of women’s athletics, not as a catalyst. No one expected the University of North Dakota to cancel their women’s hockey program at the end of the 2017 season, not even the players of the North Dakota team.On March 30, 2017, UND announced that after financial aid cuts from the state government they would be forced to cancel three of their athletic programs. Out of those three programs, two of them were women’s sports: hockey and swimming.What makes this series of cuts even more unfortunate was the fact that North Dakota had not informed teams that budget cuts would be made to their athletic programs. Many thought that after budget cuts from the previous year, which would see the loss of the North Dakota baseball team, that finances at the university were finally stable.Women’s hockey: While classmates prepare for exams, Pankowksi, Clark chasing Olympic goldAnyone who has taken an economics class knows that every choice you make always has an opportunity cost — losing Read…So you can imagine the shock on the face of Kristen Campbell and her teammates when they found out their head coach was going to meet with school officials to discuss the future of their program. Campbell and her team already knew that this was not a good sign, since this was the exact same dialogue that happened between the university and the baseball team one year prior.“Our coach came into the locker room and said that they had a meeting at three,” Campbell said, “which was never a good sign. When baseball got cut the year before, they got a text saying that they had to go to a meeting.”Campbell and her teammates knew something was wrong when they saw their senior class watching over them at practice. Since this was a spring practice for the team, seniors were not required to attend practice, but the senior class of North Dakota came to watch their teammates play one more time.A few of the seniors had found out about the demise of their program from Twitter, where stories and rumors were already beginning to spread in the area. While all of these stories were not technically confirmed yet, the senior class had a pretty good idea of what was about to happen to their team.Campbell recalled the strange events of that day, and remembers that the team knew something was off. Still, the team practiced on, not knowing that this would be their final practice together.A heartbreaking photo came out a few hours later, with North Dakota’s Gracen Hirschy showing the team practicing for the 2017-2018 season that they were looking forward to.last_img read more

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FRANCOIS SENSATION: ‘SHOOT ME BECAUSE I DON’T HAVE YOUR MONEY’

first_imgCROOK FRANCOIS de Dietrich told Donegal investors to ‘shoot’ him – in a desperate confrontation in Estonia, donegaldaily can reveal.We have learned that a number of men from the county who are owed millions of euro by the conman tracked him down to the Baltic nation.And when one of the investors lost his temper and threatened to have the French father-of-two shot, de Dietrich screamed: “Shoot me, shoot me, because I don’t have your money.” The brass-necked swindler has taken more than 200 Donegal investors to the cleaners.They didn’t know that he was a criminal fraudster with more than a dozen previous convictions in France for theft and dishonesty.The confidence trickster is wanted in the North for ignoring a High Court injunction. He faces an automatic 18 month prison sentence.The Donegal investors however managed to trace him to Estonia. One source said: “He (Francois) was terrified. He told the investors that the British authorities had all the money and that if they wanted it they should ring them.“It was the first time he had dropped his arrogance. One of the lads lost his temper and told de Dietrich he’d be shot if he didn’t return the cash and he shouted back that they should shoot him because he didn’t have the money.”Earlier this week we reported how investigators who brought the roly-poly crook to justice are appealing for conned victims to come forward.The Financial Services Authority in the UK has issued a public statement requesting investors to come forward.Donegaldaily understands that this is now the only way people who did give him cash will get their money back. In the statement, the FSA said: “We would like investors who had dealings with Francois de Dietrich or ETIC Solutions Ltd to contact us to provide details of their transactions.“This comes after we obtained a court order freezing their assets and requiring de Dietrich to provide certain information, which he has failed to comply with.“We obtained an order from the High Court in Northern Ireland against de Dietrich and ETIC Solutions Ltd (ETIC) on 27 October 2010, restraining any potential unauthorised activity and freezing ETIC’s and de Dietrich’s assets up to the value of £20.2m.“On 28 January 2011, de Dietrich was sentenced to 18 months imprisonment for contempt of court after he failed to disclose the whereabouts of his overseas assets as required by the terms of the High Court order, or respond to our requests for further information.” The statement went on: “Both de Dietrich and ETIC are believed to have been behind an unauthorised investment scheme.“The court order was taken out to preserve the funds and other assets held by de Dietrich and/or ETIC until the court decides whether he has broken the law. The court will also decide how much money, if any, should be returned to investors and other creditors.“Meanwhile, we are continuing our investigation into the activities of de Dietrich and ETIC.”The FSA also provided some answers to investors on whether or not they will get their money backOn this issue, the organisation said: “With the court orders in place, de Dietrich and ETIC may not accept money from, or pay money to, any person as part of the ETIC business. This includes a restriction on paying out funds to investors.“If you paid money to de Dietrich and/or ETIC and they did not have our authorisation to offer financial services, you will not be able to take a complaint to the Financial Ombudsman Service or have access to the Financial Services Compensation Scheme.”The statement went on: “We need to identify all investors, so if you have not had contact with us about this matter you should call our Contact Centre on 00 44 845 606 1234 or email consumer.queries@fsa.gov.uk. It will help us with this case if you provide your full name, a phone number, postal and email addresses.“Be aware that we are subject to strict statutory obligations of confidentiality, which mean we can only provide certain information to third parties. However, we will provide further updates on this case as soon as possible.”De Dietrich ran a dodgy get-rich-quick scheme – taking millions of euro from 200 investors in Donegal.The scheme was a fraud, designed to con people out of their cash.The Ballybofey businessman has fled Ireland and is now on-the-run from cops throughout Europe.FRANCOIS SENSATION: ‘SHOOT ME BECAUSE I DON’T HAVE YOUR MONEY’ was last modified: March 7th, 2011 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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