Two Nordic pension funds have said regular reporting is impacting their ability to make effective asset allocation decisions designed for improving long-term performance.Speaking at Fund Forum in Monaco, representatives from Finnish pension fund Ilmarinen and Sweden’s SEB Pension said the nature and necessity of regular market updates led them to account for such measures at the expense of better strategies.Kerstin Lysholm, portfolio manager at SEB Pension, said that, despite investing for pension schemes with long-term horizons, competitors poaching clients using performance data hampered its ability to attract savers.“Our competitors run around with peer comparisons that show one-year performance, sometimes three years – and to make it worse, it is updated in the media on a monthly basis,” she said. “So, even though we believe we can do something very well, and clients have several economic cycles to go through, the likelihood is we do not get client money during these periods of underperformance.”She said this had led the pension provider to make allocation decisions based on short-term risks.“Short-term peer comparisons have a huge impact on our asset allocation decisions, and that is in tactical asset allocation and long-term strategies,” she said.Ilmarinen, the €33bn pensions mutual insurer, which manages around 80% of its assets in-house, said it faced similar issues, despite not being a commercial manager.“We publish results on quarterly basis, which is much too often for a pension fund,” said Staffan Sevon, head of tactical allocation at the mutual.“Our solvency depends not only on our liabilities and also on the average solvency in the system. So, even if you have a good return, your liabilities increase because of this, which makes allocation decisions tricky.”However, he said, internally, when asking questions about performance, the investment management arm said the guiding of expectations was essential.“If you have investment decisions that seem like a good idea and you have good arguments for them, and you document these arguments, then you have a significantly longer time period – you can guide expectations,” he said.“Even though it’s internal, it is a marketing issue.”Sevon also said the fund’s decision to bring the hedge fund strategy in-house was motivated by cost and control issues.The fund, as part of its 80% of internally managed assets, now only has a 1.3% exposure to external hedge funds.He said Ilmarinen’s strategy was to run all assets from Finland whenever a local presence was not essential.
DISTRACTION FOR LIONS AHEAD BATTLE OF UYODuro IkhazuagbeAhead of the double-header FIFA World Cup 2018 qualifying games with Nigeria, the Executive board of the Cameroon football federation (FECAFOOT) may step aside any moment from now for a Normalisation Committee be appointed to run its affairs until a fresh election takes place. The Bureau of the FIFA Council decided wednesday to appoint a Normalisation Committee for the FECAFOOT in accordance with article 14 par. 1a and article 8 par. 2 of the FIFA Statutes.The resort to a Normalisation Committee is the fall out of the decision of the Court of Arbitration for Sport (CAS) to annul the electoral process leading to the election of the current FECAFOOT executive committee in 2015.Attempts by FIFA to reconcile the football stakeholders in Cameroon failed leading to the current impasse.The mandate of the Normalisation Committee will include the following tasks:Â· To run the daily affairs of FECAFOOT;Â· To draft new statutes in consultation with all stakeholders and in compliance with FIFAâ€™s Statutes and standards as well as mandatory national law;Â· To review the statutes of the regional and departmental leagues and ensure their alignment with the FECAFOOT statutes;Â· To identify the delegates of the FECAFOOT general assembly and of the regional and departmental leagues;Â· To organise and conduct elections of a new FECAFOOT executive committee.FIFA insisted that the normalisation committee will be composed of an adequate number of members to be identified by a joint FIFA and CAF mission scheduled to take place very shortly.â€œThe committee will act as an electoral committee and none of its members will be eligible for any of the open positions in the elections.â€œThe specified period of time during which the Normalisation Committee shall perform its functions shall expire no later than February 28, 2018,â€ the statement concluded.Shortly before the Confederations Cup that took place in Russia last June, a Cameroonian club, Etoile Filante de Garoua, reportedly complained to FIFA that FECAFOOT led by Tombi Roko Sidiki, lacked authority to send a team to the tournament.FIFA however ignored the protest and allowed the Indomitable Lions participate but failed to go beyond the group games.Cameroon was banned from global football in July 2013 before the establishment of a FIFA-approved Normalisation Committee.Sidiki and his executive committee then assumed office after elections held in September 2015. But the CAS subsequently backed a ruling made in Cameroon nullifying the polls that brought Sidiki to office.The Indomitable Lions of Cameroon who are trailing Super Eagles with four points in the Group B of the Russia 2018 qualifiers are due to arrive Uyo early next week for the September 1 game at the Nest of Champions. The return leg is scheduled to hold in Yaounde on September 4. A win in Uyo for Eagles will move Nigeria up nine points and only need another victory to seal the passage to the Mundial.Although Cameroon enjoys a superior head-to-head record against Nigeria, Eagles defeated the Indomitable Lions 3-0 in their last meeting in a friendly in Belgium in October 2015.Wednesday, Odion Ighalon who has just been recalled to the senior Nigerian team said from his China base that Eagles would be hungrier for the three points at stake in Uyo than the African champions.â€œWe want the game more and God will crown our efforts on the day,â€ observed the former Watford forward last night.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram
Tag: 夜上海论坛WI Cardinals, officials in ‘good place’ with talks on Kyler Murray snap claps, Kliff Kingsbury says
“I feel we are in a good place with it,” Kingsbury told reporters earlier this week. “It’s just something new and there is some subjectivity to it, but I think we have come to an understanding.… Just an abrupt motion without the actual clap is what we have to avoid. We’ve come to that place and we understand that.”Claps are certainly allowed in the NFL, but they aren’t nearly as common in the pros as they are at the collegiate level. Despite the initial reactions to Murray’s unusual cadence, Kingsbury says he’ll stick to the routine that makes his quarterback comfortable moving forward. Related News Regardless, it looks like officials with have to adjust to Murray’s style of play as the season goes on. The Oklahoma product was selected first overall and has been tasked with turning around an Arizona team that went 3-13 last year and is paired with a first-year head coach.People have their doubts the 5-10 quarterback has the chops to make it in the NFL and Arizona will try to make him feel at home so he can thrive in his rookie season. Kyler Murray’s pre-snap clap threw officials off in the Cardinals’ 33-26 preseason loss to the Raiders on Thursday and coach Kliff Kingsbury says the two sides are working on clearing up the confusion.Murray was flagged for two false starts against Oakland and says he was told his claps were “too abrupt” and “not smooth enough.” Kingsbury believes progress is being made toward a resolution though. Patriots’ Josh Gordon reinstated; Roger Goodell, Bill Belichick release statements Murray had a strong showing in a win over the Chargers last week, but his performance against Oakland was hampered by poor field position due to penalties. He only completed three of his eight passing attempts against the Raiders for 12 yards, leading to speculation that Arizona’s college offense might not be the best fit for the NFL. Eagles signing veteran QB Josh McCown to 1-year deal