UK unions have criticised payments to shareholders in water companies“Part of this package involves an expectation that boards first meet their obligations to customers and take fair account of employee interests before making dividend payments,” Fletcher said.The response comes in the wake of growing controversy over shareholder payouts in the sector. On 28 March, Field wrote to Ofwat with regards to plans by certain energy companies to close their defined benefit schemes to future accruals.In his letter to Ofwat, Field asked the water regulator for its view on moves by firms “while continuing to make large distributions to shareholders”.Fletcher responded that companies’ pension arrangements were beyond the remit of the regulator.She said: “However, while we believe it is appropriate that companies should take account of pension obligations when making dividend decisions, we make no judgement about the appropriateness of companies closing their defined benefit schemes to future accruals, and it is not Ofwat’s role to regulate how much companies should pay in to their pension funds.”Any repairs to existing deficits should be borne by shareholders, rather than energy company customers, Fletcher added.The UK’s largest trade union, Unite, has backed the committee’s investigation into the decisions by Anglian Water and United Utilities to close their respective DB plans.The union said it was concerned that the companies’ profits were “heavily skewed towards the shareholders” and warned that the closures could see staff lose as much as £100,000 from their overall pension pots. The London CIV now runs £15bnThe fund has an initial £66m investment from the London Borough of Merton Pension Scheme, with a second unnamed fund due to invest £180m.Rob Hall, head of equities at London CIV, said: “This fund offers an active and pragmatic approach to investing with an environmental, social and governance lens and we look forward to working with RBC to offer the London boroughs a market-leading sustainable equity offering.” In addition, the London CIV confirmed its plan to launch a multi-asset credit fund in June. Last month it emerged that CQS and MidOcean had been appointed to run multi-asset credit mandates, subject to due diligence processes.Despite significant problems regarding resources and governance , which have resulted in some London funds being reluctant to engage with the pool, the London CIV said it now had oversight of more than £15bn, or 40% of its member finds’ total assets. This includes its own funds and pooled passive mandates.Water regulator warns on dividend policies in response to pension concernsThe UK water regulator Ofwat has said it expects energy companies to “take fair account of employee interests before making dividend payments” in the latest step in the ongoing discussions regarding the balance between shareholder payouts and pension contributions.In a letter to Frank Field, chair of the UK parliament’s Work and Pensions Select Committee, Rachel Fletcher, CEO of Ofwat, said that the regulator did not have “powers to regulate what pension arrangements companies should have in place”.However, she emphasised that Ofwat had recently launched “an ambitious programme of reforms” to address the issue of dividend payments. “Their collaborative approach and willingness to support our evolving requirements with bespoke solutions were key factors in their appointment.”In February Northern Trust was appointed as custodian of another LGPS pool, the Border to Coast Pensions Partnership. This £43bn collaboration between 12 LGPS funds will launch in the summer after securing a three-month extension on the government’s April 2018 deadline to be operational.The Brunel Pension Partnership appointed State Street as its custodian in September last year. Both the ACCESS and Wales pools have hired Link Asset Services to provide the infrastructure for their collaborative investments.London CIV confirms sustainable equity mandateThe London Collective Investment Vehicle (London CIV) – which is working to pool the assets of 32 LGPS funds in the UK capital – has formally launched a sustainable equity fund managed by RBC. The largest UK public sector pension pool, known as the Northern Pool, has appointed Northern Trust as custodian and administrator for its £46bn (€52.9bn) of assets.The Northern Pool is a collaboration between the Greater Manchester, West Yorkshire and Merseyside pension funds and was created in line with the UK government’s push to consolidate funds and reduce operating costs.Subject to the final contract being signed, Northern Trust will provide services including securities lending, private equity fund administration, compliance monitoring and carbon reporting for the Local Government Pension Scheme (LGPS) pool.Ian Greenwood, chair of the Northern Pool, said: “We appointed Northern Trust based on their proven experience in the UK pensions market and their ability to offer us a range of holistic reporting, custody and alternative administration solutions, in accordance with the government’s requirements of putting the highest and most expedient levels of regulation and asset safety at the heart of the Northern Pool.
April 20, 2007BIRMINGHAM, Ala. – Since her arrival on the West Florida campus last year, sophomore Suzana Cavalcante (Sao Paulo, Brazil) continues to collect post-season awards. On Friday, Cavalcante was named the Gulf South Conference East Division Player of the Year. Cavalcante was one of four Argonauts to earn All-GSC First Team honors.Cavalcante is just the second player in conference history to claim GSC East Division Player of the Year honors. Former Argonaut Andreea Petrisor was a three-time player of the year honoree from 1999-2001. Cavalcante was also the GSC East Division Freshman of the Year last season.Cavalcante has helped lead West Florida to a number five ranking nationally and a 15-6 overall record. All of Cavalcante’s singles matches were in the first position and she finished with a 13-4 record. She finished the regular season as the fifth-ranked singles player in Division II. Cavalcante also posted a 14-6 record in doubles, with 13 of her doubles wins coming with partner Paola Arevalo (Cali, Colombia). Cavalcante and Arevalo are currently the 15th ranked doubles team in Division II.Two other Argonauts earned their second consecutive All-GSC First Team honor. Like Cavalcante, sophomore Tammy Kevey (Auckland, New Zealand) is also ranked nationally in singles and doubles. Kevey, currently ranked 15th in singles, leads West Florida with 17 singles wins. In doubles, Kevey has combined with teammate Mandy Septoe (Port Elizabeth, South Africa) to form the fourth-ranked doubles team in the nation.Septoe was once again honored by the conference with first team accolades. Currently ranked 45th in singles, Septoe has posted a 9-9 record. For the second consecutive year, she has been half of one of the most dominant doubles teams in Division II. Septoe and Kevey have posted an 18-3 record, including 15 wins in the first position.Renata Mattos (Brazil) earned her first All-GSC honor. Mattos is currently ranked 38th in singles in Division II. She is 11-8 with all of her wins in the third and fourth positions. She has also totaled a 15-5 record in doubles, including 13 wins with partner Anne Claire Beard (Villevaude, France).West Florida, the GSC East second seed will face GSC Weed third seed Henderson State at the Bird and Bear Medical Inc./GSC Women’s Tennis Tournament on Saturday in Arkadelphia, Ark. The match will begin at 11 a.m. CSTPrint Friendly Version Share Cavalcante Wins Second Straight Player of the Year Award
… Quarter-finals on tonight TIMEHRI Panthers ended the group stage of the 2019 LIMACOL football tournament with a 1-0 win over Black Pearl FC, as the preliminary round concluded Friday evening.Tyrone Khan in the 20th minute did the damage for the Timehri Panthers who now move into the next round. Riddim Squad, who were also scheduled for action, gained a walkover over Beacon.In the latest standings, the Santos U-20 finish atop Group A with three wins from three games and goal difference of 7 while second-place Timheri Panthers finish with two wins and one loss for a total of five points and a zero difference. Black Pearl and Camptown FC have ended with a point each.In the B group Fruta U-20 finished with nine points after three wins from three games and a goal difference of 14 while the second-place of the group belonged to Buxton Stars who have one win, one draw and one loss for a total of four points and a negative-six goal difference.GFC sit third with three points with one win and two losses from the maximum number of games and a goal difference of -2 while Northern Rangers have a negative-six goal difference and one point from three games with two losses and a draw.Group C ended with Riddim Squad atop with three wins from three games and a total of nine points while second-placed GT Panthers have the same number of points from three games (two wins and a loss) and a negative-one goal difference. Beacon have one point and a negative goal difference after one win and one draw from their two games while Pouderoyen have one point from their three games (one win) and a negative-four goal difference. In the Group D, Pele lead the way with two wins and a draw on seven points with a goal difference of seven while Mahaica Determinators sit second, just one point behind with two wins and a loss and one goal difference. In third, Dynamics Football Club have four points after one win, one loss and one draw with a negative-one goal difference while Police B end the tournament winless and with a goal difference of negative-seven.Meanwhile quarter-final matches are billed for this evening with Santos U-20 taking on Buxton Stars and Pele playing GT Panthers.
Syracuse running back Steve Rene is out for the rest of the 2012 season due to an upper-body injury that required surgery, SU Athletics announced in a press release Tuesday.Rene, who saw action in five games as a kick and punt returner, will undergo surgery on Nov. 27. Team physician Dr. Irving Raphael will carry out the procedure, and Rene will be evaluated throughout the rehabilitation process. Whether or not he can participate in spring football will be determined in March 2013, according to the release.Rene battled injury throughout preseason camp and during the season, and he finished with eight punt returns for one yard and nine kick returns for 193 yards. Rene hadn’t played in the Orange’s last three games.SU strong safety Ritchy Desir leads the team with 19 punt returns for 100 yards while wide receiver Jeremiah Kobena has been the team’s primary kick returner, with 20 returns for 386 yards. Comments AdvertisementThis is placeholder text Facebook Twitter Google+ Published on November 20, 2012 at 6:26 pm Contact Ryne: firstname.lastname@example.org