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Global managers register largest yearly AUM increase in 2019

first_imgIPE’s Top 500 Asset Managers Report also highlights impact of Q1 2020 market crash on managed assets,Global asset managers saw a record increase in assets under management last year, according to IPE’s annual asset management study.Driven by strong returns across all asset classes during 2019, global managers saw their aggregate AUM increase by 22.1% year-on-year, to reach €81.1trn. This was the largest yearly increase since the start of the decade.Assets managed on behalf of European institutional investors also grew strongly during 2019, reaching €11.4trn. The figure represents a 11.7% increase from the previous year.This year a further 100 managers were added to the ranking. Enlarging the universe added €285bn of assets, equating to 0.37% of the total. IPE’s study also analysed the performance of a sample of 70 managers during the first quarter of 2020, as markets suffered one of the worst crashes in history.During the period, managers in the sample saw their AUM collapse by 9.7%, as markets reacted to the global economic shutdown imposed by governments in response to the COVID-19 pandemic.Across the 70-manager sample, assets collapsed from €45.6trn to €41.2trn during the first three months of 2020.The subsequent market recovery in April and May erased part of the drawdowns suffered during that period.During the first quarter of the year, BlackRock was the biggest loser in absolute terms, registering a drawdown of €857bn. In relative terms, quant house PanAgora Asset Management was the biggest loser, experiencing a 29% drawdown.There were also managers that recorded higher AUM at the end of the period, compared with the end of 2019. Infrastructure and private equity house Foresight Group posted a 12% increase in AUM, the largest increase in relative terms.With €6.7trn under management, BlackRock topped the ranking of global managers again this year. Fidelity Investments climbed to third place replacing State Street Global Advisors, which dropped to fourth place.Capital Group and BNY Mellon IM swapped places, with the former taking fifth place and the latter taking seventh place. Goldman Sachs Asset Management entered the top 10 in tenth place, while PGIM dropped to twelfth place.Total assets managed by the top 10 managers increased in 2019 relative to the remaining managers. Cumulatively, the top 10 held 34.7% of assets compared with 33.6% in the previous year.The top 10 ranking of European Institutional managers saw some significant changes outside the first four places, which were unchanged. BlackRock retained the top spot, followed by Legal & General Investment Management, BNY Mellon Investment Management and Insight Investment.The largely capitive APG Asset Management reached fifth place, as PIMCO dropped to tenth place. Allianz Global Investors and UBS Asset Management took eighth and ninth places respectively, while Aberdeen Standard dropped to eleventh place.At global level, BlackRock recorded the largest net client inflows during the year, adding nearly €387bn to its AUM. For the second year in a row, Aberdeen Standard Investments recorded strong net client outflows as clients withdrew €72.2bn.The IPE Top 500 Asset Managers report can be found here.last_img read more

Negros Brgy exec charged with graft over SAP aid

first_imgMANILA – A barangay captain in Negros Occidental was charged with violation of the Anti-Graft and Corrupt Practices Act in connection with the distribution of the cash assistance under the government’s Social Amelioration Program (SAP). The charges against Ferrer and Fajardo stemmed from a text message sent by complaining concerned citizen, according to the DILG secretary. Department of Interior and Local Government (DILG) secretary Eduardo Año identified the barangay captain as Maria Luz Leal Ferrer of Barangay 8, Isabela, Negros Occidental. President Rodrigo Duterte earlier expressed anger over alleged corruption in SAP distribution. He offered P30,000 for any information that could lead to the discovery of anomalies in the program. Investigation showed that a 13-year-old grandchild and a well-off relative of Ferrer were released with cash assistance, said Año. Nationwide, according to Año, the Philippine National Police – Criminal Investigation and Detection Group (PNP-CIDG) are set to investigate 183 barangay officials for alleged anomalies in the distribution of the SAP cash assistance,center_img Local residents Wizza Leal and Emmanuel Orsolon were also charged over entries in the SAP form, the Secretary added. Ferrer was also charged with violation of Article 171 (which prohibits falsification of documents) of the Revised Penal Code together with Mae Fajardo, the social welfare officer of Isabela, said Año. Ferrer, Fajardo, Leal and Orsolon could not be reached for comment as of this writing. “Hindi titigil ang ating kapulisan sa pagdakip sa mga mandarambong na mga barangay officials na siyang talagang virus ng lipunan,” Año said in a statement./PNlast_img read more

Trojans team in class all on its own

first_img“For The Love Of The Game” runs every other Friday. To comment on this article, visit dailytrojan.com or email Dave at [email protected] I remember 2004 and 2005 just as much as the next person. It was a time defined by wardrobe malfunctions, Shaq and Kobe’s split, a search for weapons of mass destruction in Iraq and, yes, USC’s dominance on the football field.Sure, who doesn’t like a national championship-caliber team now and again, but sometimes you just have to face the facts. This is 2011, not 2005. At some point you simply have to move on from what was and focus on what is, because time passes by too quickly to revel in the past.This message is still unfortunately lost upon the majority of media members and fans who follow USC football through rose-colored glasses. These days, nostalgic trips down memory lane aren’t few and far between for some, but instead daily doses of delusion.It simply needs to stop.The present isn’t as bright at the Coliseum as it was six years ago, and if that obvious sentiment is lost on anybody, just check the attendance numbers. But it does nobody any good to continue the comparisons back to a time where the grass was a little bit greener.At some point, the only way to accept reality is to appreciate it for what it is.If this year’s version of the Trojans is the roast beef to the 2005’s filet mignon, sign me up for a few extra slices. There might not be a title waiting on the other side of the 12-game schedule, but it’s hard not to root for these guys.If you subscribe to the school of thought that defines these players solely as athletes, maybe this won’t make much sense. Even with the current win-loss total, give me this group 10 times out of 10 over the 2004 and 2005 teams.What they might lack in firepower, pro-potential and genuine swagger, they make up for in the character department.The 2004 and 2005 teams were led by a quarterback who was more interested in celebrity status and self-image than in buying into the team concept. He could perform on Saturdays, sure, but outside of rare athletic gifts, how great a spokesman was he for the athletic program?Give me the current No. 7, not only behind center but as the face of the program. Instead of carousing the club scene in Hollywood during his off-season, Matt Barkley was volunteering his time in Nigeria. So while his touchdown to interception ratio might not pack a stadium like Matt Leinart, let’s face it: He’s a better poster child for a university that preaches well-roundedness and community activism.During the so-called “golden years” of USC football, running back Reggie Bush electrified crowds with his acrobatic leaping ability and flair for the dramatic. Along the way, he would win a Heisman Trophy and sell a bunch of jerseys and video games, but he would also plant the seeds for the sanction-imposed paradise we now live in.Sure 2011’s group is a motley crew of characters compared to Bush, Leinart and company, simply trying to get the program on the map again rather than planning for a New York City ceremony or bowl game.But how many football players do you know that split time between the practice field and the stage every week, as freshman running back Amir Carlisle, a theatre major with a 4.0 GPA in high school does?How many give up their summer break to teach kids how to play football in American Samoa, as starting junior center Khaled Holmes did in 2011?Or who are so passionate in prayer and faith that they attempt to start an on-campus ministry group as junior wide receiver Brice Butler has done this semester?Up and down the roster — from junior running back Curtis McNeal to sophomore cornerback Nickell Robey to senior tight end Rhett Ellison — lies story upon story about current players selflessly helping the community, pursuing interests outside of football or taking part in educational endeavors that can’t be ranked by the BCS or shown on ESPN’s Top 10 plays.This is by no means a slap in the face to the Pete Carroll years we all know and love, but times have changed, and in some ways for the better. The word “student-athlete” as it pertains to the football program might mean more now than ever before.Though fans might not like that Athletic Director Pat Haden has diligently worked to emphasize the initial part of the label more so than the latter, sometimes sacrificing a few wins for the betterment of the school is necessary.Celebrity has been replaced by stability around these parts, and it’s bound to shift even more in the coming years. For those who continue to struggle with the notion of this program not being what it once was on the field, take solace in knowing that off the field, successful strides are being made everyday.It might not be 2005, but from where I’m sitting, 2011 ain’t so bad.last_img read more

UKGC launches industry-wide credit card consultation

first_img Gambling-related harm APPG outlines 2020 strategy January 23, 2020 StumbleUpon Submit Share Paul Hope – UKGCThe UK Gambling Commission (UKGC) has confirmed that a ’12-week consultation process’ will commence in mid-August, which could result in the banning of credit card used for wagering purposes. The confirmation of the consultation follows on from a call for evidence which the UKGC launched back in February of this year, in which the Commission sought to gain insight from both the industry and on the impact of both potential restrictions, and potentially including an outright ban, could have on gambling. Paul Hope, Executive Director at the UKGC, discussed the upcoming consultation: “Gambling with borrowed money is known to be a risk factor for consumers, so we think there is a need for action. This consultation will help us decide what that action should be.”The UKGC has outlined a number of key points that are to be discussed during the consultation, including alternative forms of borrowing and e-wallets. The Commission has, however, explained that it expects there to still be ways for gamblers to indirectly use credit cards to gamble, regardless of whether or not a ban is implemented.Moreover, the UKGC plans to obtain further evidence regarding the motivations for using credit cards to gamble, and whether there are any specific benefits and risks of using them.A statement uploaded to the regulator’s website earlier today stated: “One approach would be to ban gambling online with credit cards. However, the public and all other stakeholders will be consulted on other options, including restricting the use of credit cards. “The Commission will then take the most appropriate course of action in view of any evidence obtained by this consultation, alongside data already submitted.” Share Related Articles Parliamentary report brands Gambling Commission as ‘toothless’ June 28, 2020 UKGC – Credit ban applies across all technology verticals June 10, 2020last_img read more

Man caught with ten stolen mobile phones jailed for 6 months

first_imgA man who was caught with ten stolen mobile phones has been jailed for six months.Sabin Rostas appeared at Letterkenny District Court after being caught with the phones at a routine Garda patrol at Oldtown, Letterkenny on February 24th last. The court was told that all ten phones had been stolen on the same night at the Warehouse Bar in Letterkenny.Solicitor Patsy Gallagher said his client was not charged with theft and that other people who were not before the court were responsible for that.He said everyone whose phone had been stolen had received them back despite the fact that they were without them for a period of time.He said his client had gathered some cash and wanted to compensate the victims for the period of time without their phones.Rostas, aged 28 from The Green, Convoy, also pleaded guilty to the theft of a purse form a handbag in the Voodoo NIghtclub in Letterkenny on December 24th, 2017.The court was told that CCTV showed Rostas putting the purse into a ceiling space inside the men’s toilets but that €70 in cash taken from the purse was never recovered.Judge Paul Kelly said Rostas, who has seven previous convictions, had got off lightly until now with community services and fines.“There’s only one way I can deal with this,” added Judge Kelly.He sentenced Rostas to three months in prison for the purse theft but backdated that sentence to March 17th when he went into custody and a further three months for possession of the stolen phones.Man caught with ten stolen mobile phones jailed for 6 months was last modified: June 7th, 2019 by StephenShare 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

10 months agoEx-Spurs boss Redknapp: Arsenal, Chelsea NOT title contenders

first_imgEx-Spurs boss Redknapp: Arsenal, Chelsea NOT title contendersby Paul Vegas10 months agoSend to a friendShare the loveFormer Tottenham boss Harry Redknapp feels there’s three genuine contenders for the Premier League title this season.Liverpool currently sit six points clear of Spurs and seven of Manchester City.And Redknapp believes it is a three-horse race.“I think it’s a three horse race,” he told talkSPORT. “Liverpool are the favourites now which is a big turnaround.“But Tottenham are in great form at the moment and they are genuine title contenders.“Spurs are still in it, you can’t write them off. They are bang there, the way they are playing at the moment.“I can’t see anybody else getting into it.“I watched Arsenal yesterday and they are nowhere near in my opinion.“I know they’ve had injuries, but at the back they are still very poor.“And Chelsea are just so reliant on Eden Hazard. Without him you couldn’t really see them challenging, they’re still short of a frontman.“So really, I think there are three runners and I think it will be very tight.” About the authorPaul VegasShare the loveHave your saylast_img read more

2016 NBA Mock Draft: First Round 2.0

first_imgNBA DraftTwitter/@NBADraft NBA DraftTwitter/@NBADraftWe’re only one week away from the 2016 NBA Draft. The draft order has long been set, and the Philadelphia 76ers have been on the clock deciding who they will take with the No. 1 pick. As the date gets closer, all of the potential picks begin to crystallize and the draft starts to take shape. Last month, we brought you our first NBA Mock Draft, but now we decided to take an updated crack at prognosticating how the draft will play out. Note, there are no draft-day trades in our scenario. We predicted what every team would do if it stood pat and picked in its designated slot.Without further ado, let’s kick things off.   Get Started: Picks 1-5Pages: Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7last_img

Passenger Transportation Board expected to rule on Greyhound application to stop serving

first_imgThe company has called on the provincial government to subsidize intercity bus travel, similar to the subsidies provided to municipal transit. VICTORIA, B.C. — The Passenger Transportation Board of B.C. is expected to deliver its decision today on Greyhound’s application to cease service on four Northern B.C. routes.Last August Greyhound Canada announced that it was planning to cut nine routes across the province, including the Dawson Creek – Whitehorse and Prince George – Dawson Creek routes. The company is also seeking to greatly reduce service on other routes in Southern B.C. after saying that many of its routes are no longer profitable.During a series of public hearings on the application, Greyhound said it is losing $35,000 per day, which works out to a loss of nearly $13 million per year. Greyhound Canada’s lawyer David Blair explained during a hearing in Fort St. John that the only reason the company has been able to serve rural and remote communities is by also maintaining licenses on more profitable routes.last_img read more

Why maternity benefit act not applicable to adhoc staff Delhi HC asks

first_imgNew Delhi: The Delhi high court on Wednesday questioned why the Maternity Benefit Act would not be applicable to the ad-hoc employees of the Delhi University (DU) when it was applicable to contract labourers of any establishment or government undertaking.The query by Justice Suresh Kait was posed to the DU while issuing notice to the Centre, the university and the Aurobindo College here, seeking their stand on a female ad-hoc professor’s plea alleging that she was denied maternity leave as she was not a permanent employee. Also Read – After eight years, businessman arrested for kidnap & murder”If it (the Act) is applicable to any shop or establishment or government undertaking or government institution, then why not to the university is the question,” the court said. It further asked, “Why not applicable to ad-hoc when it (the act) is applicable to contract labourers?” The court listed the matter for further hearing on August 5 last year. During the brief hearing, the college said the professor’s application for maternity leave was forwarded to the DU and a response was awaited. Also Read – Two brothers held for snatchingsIt also told the court that the petitioner had not contended that the Act was applicable to the college or the university. The lawyer representing the DU told the court that there were no rules or regulations in the university to provide maternity benefit to ad-hoc employees. The woman, in her plea, has contended that under the Maternity Benefit Act, she is entitled to six months’ leave, but the university did not grant her the relief as she was not a permanent employee and was employed on ad-hoc basis.last_img read more

Frances FM Apologizes to Moroccan Foreign Minister over Humiliating Treatment

first_imgRabat – French Minister of Foreign Affairs, Laurent Fabuis, apologized on Friday to his Moroccan counterpart, Salaheddine Mezouar, after the “humiliating” way in which the Moroccan Minister was treated at Paris Charles De Gaulle airport.“Laurent Fabius called his Moroccan counterpart to present the apologies of the French authorities for the inconvenience that has been caused to him while transiting at Charles de Gaulle airport,” the spokesman Quai d’Orsay, Romain Nadal was quoted by Le Figaro as saying.“The minister immediately asked the competent department of the Ministry of the Interior and Paris Airport that everything be done to enforce strictly in French airports the rules and diplomatic practices that apply to foreign ministers and heads of state and government,” he added. In its edition of Friday, the Moroccan newspaper Assabah reported that the French custom services subjected Salaheddine Mezouar, Morocco’s Foreign Minister, to what it described as a “humiliating” search while he was on transit at Paris Charles De Gaulle airport on his way to Morocco.According to the same source, the inspection procedure, described as “degrading” was long, while the head of Moroccan diplomacy was forced to remove his coat, belt and other footwear.The incident happens a month after the relations between Morocco and France entered a period of tension and turbulence following a lawsuit filed by an NGO against Abdellatif Hammouchi, the head of Moroccan Domestic Intelligence Agency (DGST), and the decision of a French judge to send 7 policemen to Moroccan ambassador’s residence to inform Hammouchi, who was accompanying the Interior Minister on a visit to Paris, of a summon issued by the investigating judge.Few days later, French press reported a statement made by Javier Bardem, one of the staunch supporters of the Polisario, in which he allegedly said that during a meeting he had held with France’s Ambassador to the United Nations in 2011, the French diplomat had told him that “Morocco is a mistress who you sleep with every night, who you don’t particularly love but you have to defend.”© Morocco World News. All Rights Reserved. This material may not be published, rewritten or redistributedlast_img read more