The UK’s National Employment Savings Trust (NEST) has seen all its default funds achieve positive returns over the last year, despite what it said were challenging times facing investors.The master trust, which at the end of March had £825m (€1bn) in assets under management, ended the financial year with nearly 3m members – the majority of whom were saving into its 50 default retirement date funds.NEST released its annual report as the UK government asked whether the scheme should be allowed to offer its members drawdown products, an area from which it is currently barred, as pension scheme members were required to annuitise when NEST’s founding statute was drafted.Despite nearly doubling scheme assets over the course of the year, NEST attributed a net increase of £406m to member contributions, and only £16.9m to investment return. This compared to a £38m gain from investments during the 2014-15 financial year, and a net increase in assets of £296m from contributions.While all of NEST’s default retirement date funds achieved a positive return, volatile investment markets meant the consumer price index (CPI) plus 3% target for members in growth phase was missed.Of the sample of funds listed in its annual report, NEST said members in the 2040 fund achieved an annual return of 0.66%, while a member targeting retirement in 2059 achieved a return of 1.4%.Only funds targeting outperformance relative to CPI or the London Interbank Bid Rate (LIBID) were able to outperform their benchmarks, and both the ethical fund and sharia fund fell short, returning 1.21% and 1.32%, respectively.“The year under review was a challenging time for markets, with considerable investment volatility, particularly in the summer of 2015 and at the start of 2016,” NEST said.It added that stocks with “heavy” commodity exposure suffered over the course of the financial year, and said credit markets were “challenging”.“Against that backdrop,” it said, “NEST Retirement Date fund returns were understandably lower than in previous years.”However, it emphasised that the annualised performance for its funds since inception in 2011 remained “comfortably ahead of target”, as was the case with the ethical fund’s 9.9% annualised return compared with its target of 4.6%.Default funds in the lower-risk foundation phase have also fared well since inception, with members targeting retirement in 2059 seeing an annualised return since inception of 7.9%, compared with its annualised investment target of 1.56%.The scheme’s annual report was released as the Department for Work and Pensions launched a consultation on the future of NEST, asking whether the scheme should be allowed to offer drawdown products after the introduction of pension freedoms and the end of compulsory annuitisation.The consultation suggested allowing NEST to offer decumulation products to its existing members, and noted the scheme’s previous research, which saw it propose the introduction of blended products combining deferred annuities and income drawdown.In emphasising that NEST would only offer decumulation to existing members, the DWP is likely seeking to stave off criticism from an industry fearful that the scheme will dominate the nascent drawdown market.It therefore also asked those responding to the consultation, which closes at the end of September, to detail the impact of the decision on individuals, and other pension providers.Commenting on the consultation, pensions minister Ros Altmann said: “NEST has played a vital role in the success of automatic enrolment, and its importance is likely to increase in coming years.“It is right, therefore, that we now consider how it continues to deliver its services in future.”NEST has 3.3m members and has seen its assets increase to £970m.
The probe team is now validating them, according to Police Lieutenant Colonel Gilbert Gorero, public information officer of the PRO-6. * violation of Republic Act 3019 (Anti-Graft and Corrupt Practices Act) * violation of Article 171, Paragraph 4 of the Revised Penal Code (RPC), “Falsification of Public Officer, Employee or Notary or Ecclesiastic Minister” ILOILO City – As of 5 p.m. of May 13 the Police Regional Office 6’s (PRO-6) hotline (09998654625) had received a total of 87 text messages alleging irregularities in the distribution of the cash assistance from the government’s Social Amelioration Program (SAP) in Western Visayas. These messages were forwarded to the Criminal Investigation and Detection Group (CIDG) Region 6 for further validation and subsequent conduct of investigation if evidence warrants. “In this time of pandemic, corruption has no place in Western Visayas,” said Police Brigadier General Rene Pamuspusan, PRO-6 director. He appealed to the public to report to the nearest police stations or to its hotlines any anomalies and irregularities in the distribution of the SAP./PN Recently, policemen initiated appropriate charges against four individuals in Negros Occidental over SAP. The charges were for: * violation of Article 172, Paragraph 1 of the RPC “Falsification by Private Individual and Use of Falsified Documents” The PRO-6 also brought four other complaints from Capiz to the Joint Task Force CV-Shields.
Angels’ Mike Trout working on his defense, thanks to Twitter The Hank Aaron award is selected by a vote of fans. Angels’ Shohei Ohtani spending downtime working in outfield Trout, 28, hit .291 with 45 homers and a 1.083 OPS this season, which he said he was his best offensive season. Trout’s campaign was cut short because he had surgery to remove a Morton’s neuroma in his right foot.Related Articles Angels’ poor pitching spoils an Albert Pujols milestone Jose Suarez’s rocky start sinks Angels in loss to Astros The most significant prize, of course, is the MVP Award, which is awarded by the Baseball Writers’ Association of America. Trout is a two-time winner of that award, and he and Alex Bregman are the top two candidates this year. The winner will be announced on Nov. 14. Angels offense breaks out to split doubleheader with Astros Mike Trout picked up two awards on Wednesday, with three weeks still to go before the American League MVP Award will be announced.Trout won the AL Hank Aaron Award, which goes to the best offensive player in each league. Christian Yelich of the Milwaukee Brewers won the National League award.Trout also was named Sporting News Major League Player of the Year. The award, which includes both leagues, is determined by a vote of major league players. There were 270 ballots cast, and Trout was named on 134 ballots. Players can’t vote for their teammates.This is the first time that Trout has won this particular award. Trout is a two-time winner of the Hank Aaron Award, including 2014. Newsroom GuidelinesNews TipsContact UsReport an Error
EUREKA >> As he looked at his team’s schedule before the season began, St. Bernard’s head coach Matt Tomlin knew there were two games for the Crusaders to show their worth to the North Coast Section seeding committee.Following Saturday afternoon, Team Tomlin is 2-0 in said circled contests.Four different players scored touchdowns to lead a balanced Crusaders offensive attack as St. Bernard’s won its second straight game thanks to a 34-21 victory over Del Norte at a sun-splashed Crusader …
The slumping Bellinger, who … By BETH HARRISLOS ANGELES (AP) — By the time Manny Machado rounded third base, the Los Angeles Dodgers had already started streaming out of the dugout.After more than five hours of tension-filled baseball, they were certainly eager to celebrate.Cody Bellinger singled home the winning run with two outs in the 13th inning Tuesday night to give Los Angeles a 2-1 victory over the Milwaukee Brewers that tied the NL Championship Series at two games apiece.
Local marketsBy close of day on Friday, the JSE had gained 1.25% led by gold mining shares, which rose 6.15%.Resource shares ended 2.17% higher, while financials rose 0.89% and industrials climbed 0.87%.Total value traded came to R 10,476,429,633, while 155,696,176 shares were exchanged today.The rand was trading on the R10 mark at 5pm, while gold edged up 0.10% to sell at $1367.60 an ounce.International marketsUS markets were making a recovery before the weekend, offsetting losses from earlier in the week after data showed an increased number of new home builds last month.By 5pm SA time, the Dow Jones had inched up 0.15%, the S&P 500 had lifted 0.11% and the Nasdaq had gained 0.36%.European markets were mixed, with losses in airlines eroding gains in mining shares. The DAX had dipped 0.06%, the CAC40 had risen 0.29% and the FTSE 100 had lost 0.07%.Share price newsIn the top spot at market close was Goliath Gold Mining (GGM), whose shares climbed an almost unbelievable 95.45% to sell at R2.15 after three deals sold 8,300 shares. Witwatersrand Consolidated Gold Resources (WGR) rose to R9.50 a share after investors traded 21,095 shares in 7 deals, resulting in a 15.15% gain in share price.Also in the gold mining sector but the biggest mover downwards, Central Rand Gold (CRD) fell 16.13% after 2,500 shares were exchanged in one deal, sending the share price sliding to R1.30 at 5pm. In second place was Poynting Holdings (POY) on the ALTX whose shares fell to R1.52 after 10 deals traded 22,200 shares, a loss in share price of 6.75%.
Premier League Alexis Sanchez shirt sales smash Man Utd records Kris Voakes Man Utd Correspondent 21:57 2/8/18 FacebookTwitterRedditcopy Comments(3) Getty Images Premier League Manchester United Newcastle United v Manchester United Newcastle United A. Sánchez The Chilean’s number seven shirt has already been a massive hit, with the club shifting three times as many as the previous January transfer record Sales of Alexis Sanchez shirts smashed the previous Manchester United record after his January arrival, executive vice-chair Ed Woodward has revealed.Sanchez signed for United in a swap deal which saw Henrikh Mkhitaryan leave for Arsenal during the winter transfer window and the 29-year-old’s commercial impact was immediate.As Woodward explained on Thursday: “Alexis Sanchez has set a new January signing record in terms of shirt sales, three times the previous record.” Article continues below Editors’ Picks Lyon treble & England heartbreak: The full story behind Lucy Bronze’s dramatic 2019 Liverpool v Man City is now the league’s biggest rivalry and the bitterness is growing Megan Rapinoe: Born & brilliant in the U.S.A. A Liverpool legend in the making: Behind Virgil van Dijk’s remarkable rise to world’s best player Woodward was speaking during a conference call with investors following the publication of the club’s second-quarter reports for 2017-18 and he added that the Sanchez-Mkhitaryan swap captured the imagination of supporters across the internet like never before too.“This trade generated some interesting social media stats,” Woodward said. “It was the biggest United post on Instagram with two million likes and comments, the most shared United Facebook post ever, the most retweeted United post ever, and the hashtag #Alexis7 was the number one trending topic on Twitter worldwide.“To put that into context, the announcement posts generated 75 per cent more interactions than the announcement of the sale of the world’s most-expensive player last summer when Neymar moved from Barcelona to Paris Saint-Germain.”There was also good news for the entirety of the Premier League, with the United chief explaining that the English top flight continues to grow as a broadcasting giant.“Reports of the death of live sport are greatly exaggerated,” Woodward commented. “I’ve just come from a Premier League meeting where research shows that the league’s global cumulative audience has increased nine per cent year-on-year, with particularly strong increases in Asia and North America.”The league’s broadcast deal is set for revision following the 2018-19 season, with the bidding rights process set to come to a close soon, as Woodward explained.He said: “I need to be careful around this as it’s a very sensitive point in time because the first round of domestic bids are due in on Friday, and all I can really say is that if you look at past history we would expect that the entire process of selling the domestic rights will conclude in a relatively short period of times, within a couple of weeks.”A winter break is being considered as part of the talks over the next TV deal, with a Premier League statement this week saying: “The Premier League has been in discussions with the FA and EFL for several months regarding the challenges of the increasingly congested English football calendar and ways in which we can work together to ease fixture congestion while also giving players a mid-season break.“Provided space can be found in the calendar, we are open to this in principle and will continue constructive discussions with our football stakeholders to seek a workable solution.” Check out Goal’s Premier League 2019-20 fantasy football podcast for game tips, debate and rivalries.
TagsTransfersAbout the authorPaul VegasShare the loveHave your say Bayern Munich president Hoeness won’t shut down plans for Man City attacker Saneby Paul Vegasa month agoSend to a friendShare the loveBayern Munich president Uli Hoeness says they remain keen on Manchester City attacker Leroy Sane.Bayern pushed hard to sign the Germany international over the summer before he suffered a knee injury in the Community Shield against Liverpool.However long-term, Hoeness says they remain keen.He told Planet Futbol: “We were very interested, we had talks with him. But after his bad injury we could not continue. “We have to wait and see how his recovery is going. In January or February, the new people in the club will sit down and think.”
Alexandria: US President Donald Trump’s former campaign chief Paul Manafort was sentenced to 47 months in prison on Thursday for tax crimes and bank fraud in the highest profile case yet stemming from Special Counsel Robert Mueller’s Russia investigation. It was the stiffest prison sentence given so far to an associate of the president in Mueller’s probe into alleged Russian interference in the 2016 election but was significantly lighter than many expected. Judge TS Ellis said the 69-year-old Manafort had committed “very serious crimes” but he rebuffed arguments by prosecutors from the Special Counsel’s office for a longer sentence. Advisory sentencing guidelines called for a prison term of between 19 and 24 years but Ellis dismissed that as “excessive” and disproportionate to what other defendants have received for similar crimes. “The government cannot sweep away the history of all these previous sentences,” the judge said. Manafort was convicted in August of five counts of filing false income tax returns, two counts of bank fraud and one count of failing to report a foreign bank account. Prosecutors alleged that Manafort used offshore bank accounts in Cyprus and other countries to hide more than USD 55 million he earned from political consulting services he provided to Ukrainian politicians. The money was used to support a lavish lifestyle which included purchases of luxury homes and cars, antique rugs, and expensive clothes, including an USD 18,500 python jacket. His conviction was the culmination of a stunning downfall for a man who, in addition to Trump’s campaign, worked on the White House bids of Gerald Ford, Ronald Reagan, George H W Bush and Bob Dole. Speaking from a wheelchair and wearing a green prison jumpsuit with the words “Alexandria Inmate,” Manafort told the court before sentencing that his “life, professionally and personally, is in a shambles.” “I feel the pain and shame,” said Manafort, who the defense says suffers from high blood pressure and gout. “To say that I feel humiliated and ashamed would be a gross understatement,” he said. Imposing his sentence, Judge Ellis said he did not hear Manafort express regret or remorse but he said the sentencing guidelines were “way out of whack.” “I think what I’ve done is punitive,” Ellis said. He sentenced Manafort to a total of 47 months in prison for the eight counts and credited him with nine months of time served for the period he has already spent in prison. He ordered him to pay millions of dollars in restitution — the exact amount remains to be determined — and a USD 50,000 fine. Manafort still faces sentencing in a second case in Washington next week, where the maximum penalty is 10 years and the judge has appeared more sympathetic to prosecutors.