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Warwickshire in talks to join £9bn East Riding LGPS pool​

first_imgIn a report to Warwickshire’s investment sub-committee, treasury and pension fund manager Mathew Dawson argued in favour of closer cooperation with the three funds, as Warwickshire would have a “strong voice” in the management of the proposed pool.Dawson added that the partnership had shown an understanding of Warwickshire’s existing asset allocation, “particularly in the alternatives space”, citing its current approach to private equity and hedge funds.As of March 2015, Warwickshire had £79.7m, or 4.9% of assets, invested in a Blackstone Group-managed hedge fund mandate, and a further £31.1m of an agreed £60m private equity mandate invested with HarbourVest.Dawson noted that Warwickshire agreed to submit a joint response with the three funds after John Appleton, local councillor and chair of the investment sub-committee, met with his counterpart at Surrey County Council, two days after the Department for Communities and Local Government (DCLG) outlined criteria for asset pools.The joint response, due to be submitted to DCLG by 19 February, marks the first step in proposed asset pools gaining government approval.However, Dawson told IPE that, despite the joint submission, Warwickshire would continue talking to other potential asset pools.He stressed that the committee had, for now, only signed off a joint submission for the February consultation but not for the final consultation due next July.Warwickshire was one of two funds previously involved in a £6.5bn joint procurement exercise for passive equity and fixed income not to join the West Midlands pool.The second fund, the £3.1bn Leicestershire County Council Pension Fund, told IPE it was still discussing which pooling arrangement to pursue.A spokeswoman said its pensions committee would consider the available options in late January, allowing it to submit its initial proposal for the mid-February deadline set by DCLG.She added: “Until any decision has been made, we cannot comment further.” Warwickshire’s local authority fund may join the £9bn (€12.3bn) asset pool backed by East Riding, Surrey and Cumbria after deciding the partnership best understood its approach to alternatives.The £1.6bn local government pension scheme (LGPS) said it also met with West Midlands Pension Fund about joining its asset pool, which has attracted the backing of eight funds to date, worth an estimated £35bn.However, Warwickshire opted for the partnership with East Riding as the “most appropriate” solution currently availableIt has agreed to a joint submission with the three participating funds to make the case for the asset pool, now boosted to £10.5bn.last_img read more

FIFA wants uniform global use of VAR, says refs chief Collina

first_imgBy Simon EvansMANCHESTER, England (Reuters) – FIFA wants VAR video reviews to be applied in the same way across all competitions, as they take over direct responsibility for the system.Issues concerning VAR have been handled primarily by IFAB, the game’s law-making body, during the system’s two-year experimental phase and its introduction as part of the laws of the game.Soccer’s global governing body FIFA, however, took over the role of supporting competition organisers with the implementation of VAR from July 1.Pierluigi Collina, the Italian former World Cup referee and chairman of FIFA’s Referees’ Committee, told Reuters the move was a “natural transition”.“IFAB as an organisation has the duty to govern the laws of football, including VAR and the protocol and regulations. Once the laws of the game are set, IFAB’s job is over,” he said. “It is then FIFA that deals with referees’ education around the world supporting all the member associations.”Issues concerning VAR have been handled primarily by IFAB, the game’s law-making body, during the system’s two-year experimental phase and its introduction as part of the laws of the game.Soccer’s global governing body FIFA, however, took over the role of supporting competition organisers with the implementation of VAR from July 1.Pierluigi Collina, the Italian former World Cup referee and chairman of FIFA’s Referees’ Committee, told Reuters the move was a “natural transition”. “IFAB as an organisation has the duty to govern the laws of football, including VAR and the protocol and regulations. Once the laws of the game are set, IFAB’s job is over,” he said.“It is then FIFA that deals with referees’ education around the world supporting all the member associations.”There have been some variations in the use of VAR in different competitions and national leagues, but Collina said there should be a uniform approach. “Another responsibility of FIFA’s is to have the laws of the game implemented all over the world in the same way, there cannot be different implementation of the laws of the game in different continents or different countries. Our responsibility is to ensure that football is played in the same way all over the world.“Can you imagine in international competition played by teams who are used to having different interpretations of the laws of the game in their domestic competition? Saying that VAR should be used in the same way all over the world is something obvious.“Of course there can be some small differences, but the general implementation should be the same. “It is FIFA and IFAB’s responsibility to have the game played the same way across the world, for the benefit of those who are playing,” he said.The Premier League has not used VAR to check for encroachment off the line by goalkeepers during penalty kicks despite that element being part of the protocol.Speaking generally, Collina said FIFA wanted to avoid situations where players in an international tournament faced surprise decisions. “If something is written in the laws of the game, it has to be implemented everywhere, otherwise can you imagine the surprise of someone who is penalised for something in an international game that he is not penalised for at home?“Maybe they would not be aware of what they can do? If something in the laws of the game doesn’t work, then it is discussed and eventually changed by IFAB,” he said.last_img read more

Police search for women who went on shopping spree after stealing elderly victim’s wallet

first_imgThey then went to another store where they attempted to purchase several other items but the victim’s cards declined.Authorities are now asking for the public’s help in identifying the women. If you recognize either of these women you are asked to call St. Petersburg Police at 727-893-7780. Reference report# 2019-050215 The St. Petersburg Police Department is currently searching for two women who reportedly stole a wallet from an elderly woman and then went on a shopping spree.The incident was reported on November 15th.Authorities say the 75-year-old victim was shopping for groceries when the women somehow gained access to the victim’s wallet. The women immediately went to another store where they purchased $5,000 worth of electronics and gift cards.last_img read more

Ex-Miccosukee cop is sentenced after forcing teens to strip naked

first_imgA former Miccosukee Police officer has been found guilty of forcing two teens to strip naked during a traffic stop back in 2016.Michael Martinez pulled over 18-year-old Kyle Shoulta, and Remy Riley near mile marker 48 of Alligator Alley, for running a stop sign. He then offered them a deal to run naked and avoid jail time.Martinez appeared in court and was found guilty on two counts of extortion and two counts of unlawful compensation. He has been sentenced to 10 years.last_img