Strathclyde returns 13.4% on strength of equity holdings

first_imgStrathclyde Pension Fund (SPF), the UK’s largest local government pension scheme, with £15.8bn (€22.1bn) in assets, made a 13.4% investment return for the year to 31 March.This compares with 13% for the benchmark and 8% for the previous year, and brings average annualised returns for the past five years to 8.6%.Within the equity allocation, the best performers were Japanese stocks, which returned 31%, and North American (23.7%) and Pacific ex Japan (18.6%) equities.The private equity portfolio made gains of 14.8%. The best-performing fixed income class was UK index-linked Gilts, which made 21.1%, compared with UK Gilts (13.9%) and UK corporate bonds (13.1%).Absolute return strategies within fixed income returned 3.3%, while the property portfolio made a return of 17.9%.At end-March 2015, equities made up 74.6% of the portfolio (compared with a strategic benchmark of 72.5%), while 12.2% was in bonds (underweight the 15% benchmark), 10.6% in property (compared with the 12.5% benchmark) and 2.5% in cash.The report on short to medium-term investment performance said: “Global equity markets have performed well relative to bond markets in recent years, so the fund’s equity bias has helped performance, and absolute performance over all periods has been strong. Property markets have also seen a period of recovery.”But it added: “Underperformance by some equity managers and the cost of turnaround and build-up of the fund’s property portfolio has detracted from returns over the five-year period.”SPF, administered by Glasgow City Council, is 94.3% funded, according to the latest triennial revaluation.The Council’s pensions committee is currently reviewing the fund’s investment strategy.Four alternative strategies are under consideration to improve downside risk, produce more efficiency and improve confidence in reaching the funding target.In the interim, SPF is working towards a target allocation of 5% for its new opportunities portfolio, which includes infrastructure, finance and alternatives.Four new commitments approved in June include two wind funds, and private debt and trade credit funds.last_img read more

Osborne lands Lincoln County win

first_imgBy Kelly NinasNORTH PLATTE, Neb. (Aug. 5) – Colton Osborn took the lead on the 12th circuit and then drove his way through lapped traffic to win the IMCA Modified feature Saturday at Lincoln County Raceway.Osborn had started seventh and worked the low groove to put himself in position to make the pass for the lead. Osborn slipped past early leader David Murray Jr., who led the initial 11 laps before falling back to second.Casey Werkmeister was the IMCA Sunoco Stock Car winner and Luke Wassom led the distance in the IMCA Sunoco Hobby Stock main.Jamey Kennicutt led from lap three to the Karl Chevrolet Northern SportMod checkers while Erik Nelson returned to North Platte to pace the Mach-1 Sport Compacts.last_img

Kiron goes global with AGTech deal

first_img Betgenius expands virtual sports range with Kiron August 20, 2020 Virtual games provider Kiron has agreed to integrate its virtual games offering into the AGTech platform after the duo secured a new ‘global collaboration agreement’.Under the partnership, the two have agreed to distribute the parties’ respective products internationally. Kiron’s content will be made available to AGTech’s client base across Asia, Latin America and Africa, with plans to implement the products across a variety of delivery channels in each territory.Steven Spartinos, co-CEO of Kiron, said: “Our partnership with AGTech will provide a springboard for growth globally and we are looking forward to partnering with them and rolling out our virtual portfolio to their clients in key international markets.“Our offering provides a broad range of virtual sports and number games that have proven appeal in a multitude of markets. This partnership demonstrates the growing appetite for our portfolio on a global basis.”Kiron’s offering will include football, racing, as well as a range of localised sports and numbers games. The games will be integrated into AGTech’s new platform and offered alongside the equivalent real sports markets.Charlie Zhang, VP of AGTech, added: “Kiron’s virtual offering delivers on all counts, from the graphics and visuals to the broad range of rapid-play betting experiences available 24/7.“Our goal is to deliver the best content available in the market as a B2B service provider to our partners and launching Kiron’s portfolio will add an extra dimension to our latest product portfolio.” Kiron extends Nordics presence with Complianza deal July 22, 2020 Related Articles Kiron goes live with Unibet May 7, 2020 StumbleUpon Share Share Submitlast_img read more