Denmark’s DKK50bn (€6.7bn) pension fund Lønmodtagernes Dyrtidsfond (LD) has said it expects to see tough competition between asset managers for the DKK23bn of fixed income mandates it is putting out to tender.Lars Wallberg, LD’s director of finance, said: “We have worked on our investment strategy over the last few years and varied our expectations slightly for the bond portfolio.”LD will target a high level of safety in the portfolio, he said, to avoid exposure to credit risk and price volatility.At the end of April, the fund issued invitations to tender for two DKK9bn Danish high-grade bond mandates and one to tender for a Danish short-term bond mandate. This followed two invitations to prequalify for the investment management of a European corporate investment-grade bond mandate and a global inflation-linked bond mandate. LD said both Danish and foreign managers had the opportunity to make offers to provide investment advice on the mandates that the scheme has now put out as an EU tender.Wallberg said the two mandates for gilt-edged bonds and the mandate for Danish short-term bonds would require a high level of knowledge of Danish bonds, adding that this meant the number of managers applying for the business was likely to be relatively limited.But he said he expected tough competition among managers because these were large, attractive mandates.LD, which receives no current contributions, manages cost-of-living allowances that were granted to public sector employees in the past.Meanwhile, the Danish financial regulator has given PFA’s asset management arm an official order and criticised the firm for paying too much for services from another part of the PFA group.The Danish FSA (Finanstilsynet) ordered PFA Kapitalforvalting (PFA Asset Management) to ensure the agreement with PFA Pension to receive various administrative services includes fees that are set at market rates.The order was given following a routine inspection of the firm.The regulator said: “It is the FSA’s judgement that the company has not focused sufficiently on the fee for services that are included in the administration agreement, and that the fee is high.”It said this meant there was an increased risk the agreement had not been made according to market rates.PFA said it would follow the order but insisted the fee had been in line with the market.In a statement, PFA Kapitalforvaltning directors Jesper Langmack and Poul Kobberup said: “We will obviously listen to the FSA order and in future ensure we can account for the fee in detail, which we believe to be market-based.”They also said they had tried to ask the FSA what it believed would be a correct level of fee, but the authority had not given it an indication of this.Separately, PenSam said it and Topdanmark were jointly investing DKK600m in a residential development of 400 flats in Aarhus.Construction of the planned development in the city’s new harbour-side quarter known as Aarhus Ø is about to start, PenSam said.The first 120 apartments are expected to be ready for occupation in October 2015.Benny Buchardt Andersen, PenSam’s investment director, said: “It is positive that we as a pensions company can support the development of Aarhus by creating attractive homes, which will provide value now and in the future.”He said the investment would mean more employment, high-quality homes for the city and a good return for PenSam’s customers.NCC Construction is to be the lead contractor for the project.Lastly, Industriens Pension said it was making its first property investment in the Aarhus area, putting DKK140m into a new office building currently under construction in Skejby to the north of the city.The property is already pre-let on a 10-year lease to the Danish IT company EG.The pension fund said it would take over the property in the spring of 2015 when it was completed and the tenant had moved in. The property was just under 12,000m2 in size and included underground parking, Industriens said.Peter Frische, head of real estate investment at the labour-market pension fund, said: “This is a modern, flexible and well-located high-quality property with a good tenant and a long lease. The investment will contribute to securing a good and stable long-term return for our customers.”Industriens said it planned to invest DKK5bn over the next few years in Danish property. It currently has DKK2.8bn invested in property funds, primarily abroad. This compares with its total investments across asset classes of DKK118bn.
In the world of sports, boxing has ranked pretty low in the state of Minnesota. The Land of 10,000 Lakes has the NFL’s Vikings, MLB’s Twins, NBA’s Timberwolves, NHL’s Wild and fishing, after all.But the sweet science has seen a resurgence there over the last calendar year, thanks to resident fighters Rob Brant — the WBA (regular) middleweight champion — Caleb Traux — the former IBF super middleweight champion — and rising welterweight contender Jamal James. Join DAZN and watch more than 100 fight nights a yearTraux fights in his home state on Aug. 31 in a rematch against Peter Quillin, but James is up first, headlining a Premier Boxing Champions event on Saturday vs. former lightweight titleholder Antonio Demarco at The Armory in Minneapolis (8 p.m. ET, Fox Sports 1).James returns to compete in his backyard for the fourth consecutive time, winning his three contests there, two via stoppage. The 30-year-old has seen the surge in popularity of the sport in the state, and is proud to help lead the charge.”It’s huge because I’m one of the parts helping to build the scene back up in Minnesota along Caleb Traux and Rob Brant,” James told Sporting News. “Being able to fight at home, right in downtown Minneapolis at The Armory means the world. It’s really hospitable, and the fans are really getting behind us. For me, it’s just amazing because I know that people are coming to see me. Realizing that makes me work harder, train harder, and fight harder.”Having the motivation to do what you love shouldn’t be extraordinarily tricky when you choose to do it for a living. Getting the opportunity to ply your craft at home, however, brings the intensity to another level that’s hard for some to understand.”It’s just the fact of knowing all the people are coming to see you,” James told SN. “Your friends and your family are coming to see you, and all the fans in the arena are from your hometown. You don’t want to lose at all. Don’t get me wrong, you don’t want to lose any fights, but you definitely don’t want to lose at home in front of your people. You want to be able to put on a good show, and the fans can know when the night ends that they enjoyed being because of what you did. After the fight ends and do all the interviews, you can go into the crowd and talk to your family, friends, and fans.”MORE: Demetrius Andrade masterful again, but still no fights with Canelo, GGGJames has had a successful career in both the amateur ranks, where he was the runner-up in the National Golden Gloves, and in the pros, where he currently sits at 25-1 with 12 knockouts. The only thing eluding him is a shot at a world title in the talent-rich welterweight division, led by IBF champion Errol Spence Jr., WBC titleist Shawn Porter, WBA champion Keith Thurman, WBO titleholder Terence Crawford and eight-division world champion Manny Pacquiao.”Shango” hasn’t been able to break through to this point. But he feels that, if he continues to do what he’s been doing, his lifelong dream will come true. None of it happens without beating Demarco.”Just keep winning and getting my name out there,” James said. “With that said, I’m ready now for a title fight. But I have total trust in my management team, Al Haymon and his team. He and his team have done amazing things for my family. When I get inside the ring, I need to put on a show and make my case as to why I should be in there fighting for a title against one of the champions.”People like to see fan-friendly fights. As long as I win and do it excitingly, then my name will be at the tip of people’s tongues and get those title shots. We provide a service to the fans. I just need to continue to stay humble, stay focused, give 100 percent, and the time will come. After this fight on Saturday, I will see what they have in store. I think a win over DeMarco does it for me.”
Submitted to Sumner Newscow â€” This year’s service day will be on Wednesday, April 22 – Earth Day! Â The Wellington Leadership team will be serving in a number of ways around the community, including a few new ones.Â Sophomores, Juniors, and Seniors will be placed off campus, while freshmen will be working at WHS on a variety of projects.The one project the leadership team really needs some help with is a project regarding hunger in Wellington.“We will be working on a meal packaging event to benefit the Meals-on-wheels-for-kids summer program,” said Karla Defore, Wellington Leadership instructor. “Students will be working assembly line style to package meals for children in Wellington who may not have access to meals in the summer time. Â The leadership team will be working with Outreach, Inc (outreachprogram.org) to package high quality, easy to prepare meals for children.The cost is only $0.25 per meal.Â We have a goal of providing 8000 meals at a cost of $2000.Â If you could put this message out there for the community, we would really appreciate it.Â Individuals, businesses, or organizations may donate.Â They can make their checks payable to WHS Leadership.“If we should happen to raise more money than our goal we plan to donate the excess to the Wellington Food Bank,” Defore said.If you have any questions about our meal packaging event or about Service Day, please feel free to email Defore atÂ [email protected] us on Twitter. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments