Archive : 上海夜网WJ

Investors urged to ignore ‘key-man departure’ as PIMCO outflows hit $23bn

first_imgThe shock departure led to the swift appointment of Daniel Ivascyn as the California-based manager looked to calm fears among investors and stem outflows from Gross’s former flagship fund.PIMCO confirmed that its September net outflows from the $211bn (€167bn) Total Return Fund hit $23.5bn, with the largest daily outflow happening immediately after Gross’s resignation was made public.However, the company also stressed that outflows on the following two days were significantly lower.Aegon’s analysis showed other key-man departures had little impact on the institutional and retail funds they managed, with some new managers outperforming their predecessors.It highlighted UK asset manager Schroders’ loss of Richard Buxton from its UK Alpha Plus fund, who left the firm after 11 years. Buxton’s replacement Philip Matthews still managed to achieve 2.8% above benchmark for the fund.The manager’s European Opportunities fund, managed for 11 years by Chris Rice until 2013, saw replacement Steve Cordell achieve returns of 5.3% above benchmark, higher than Rice’s annualised return in his time in charge.Other ‘key-man’ losses for Fidelity, Henderson and AXA Framlington also saw replacement managers stabilise the funds and achieve above-benchmark returns.Dixon said investors considering exiting PIMCO’s previously coveted fund should strongly evaluate their decisions before moving assets.“Bill Gross has left a distinct investment DNA at PIMCO, with talented analysts and a strong team culture,” Dixon said.“These qualities will endure for many years after Gross’s departure and should be reflected in PIMCO’s future performance.“It is also important to think hard about the costs associated with moving money – potential fees, out of market risk and missing likely gains from existing funds. Investors must weigh up the benefits with the costs and remember that often the wisest move may be to stay put.”At PIMCO, Gross’s shock departure is only a continuation what has been a turbulent period for the bond house.Earlier this year, then chief executive Mohammed El-Erian stepped down, raising questions about the expected succession plan for the 70-year-old Gross.Since the start of the year, outflows from the Total Return Fund have been consistent, as investment performance began to slide on a short-term basis.This was capped by the eventual departure of Gross, which sent shockwaves through PIMCO and its investors. Gross will begin managing an unconstrained bond portfolio at Janus on Monday.In an update to investors, PIMCO said: “As we engage our clients around the world, we are confident the vast majority of them will continue to stand with PIMCO as we demonstrate why we have earned the reputation as one of the world’s premier investment managers.” Bond investors in PIMCO’s Total Return Fund are being urged to remain loyal to the fund after Bill Gross’s departure after new analysis showed detriment to investments after leaving.Data from Aegon, the Dutch insurance firm, showed nine from 11 funds still outperformed benchmarks even after the departure of a significant fund manager.Aegon’s investment director, Nick Dixon, said investors in Gross’s former funds should “think carefully” before making any snap redemption decisions.The analysis was done after Bill Gross stepped down as CIO at PIMCO, a company he started in 1971, and left to manage a new, much smaller bond fund at Janus Capital Management.last_img read more

Wellington Police Notes: Wednesday, April 23, 2014

first_imgWellington Police notes for Wednesday, April 23, 2014•8:08 a.m. Officers took a report of a general public assist in the 200 block E. Harvey, Wellington.•1:17 p.m. Officers investigated a theft in the 2000 block E. 16th, Wellington.•3:38 p.m. Officers conducted an agency outside assist in the 1300 block N. A, Wellington.•5:32 p.m. Dean A. Dudek, 47, Arthur Wellington, Texas was issued a notice to appear charged with disobeyed traffic signal and defective tail lights.•6:47 p.m. Mark J. McClure, 44, Oxford, was arrested and confined on a Sumner County Bench Warrant for probation violation.•On April 18, at 10:58 p.m. Christopher M. Eckermann,  23, Wellington was issued a notice to appear for careless driving.last_img

Edmonton Oilers’ Leon Draisaitl, Connor McDavid just cannot stop scoring

first_imgMORE: What makes the Draisaitl and McDavid duo so good?In fact, the pair barely post games with just one point or none; McDavid has gone only 12 games with such numbers, and Draisaitl nine — not to mention, the Cologne, Germany, native has gone scoreless in just two games through his campaign so far.As of right now, the only thing we can do is wait and see if they can keep it up. But right now, the numbers show that they’re the hottest combination the league has right now — and has seen in a long time. We’re 22 games into the 2019-20 campaign, and absolute NHL ridiculousness is in bloom in Edmonton as Oilers forwards Connor McDavid and Leon Draisaitl cannot stop scoring — and it makes us wonder if they really are human.The duo combined for five points in Saturday’s 5-4 overtime loss to the Dallas Stars and is now producing at 3.77 points per game, having already combined for 83 points through 22 games this season. Edmonton is also benefiting greatly, as the team leads the Pacific Division with a 13-6-3 record and 29 points on the season. “[Draisaitl’s] a fun guy to play with,” McDavid said earlier in the season of his linemate. “Obviously, he can shoot it or pass it and play any type of game you want him to play. Great teammate, we’ve played together a lot over the years and I like where our chemistry’s at.”WATCH: McDavid nets second hat trick of week, six points vs. ColoradoTheir on-ice synergy is something of a fine art, analogous to rock music that goes by the beat of a different drummer.First off, the Oilers’ captain’s performance, which combines speed, outstanding hands and vision, is helping him producing at the rate of 1.81 points per game. He has nine points over his last two games and 14 over his last five to move up the stat sheet and all the way up to second behind Draisaitl in the NHL scoring race.This season, he’s already hit the 400-point mark of his NHL career with 412 points in 309 career games, with three straight 100-point seasons. His performance thus far puts the 22-year-old on pace for a fourth-straight 100-plus point campaign with 141 points.Okay, Connor McDavid (@cmcdavid97). WHAT PLANET ARE YOU FROM?— NHL (@NHL) November 11, 2019No one’s surpassed the 140-mark since Mario Lemieux, who had 161 points in 1995-96.Now, Draisaitl. The “Deutschland Dangler” takes advantage of a lethal shot, great passing and hockey IQ shift by shift.  Some may have been wary of signing the winger to a long-term, multi-million dollar extension that pays him a hefty $8 million over eight seasons, insinuating that it was possible his success was due in large part to McDavid.He’s proven this season — and over the last few years to boot — that that’s far from the case. After registering his first 100-point season last year, his star-studded 2019-20 campaign has him at a league-leading 43 points as he also rides a 12-game point streak. Besides his Oilers counterpart, Draisaitl has 11 points over the next leading scorer in Brad Marchand, who has 32 points in 19 games heading into Saturday night.1️⃣2️⃣-game point streak has been extended for Leon Draisaitl!— NHL (@NHL) November 16, 2019Draisaitl’s scoring at a rate of 1.95 points per game, which sets him up to record 160 points this season.In total, he and McDavid are on pace to combine for a grand total of 301 points this year, as the Oilers look to put past seasons of demons and disappointment behind them and potentially return to the postseason for the first time since 2016-17 — and the third time in the last 14 years.With each game that passes, many wonder if they can keep up the pace; after all, those numbers just seem. . . too high, right? Well, it’s over 25 percent through the season already, and they’re both proving capable of multi-point performances on a nightly basis.last_img read more

GVL to Move Headquarters to Sinoe

first_imgGVL’s core operation is concentrated in its concession areas in Sinoe (pictured) and Grand Kru countiesGolden Veroleum Liberia (GVL) says it will move its headquarters to Sinoe County at the end of July with several staff members in Monrovia reassigned to the new headquarters, and sub-offices in Grand Kru County. The GVL will maintain a representative office in Monrovia, a press release said yesterday.The move is part of a longstanding plan in fulfillment of GVL’s commitment, which seeks to work with Liberians to take headquarters, real industries and factories to rural communities in southeastern Liberia. As part of the move, GVL will make available transportation from Monrovia to the assigned counties and accommodation for employees.GVL’s core operation is concentrated in its concession areas in Sinoe and Grand Kru counties, in compliance with government’s decentralization scheme.The company is expecting various government services to be made more available in Sinoe and Grand Kru counties. It is the hope of GVL that banking, telecommunications, and other social services will be standardized to be able to greatly support GVL operations in Sinoe and Grand Kru counties, the release indicated.GVL operates a mini mill with an operating capacity of 5 tons per hour. The company’s main mill is expected to be commissioned in July. When completed, the mill will be the largest oil palm factory in Africa the press release stated. GVL believes oil palm – which has its origin in West Africa – is being brought home through large scale investment and with huge benefits for Liberia.In 2009, GVL started exploring opportunities to operate in Liberia with the goal of helping the Liberian government to reduce poverty through the provision of jobs, community development, education, and health. Bearing in mind such a commitment, GVL is making hope a reality in the Liberian southeast, the release stated.Up-to-date, GVL says it is the largest user of the Samuel Alfred Russ Port in Greenville, Sinoe County, and the biggest private sector employer in the southeast of Liberia. At least 3,600 Liberians are currently in the employ of Golden Veroleum Liberia. GVL seeks to employ 35-40,000 employees when fully developed in Liberia, the press release said.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

National Basketball League: Buoyant UCU Canons, Feeble Nkumba Marines face-off

first_imgNkumba Marines exchange ideas during a past encounter. Courtesy photo.Nkumba Marine’s elusive return to the demanding confines of the top tier National Basketball league has been a jarring experience at least if their frail run of form is put into consideration.The Timothy Odeke-coached side has struggled severely, losing six games and wining only two (2-6 run), a poor run that has left them languishing in the lower echelons of the league table.And there hardly any signs that suggest their fortunes are about to change soon with a date with a buoyant UCU Canons side tonight at YMCA. It will require efforts of monumental proportions for Timothy Odeke’s charges to upset an heightened level of opposition in a stature of on-form UCU Canons.Marines’ problems were further compounded when star forward Malvin Midaki limped through the closing stages of the game against KIU Titanson Sunday, and if not passed fit, then the Nkumba based side will seek inspiration from Brain Sivachi and Wilson Otweyo. The pair, who are supposedly meant to be the virtual cogs in The Marines’ sinking ship have failed to get their mojo back putting in below bar performances thus far.Red Hot CanonsAfter losing three of their opening six games, The Mukono-based side have gone on wining spree of up to four games in succession negotiating their way past UPDF Tomhawk, ,JKL Dolphins, Falcons and Ndejje University Angels. Admittedly, the three losses came against Unbeaten Pemba Warriors, and the pair of title hopefuls KIU Titans and Betway Power. Canons, who boast a 6-3 run will be desperate to win and take their winning streak to five games.In Brian Namake, Fadhili Chuma and Joas Maheta, Coach Nick Natuhereza boasts the ammunitions to inflict damage to a feeble Marines side, while Guard Stephen Wundi and small forward Jonathan Egau, who are averaging 14.1 and 13 points respectively can also add poise and guile to a seemingly strong Canons roaster..Wednesday @ YMCA Nkumba Lady Marines VS UCU Lady [email protected] Canons Vs Nkumba Marines @8pmCommentslast_img read more