UK asset manager body rejects FRC’s proposed stewardship definition

first_imgThe IA has suggested the definition be reworded to state that “stewardship involves the responsible allocation and active oversight of assets by different actors across the investment chain to generate sustainable value for beneficiaries. Effective stewardship should lead to long-term benefits for society and the economy.”Sustainable value meant sustainable over relevant time horizons for beneficiaries, which were both short and long term, the IA said.The association said this definition respected asset owners’ and asset managers’ fiduciary duty but also recognised “the interdependence between good stewardship and benefits to society and the economy over the long term”.Index investing and stewardshipThe association also argued that the draft code was biased towards active management.“It assumes that good stewardship can only be achieved by active management, when in fact stewardship forms an essential component of both index and active management strategies,” it said. The draft code did not place enough emphasis on investors communicating the impact of their stewardship – as opposed to policies and processes – and certain provisions “conflated” the roles and responsibilities of asset managers and asset owners, the IA said.“This may deter asset owners from becoming signatories to the code,” it added.However, the association welcomed the overall direction of the changes, including the intention to set more demanding expectations on asset owners, its extension to cover more asset classes, and the aim to explicitly reference environmental, social and corporate governance factors.Andrew Ninian, director of corporate governance at the IA, said: “Unfortunately, the implementation of the new code falls short on several key areas that are crucial to building a better stewardship market.“If these concerns are not addressed, then they will hamper the development of a stewardship market that delivers for savers and investors as well as for the wider economy.”Asset owner ‘resource’ concernsThe UK’s pension fund trade body said it supported the general shift in approach in the proposed code and the move to pitch it at “a more stretching level”, but warned that it could deter asset owners from becoming signatories.The Pensions and Lifetime Savings Association suggested this would be because of concerns about “the resource implications of full compliance” rather than a lack of support for and application of the existing code’s provisions.“We believe that a way should be found to encourage asset owners to express their support for, and commitment to, the aims of the Stewardship Code which also allows for the resource constraints of many schemes and acknowledges that schemes often delegate activity on stewardship issues to their managers,” it said.The FRC, which oversees the Stewardship Code, is due to be replaced by a new body called the Audit, Reporting and Governance Authority. The definition of stewardship proposed by the UK’s Financial Reporting Council (FRC) conflicts with asset managers’ and asset owners’ fiduciary duty, according to the country’s asset management trade body.The Investment Association (IA) said the way the FRC defined stewardship in its updated Stewardship Code would “hinder rather than promote the development of an effective market for stewardship”.The IA suggested that with “careful redrafting” this and a few other shortcomings could be rectified to allow the code to deliver on expectations.In the draft 2019 stewardship code, stewardship is defined as “the responsible allocation and management of capital across the institutional investment community, to create sustainable value for beneficiaries, the economy and society”.last_img read more

Football: Chryst believes Wilcox is ‘great fit’ as new defensive coordinator

first_imgWhen asked about his new defensive coordinator Justin Wilcox in a press conference Monday, University of Wisconsin head football coach Paul Chryst said the same thing time and time again to describe Wilcox.“I really do think it’s a great fit for our staff and for our players and for this program,” Chryst said.That “great fit” that Chryst described numerous times has some big shoes to fill after the highly-touted and successful defensive coordinator Dave Aranda left to take the same position at LSU.Football: Wisconsin to hire Justin Wilcox as new defensive coordinatorThe Wisconsin football team is close to finalizing a deal to hire former University of Southern California defensive coordinator Justin Read…But for Wilcox, he’s not going to let those lofty expectations affect how he approaches the job.“I think when you start adding in external things you might lose track of what’s really important and that’s just preparing the team as best you can,” Wilcox said. “There are great coaches on the staff, again, I’m just a piece of it.”Any adversity Wilcox may see in his first season as the Badgers new defensive coordinator will be nothing that he hasn’t seen before.After finding success as a defensive coordinator at Boise State, Tennessee and Washington, Wilcox hit a rough patch when holding the same position at USC for the past two seasons. Not only was his head coach Steve Sarkisian forced to step down due to substance abuse problems, but Wilcox was also fired before the team’s bowl game.Wilcox, however, is looking at the situation he’s been in optimistically. He’s embracing it as just another chapter in his life, and he is more than ready for what is to come next.“That’s life in general,” Wilcox said. “Rarely do [things] go exactly how you planned them to go, so it’s when you do have a little adversity here or there that really makes you who you are.”In terms of what Wilcox is expected to bring to the team’s defensive system, Chryst hopes he will bring in a similar strategy to that of Aranda.Not only does the new defensive coordinator plan on implementing the same 3-4 defensive scheme that Aranda had in place, but the two also have a history together, according to Wilcox.When Aranda was coaching at Hawaii and Wilcox was at Boise, they had been in constant communication for a number of years and shared thoughts regarding “football things.”“I watched a lot of tape, we had shared ideas and things like that,” Wilcox said. “There is a lot of similarity. Some of the language may differ a little bit, but they played excellent defense. There is no doubt about it.”And while the current and former defensive coordinators see eye-to-eye, Chryst believes that he and his new assistant see eye-to-eye as well.Wilcox was not on top of the head coach’s list of potential replacements once Aranda told Chryst he was leaving, but Chyrst had heard enough about Wilcox that he wanted to find out more.What he found out was that Wilcox was a “great fit” for what he and the program were looking for.“The more I talked to people, and specifically when I talked to Justin, I got more energy,” Chryst said. “I’m excited for him to be coaching our kids.”last_img read more

Evergreen President Stepping Down in 2015

first_imgFacebook0Tweet0Pin0 Submitted by The Evergreen State CollegeThe Evergreen State College President, Les Purce, will retire in 2015.Dr. Thomas L. (Les) Purce announced today he will step down at the end of August 2015 from his position as president of The Evergreen State College, where he has served since July 1, 2000.  He is the longest serving president among Washington’s public baccalaureate institutions.“Serving as Evergreen’s president continues to be one of the great joys of my life,” said Dr. Purce.  “The college is fortunate to have extraordinary faculty, staff and students.  We have accomplished much together.”“Les has made an enormous contribution not just to The Evergreen State College, but to higher education in this state and across the nation,” said Keith Kessler, chair of Evergreen’s board of trustees. “Under his leadership, Evergreen has updated and enhanced its buildings and technology, sustained the vitality of its distinctive interdisciplinary approach to teaching and learning, continued its service to students from a wide range of economic and social backgrounds, and adapted to drastic changes in state funding for higher education. Les has been an effective leader, ambassador and champion for the college and its students.”Evergreen’s board of trustees will begin a nationwide search process in May 2014.Since opening its doors in 1971, the college has become nationally recognized for its innovative academic programs that combine subjects that are traditionally taught separately.  America’s top college guides regularly rank Evergreen as one of the nation’s best institutions for its strong academics, nurturing community and reasonable cost.  Sierra magazine and the Princeton Review have repeatedly named Evergreen as one of the top “green” colleges in the nation for its commitment to sustainability and achievements in sustainable practices, operations, academic programming and community outreach.Evergreen serves more than 4000 students at its main campus in Olympia, through its Tacoma program, and through a unique reservation-based program for Native American students at several locations around the Puget Sound.Prior to accepting the presidency at The Evergreen State College, Dr. Purce served as vice-president of extended university affairs and dean of extended academic programs at Washington State University in Pullman, Wash.   Between 1989 and 1995, Dr. Purce served in several roles at Evergreen, including vice president for college advancement, interim president and executive vice president.Before coming to Evergreen, Dr. Purce was at Idaho State University as special assistant to the president and director of the Research Park and economic development. Dr. Purce, an Idaho native, was the first black elected official in the state, serving as city councilman and then mayor of Pocatello. He later served as director of Idaho’s Departments of Administration and Health and Welfare. In the private sector, he served as partner and chief operating officer of Power Engineering Inc., one of the fastest growing electrical engineering firms in the Northwest.Dr. Purce holds a Bachelor of Arts degree in Psychology, a Master of Arts degree in Education, and a Doctor of Counselor Education from Idaho State University. He also attended Harvard University’s Institute for Educational Management. In May 2009, he received an honorary Doctor of Humane Letters degree from the University of North Carolina, Asheville recognizing his national work promoting public liberal arts. He will receive an honorary Doctor of Laws degree from the State University of New York at Geneseo on May 17, 2014.Dr. Purce served on the board of directors for the Association of American Colleges and Universities for two terms and is a past president of the Council of Public Liberal Arts Colleges board of directors. He currently serves as a board member for the Community Foundation of South Puget Sound, the Northwest African American Museum, and Washington Campus Compact. In addition, he is currently chair of the National Association of Intercollegiate Athletics Council of Presidents.Photo credit:  Photo courtesy of The Evergreen State Collegelast_img read more

Got to ski, but have no snow? Just “roll” with the punches

first_imgJust as stunt-based shows often start out their broadcasts with warnings not to try this at home, I feel it’s my due diligence to open this article by saying don’t do this at home and that my experience, pushing the limits on day one are not typical. Although I came back from my first roller skiing adventure, courtesy of Rossland’s Kootenay Nordic Sports, slightly thrashed and road rashed, my hopes for good times were not dashed. I’m an addict, I admit it. In the same week that a BC Day long weekend drive up to a Nelson area lodge yielded a summer ski run through a high altitude gully, an online posting about roller skiing caught my eye. I called up Dave Gibson from Kootenay Nordic Sports, and he graciously offered me use of a set of roller skis along with the instructional services of his daughter Sierra, an up and coming Nordic ski champ with her eyes on the prize for 2018.  We pulled onto Hannah Creek Road (just before the Teck fertilizer plan if you’re coming from Webster Elementary). This rarely-travelled route offers up smooth pavement along rolling, windy hills: a perfect location for roller skiers and long boarders alike.  The gear is familiar: regular, skating cross country ski boots, poles (preferably with rubber nubs on the ends), mountain bike gloves and a bike helmet. The skis, however, are something new. They consist of a skate ski binding mounted on a narrow platform between two wheels, longer and with larger wheels than roller blades. Clipping in for my first roll, I went through the progressions.  The first major difference is simply balance. Staying atop narrow inline wheels requires an added bit of thought.  Starting out pole-less, we slowly skated along the flats, maintaining the small V stance and simulating pole motions to nail the timing of the various styles. Several passes in, we added poles to the mix and went through single stride, double stride and offset poling. To this point, it is all very similar to cross country and along the flats felt quite natural.  Tackling the first small decline, poles tucked up under my arms, I began playing around with the skis a bit, working on balance, seeing how they react.  Typically, getting through all of these steps would be one heck of a first lesson. Going back to old school journalism, though, you’ve got to really live something before you can write honestly about it, no?  In passing Dave mentioned in a science-camp-beautiful dopplar shifting way that there was a washout on the far side of the next hill. Not super keen to coming in high speed through a wash of gravel we turned around and pointed our wheels back down the slope.  There were suggestions from the group that it would be entirely respectable to walk down the hill or at least part of it. I would later find out many people, even after skating for years, still walk down. But I came out to roll and roll I would.  The slope began mellowly enough. Watching Sierra skate down the start of the decline before tucking out of sight through the S bend, it looked like a lot of fun as well.  I had my strategy figured. I’d take it easy down the first part of the steep slope, line up for the turn and then open it up and let it roll. In theory, it was a great strategy. In execution it was more of a straight roll from the summit, picking up speed, passing beyond the threshold of being able to stop an then playing the mental game of not panicking, holding it together, knees bent. Just ride it out, nice and smooth.  My left leg got a bit squirrelly, then the right. Recovery, keep it together. There goes leftie again, over-correct, there goes righty, and before I knew it I was on the pavement in the hollow, just before the S bend.  The moral of the story? Pavement is harder than snow, but roller skiing is no harder than cross country skiing and a super fun way to stay in shape over the summer. Pavement is faster than snow, no doubt about it, and the balancing involved is more akin to ice skating than skiing. The hills are good fun and the speed addictive. My only piece of advice, however, is this: save the hills for at least lesson two.  Kootenay Nordic Sports is currently working on reassembling a regular weekly group of roller skiers. If you’re an experienced roller skier already, stop by the shop Wednesday evenings at 5:30. If you’re a first timer, call the shop ahead, they’ve got spare skis and can offer lessons.last_img read more

NICK ALEXANDER’S HOMEBRED SUNDAY RULES REMAINS UNBEATEN WITH GATE TO WIRE WIN IN $150,000 SPRING FEVER STAKES; D’AMATO, BAZE TEAM FOR THREE LENGTH WIN AS ‘SUNDAY’ GETS SIX FURLONGS IN 1:08.93

first_imgD’AMATO RUNS 1-2 AS LONGSHOT SIDEPOCKET RUN COMPLETES EXACTA IN GOLDEN STATE SERIES FIXTURE FOR OLDER FILLIES & MARES  BRED OR SIRED IN CALIFORNIA ARCADIA, Calif. (May 23, 2015)–Nick Alexander’s homebred Sunday Rules kept her perfect record intact with a facile three length win in Saturday’s $150,000 Spring Fever Stakes, as she covered six furlongs in gate to wire fashion under Tyler Baze in 1:08.93. (The Spring Fever was the first of five Golden State Series races run Saturday at Santa Anita for horses bred or sired in California).Conditioned by Phil D’Amato, the 4-year-old California-bred daughter of Tribal Rule now has five wins from as many starts. Heavily favored at 1-5 in a field of six older fillies and mares, she paid $2.60, $2.20 and $2.10. With the winner’s share of $90,000, she increased her earnings to $314, 880.“Nice filly,” said an emphatic Baze. “She runs with her head a little low but…she’s not real fast that first jump out of the gate, but after that she’s a monster. She’s a train really, she just goes. Those first strides, she just needs to get her feet up under her but then she’s really just a train.”Pressed early by Tribal Gal, Sunday Rules carved out fractions of 21.60, 44.11 and 56.13.“That was like two wins,” said D’Amato, whose longshot Sidepocket Run was up to take second by a nose, thus enabling the trainer to run 1-2. “Sunday Rules couldn’t be doing any better right now. I just think it’s a combination of getting over her little baby issues and now, hopefully, I’ll be able to map out a nice campaign for the future. She’ll definitely stay sprinting.”Alexander, who’s homebred Grazen is based at Tommy Town Thoroughbreds and is currently one of California’s top stallions, is a longtime breeder/owner in California who is best known locally as the owner of Nick Alexander (automotive) Imports in Los Angeles, whose advertising catch phrase is “Nick Can’t Say No.”“We are blessed to have horses as we do in Santa Ynez and to be able to race them here at Santa Anita,” said Alexander. “What a pleasant surprise she’s been. She’s very plain looking and you’d never pick her out of a group of horses in a pasture. The way she runs with her neck low…Nothing bothers her. There is a graded stakes in in Florida this coming July that we might take a look at.”Off at 35-1, Sidepocket Run, who was ridden by Tiago Pereira, paid $13.60 and $4.40.Ridden by Rafael Bejarano, Tribal Gal finished third, 1 ¾ lengths in front of Meinertzhageni. Off at 6-1, Tribal Gal paid $3.40 to show.–30–last_img read more

Video Highlights from the Leaders debate

first_img– Advertisement – Here are some highlights of the leaders debate that was held Sunday.last_img

Two people plunge to death from Yosemite’s Taft Point

first_imgA male and female visitor to Yosemite National Park were found dead Thursday morning after an apparent fall from Taft Point.Park officials recovered the bodies, but said they have not yet determined the identities of the couple or how they might have fallen.Taft Point has been one of Yosemite’s iconic tourist spots for more than 100 years. Located near the end of Glacier Point Road, the overlook has sweeping views of Yosemite Valley, Yosemite Falls and El Capitan.Named for President William …last_img read more

Zimbabwe’s protectors of the secretive pangolin

first_imgPangolins are mammals distinctive for their protective keratin scales and largely solitary existence. This animal the most illegally trafficked mammal in the world. Here’s more on how they’re being protected.The Temminck’s ground pangolin known as “scaly anteaters” is protected by the Zimbabwean conservation group and the Tikki Hywood Trust, a group of Zimbabweans. (Image: Adrian Steirn, Barcroft Images)Brand South Africa reporterTogether with Zimbabwean conservation group the Tikki Hywood Trust, a group of Zimbabweans is contributing to the care and protection of the Temminck’s ground pangolin, as well as creating awareness of the plight of this bizarre and reclusive mammal that not many know even exists.Commonly called “scaly anteaters”, pangolins are mammals distinctive for their protective keratin scales and largely solitary existence. The animal is hunted for its meat and scales, and is the most illegally trafficked mammal in the world. They eat ants and termites using an extraordinarily long, sticky tongue, and are able to quickly roll themselves up into a tight ball when threatened. There are eight species of pangolin.#Zimbabwe‘s Pangolin Men are dedicated to rehabilitating the world’s most trafficked mammal – the #pangolin! https://t.co/m8jV4lfSet #Africa pic.twitter.com/lK4JH0q2nW— Barcroft Animals (@BarcroftAnimals) November 2, 2016All eight species – four in Africa, including the Temminck’s ground pangolin found in Zimbabwe and South Africa – are listed by the International Union for Conservation of Nature and Natural Resources (IUCN) as vulnerable, endangered or critically endangered.At the CITES CoP17 conference in October 2016, all eight species of pangolin were up-listed to an outright ban on all international commercial trade of the animal and its by-products.Watch:The Tikki Hywood TrustThe Tikki Hywood Trust, a wildlife NGO, was founded in 1994 to raise awareness of and sound conservation practices for lesser known, endangered fauna and flora globally, with a focus on the diversity of threatened species in Zimbabwe and the rest of southern Africa.The trust also runs successful breeding and protection programmes to augment dwindling wild populations. These programmes design and implement standards and protocols, including captive management and animal rehabilitation. The trust’s efforts include working with a group of young Zimbabweans to rehabilitate captured and injured pangolins, as well spreading the word about the mammals’ vulnerability.Watch the video on the group’s work below:The guardian group is “entrusted with caring for animals that have endured major stress, often having been transported many kilometres bound in a sack, starved and dehydrated”, according to the Beautiful News website on 2 November 2016.While rehabilitation of the pangolins can be long and arduous, with the animal’s instinctive reluctance to interact with humans a major obstacle to building trust in the relationship, the group does this with a deep respect and love for the animal.“They have developed an intimate relationship while caring for them. Pangolins are like their children. And like any parent, they will protect their family from anything that poses a threat,” the report says.I went to Zimbabwe to capture portraits of the individuals saving the #pangolin species. My #BeautifulNews film is out today at 4:14pm SAST pic.twitter.com/Jn53l13jHN— Adrian Steirn (@AdrianSteirn) November 2, 2016Creating global awareness through photographyAustralian photographer Adrian Steirn, well known for his extensive nature photography and the 21 Icons portrait series, has released a series of photographs highlighting the group’s important work and their special relationship with the animals.The photo series inaugurated Steirn’s Beautiful News digital platform, which continues his ongoing journey of portraying a true reflection of South Africa and the rest of the continent.As the story of the Zimbabwean pangolin protectors aptly illustrates, Steirn hopes the new multi-media platform will “continue sharing powerful messages, reflecting the deeds and actions of the everyman in an inclusive and engaging style”.Source: Beautiful NewsWould you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

Don’t Believe Shoddy Research About Apple Maps Usage

first_imgRelated Posts 8 Best WordPress Hosting Solutions on the Market Why Tech Companies Need Simpler Terms of Servic… A Web Developer’s New Best Friend is the AI Wai… Tags:#Apple#web center_img Top Reasons to Go With Managed WordPress Hosting A new report that usage of Apple’s new iOS 6 Maps is plummeting has me pretty steamed. This claim – as is so often the case in the tech universe – is based on a meritless, PR-driven study. 5,000 users of an obscure app for highly technical people is a hopelessly skewed sample of what iPhone users are like.The app that published the data is called Snappli. It compresses your data while you’re on a cellular network to reduce your monthly usage. The app watches users’ data traffic, so it can tell which services they’re using.The study says that usage of Apple’s Maps among the 5,000-person sample of Snappli users has dropped to 4%, where 25% of them were using Google Maps before the iOS 6 update. It’s not clear – at least from what GigaOM published – what kind of usage this measures. Presumably, it’s daily usage.If that’s the case, the study (or the article) should have included info about whether these users had switched to another mapping service. That way, we’d know whether they’ve chosen an alternative, or they just didn’t use any maps that day. Unfortunately, it does not.Nevertheless, GigaOM thought this was enough information to publish the headline that “Apple Maps usage plunges to 1 in 25 iOS owners.” PandoDaily followed up with a link post claiming that “only 4% of iOS users still using Apple maps.”This is a reckless extrapolation from flimsy information.Snappli users do not constitute a statistically meaningful sample of iOS users. Only users who are both aware of the application and concerned enough about data usage to use it are sampled. That limits the sample to a fairly geeky subset. (And it excludes people geeky enough to feel uncomfortable letting some third party track their mobile usage all the time.)Tech companies can generate valuable insights from their data that are well worth reporting. But the vast majority of what we tech reporters see are shoddy, math-deficient marketing ploys like this. It’s always distressing to see them reported as fact.Don’t take the Snappli numbers about Apple Maps usage at face value. They’re worthless. jon mitchelllast_img read more

PVL: Arellano blanks Adamson, closes in on bronze

first_imgPhoto by Tristan Tamayo/INQUIRER.netArellano University moved closer to claiming third place after beating Adamson, 25-23, 26-24, 25-14, in the Premier Volleyball League Collegiate Conference Wednesday at Filoil Flying V Centre in San Juan.Arellano is coming off a loss to undefeated National University in a game that taught the Lady Chiefs lessons and served as a factor to their victory.ADVERTISEMENT Frontrow holds fun run to raise funds for young cancer patients  “Our loss go NU last game taught us a big lesson,” said Arellano coach Roberto Javier in Filipino.The Lady Chiefs got swept in the semifinals after taking a 25-17, 26-28, 17-25, 25-13, 20-18 setback on Sunday.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutJovielyn Prado showed the way for Arellano with 18 points while Regine Arocha and Necole Ebuen added 15 and 10 points, respectively.The Lady Chiefs shoot for the bronze medal on Saturday and Javier thinks the Lady Falcons will come out in full swing. Nonong Araneta re-elected as PFF president View comments Brace for potentially devastating typhoon approaching PH – NDRRMC Read Next BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight MOST READ “It’s important for us to win on Saturday but of course, Adamson will prepare really hard and bounce back. I hope this win motivates us more to win next game.”Adamson, which drew nine points from Mary Joy Dacoron, suffered its third straight defeat.center_img Kammuri turning to super typhoon less likely but possible — Pagasa Don’t miss out on the latest news and information. Typhoon Kammuri accelerates, gains strength en route to PH La Salle bounces back, frustrates FEU PH women’s volleyball team motivated to deliver in front of hometown crowd PLAY LIST 02:25PH women’s volleyball team motivated to deliver in front of hometown crowd00:59Sports venues to be ready in time for SEA Games01:27Filipino athletes get grand send-off ahead of SEA Games01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary LATEST STORIES Fire hits houses in Mandaluyong Citylast_img read more