PGGM: Pension funds should engage firms on long term strategy

first_imgIn the opinion of Van Dam, pension funds should not be reluctant to engage if they hold a reasonably sized stake in a company. Pension funds should engage with firms in which they invest about their long term strategy, PGGM’s Jaap van Dam has argued.During the annual conference of IPE’s Dutch sister publication Pensioen Pro last week, the director for strategic investment advice said that companies have indicated that they would like engagement, as long term investors can add real value.According to Van Dam, companies prefer such an approach instead of “the umpteenth young man with a spreadsheet making enquiries about the profit per share”.As an example, he quoted Paul Polman, chief executive of Anglo-Dutch firm Unilever, as saying that he has never had an investor at the doorstep for a discussion about the company’s long-term strategy. Jaap van Dam, PGGMWith their long-term focus, asset owners could offer a counterbalance against the dominant short-term approach of some shareholders and companies, he pointed out.“[Short-termism] will lead to costs as a result of missed prosperity, sustainability and returns, and it is in the interest of pension funds’ participants to plug this gap,” Van Dam added.During the ensuing discussion, Justus van Halewijn, CIO at the €20bn asset manager SPF Beheer, said he was satisified with the results of his firm’s long-term strategy. SPF Beheer introduced a strategic investment portfolio with a seven-year horizon in 2010.“During the first seven years, the holdings have outperformed relative to the MSCI World Index,” he said.last_img read more

Read More →

Several options on the table for Europe’s stricken leagues

first_img(REUTERS) – Some clarity on how soccer leagues in Europe plan to complete seasons that have been put on hold due to the coronavirus pandemic is expected this week but there is likely to be a mixed bag of solutions with countries tugging in different directions.Meetings set for the next few days will study how to resume the suspended campaigns, even though it will be difficult to come up with a definitive roadmap while the continent remains in the grip of the fast-spreading virus.UEFA will discuss this season’s Champions League today while the Premier League will hold a conference call on Friday with suggestions they are considering re-starting the season in early May to avoid losing broadcast revenue.One option on the table is resuming the season behind closed doors in order to finish by July 12, thereby avoiding millions of pounds of penalties in their television contracts.They will also want to settle promotion and relegation issues to avoid potential legal battles, like the one threatened by non-league clubs whose season has already been curtailed.In Italy, which has been in lockdown for over three weeks and has a COVID-19 death toll approaching 12 000, there is growing sentiment that the season should be abandoned.“Let’s think about health now, we’ll talk about football later,” Fiorentina owner Rocco Commisso said.German clubs were meeting in Frankfurt yesterday with several stark options on the table.The German football league (DFL) will hear proposals to resume the Bundesliga in either mid-May or mid-June and finish the season in late July.It has also been suggested by some clubs that a 16-day tournament be organised, with several matches each day and clubs playing every two days in order to complete the 82 remaining matches by June 30, including the German Cup semi-finals and final.“We should definitely end this season. For reasons of fairness but also to limit the economic damage,” said Bayern Munich chief executive Karl-Heinz Rummenigge.But the prospect of La Liga clubs in Spain playing every second day was a non-starter for Barcelona president Josep Maria Bartomeu.“The scenario we are looking at now is to play a game or two before June 30 so we can end the season in July or August. We have no problems in doing that,” he said yesterday.“What we don’t want is to play games behind closed doors or every 48 hours.”Ligue 1 in France is also under pressure to return after broadcaster Canal Plus said it would not pay the next instalment of their contract after the suspension of matches.Dutch clubs were awaiting an announcement yesterday of a possible extension of the ban on gatherings past June 1.In Belgium, the league’s leadership will meet tomorrow after a call from the majority of first- and second-division clubs to call off the rest of the 2019-20 campaign.FIFA plans to allow player contracts that end on June 30 to be extended until the season is completed.Today’s UEFA video conference will involve the general secretaries of its 55 member-associations but is unlikely to make any firm decisions, insiders said.Instead it will offer various scenarios, including the possibility of completing the Champions League in July and August.No matter what is discussed or agreed this week, the only thing that remains clear is that the situation will remain fluid for the foreseeable weeks ahead.last_img read more

Read More →

The last time Syracuse football was 3-0…

first_imgJimmy Connors was on the cover of Sports Illustrated.Skid Row was on the cover of Rolling Stone.Warren Moon was the reigning NFL passing leader, throwing for 4,689 yards in 1990. He also was leading the NFL in the first month of the 1991 season.Jose Canseco and Cecil Fielder were tied for the MLB lead in home runs with 44.Michael Jordan was the reigning NBA MVP.Zero current Syracuse football players were alive. Bryan Adams’ “(Everything I Do) I Do It For You” was the No. 1 song in the United Kingdom. Twenty-four years ago, No. 18 Syracuse beat No. 5 Florida, 38-21, to improve to 3-0. It was Sept. 21, 1991, and since that day, no Orange football team has started the season with three straight wins.But that streak was broken on Saturday, when SU (3-0, 1-0 Atlantic Coast) beat Central Michigan 30-27 in overtime in the Carrier Dome. Here’s some facts from the last time Syracuse was 3-0, to give you an idea of how long it’s been.Syracuse head coach Scott Shafer was 24 years old and in his first coaching job as a graduate assistant at Indiana.According to Statista.com, the national retail price of gas was $1.10.George H.W. Bush was serving his only term as the 41st president in United States history.USA Basketball announced the team that would compete in the 1992 Olympics in Barcelona, Spain. That team eventually won gold and would go down in history as the “Dream Team.”“I Adore Mi Amor” was the No. 1 song on Billboard’s Hot 100. Comments AdvertisementThis is placeholder textcenter_img Facebook Twitter Google+ Published on September 19, 2015 at 4:04 pm Contact Paul: [email protected] | @pschwedslast_img read more

Read More →

SIS inks Dubai Racing Club partnership extension

first_img SIS grows Latin American footprint through Betcris deal August 12, 2020 Share Submit SIS adds Irish Greyhound Derby to its portfolio August 13, 2020 Racing content and data provider Sports Information Services (SIS) has secured a two-year extension to its current media rights agreement with the Dubai Racing Club (DRC). Under the terms of the agreement, SIS will continue to hold the exclusive UK and Irish LBO rights and international online rights for Dubai’s Meydan Racecourse, alongside rights for international LBO customers for a further two years.Paul Witten, Product Director at SIS, said: “Middle Eastern racing has long provided a positive boost to both retail and online operators over the winter season, and our agreement with Meydan racecourse will be the perfect early Christmas present for many.“We look forward to being able to continue to bring these top-quality events to our customers, as part of our comprehensive UK, Irish and international horse racing offer.”As part of the deal, the racing content and data provider will continue to broadcast races from 23 fixtures a year at Meydan Racecourse, including the prestigious Dubai World Cup, the world’s richest race day.The agreement comes after SIS secured a partnership with Colossus Bets, which will deliver British greyhound racing jackpots to operators across the world.As part of the new partnership, Colossus Bets will offer jackpots on British greyhound meetings, which will include mainstay features of minimum prize guarantees, Cash Out and Syndicates. Share Related Articles StumbleUpon Richard FitzGerald steps down as RMG CEO August 6, 2020last_img read more

Read More →