Mark Thompson, CIO at the fund, told IPE it plans to add a global bond fund to its options that is set to be managed by H2O Asset Management.Its global equity funds will be adjusted towards emerging markets, which will now account for 15% of holdings.Other non-UK equity holdings will increase to 75% of the fund, up from 60%.The fixed income and index-linked bond funds are both changing to pre-retirement funds to allow a more flexible allocation between long-dated UK Gilts and long-dated corporate bonds, thus moving away from the current prescriptive 50/50 split.Thompson said changes would allow its bond investments to better match annuities and with a duration hedge.The scheme is also adding an emerging market fund from Schroders and a diversified growth fund (DGF) from Investec Asset Management to add capacity to current managers.HSBC will add the choice of the capital lifestyle system from April 2015.The option will be designed to invest 100% in equities until 20 years before retirement before swapping into a DGF. Three years before retirement, funds will shift 25% into cash, allowing the member to access income drawdown.Thompson said HSBC had no plans to offer income drawdown in-house but would consider its approach as the product developed as an offering in the market.“We do not have predictions internally of how many people will use the capital lifestyle strategy, but it is important to have in there ready,” he added.The default annuity lifestyle investment strategy will remain 100% allocated to passive global equities until 20 years before retirement, before gradually investing in the scheme’s DGF offering.At 10 years before retirement, the strategy is equally split between global equities and DGF and begins moving into the fixed income bond fund. It shifts to a 25% cash allocation five years prior to retirement.The cash lifestyle option will be rejuvenated, becoming the default investment option for around 5,000 DB members transferring when the scheme closes to future accrual in July.Cash lifestyle has been used for DB members using the DC scheme for additional voluntary contributions (AVCs) – with members generally taking DC savings as a tax-free cash lump sum.The bank’s DB scheme closed to new members in 1996, meaning all current active members have significant built-up accrual rights in the final salary scheme.Read Taha Lokhandwala’s feature on the future of UK pensions and DC investment strategies The £2bn (€2.6bn) defined contribution (DC) HSBC UK Pension Scheme is keeping an annuity lifestyle strategy as its default option as it shakes up investment offerings.The scheme has created a new ‘capital lifestyle’ option for members to access income drawdown and will further utilise its ‘cash lifestyle’ for members moving from its defined benefit (DB) scheme.As the bank’s schemes prepares for the DC freedoms announced in last year’s Budget, it still believes the annuity lifestyle system – which moves from equities to diversified growth to annuity-matching strategies – will remain key for employees.The fund is also amending underlying investment funds offered to its DC members, increasing the total number on offer to 13, while amending six.
THE National Sports Commission (NSC) has provided 16 floodlights for the ground at Kamarang, ahead of the 2016 Upper Mazaruni Games on Sunday.The presentation fell under the Ground Enhancement Project being carried out by the NSC. Receiving the lights from the Minister within the Ministry of Education, Ms Nicolette Henry was the District Sports Council’s Mr Rudolph Wellington.Ten of those lights have been installed and games are played during the night. The Minister of Indigenous People’s Affairs. Sydney Allicock also handed over a generator to Mr Wellington.Director of Sport Christopher Jones, who declared the games open, also delivered a variety of sporting equipment. Additionally, the Ministry of the Presidency and the NSC provided meals and fuel, as well as other support to make the event possible.
Red Bluff >> The bats were quiet Tuesday afternoon at Red Bluff High School until the Lady Spartans strung together some hits in the fourth to go up 2-0 over the visiting Pleasant Valley Vikings, and that was all they would need.In addition to getting the shutout win, pitcher Sarah Reineman started the Spartans rally in the fourth with a one-out single to shallow left.Aubrey Zamora came up next and tripled with a shot down the right field line that went to the corner, scoring Reineman. Alexis …
MOST READ “I’m happy, but sad at the same time. I’m happy that he’ll be able to spend time with his family and loved ones back in the United States. I’m sad because I’m not gonna be with him every day,” he said. “Sixteen years we’ve played together and we were basically with each other every single day. Now that he’ll be gone in practices and games, it’s gonna be a big adjustment for me. But for him, this one was the best way to go and that’s perfect.”READ: Helterbrand finds perfect time to call it a career Caguioa and Helterbrand had gone the highest of highs and the lowest of lows in the Ginebra franchise. They started as the upstart “Bandana Brothers” days and became the face of the franchise as “The Fast and the Furious” before settling as reliable veterans for this championship team.Though Caguioa admitted he tried to talk Helterbrand out of retiring last year, but he supports his brother’s decision to end his illustrious run in the pro league.“I kind of talked to him out of it after the first championship last year. But this season, I was ready for it. I kind of sensed it, and I know that he’s ready. I’m happy because he’s happy with that decision,” he said.ADVERTISEMENT Stronger peso trims PH debt value to P7.9 trillion Kammuri turning to super typhoon less likely but possible — Pagasa Don’t miss out on the latest news and information. Read Next John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding LATEST STORIES Trending Articles PLAY LIST 00:50Trending Articles01:41Helterbrand finds perfect time to call it a career03:06Ginebra, Meralco expect ‘tough, rough’ finals series to go the distance01:37Protesters 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 Scary start: Cavs dealing with numerous early-season issues CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Brace for potentially devastating typhoon approaching PH – NDRRMC Mark Caguioa and Jayjay Helterbrand. Photo by Tristan Tamayo/ INQUIRER.netJayjay Helterbrand, who is capping off a triumphant 17-year career, has asked the Ginebra brass to hold off on any retirement ceremony for him until Mark Caguioa decides to hang up his sneakers too.“I told them that I want to wait until Mark retires and we’ll do it together. I think it will be fitting to do that,” said the 2009 PBA MVP.ADVERTISEMENT QC cops nab robbery gang leader, cohort Japan ex-PM Nakasone who boosted ties with US dies at 101 Typhoon Kammuri accelerates, gains strength en route to PH READ: Helterbrand to sign one-year extension with GinebraOverall, Caguioa is just grateful to have someone like Helterbrand for the most of his career, adding that their duo could arguably be one of the longest partnerships the league has ever saw.“It’s very rare to have a partner like him, your tandem for as long as 16 years. This might be the longest tandem the PBA has ever seen,” he said. It may be a long wait for Heltebrand as Caguioa isn’t ready to call it a career just yet.READ: Jayjay Helterbrand announces retirementFEATURED 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 shutout“I told him wait for about 10 years, when I’m 47 (years old),” said the MVP of the 2012 season.Caguioa shared that it was bittersweet to see his backcourt partner call it a career, but he also believes that it’s just right for Helterbrand to make his exit while on top with Ginebra’s back-to-back titles. View comments
The U.S. Supreme Court is siding with businesses and the federal government in a ruling about the public’s access to information.The high court ruled Monday against the Sioux Falls Argus Leader newspaper that was seeking information about the government’s food assistance program, previously known as food stamps.The Argus Leader wanted to know how much money goes annually to every store nationwide that participates in the government’s $65 billion-a-year Supplemental Nutrition Assistance Program, called SNAP.Reporters asked the government for the information under the Freedom of Information Act.The justices sided with a supermarket trade association and the U.S. government, which argued against the information’s release.
Genoa coach Andreazzoli: We did not deserve defeat to AC Milanby Carlos Volcano20 days agoSend to a friendShare the loveGenoa coach Aurelio Andreazzoli felt they did not deserve defeat to AC Milan. Lasse Schone had Genoa ahead before Theo Hernandez and Franck Kessie struck for the visitors. Pepe Reina secured the points with an injury-time penalty save.Andreazzoli said, “It was an odd game. I complimented the lads at the end of the first half, as they played the game I expected. Then, in a couple of minutes we made some inconceivable naïve errors and threw it all away. You can’t afford that at this level.“After that, the team again did everything we had asked for, even more so, fighting with their hearts on their sleeves. There are regrets, clearly, as we play for a result and it hurts to emerge empty-handed from a match like that, but football is a combination of incidents and interpretations.“We played very well and it’s a pity for the lads, as they did not deserve the defeat. I do not protest at refereeing decisions. He went to view it on VAR, so he must know the decision he made.“Incidents went against us, Reina made up for his earlier error and saved them at the end. It was a game that deserved a different ending.” About the authorCarlos VolcanoShare the loveHave your say
He’s not quite the caliber of NBA Dunk Contest champion Zach LaVine, but former Michigan wide receiver Devin Funchess is a pretty incredible dunker. Funchess, who played for the Wolverines from 2012-14, declared for the NFL Draft following his junior campaign that included 733 receiving yards and four touchdowns. NFL scouts will certainly love the 6-foot-5, 230-pound pass catcher’s athleticism. Check out this video of Funchess on the court: Former #Michigan WR Devin Funchess (@D_FUNCH) has avatar-like bounce. When NFL teams see his head above the rim?! pic.twitter.com/uLWbbxBQeQ— Rand Getlin (@Rand_Getlin) February 15, 2015Funchess is projected by many to be a tight end at the next level. Jimmy Graham, one of the NFL’s best tight ends, has similar skills on the basketball court. If Funchess can be half the player Graham is, he’ll have a very long career.
SMITHERS, B.C. – Hundreds of supporters and hereditary chiefs from around British Columbia gathered in Smithers to show solidarity with the hereditary chiefs of the Wet’suwet’en First Nation.Chief Na’Moks says the rights of the hereditary chiefs to the land have never been extinguished.He says no elected band council or Crown authority has jurisdiction over the land, and agreements signed by pipeline builder Coastal GasLink are illegitimate. Coastal GasLink says it has signed agreements with all 20 elected band councils involved.Chiefs and elected council members from several B.C. First Nations, including Haida, Gitxsan, Babine Lake and Lax Kwa’laams, shared stories of resistance against industry and frustration with the application of Canadian laws during the gathering.Harvey Humchitt, a hereditary chief with the Heiltsuk First Nation in Bella Bella, where a tug ran aground spilling diesel and lubricants into the waters, says it only takes one incident to cause devastation.(THE CANADIAN PRESS)
OSU sophomore linebacker Jerome Baker (17) and senior linebacker Chris Worley (35) combine on a sack againstr Michigan junior quarterback Wilton Speight (3) during their game on Nov. 26 at Ohio Stadium. The Buckeyes won 30-27. Credit: Mason Swires | Assistant Photo EditorThe Ohio State Buckeyes were doomed for defeat against rival Michigan. Everybody could see it. Everyone could feel it throughout the stadium. The signs were present.Through much of the game, the OSU offense failed to string together consistent drives to put the Wolverine defense on its heels. Almost a replica to how the offense looked in its only loss of the season at Penn State, redshirt junior quarterback J.T. Barrett was erratic with his throws and the running game was stopped for minimal gain against a ferocious Michigan defense.However, there were a couple signs of a possible OSU comeback, all of which began with the defense.In the second quarter, a theme was developing. The OSU offense was unable to move the ball past its own 35-yard line in the quarter and only accumulated two first downs. A booming 60-yard punt pinned Michigan quarterback Wilton Speight at his own 6-yard line.OSU blitzed junior linebacker Raekwon McMillan and sophomore linebacker Jerome Baker, but it was McMillan who got to Speight and forced an errant throw that landed in the hands of Malik Hooker. The redshirt sophomore safety returned it to the house for his third pick-six of the season, breaking a school record.In the third quarter, an unproductive offense became the story of the game. Barrett wasn’t connecting with receivers in the passing game and redshirt freshman running back Mike Weber and junior H-back Curtis Samuel were being stalled in the run game.Michigan led by 17-7 nearing the fourth quarter and it was clear that the defense needed to make a play to boost the offense or the Wolverines were going to roll to victory. Like it had so many times before, the defense stepped up.Baker intercepted a pass from Speight and returned it 22 yards to the Michigan 13. Two penalties later, OSU had the ball on the 4 where Barrett carried for three yards, then Weber punched it in to trim the deficit to three.“We just do our job. I got it in there, did what I can do,” Baker said. “Raekwon, (Chris) Worley, Joe (Burger), all those guys kept my head up.”Again in the fourth quarter, following senior kicker Tyler Durbin’s second missed field goal that would’ve tied the game, the Silver Bullets took the field needing to stop the Wolverines for the offense to have another chance to tie, or possibly win the game. A couple first downs likely would’ve put the nail in the coffin of OSU.Three plays later, the defense was off the field and the offense marched 77 yards to send the game to overtime.“Our defense kept hanging in there, hanging in there, and they provided sparks,” said OSU coach Urban Meyer. “And the offense kind of took over in the fourth quarter and overtime.”It was the third time in the biggest game of the year that the defense saved a lackluster offensive performance, and was one of several games that the defense gave the offense a chance for redemption. A walk-off sack against Wisconsin in overtime, an early pick-six in Norman, Oklahoma, a game-saving interception on a Michigan State two-point conversion and a game-clinching interception against the Spartans are all plays that have defined this 2016 defense as opportunistic. They are all plays that can bail out an offense. The two interceptions on Saturday were primary examples of something that has been a staple of co-defensive coordinators Greg Schiano’s and Luke Fickell’s defense.Michigan running back De’Veon Smith gained 158 yards and score two touchdowns in the previous game against Indiana. On Saturday, McMillan, Baker and the rest of the defense halted Smith to just 60 yards on 21 carries. The two linebackers combined for 31 tackles — 16 and 15, respectively.“At times we need (the offense) to help pick us up. At times, they need us to pick them up,” McMillan said. “We needed them toward the end and they needed us toward the beginning. The brotherhood at the beginning, they just keep us going.”
Sophomore guard Ameryst Alston (14) takes a shot during a game against Michigan State Jan. 26 at the Schottenstein Center. OSU lost, 82-68.Credit: Kaily Cunningham / Multimedia editorIn a competitive year for the Big Ten conference, there is no room for a letdown.That is exactly what the Ohio State women’s basketball (13-10, 3-4) team look to avoid Thursday when it takes on a reeling Illinois (9-11, 2-5) squad that has lost six of its last eight games.Despite the poor record of Illinois, OSU coach Kevin McGuff said Illinois is a more than capable team.“Illinois is really talented. They have played really well at times,” McGuff said. “Quite frankly, I am a little surprised at their record because I know they are very well-coached and have some talent.”McGuff said he is worried about the threat coach Matt Bollant and the Illini can pose with their speed.“They are not big, but they are fast,” McGuff said. “Hopefully some of our size around the basket can bother them.”That size, of course, comes from 6-foot-5-inch Ashley Adams and 6-foot-2-inch Darryce Moore, the senior Buckeye centers who could be poised for a big game despite struggling in the team’s last game against Michigan State, with Moore scoring eight and Adams failing to score.“We have a pretty big team, as far as our post players,” sophomore guard Ameryst Alston said. “Our post players should have a field day.”Illinois leads the Big Ten in steals (225) and turnover margin per game (+6.05), something which Alston said the Buckeyes have to notice.“They do play this funky zone,” Alston said. “They do a good job of turning other teams over. Limiting our turnovers will be a difference in the game.”Figuring out the defense of Illinois has been the focus this week for the Buckeyes as Alston and junior guard Raven Ferguson were the first two into the locker room for film study, something Alston said is common.“We spend a lot of time with each other off the court,” Alston said with a grin. “We have so much chemistry and I think us being close off the court helps on the court.”Alston and Ferguson have led the Buckeyes for most of the season in the scoring column, but sophomore guard Cait Craft ended her scoring struggles Sunday against Michigan State with 12 points on 50 percent shooting from the field. It was Craft’s first game notching double digits in points since a victory over Purdue Jan. 2.“I struggled the last couple of games after our Big Ten opener,” Craft said. “With the constant support of my teammates and constant encouragement, it is easy to get back in the flow.”Craft is tied for third on the team with both Moore and senior forward Martina Ellerbe with an average of 8.8 points per game.The Buckeyes know the matchup with Illinois will not be easy, Craft said.“Their style is a lot different, but they are still a very good team,” Craft said. “Any given night, anybody can beat anybody.”The Buckeyes are scheduled to take on the Illini Thursday at the Schottenstein Center at 7 p.m.