After the takeover, the trustees of the fund negotiated a guarantee from new sponsor Schneider Electric to cover liabilities of as much as £1.75bn, with the reservoir fund split between the two.In the scheme’s annual report, chairman Kathleen O’Donavan said the guarantee meant the financial security of the fund was materially better than at any point in recent years.“The trustee will continue to review the strength of the covenant the company provides,” she said.“In light of the £1.75bn guarantee, the trustee will now also assess the improved security afforded to the scheme through the strength of the wider Schneider Electric group.”The new sponsor will not grant the scheme any additional contributions other than those for active members.This, however, will be reviewed in March next year.Due to the cash injection and reservoir contribution, the fund’s value increased by £208m despite being cash-flow negative.Two-thirds of the fund’s 78,000 members are pensioners, with only 385 active members.Some 54% of assets is invested in BlackRock’s liability-driven investment (LDI) fund, which lost 4.9% over the year, outperforming its benchmark by 1.3 percentage points.Through its BlackRock mandate and other investments, the pension fund holds 42% of its assets in index-linked UK Gilts and 17% in fixed-rate Gilts.It holds 25% in corporate bonds, where managers AXA IM, M&G Investments and GLG all outperformed their respective benchmarks.Its 3%, £131m passive allocation to equities held by Legal & General Investment Management produced a 15.2% return – nearly 11 percentage points above benchmark.However, overall returns remained negative due to the impact of rising Gilt yields on LDI strategies, which account for the lion’s share of its holdings. O’Donavan said the Invensys scheme still outperformed its benchmark by 2.5 percentage points.“The strategic target took into account the impact of changing Gilt yields,” she said.“The scheme’s strategic target was -3.4%. “The fact the assets outperformed expectations over the year helped to improve the funding position of the scheme and the security of members’ benefits.” The £4.7bn (€5.7bn) Invensys Pension Scheme has seen its £445m deficit disappear after changes in the ownership structure at its sponsoring company.The fund, which made an investment loss of 0.9% over the year to April, received a £400m cash injection last year after its sponsor, Invensys, sold its rail business to German conglomerate Siemens.The fund now boasts a £121m surplus, according its latest annual report.Earlier this year, Invensys itself was sold to Schneider Electric, which renegotiated the scheme’s covenant and an additional £105m injection after the dissolution of a £225m reservoir fund.
Hearts of Oak have been bolstered by the return to training of key players ahead of their Super 2 clash against KotokoSamuel Yeboah, Ashitey Ollenu, and Kennedy Appiah headline the list of returnees to full fitness together with Selasi Adjei, Musah Inusah, and Evans Gbeti.The six were all at training on Tuesday at the Legon Ajax Park and they are part of the Hearts team that have gone into secret camping ahead of the big game.Samuel Yeboah has been missing in action since the Techiman City game having complained of illness and later a foot injury but he’s back with the team now.Fans favorite Ashitey Ollenu was also not feeling well after captaining the side in the FA CUP and has missed two games but he is back with the team.Left back Kennedy Appiah has fully recovered from a thigh injury and has pitched camp with his colleagues. Striker Selasi Adjei has overcome his troubling knee injury and has been training with the team; same as long time absentee Musah Inusah, who has also won the fight against a niggling ankle injury.Goalkeeper Evans Gbeti has also returned to the side after picking up a back injury prior to the Samartex game.The return of the six players is a major boost for the team ahead of Monday’s big game.We are happy to welcome all of them back; but stay with us on all our social media platforms for confirmation from the technical team of whether the returnees will be available for selection for the big game.Read how Hearts have fared so far in the league –Follow Joy Sports on Twitter: @JoySportsGH. Our hashtag is #JoySports
England’s up-and-coming girl golfers will have the chance to test their skills against the professionals on the WPGA’s 2017 One Day Series. Players from the England Golf U16 and U18 regional girls’ squads have again been invited to play in the series of seven events which starts at Little Aston in May. Ten invitations are available at each tournament. Rebecca Hembrough, England Golf Women’s Performance Manager, commented: “I’m delighted to say that once again the WPGA have supported our regional programme by offering invitations to regional squad players. “Not only will they play great golf courses, but the playing groups will be mixed so they will tee it up with both experienced female professionals and those that are on the path to qualification. It’s a wonderful opportunity and great experience.” In recent years three squad players have won events on the series: Becca Earl (Bishops Stortford) won twice, following in the footsteps of Megan Clarke (Cleckheaton & District) and Charlotte West (Harewood Downs). Last season, English U16 champion Lily May Humphreys (Channels), Anna Collis (Letchworth) and Thalia Kirby (Stoke Park) all claimed fourth place finishes. The six events are: Little Aston, Staffordshire, on 8 May; Dunham Forest, Cheshire, on 24 May; Three Rivers, Essex, on 6 June; Kedleston Park, Derbyshire, on 26 June; Chestfield, Kent, on 21 July; Salisbury & South Wilts on 27 July; South Herts on 30 August. Squad players should click here to apply before the following England Golf closing dates, all at noon: Little Aston, 10 April; Dunham Forest, 24 April; Three Rivers, 8 May; Kedleston Park, 30 May; Chestfield, 19 June; Salisbury & South Wilts, 26 June; South Herts, 31 July. Entry will be for up to 10 players per event with a maximum handicap of four. Caption: Anna Collis of Letchworth Golf Club (image © Leaderboard Photography) 30 Jan 2017 Professional challenge for England’s promising girl golfers
She had 18 points, 12 assists and 11 rebounds for the Ducks, who were playing the game as a homecoming for Ruthy Hebard.SOLID RANKINGS: The opening week saw the Top 25 teams only lose a game to a team not ranked when No. 21 Duke fell at Northwestern. The rest of the ranked teams were 39-0 against non-ranked foes.___Follow Doug on Twitter at http://www.twitter.com/dougfeinberg___More AP college basketball: https://apnews.com/Collegebasketball and https://twitter.com/AP_Top25 In this Feb. 26, 2017, file photo, Rutgers coach C. Vivian Stringer shouts to her players during the first half of an NCAA college basketball game against Ohio State in Piscataway, N.J. On Friday, Nov. 9, 2018, Stringer earned victory No. 999 with Rutgers’ win over Stony Brook. She’ll have her first chance at 1,000 on Tuesday, Nov. 13 against Central Connecticut State. (AP Photo/Mel Evans, File)NEW YORK (AP) — Lindsay Whalen got her first win as a coach and C. Vivian Stringer moved within one victory of 1,000 as women’s college basketball tipped off its season.Whalen took over at her alma mater Minnesota this year and led the Gophers to an opening win in front of an announced crowd of 14,625. It was the most ever to watch a women’s basketball game at Williams Arena. They had a lot to cheer about as the Gophers beat New Hampshire by 23 points.“Hey, that was fun,” Whalen said to the crowd from midcourt after the game Friday night.The Gophers have a shot to earn their first ranking under Whalen on Monday. They were 26th in the preseason poll.While Whalen was celebrating her first win, hours earlier on Friday Stringer earned No. 999 with Rutgers’ win over Stony Brook. She’ll have her first chance at 1,000 on Tuesday night against Central Connecticut State. A win would put the Hall of Fame coach in the company of Pat Summitt, Geno Auriemma, Sylvia Hatchell and Tara VanDerveer as Division I women’s basketball coaches who have won 1,000 games.It took Stringer’s Rutgers team five tries to get her win No. 900 in 2013. With many family, friends and former players coming Tuesday night, she hopes the Scarlet Knights can do it on their first try this time.“I just want to get it over with,” Stringer admitted. “It’s the best way for me to say that. I think that’s what happened with 900, they were trying so hard to do it, you’d think it was the first game we played. They were really nervous to get it done.”Here are other things that happened in women’s college basketball this past week:RECORD ROUT: Savannah State set a school scoring record in their season opening 155-26 win over Wesleyan. The 155 points broke the old mark set during the 1975-76 season when the Lady Tigers beat Georgia Tech 141-18. It also was the most scored by a NCAA Division I team since 1987, when Long Beach State beat San Jose State 149-69.The 129-point win also set an NCAA Division I margin of victory record, surpassing 108 points set in 2016 when Baylor defeated Winthrop 140-32. It is important to note that team Savannah State beat is a Division III program.Sophomore Jacquece Alston recorded a triple-double for Savannah State with 13 points, 12 assists and 12 steals. She also had seven rebounds.REWRITING THE RECORD BOOK: Oregon junior guard Sabrina Ionescu picked up where she left off with her NCAA record 11th career triple-double in the No. 3 Ducks season opening win at Alaska.