The UK’s Local Pensions Partnership (LPP) has launched its first asset-class fund, with the pooling of its founding investors’ equity holdings resulting in the number of external managers being whittled down to three as four from Lancashire County Pension Fund’s side were dropped. The new fund is a £5bn (€5.5bn) global equity fund, which comprises the pooled holdings of its main clients the Lancashire County Pension Fund (LCPF) and the London Pensions Fund Authority (LPFA). The Royal County of Berkshire Pension Fund has not added its holdings to the equity pool, as it has not yet formally joined the LPP, a spokesman at the partnership told IPE.Berkshire is to do so early next year. Around 40% of the Global Equity Fund comprises equities managed internally, with the remainder being managed by MFS Investment Management, Robeco and Magellan, according to a statement from LPP.As at 31 March, the £6bn LCPF had five external public equity managers – Baillie Gifford, Natixis Global Asset Management (NGAM), MFS, Morgan Stanley and Robeco – and two UCITS funds managed by AGF Investments and Magellan Financial Group.The LPFA, in turn, had some £2bn of exposures to public equities as at the end of August this year, with MFS responsible for around half that.It brought the majority of its equity portfolio in-house in 2014; the in-house investments stood at £1bn before the pooling, IPE understands.This indicates that four external managers lost mandates as a result of the pooling, mainly from the LCPF’s side: Baillie Gifford, NGAM, Morgan Stanley and AGF.The LPFA brought the majority of its equity portfolio in-house in 2014. The LPP spokesman said: “We have dropped some existing managers and given larger mandates to the three on the release whom we feel share our investment philosophy.”First in a seriesIts global equity fund is the first in a series of asset class funds that LPP Investments (LPPI), the FCA-approved operator of the Authorised Contractual Scheme (ACS), intends to launch, according to LPP.The local government pension scheme organisation said it was planning to launch funds for fixed income, total return and property.Investments in more illiquid assets such as private equity, infrastructure and credit are being consolidated under special-purpose vehicles over the next six months, it added.The LPP said the new equities portfolio “provides a significant reduction in overall costs for each of the founding investors while also maintaining and improving expected investment outcomes”.The entry into force on 1 November of new UK investment regulations for local authority pension funds paved the way for the launch of the global equity fund, according to the LPP.Susan Martin, chief executive at the LPP, said: “Following our FCA and ACS approval, we have been waiting for the government to change the LGPS investment regulations. There are now no barriers to physically pooling our assets and launching the fund.”The LPP is one of the eight local government pension scheme pools that are at various stages of development in the UK.Like the London CIV, it pre-dates the government’s instruction for administering local authorities to pool pension scheme assets and is relatively far advanced.It obtained FCA approval in April 2016, at which point a spokesman had indicated to IPE that equities could be the first asset class where holdings would be pooled.The LPP sees itself as a pension services organisation and thus more than an asset pool.The venture also has a pensions administration company, LPP Administration.It does not yet have the £25bn in assets that the UK’s Department for Communities and Local Government has set out as a goal for the LGPS asset pools, but it is confident about being able to attract further clients.
Both tournaments will have a purse of 500,000 euros and count toward both tours.The full European Tour schedule starts a week later with the British Masters. That kicks off a stretch of six tournaments in England and Wales, each with a prize fund of 1 million euros ($1.1 million).The European Tour was last held March 8 at the Qatar Masters when the COVID-19 pandemic led to a shutdown. The Challenge Tour was last played Feb. 16 in South Africa, though it was not scheduled to resume until May.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports June 15, 2020 The school did not disclose whether it was athletes, coaches or staff members who tested positive. In the two weeks since Iowa began testing, there have been three positives and 343 negatives.According to an Associated Press count, at least 45 athletes, coaches or staff members at a total of 17 schools have tested positive since June 1.___The PGA Tour will keep the 3M Open in Minnesota on schedule, but the second-year event will be played without spectators on site.Tournament officials announced Monday that the state’s health guidelines currently in place for public gatherings during the COVID-19 pandemic will keep the galleries empty throughout the weekend of July 23-26. Attendance at the TPC Twin Cities course in Blaine, a suburb north of Minneapolis, will be limited to players, caddies, staff, media and other personnel deemed essential to the operation. The Latest: Michigan set to welcome back athletes Michigan says its process for reopening the athletic campus includes a 14-day pre-report risk assessment and a six-day resocialization period to campus. The resocialization period includes COVID-19 and antibody testing.Players and staff will have daily screening before being admitted to facilities. People who test positive for COVID-19 will enter a defined quarantine protocol.The second phase of returning student-athletes to the Michigan campus will include cross country, field hockey, golf, soccer, tennis and volleyball.___Iowa’s athletic department reported two positive COVID-19 tests during the second week of its return-to-campus protocol. The PGA Tour resumed last week after a three-month hiatus because of the virus outbreak. No spectators were admitted at the Charles Schwab Challenge in Texas, and the next three events will also be held without fans. The Memorial tournament in Ohio, rescheduled for mid-July right before the 3M Open, has received state approval for a limited amount of spectators.___The New York Racing Association and the City of Saratoga Springs unveiled a limited edition set of Saratoga Race Course-branded face masks on Monday as part of an effort to raise funds for two local non-profit organizations.The reusable cloth face masks come in a variety pack and feature three individual designs with Saratoga logos. The masks, to be used to help stop the spread of the new coronavirus, include stretchable elastic ear straps with an interior pocket for a replaceable filter. When West Virginia begins its fall semester on Aug. 19, students must wear masks on campus, including in class. Students, faculty and staff must be tested for the virus before they return to campus and complete a coronavirus education course.___European Tour members would be able to play again two weeks earlier than originally planned with the announcement Monday of the consecutive golf tournaments in Austria.Both will be dual ranking events for the European Tour and its developmental Challenge Tour.The Austrian Open will be July 9-12 at Diamond Country Club. It will be followed by the Euram Bank Open at Golf Club Adamstal, which will be July 15-18. A portion of the proceeds will be donated to support Franklin Community Center and Shelters of Saratoga, which provide food, shelter and other critical resources to the community.___A football player at West Virginia has tested positive for the coronavirus, the school said Monday on the first day of voluntary workouts.The school’s athletic department said in a statement that contact tracing identified other football players who could have been exposed to the athlete. Both the player who tested positive and the others he may have been in contact with will isolate themselves for 14 days, the statement said.Voluntary workouts will continue for players who have tested negative for the virus, the statement said. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus pandemic on sports around the world (all times local):___Michigan’s athletic department says football and basketball players are welcome back on campus starting this week if they choose to take part in voluntary strength and conditioning work. Associated Press
DOMINATE YOUR LEAGUE: Get the Fantasy Alarm NFL Season Pass!LISTEN TO THE SN FANTASY WEEK 12 PREVIEW PODCAST BELOWWeek 12 Fantasy Football FAAB targets: QuarterbackSam Darnold (NYJ); FAAB Bid: 10-12%: Prior to Sunday’s game against the Bengals, the Raiders (New York’s Week 12 opponent) had given up multiple passing touchdowns to quarterbacks in six straight games, and they allow more than 260 passing yards per game. Even if Darnold throws for 250 yards and a pair of touchdowns, that’s 18 points in four-point per passing touchdown leagues. Sure, he’s still prone to interceptions, but I like this matchup more with Karl Joseph out of the picture, and the Raiders have to travel to the East Coast for this matchup, so it will feel like an even earlier game to them.Baker Mayfield (CLE); FAAB Bid: 7-8%: It was a toss-up between Mayfield and Jacoby Brissett for this last spot. I still like Brissett mostly just for this week. He’s cooled off significantly since his 10 touchdowns in the first four games of the year. But his last big game came against the Texans a few weeks back, where he threw for more than 300 yards with four touchdowns. But for now, I’ll stick with the easier schedule of Mayfield. The Browns have won two straight and still have a shot at the playoffs. Mayfield had arguably his best game of the season last Thursday and gets a much easier matchup this week against the Dolphins, who just allowed Josh Allen to throw for 256 yards and three touchdowns in addition to some production on the ground. Mayfield could be in line for his first 300-yard performance on Sunday.WEEK 12 NON-PPR RANKINGS:Quarterback | Running back | Wide receiver | Tight end | D/ST | KickerWeek 12 Fantasy Football FAAB targets: RBDerrius Guice (WSH); FAAB Bid: 12-15%: Guice has been marred by injuries during his young career, but at least (for now) he’s healthy and showing off the talent that made him a second-round pick in the 2018 draft. Guice only touched the ball eight times on Sunday, but he turned his lone reception into a 45-yard touchdown while adding 24 yards on the ground. Next week the Redskins play the Lions, and Detroit is susceptible to giving up big ground days. With Dwayne Haskins struggling at quarterback and a bad offensive line in front of him, it could be a day where Washington leans a little more on the run. As bad as the Redskins are in pass protection, they at least rank 12th as a team in run blocking, according to Pro Football Focus.LeSean McCoy/Darrel Williams (KC); FAAB Bid: 12-15%: You may want to go up to 20-25 percent for McCoy, but the downside is that you’d be spending up for a running back you can’t use for two weeks. Damien Williams was questionable last week with some personal matters that kept him out of practice, but he did travel with the team to Mexico City for Monday night’s game. He then he left with what appeared to be a chest or a rib injury. McCoy looked OK in the work that he did get after Williams got hurt. In total, McCoy finished with 29 rushing yards and a touchdown on seven carries while catching four-of-six targets for another 28 yards. Ball security has been a massive concern for McCoy, and it’s kept him on the sideline the past few games behind Williams, and to the surprise of no one McCoy fumbled it last night inside the 10-yard line and miraculously recovered it on his own. Ball security is job security so I’m not entirely convinced he’s “the guy” in Andy Reid’s eyes. Darrel Williams gets some love, as well. We saw earlier in the year how effective the other Williams could be when both McCoy and Damien were hurt, and he did pretty well Monday night. He finished with 35 rushing yards and a score to go with two receptions. The downside to claiming either of these guys is that they’ll ride the pine next week with the team off and in two weeks Damien Williams could be back. Keep an eye on Damien’s injury, but these might be two players you stay away from if you need immediate help for next week.Jonathan Williams (IND); FAAB Bid: 7-10%: This is tricky because the opportunities will clearly be there for Williams. Marlon Mack underwent a procedure on his injured hand and will miss the team’s Thursday night game in Houston. In relief of Mack on Sunday against Jacksonville, Williams ran for 116 yards on 13 carries and had a 31-yard reception. Nyheim Hines can get some love for a similar bid in PPR formats, but Colts head coach Frank Reich has already gone on record saying that Hines’ role won’t change, so that’s at least good news for Williams heading into Thursday. Of course, Jordan Wilkins (ankle) could return soon to further complicate this stuation. Aside from the hand injury, Mack has had his share of nagging injuries before, so it’s not a terrible idea to handcuff Williams once Mack returns as it’s no guarantee he’ll be back for Week 13, though the team is optimistic for that time table.Bo Scarbrough (DET); FAAB Bid: 6-7%: As the running back carousel continues to turn in Detroit, Scarbrough is the next man up for opportunities. The Lions are decimated with injuries, and it’s been a struggle for them to get the ball moving on the ground. However, Scarbrough did show some semblance of effectiveness against a tough Dallas run defense last week. On 14 carries, he totaled 55 yards while finding the end zone. He takes a hit in PPR formats as the pass-catching role is still J.D. McKissic’s. But with a matchup against the Redskins this week, Scarbrough is a low-end FLEX streamer. Washington is allowing more 130 rushing yards per game to teams, making Scarbrough’s in an decent spot next week.WEEK 12 PPR RANKINGS: Running back | Wide receiver | Tight endWeek 12 Fantasy Football FAAB targets: WRDeebo Samuel (SF); FAAB Bid: 12-18%: Don’t feel obligated to go all the way up to 18 percent because once George Kittle and Emmanuel Sanders are 100 percent healthy then Samuel’s value takes a slight hit. However, it could be difficult for the 49ers to shy away from Samuel given his performance of late. He has 28 targets in his last three games and in those last two contests he has eight receptions for 100-plus yards in each game. So when the 49ers do get Sanders and Kittle back, why would they take the ball out of Deebo’s hands? Sure, the other two will get work, but it’s still feasible to think that the rookie could get six-to-eight targets per game, especially with how the running game has occasionally struggled at times despite Kyle Shanahan’s best efforts to get that going. The 49ers and Samuel get a very good matchup this coming week against Green Bay that should feature plenty of targets to go around in San Francisco.DeVante Parker (MIA); FAAB Bid: 12-15%: Parker’s no stranger to the waiver column, and while his ownership has gone up in Yahoo leagues, he’s still below 50 percent owned on ESPN, which is surprising when he’s been a top-25 wide receiver all season. He has at least six targets in five straight games and in three of those games he has 10 targets. He has four touchdowns in his past seven games, and even in a difficult matchup this past Sunday against the Bills, he still finished with seven receptions for 135 yards. The rest of the schedule is very tempting for Miami if Ryan Fitzpatrick remains their quarterback, which he should. The Dolphins don’t go up against a truly difficult secondary until Week 17 against the Patriots, when most fantasy football leagues are done.Randall Cobb (DAL); FAAB Bid: 5-10%: Despite the numerous mouths to feed in Dallas with Ezekiel Elliott, Amari Cooper, Michael Gallup, etc., Cobb has seen three straight games with at least seven targets, and he has a touchdown in back-to-back games. The downside is that the schedule gets pretty difficult for Dallas going forward. Next week they’ll play the Patriots on the road, and while Cobb won’t be shadowed by Stephon Gilmore, he will likely still have a pretty difficult day out of the slot. The Patriots are allowing just more than 150 passing yards per game. Dallas could easily top 200 yards on volume alone, but Cobb’s value is going to take a hit with a fairly difficult schedule coming up.Tim Patrick (DEN); FAAB Bid: 6-7%: Patrick has largely been an afterthought this season, but that’s because he’s been hurt. He wasted no time making some noise on Sunday to the tune of four catches for 77 yards on eight targets. Brandon Allen’s completion percentage isn’t great, but he did throw the ball 39 times against the Vikings, and he made it clear he had three targets in mind: Courtland Sutton, Noah Fant, and Patrick. Those three accounted for 28 of his targets. Patrick’s basically available everywhere and could be worth a grab. The Broncos have a difficult road matchup against the Bills in Week 12, but the schedule gets easier for Denver, and the Broncos could find themselves throwing it as much as they did this past Sunday.MORE WEEK 12:Waiver pickups | Stock watch | Snap counts | Fantasy playoff SOSWeek 12 Fantasy Football FAAB targets: Tight EndNoah Fant (DEN); FAAB Bid: 8-10%: With Travis Kelce, Hunter Henry, and Kyle Rudolph on bye this week, there’s a need for tight end streamers in Week 12. Fant is coming off a game where he led all Broncos pass-catchers in targets with 11, despite only catching four. But the target share is enough to perk your ears up. He has 24 total targets in his last three games, and similar to Tim Patrick mentioned above, the matchup is tough against the Bills this week. Ryan Fitzpatrick managed to throw for more than 300 yards on the Bills, but he really needed volume to get there. But Denver hasn’t held Brandon Allen back from a large volume of pass attempts, so there’s some optimism for Fant and his fellow pass-catchers. It’s possible that Fant is breaking out toward the end of his rookie season, and the schedule gets much easier after this week.Jacob Hollister (SEA); FAAB Bid: 7-8%: Hollister is coming off his bye week, so if you own Travis Kelce, this might be a good guy to target on the wire. In his two games prior to the team’s bye week, Hollister saw 16 targets and found the end zone three times. The Eagles have only allowed three touchdowns all season to tight ends, but even last week Benjamin Watson had three catches for 52 yards and the Patriots offense is in much worse shape than Seattle’s. With Hollister’s recent success, the Seahawks should look to keep him involved against a weak Philadelphia secondary.Ryan Griffin (NYJ); FAAB Bid: 6-7%: With Chris Herndon out of the picture for this year, Griffin is the featured tight end in the Jets offense … whatever that means. But he can still be productive for fantasy purposes. Everyone knew the Jets schedule was going to get easier, and we’ve seen it with Sam Darnold’s performances lately. Griffin has at least four receptions for 50 yards in three of his past four games, and he gets a pretty good matchup against the Raiders, who have allowed seven touchdowns to tight ends on the season. Griffin’s a viable streamer if you’re a Kelce owner in deeper leagues.Cameron Brate (TB); FAAB Bid: 5-6%: I can’t believe I almost forgot to mention a guy who is coming off 14 targets. Brate and Jameis Winston have a well-documented history, and while Brate’s a little inconsistent (and has had issues staying healthy), you have to acknowledge 10 catches on 14 targets. Brate still finds his way to the bottom of the list because it’s not a great matchup against a rejuvenated Falcons defense this week. But he’s still worth looking at in deeper leagues even if he moves forward with five-to-seven targets per game.WEEK 12 DFS LINEUPS: FD cash | FD GPP | DK cash | DK GPP | Y! cash | Y! GPP Week 12 Fantasy Football FAAB targets: D/STAtlanta Falcons: So, the Falcons suddenly have a pass rush. Who knew? After totaling just seven sacks through their first eight games, the Falcons have 11 sacks in their past two games while allowing just a dozen total points to New Orleans and Carolina — both on the road. This week the Falcons get the Buccaneers at home. The Bucs allow Jameis Winston to get sacked 8.3 percent of the time, and of course it’s Winston, so he’s prone to multiple turnovers in a game.The Falcons picked off Kyle Allen four times last week. Since coming off its bye week, the Falcons defense has been very impressive.Cleveland Browns: Despite the better play of the Dolphins, they’re still an offense we want to target in fantasy. Fantasy D/STs have posted at least nine fantasy points in nine of 10 games against the Dolphins this season, and in the one outlier, the Jets still had a six-point return, which is perfectly fine. The concern is with the Browns’ pass rush, as Myles Garrett won’t be playing after his actions in last Thursday’s game, and Larry Ogunjobi will likely miss the game since I don’t think his suspension will be dropped. The Dolphins offensive line still has a 9.8-percent adjusted sack rate, which is third worst in the league.Seattle Seahawks: I’m not a fan of this matchup since the Seahawks have to travel to the East Coast to play the Eagles in a 1:00 p.m. ET game. However, Seattle is coming off their bye, and the Eagles are a little banged up. They were without Alshon Jeffery and Jordan Howard last week and they lost Lane Johnson and Jason Peters in the game. Those two losses could prove to be costly. If they’re inactive in Week 12, then it could be a fun day for the Seattle pass rush. Week 12’s FAAB report brings you some solid options to pick up off the waiver wire, especially at running back. Injuries created a lot of opportunity last week, and we have some important teams sitting out during the final bye week of the year (Chiefs, Vikings, Cardinals, and Chargers), so you might be in need for some streamers. We have you covered with the best fantasy football waiver wire targets and free agent sleepers heading into Week 12.Below is an estimation of how much of your FAAB budget you should spend on these players, though obviously you should adjust based on the trends of your specific league(s).