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Shareholder Rights Directive could have ‘unintended consequences’

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first_imgForcing pension funds to disclose the main elements of all investment management agreements (IMAs) with asset managers could have unintended consequences that hinder long-term investing, PensionsEurope has warned.The industry association recommended the European Commission’s revised Shareholder Rights Directive require the disclosure of investment beliefs and how these are implemented through a fund’s investment strategy, rather than details of IMAs.In a position paper on the Directive, the association suggested that the requirement to identify all of a listed company’s shareholders should be dropped, limiting it to institutions that hold at least 0.5% of share capital.It said the 0.5% threshold was one already employed in the Netherlands and allowed companies to identify shareholders that owned a “relevant” stake in the firm. PensionsEurope also raised concerns about engagement policies proposed in the draft Directive, saying the requirement to explain voting behaviour would increase administration costs.Returning to the issue of investment management agreements, it said: “We consider it inappropriate to require disclosure of specific contractual arrangements between two parties, especially when, for example, the fund in which the institutional investor has invested is not public.”Additionally, the position paper pointed out that information about an asset manager’s strategy could be commercially sensitive, and argued that it would push pension funds to invest only in vehicles with more easily justifiable fees, rather than ones offering the best fee structure.“Thus, requiring institutional investors to disclose publicly the main elements of the arrangement with the asset manager would in our view not be the right way of achieving long-term investment, instead giving undue prominence to only a narrow element of the strategy, with potential unintended consequences,” it said.However, the association did praise a number of the proposals put forward by the Commission.It said it was “positive” to introduce a vote on remuneration, which, according to the initial proposal, would be binding, and that it would encourage dialogue between shareholders and companies.It also welcomed the greater focus on transparency, and said further protection for minority shareholders – through the related-party transaction requirements that will require a vote on certain deals – was a positive step.The association did raise concerns that the Directive was too prescriptive, echoing concerns previously voiced by the International Corporate Governance Network.,WebsitesWe are not responsible for the content of external sitesPensionsEurope position paper on revised Shareholder Rights Directivelast_img read more

Mary Ann Fuchs, 85

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first_imgMary Ann Fuchs, 85, of New Alsace, Indiana passed Tuesday, April 19, 2016.  She leaves Leo, her beloved husband of 62 years.  Mary Ann had four children:  Raymond (Bev) Fuchs of Morris, Barbara (Bob) Bissett, Rose Mary (Tony) Horner, and Robert Fuchs all of New Alsace.  She has 6 grandchildren and 6 great-grandchildren.  She also leaves her brother Paul Stock of New Alsace.  Mary Ann was preceded in death by her sister, Frances Stock.Mary Ann was a member of St. Paul Church (All Saints Parish) in New Alsace and also of the Ladies Sodality.  In her spare time she enjoyed gardening, working church festivals, cooking and baking.  There were always plenty of cookies for the grand kids.Visitation is Friday at St. Martin Church beginning with a rosary at 10:00.  Mass of Christian Burial is at St. Martin Church at 1:00 on Friday.Memorials: Masses and Donor’s Choicelast_img read more

Jay Z, Beyonce filming In Jamaica

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first_imgAward winning rap superstar Jay Z and his pop music celebrity wife, Beyonce, were in Jamaica filming for a new music video, much to the awe of many fans.The two were spotted on the streets of Trenchtown in Kingston, the old stomping ground of reggae legend Bob Marley, on Tuesday. Jay Z was riding a motorcycle and Beyonce was on the back as she blew kisses and waved at fans rocking pink boots and fishnet stockings. The superstars are apparently in the Caribbean island nation to shoot content for their upcoming joint venture.The Jamaica Observer reports that the two are accompanied by their three children and a nanny, and will be spending time at a private residence during their stay. The outlet also reported that the pair will be filming videos and songs while in Jamaica, likely for their ‘On the Run II Tour,’ which kicks off in June. The shoot is being directed by Melina Matsoukas.TMZ is reporting the two will also be shooting at Tuff Gong, Bob Marley’s home and studio. Jay Z last year recorded a single for his 4:44 album with Damian Marley.last_img read more

Today’s Daily Fantasy Baseball Rankings: Best starting pitchers, streamers for Wednesday, June 12

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first_imgMORE WEDNESDAY MLB: DFS picksToday’s Daily Fantasy Baseball Pitcher Rankings: Wednesday, June 12(O) = Opener | (PLR) = Primary Long RelieverRankPitcherTeamOpponentOpp. wRC+ vs. LHP (rank)Opp. wRC+ vs. RHP (rank)FDDK1Justin VerlanderAstrosvs. BrewersN/A104 (11th)$11,100$11,3002Joey [email protected] Giants68 (30th)N/A$7,900$9,6003Jose BerriosTwinsvs. MarinersN/A110 (7th)$9,600$10,3004Mike SorokaBravesvs. PiratesN/A95 (T-14th)$10,600$10,9005Yonny ChirinosRaysvs. A’sN/A93 (18th)$6,500$10,4006Zach PlesacIndiansvs. RedsN/A79 (26th)$8,400$7,4007Lance [email protected] Red SoxN/A106 (10th)$9,400$9,0008Miles [email protected] MarlinsN/A75 (T-29th)$7,600$7,2009Zach EflinPhilliesvs. D-backsN/A89 (20th)$8,500$8,70010Brandon [email protected] AstrosN/A117 (3rd)$8,900$7,60011Cole [email protected] Rockies88 (T-20th)N/A$7,200$8,10012Daniel [email protected] Royals71 (28th)N/A$6,100$5,00013Rick PorcelloRed Soxvs. RangersN/A108 (T-8th)$7,000$7,00014Danny DuffyRoyalsvs. Tigers91 (18th)N/A$6,900$7,40015Anthony [email protected] IndiansN/A84 (T-23rd)$6,300$6,70016Brett AndersonA’[email protected] Rays102 (T-12th)N/A$6,600$5,60017Merrill [email protected] PhilliesN/A94 (17th)$7,700$8,00018David HessOriolesvs. Blue JaysN/A75 (T-29th)$6,000$4,10019Shaun AndersonGiantsvs. PadresN/A84 (T-23rd)$6,500$6,60020Jordan YamamotoMarlinsvs. CardinalsN/A95 (14th)N/A$7,50021Edwin JacksonBlue [email protected] OriolesN/A83 (25th)$5,700$5,30022Tommy Milone (PLR)[email protected] Twins134 (1st)N/A$6,700$6,90023Mitch [email protected] BravesN/A101 (12th)$5,500$7,00024Antonio SenzatelaRockiesvs. CubsN/A108 (T-8th)$6,200$4,50025Cory [email protected] TwinsN/A120 (1st)N/A$4,000wRC+ is defined by Fangraphs as “[measuring] how a player’s wRC compares with league average after controlling for park effects. League average for position players is 100, and every point above 100 is a percentage point above league average. For example, a 125 wRC+ means a player created 25% more runs than a league average hitter would have in the same number of plate appearances. Similarly, every point below 100 is a percentage point below league average, so a 80 wRC+ means a player created 20% fewer runs than league average.” For more on the stat, click here. There are only four afternoon games on Wednesday, but three of the top seven pitchers in today’s MLB DFS pitcher rankings will start in the daytime. However, all of our top four will go under the lights, so there are still some legit studs — but not many sleepers — for FanDuel and DraftKings contests.Justin Verlander (vs. Brewers) is the no-doubt top starter, so expect him to be highly owned. The value options are more matchup-based than talent-based, as Miles Mikolas (@ Marlins) and Daniel Norris (@ Royals) stand out. David Hess (vs. Blue Jays), Shaun Anderson (vs. Padres), and Edwin Jackson (@ Orioles) have good matchups on paper, but chances are you’ll want nothing to do with those three. Watch ChangeUp, a new MLB live whip-around show on DAZNBrandon Woodruff (@ Astros) has the most boom-or-bust potential given his matchup, but if you use him in a GPP, he could pay off in a big way. The same goes for Cole Hamels (@ Rockies) pitching in Colorado. Given the lack of arm talent today, both are legit options.Rain doesn’t look like it will have any real effect on today’s games, but check the Fantasy Alarm Weather Center closer to lineup lock for the latest reports.last_img read more

SHOOTING RANGE GETS THE BULLET

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first_imgPlans for a state-of-the-art shooting range have been shot down in the High Court.The court ruled yesterday that the range did not have planning permission.Permission for a range, used by a target shooting club near Lifford, had been validly refused by Donegal County Council in 2011, Mr Justice Nicholas Kearns found. The action arose after Donall McGroary, secretary of the Donegal Target Club, applied to the local Garda Superintendent Vincent O’Brien for authorisation for a range at Cavan, Upper Killygordan, near Lifford.SHOOTING RANGE GETS THE BULLET was last modified: June 30th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Donegal Target ClubLiffordshooting rangelast_img read more