Dutch regulators make further demands on pension fund costs

first_imgThey said they found that asset managers often declined to provide pension funds with requested data.“Pension funds should therefore ask themselves whether they wish to do business with players that don’t want to provide this information,” they said.In the regulators’ opinion, schemes should make cost-reporting arrangements with their asset managers in advance, as well as evaluate the service provided by their asset managers on an annual basis.The DNB and AFM also urged pension funds to report transaction costs in their annual reports.Although this is still currently optional, they reminded schemes that the new Pensions Act would make the reporting of these costs mandatory.DNB said Dutch pension funds spent approximately €5bn on asset management in 2013 and attributed a 2-basis-point, year-on-year increase in costs to performance-related fees.The watchdog also announced a survey into the extent to which pension funds factor integrity risk into their overall risk analysis.The results of this survey will determine whether additional rules will be necessary, it said.It added that the results would be presented as best practice.The regulator said all pension funds must submit a thorough integrity analysis for 2015, illustrating how they had translated their conclusions into policy. De Nederlandsche Bank (DNB) has ordered Dutch pension funds to make further improvements on the reporting of asset management costs, particularly those involving outsourcing by external managers.Drawing on a 2013 cost survey of more than 240 pension funds, the DNB, together with the communications watchdog (AFM), concluded that schemes needed to understand outsourcing costs fully before they could determined whether or not overall costs were appropriate.The regulators added that they had called on 21 pension funds to provide in-depth reporting on management and performances fees involving private equity, hedge funds and real estate – and that 15 had had to re-submit improved reports.The DNB and AFM looked at asset management contracts, information memorandums and annual statements, as well as pension funds’ own self-assessments.last_img read more

After season-ending injury, IUP QB Lenny Williams Jr. hopes to return to stardom

first_img Published on September 8, 2017 at 5:48 pm Contact Kaci: klwasile@syr.edu On third-and-nine from the Mercyhurst 29-yard line, Lenny Williams Jr. lined up in shotgun. The Indiana University-Pennsylvania quarterback took the snap and moved backward as Mercyhurst linebacker Chris Peluso barreled toward him. As Peluso pulled Williams Jr. to the ground, Williams Jr.’s right foot stuck in the grass. He slid to the ground, his legs spread into a split, his right leg twisted and the ball fell out of his hands. He grabbed his knee.“It was painful,” Williams Jr. said. “I knew something happened, but I didn’t know what. I didn’t know it was that serious, I just knew I bent it too far. Then I couldn’t get up off the ground and I knew it was something serious.”Williams Jr. tore his ACL, ending a record-breaking season three games early.The Nov. 5 game last year marked the first time the two-time Harlow Hill award nominee suffered a severe injury. Since transferring in 2014 from Division-I Temple, where the coaching staff wanted to change his position, Williams Jr. had started all but his first game at IUP. He has recorded the highest-average yards from scrimmage per game by any Crimson Hawk, with 247.8  through his first two seasons, although the injury sidelined him the remainder of the 2016 season.The last two seasons, Williams Jr. was nominated for the Harlow Hill Award, the Heisman equivalent for Division II. After months of recovery, he has returned healthy at IUP (1-0) for his redshirt junior season.AdvertisementThis is placeholder text“He’s a great athlete,” IUP head coach Paul Tortorella said. “He can hurt you running (the ball), he can hurt you from the pocket, he can hurt you throwing it outside the pocket.”Williams Jr. shines with his dual-threat ability. In two years, he ran for 1,825 yards and his 24 rushing touchdowns rank 10th among any IUP player. He began the 2017 season eighth in IUP history in total yards (5,204), with still two more years of eligibility. That earned Williams Jr. both the Pennsylvania State Athletics Conference and the Super Region One Freshman of the Year awards in 2015.It took four games for the dual-threat QB to break IUP’s quarterback single-game rushing record. Against Seton Hill Oct. 10, 2015, Williams Jr.’s 205 rushing yards earned him one of his first IUP records. The 205 was achieved in part because of a 60-yard touchdown. He scrambled then made eight of Seton Hill’s defenders miss.“The play took like 30 seconds,” Tortorella said. “It was like one of those things where you look at someone next to you and say, ‘Did that just really happen?’”Losing that weapon hurt the IUP offense. But finally, on July 20, Williams Jr. received a call from his doctor telling him he was cleared to play.“Knowing I’d be able to get back out there for camp, it was a good feeling,” Williams Jr. said. “Knowing I worked hard in rehab to get back in time and it happened, I was happy in myself for that.”Between July 20 and Aug. 31, Williams Jr. worked toward starting against Ashland in this season’s opener. In that game last week, with 1:45 left and the score tied at 23, he was given the opportunity to show he was back and healthy.Dump passes and short-burst runs moved the chains. Later, Williams Jr. sent about a 30-yard spiral to Swahneek Brown, but the ball slid threw his hands. Then he led IUP’s march down field with an eight-yard pass, 17-yard rush and four-yard pass that put IUP 29 yards from the end zone with 4 seconds on the clock.Kicker Dillon Sarka sent a 46-yard field goal through the uprights for the win, capping off the 10-play, 1-minute, 45-second drive initiated by Williams Jr. at QB.“To win this one,” Williams Jr. said, “that was a pretty good memory.”This season, Tortorella said he doesn’t expect Williams Jr. to put up the rushing numbers he had in the past. A number of talented receivers and running backs will provide him more chances to work out of the pocket and thrive as the dominant passer pre-injury.“I don’t set out every year to be nominated for a Harlow Hill,” Williams Jr. said. “I just want to win.” Comments Facebook Twitter Google+last_img read more

Tyler Skaggs returns to Angels disabled list as Eduardo Paredes returns to the majors

first_imgANAHEIM – The Angels placed pitcher Tyler Skaggs on the 10-day disabled list with a strained left adductor and added reliever Eduardo Paredes prior to Sunday’s game against the Oakland A’s.It was the 10th time that Paredes, a right-hander, has been recalled from Triple-A Salt Lake this season. According to Stats LLC, he is the first player in the last 25 years to be recalled at least 10 separate times by the same team in one season.By the fourth inning of Saturday’s loss to the A’s, Skaggs noticed the impact of the injury every time he pushed off his back leg.“I felt like I was kind of lobbing balls in there,” he said. “You can’t be doing that in the big leagues.” Skaggs allowed seven runs in 3-1/3 innings in a 7-0 loss.The 27-year-old left-hander spent 10 days on the disabled list in July with a right adductor strain, and 10 days on the DL in August with a left adductor strain prior to Saturday’s start.By Sunday, Skaggs said his groin still felt sore. He did not sound optimistic that missing the minimum 10 days would be an option.“I don’t think it’s necessarily so serious that I’ll miss the rest of the season but I need to give it the proper time,” he said. “Definitely the full 10 days and we’ll take it from there.”The Angels will play one game each of the next eight days before a day off, so Skaggs’ turn in the rotation will repeat on Thursday in Texas. They were already down one starting pitcher when Nick Tropeano returned to the disabled list with shoulder inflammation earlier in the week. For Skaggs, the recurring injury has torpedoed a career year in progress. In each of his last two starts, he has pitched merely 3-1/3 innings while allowing 10 and seven runs, respectively. Skaggs has seen his ERA rise from 2.62 to 3.78.Scioscia said that Skaggs “just never got to that point where he was comfortable turning the ball loose” on Saturday.Paredes, 23, pitched two shutout innings Sunday and has a 6.87 ERA in 14 games out of the Angels’ bullpen. In 28 games at Salt Lake, he has a 3.41 ERA and five saves.OHTANI UPDATEShohei Ohtani will throw off a bullpen mound again Monday in San Diego, Scioscia said. This one will be more intense than Ohtani’s mound work Saturday, his first since undergoing a PRP and stem cell injection in June.“Maybe a little more than a touch-and-feel,” Scioscia said. “Not 100 percent but I think he will be putting more effort into it.”Scioscia said there is not a target date for Ohtani to return to pitching in major league games, but rather a “window.”“There’s a window when we hope it would happen but we can’t get too far ahead of ourselves,” he said. “We’d be guessing if we tried to get one date. There’s a window we’re looking at that we hope would work. Certainly pitching this year is the goal and we feel that’s attainable.”INJURY UPDATESCatcher Rene Rivera (knee) is scheduled to resume his minor league rehab assignment with back-to-back games Sunday and Monday with Class-A Inland Empire, Scioscia said. He’s expected to rejoin the Angels on the road this week, but “we won’t know until he gets through these back-to-back games,” Scioscia said. …Pitcher Matt Shoemaker (forearm) does not have a target date to begin a minor league rehabilitation assignment, but Scioscia said the right-hander is making progress in his bullpen sessions.“Not that he’s going to get to 110 pitches this year – there’s not a lot of time for that – but there has to be enough pitches to where he can functionally get to a certain point of the game,” Scioscia said. …Andrelton Simmons tweaked his left knee sliding into second base Saturday and did not play Sunday. The shortstop said he was available after going through his normal pregame warmups.UP NEXTAngels (LHP Andrew Heaney, 7-7, 3.96 ERA) at Padres (LHP Clayton Richard, 7-10, 5.13 ERA), 7 p.m., Fox Sports Westcenter_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more