In his report, Sir William Castell, chairman at the Wellcome Trust, said: “Danny Truell [the trust’s CIO] and his investment team continue to evolve our portfolio to ensure we have greater control of our destiny and that our long-term returns are driven more by the evolution of businesses than by short-term market fluctuations.”For example, over the past year, the trust – which does not invest in companies deriving a material turnover or profit from tobacco-related products –neither sold shares nor added any new holdings to its directly managed Mega Cap Basket of 31 holdings in large companies, valued at £3.4bn.Set up in late 2008, the basket has returned 55% on cost, the best performer being its £255m block of Marks & Spencer shares, which has returned 134%.A significant post-balance sheet development was the Twitter IPO, which resulted in a profit of $100m, from a stake of more than 1% in the company.A further $100m profit came from the sale of Wellcome’s stake in drug company Amplimmune to AstraZeneca.The report said market timing was an important tool for the fund.“Having significantly increased our exposure to public and private equity holdings in the period between 2008 and 2011, when many investors had become risk-averse, we have reaped the rewards in the last two years as they have again embraced risk assets,” it said.Equities in total account for 74.5% of the trust’s portfolio.The report added that, over the past decade, the trust had consistently managed to secure better returns than equity markets – 10% per annum versus 9% for global equities – while recording much lower levels of volatility.However, the largest contribution to equity performance came from the outperformance of strategies against their benchmarks.The report said: “The £612m internally managed Optionality Basket – which consists of companies whose operating performance and valuation appear to offer considerable upside potential given the underlying strength of their franchises – led the way, returning 47% and beating markets by 29%.”Turning to fixed income, the trust said: “Not owning bonds or commodities, which generally delivered negative or lacklustre returns, removed a potential drag on performance. Both nominal and real bond yields remain, in our opinion, too low as a consequence of financial repression, and we are unlikely to change our stance on bonds.”But it said investment opportunities might be more interesting in commodities.The real estate portfolio – 10.2% of assets – is made up 90% of residential property, which recorded another strong year.As for the immediate future, Wellcome expects asset returns to be weaker over the next five years – say in the high single digits – than they have been over the last five or 10 years.“Companies will continue to struggle to grow revenues, given the negative impact on the productivity of both labour and capital from continuing zero interest rate policies, which divert capital away from productive investment,” said the report, which also said equities now appear fairly valued.The report concluded: “Our response has been to concentrate our portfolio further to seek excess returns, which are driven by the success of individual assets, business models and partnerships over the long term rather than merely by market price movements.”More than 80% of the portfolio value is now concentrated in just under 100 directly held public or private assets or in external partnerships, each with a value exceeding $100m. The Wellcome Trust, the UK’s biggest charity, made a total return of 18% on its investment assets for the year to 30 September, thanks partly to counter-cyclical action in previous years, according to its annual report.Returns were £2.6bn (€3.1bn) on a portfolio worth £14.5bn at the start of the year, with investment assets now worth £16.4bn.The trust – whose main activity is funding medical research – said it had enjoyed positive returns from each major element of its portfolio – public equities, private equities, venture capital, hedge funds and property – over one, three, five and 10 years.All those asset classes recorded gains of between 15% and 20% over the past year.
Otago Daily Times 23 August 2019Family First Comment: University to become pot shop.“The Otago University Students’ Association is a step closer to eventually selling marijuana, after students voted to investigate the idea should the drug become legal.” Dopey idea.The Otago University Students’ Association is a step closer to eventually selling marijuana, after students voted to investigate the idea should the drug become legal.A members-only OUSA general meeting was held on Thursday afternoon and was attended by about 120 people.More than 70 members of the association voted to investigate the idea, while 34 voted against, and 11 abstained.OUSA spokesman James Heath said the investigation was only in the early stages, and stressed the OUSA did not have an official position on whether it should sell cannabis or not.“It was made quite explicit that this was the start of a long process,” Mr Heath said.A spokeswoman said the association could not comment on the channels it would be exploring, saying it would depend on what happened nationally.Students also voted to accept several changes to their executive structure and a new constitution, which had taken months to prepare.The vast majority of students supported the changes, only eight voting against them and three abstaining.https://www.odt.co.nz/news/dunedin/campus/university-of-otago/ousa-will-look-legal-sale-cannabis
GILLETTE, Wyo. – Big IMCA Modified paydays are on the line each night of Gillette Thunder Speedway’s 19th annual East-West Clash.Friday, Aug. 31 and Saturday, Sept. 1 features pay $1,000 to win while the Sunday, Sept. 2 main event pays $1,500 to win.All three races are qualifying events for the 2019 Fast Shafts All-Star Invitational ballot.IMCA Sunoco Hobby Stocks run for $250 to win on Friday and Saturday and for $350 to win on Sunday.IMCA Speedway Motors Weekly Racing National, regional, Wyoming state and track points will be awarded all three nights.Entry fee each day is $75 for Modifieds and $35 for Hobby Stocks.Pit passes are 430 a day or $75 for all three days.More information about the East-West Clash is available by calling 307 682-8866 and on Facebook.
Napoleon, IN— USPS discovered mold at the Napoleon Post Office and operations have been immediately suspended. the Postal Service is temporarily relocating operations from the Napoleon Post Office located at 8949 North US Highway 421, Napoleon, IN 47034 to the Osgood Post Office located at 201 North Walnut Street, Osgood, Indiana 47037.Hours of operations for the Osgood Post Office are Monday through Friday 7:30 am to 4:00 pm and Saturday from 7:30 am to 11:30 am.
Press Association Berbatov has been allowed to travel to Monaco for a medical ahead of a potential loan move to the Ligue 1 side. The Cottagers have replaced him with the highly-rated Mitroglou, who has moved to Fulham from Olympiacos for an undisclosed fee Fulham have moved to replace Dimitar Berbatov by completing the signing of Greece striker Kostas Mitroglou. He has found the net just four times in the Barclays Premier League and his agent indicated that his client was unhappy at Craven Cottage shortly after the sacking of Martin Jol. A move back to Spurs, where he is adored by the club’s fans, would have been an ideal scenario for Berbatov. But a transfer to Monaco would still be a good move for the former Manchester United man. Berbatov was due to undergo a medical at Monaco, who sit second in Ligue 1, on Friday afternoon. If he passes that, he will sign on loan until the end of the season, when his contract with the Cottagers expires. Fulham have been one of the busiest clubs in the market on deadline day. The west London club snapped up Lewis Holtby on loan until the end of the season and have also lodged a bid for Swansea defender Neil Taylor. The Cottagers also announced on Friday morning that defender Aaron Hughes had joined Sky Bet Championship club QPR on a free transfer. Press Association Sport understands Fulham are hoping to bring in at least three more signings before the deadline. Holland international John Heitinga is currently finalising a move from Everton, while Manchester United youngsters Larnell Cole and Ryan Tunnicliffe appear close to signing. West Ham were interested in signing Mitroglou but the 25-year-old has opted to move to Craven Cottage instead. Mitroglou has signed a four-year contract with the west London club. The striker began his career in Germany, but moved to Olympiacos in 2007. He has enjoyed a superb season so far, scoring 14 league goals in the Greek Super League. In total the forward scored 62 goals in 148 appearances for Olympiacos Fulham manager Rene Meulensteen will hope that Mitroglou can fill the void left by Berbatov, who has struggled for form recently. Berbatov joined Fulham in August 2012 and enjoyed a successful first season with the club, scoring 15 goals. This season has been a different story for the Bulgarian, however.
A West Palm Beach mother and her twin brothers were found dead just eight days after a judge denied the woman a restraining order against her ex-boyfriend and would be killer.The incident occurred Wednesday around 10 p.m. on Cole Street, just north of Belvedere and North Military Trail. Authorities responded to the scene to find 40-year-old Yasnai Moliner Yera and her two twin brothers dead inside of a home while Yera’s boyfriend and the father of her two-year-old son 41-year-old Yuniel Martinez De La Cotera, was standing next to a vehicle in the street. While several people are blaming the judge for not issuing a restraining order, a local domestic violence advocate spoke to our news partners at CBS12 and explained that even though Yera wrote a letter to the judge explaining that her ex-boyfriend was “emotionally and mentally abusing me,” it was not enough to gain a restraining order.“She is talking about him taking their money and him taking the car and him threatening to take the house and of course, for a lot of victims, those are immediate emergency type things. But they don’t meet the legal definition of domestic violence. There is nothing in here about whether he has threatened her life, threatened to harm her or that he actually did physically,” said Dr. Mary Cauthen, YWCA Chief Program Officer.Dr. Cauthen continued saying that under Florida law, a judge can only issue a restraining order if the victim can show they have been physically abused or are receiving threats of physical violence.While the judge did not immediately issue a restraining order to Yera, she was scheduled for a hearing about the case that was supposed to take place this week.Yuneil Martinez De La Cotera Leon is currently being held at the Palm Beach County Jail on three counts of first degree murder.
Associated Press August 25, 2020 The Latest: No fans in stadium for first 2 Vikings games Tennessee will be selling tickets for approximately 25% of the seats at Neyland Stadium for this season.The stadium has a capacity of 102,455, counting everybody in the building, which could mean around 25,000 fansThe Volunteers’ first home game is Oct. 3 against Missouri and university officials say restrictions could change during the season based on statewide virus data and recommendations from public health officials. Tennessee asked fans statewide to wear masks in public.Athletic director Phillip Fulmer says he empathizes with the thousands of fans who won’t get to go to games in Neyland this fall. Fulmer says the circumstances are beyond the control of Tennessee officials and they will do their best to create the safest environment both inside and outside the stadium.Current students and active donors to the Tennessee Fund with season tickets get top priority for tickets and season tickets will be offered based on annual amount given and the order to the Tennessee Fund. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The Minnesota Vikings will play at least their first two home games without fans in attendance. With current Minnesota Department of Health guidelines specifying an indoor venue capacity of 250 people, officials from the Vikings, the state, U.S. Bank Stadium, the NFL and the city of Minneapolis were unable to establish a prudent way to open the gates to the public for now.The Vikings will host Green Bay on Sept. 13 and Tennessee on Sept. 27 with the 66,000 seats empty. Over the ensuing five weeks, Minnesota plays at home only once, on Oct. 18 against Atlanta.In a statement, the Vikings said: “We have sought to balance the opportunity to provide fan access with the responsibility to adhere to public health and medical guidance in order to maintain the health and safety of fans, players, staff members and the broader community. Ultimately, public health is our top priority.”NFC North rivals Green Bay and Detroit have announced their first two home games will be played without fans. Chicago also will start the season without spectators but has not specified for how many games.___ The original prices for season tickets will not change with Tennessee set to host five Southeastern Conference opponents for the first time since 1959.Students can start requesting tickets issued on a game-by-game basis Sept. 23.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports
QPR are expected to formally complete the signing of Nancy midfielder Samba Diakite later today.The 23-year-old Mali international, currently representing his country at the Africa Cup of Nations, has chosen a move to Loftus Road despite interest from Lyon.Rangers have agreed the signing of Diakite on an initial loan deal with a view to completing his permanent transfer in the summer if they stay in the Premier League.AdChoices广告Follow West London Sport on TwitterFind us on Facebook
UPDATED: Nov. 13, 2011, 11:34 p.m. The 3-pointer from the corner against Cal State-Los Angeles provided a peek at the past and future for C.J. Fair. Last year, it would have been completely unorthodox for the 6-foot-8 Fair to confidently bury a shot from long range. He attempted just three 3s as a freshman, making only one. ‘I hit my first 3 and missed my next two,’ Fair said. ‘And I had to stick with what I knew I could do. My time was limited, so I didn’t want to keep trying.’ But flashback a few more seasons — to his time playing AAU basketball for the Baltimore Stars — and the story of Fair’s jump shot is quite different.AdvertisementThis is placeholder text ‘His jump shot? C.J.’s always had a jump shot,’ said Antonio Barton, a current Memphis guard and Fair’s former AAU teammate. ‘I’d like to see him shoot more now that he’s in college. When he was little, C.J. was one of the best shooters on our team.’ The rare triple from Fair in SU’s first exhibition game Nov. 1 — which brought his mother to her feet in the stands — showcased the beginning of the jump shot’s rebirth. Following a freshman season in which Fair played 18.6 minutes per game and earned his time through strong rebounding and defense, he enters the 2011-12 season with the goal of expanding and unleashing more of his offensive game for the No. 5 Orange. The egoless Fair did only what the coaching staff asked of him as a freshman, and, as a result, his minutes increased throughout the season. That fostered a sense of belief in the then-19-year-old forward. And it’s something that pushed him toward a productive offseason. ‘I earned my way into it,’ Fair said. ‘Going into this year, that gave me confidence in myself. I feel more comfortable out there. And this year I can start out with a bang.’ Rediscovering that 3-point stroke is a big part of Fair’s plan. During his first three years of high school, which were played at Baltimore City College (Md.) High School, Fair said he was known as a jump shooter. But a torn anterior cruciate ligament in 11th grade forced him to lose a full year of basketball. Lost, too, was the shooter’s mentality. When he returned for his senior year, after transferring to Brewster Academy in New Hampshire, Fair subconsciously transformed into more of a slasher. ‘I came back and I don’t know what got into me, but I started being a driver,’ Fair said. ‘So I had to try and get the shooting back.’ It was the focus of his work during the summer, both in Syracuse and at home in Baltimore, with the goal of extending his shooting range by the time he arrived back on campus. At home he trained with a family friend as well as the Barton brothers — the aforementioned Antonio and his brother, Will, who also plays at Memphis. All shooting, all the time. ‘Repetition, repetition, repetition,’ Fair said. ‘Until I couldn’t even lift my arms.’ The results are ‘unbelievable,’ SU assistant coach Adrian Autry said. Head coach Jim Boeheim went so far as to label it a ‘two-fold’ improvement. The better jump shot brings Fair closer, yet also distances him further from teammate James Southerland. Both are 6-foot-8 forwards who straddle the line of small forward and power forward. Both competed for playing time off the bench last season. Southerland’s strength has always been on the offensive end — a silky shooter with touch from beyond the 3-point arc. Defense and rebounding are his downfall. For that reason, Fair’s and Southerland’s minutes developed an inverse relationship. Last year’s Syracuse team didn’t need more offense. It needed a defensive spark that could rebound and exude toughness. ‘When you’re out there and play extended minutes, you’re going to have to contribute,’ SU graduate assistant Gerry McNamara said. ‘That’s just the bottom line. If you’re going to be on the floor, you’re expected to do that. There were times last year where James didn’t rebound at a high rate last year and C.J. did. And I think that affected how the minutes played out.’ There’s no better example than last year’s crushing loss on the road at Pittsburgh. Without star forward Kris Joseph, who was out with a concussion, Syracuse needed one of its bench players to emerge as a viable contributor. Fair and Southerland both played in excess of 35 minutes, but their stat lines read like opposites. Southerland scored eight points and grabbed but a single rebound. Fair exploded for what was then a season-high of 16 points and hauled in nine rebounds, five of which came on the offensive end of the floor. It was this game, despite the loss, that made Joseph realize his ‘little brother’ could be the next dominant swingman down the road for the Orange. ‘I saw flashes of it in the nonconference,’ Joseph said. ‘But definitely, definitely after that Pitt game he knew that he belonged. He stepped up, and since then, I saw him go up. I never saw him step back after that game.’ From that game forward, Fair scored in double figures six times and grabbed seven or more rebounds six times as well. Southerland never reached double figures the rest of the season, nor did he grab more than three rebounds in a game after the loss to Pittsburgh. Fair is adamant that Joseph has the starting small forward spot locked down for the upcoming season. But his length and versatility on offense and defense have him eyeing the starting power forward position left vacant by the departure of Rick Jackson. It’s a position that requires him to rebound consistently — like he did last year — while also defending bigger opponents. Jason Smith, who coached Fair at Brewster, said that shouldn’t be an issue. On a team with ‘seven or eight’ future Division-I players, there was a three-week period when Smith opted for a smaller lineup. Fair and current Iowa State forward Melvin Ejim, who is 6 feet 6 inches, were the two frontcourt players. And Fair was expected to rebound and defend like a center. He never complained, Smith said, and had a slew of games with 12, 13 or 14 rebounds. ‘A lot of kids get caught up in positions — I’m a 2, I’m a 3, I’m a 4 — but I don’t think C.J. lets any of that stuff bother him,’ Smith said. ‘His mental approach to the game is fantastic. He understands he’s a basketball player and that he can do many different things.’ And the retooling of his jump shot represents the newest thing Fair can do on the court. Whether he earns a starting spot is yet to be seen, but when addressing Fair’s role Boeheim made it clear that this year’s Syracuse team would have less of a distinction between starters and players coming off the bench. Duane Davis, his former AAU coach, saw Fair a few times in the summer and noticed a different demeanor from the sophomore. Autry also saw it when Fair arrived on campus. He’s jumping again — bouncing off the floor — now fully recovered from that ACL injury. And with an increased confidence on the heels of a successful freshman year, his past coaches and everyone in the SU program is expecting a dynamic sophomore season. ‘Sit back and watch,’ Davis said. ‘He’s going to be something to see. If his confidence level is back where it was before his knee injury, he’s going to be fine. ‘I think he’s going to have a hell of a year at Syracuse this year. A breakout year.’ email@example.com Published on November 9, 2011 at 12:00 pm Contact Michael: firstname.lastname@example.org | @Michael_Cohen13 Comments Facebook Twitter Google+
When Wisconsin running backs coach Thomas Hammock announced he would return to the Camp Randall sidelines next season, Bret Bielema & Co. avoided more than simply the hassle of interviewing and selecting yet another new coach. Hammock – widely considered one of the Badgers’ top recruiters and one of the pre-eminent young position coaches in the country – was one of the candidates for, most likely, the same position for NFL’s St. Louis Rams. Although there is no official evidence that the former Northern Illinois tailback was offered the job, it seems quite likely that he was, since the Rams are still searching for a coach and CoachingSearch.com reported his interview went “very well.”Many fans were already writing off the talented coach, who was one of just three members of Bielema’s staff from last season who would return in 2012, as an unfortunate byproduct of the Badgers’ notable success between the hash marks. With former UW offensive coordinator Paul Chryst darting for Pittsburgh and carting former tight ends coach Joe Rudolph and former linebackers coach Dave Huxtable with him to the East Coast, the turnstile that was the Wisconsin coaching staff was one of Badgers’ fans top concerns this offseason.The loss of Hammock would have only added to the worrisome turnover levels, but the coach’s renewed commitment to the Badgers further acted as a sign that Madison is no longer just a temporary stop on the route to the top but rather a final destination for nationally-recognized coaches. No longer is Madison known for the nostalgic playing days of Ron Dayne that garnered Wisconsin football national attention at the start of the 21st century.Although both ended with tears sliding down the faces of UW’s stars in Pasadena, back-to-back Rose Bowls remain an undeniable sign of a top tier program. Hammock, who drew the Rams’ interest after serving just one year as Wisconsin’s running backs coach, clearly believes the Badgers will continue to expect BCS Bowl appearances and play accordingly.After being hired last February, the Jersey City, N.J., native’s words on the strength of the running back tradition at Wisconsin now appear more genuine than ever before.“Like I tell recruits, ‘What better place is there for a running back than Wisconsin?’” Hammock said. “I feel the same way as a coach. What better place for a running back coach than Wisconsin”?It sounds like a cheesy line to pump up the ego of a talented four-star running back, but it also reflects on the fact that Wisconsin is developing into and deserves to be a primary option for fleet-footed ball carriers across the nation.Analysts and fans alike may point out that Wisconsin football has made its name on the run-heavy offenses that crank out 1,000 yard rushers every season. It’s no surprise, then, that a running backs coach wants to stick around at a school where he can laud every recruit with the powerful line that they could be the next Montee Ball, who rushed for 1,923 yards and a still hard-to-believe 39 total touchdowns this season. In that view, one of the nation’s best up-and-coming college coaches turning down an NFL job only reaffirms that the Badgers boast one of the most recognized rushing traditions in the country.However, with the jump to the pros, Hammock would have seen a significant pay increase and set himself up nicely for consideration for NFL offensive coordinator openings farther down the road. Instead, he chose to stick with a premier Big Ten program that continues to creep deeper into the national landscape and, much like Chryst in the past, wait for the perfect opportunity.Loyalty to the school where he worked as a graduate assistant in 2003 and 2004 only carries so much weight in big-time decisions like whether to take an attractive job alongside NFL sideline giant Jeff Fisher. Ultimately, the decision for Hammock undoubtedly came down to “what is the career outlook of staying in Madison compared to heading for the Gateway Arch”?Piling onto the ever-growing stack of evidence that Wisconsin is an alluring place for the top coaches in the country is that the Rams turned to the Badgers in the first place when looking to fill a void on their own coaching staff. If UW was not building an elite program, NFL teams simply wouldn’t attempt to hire away its premier player developers.John Settle, Wisconsin’s tailbacks coach from 2006-2010, was similarly lured away by the NFL’s Panthers to take over the same spot in Carolina, establishing a pipeline between Camp Randall and the pros in which Badger fans should take pride.The threat of losing one of the few lasting sources of stability in Hammock may have been nothing more than a momentary scare for Wisconsin fans hoping for another Big Ten title-producing 2012 campaign. But, they must remember that even though such moments first appear to lack any favorable angle, these situations are an unfortunate effect of the glorious climb to college football’s peak.Convinced Hammock only stayed because he felt like he owed it to Bielema, or wanted the chance to guide Montee Ball to a Heisman this season? Let him know by tweeting @imccue.