​PenSam hands €2.6bn equities to Amundi, keeps Nordea for rest [updated]

first_imgDenmark’s PenSam has picked Amundi to manage more than half of its €4.8bn global listed equities portfolio, months after the pension fund announced the entire portfolio would be re-weighted and measured against the MSCI All Country World Index (ACWI) Climate index rather than the original ACWI.Amundi said that under the new mandate from the Danish labour-market pension fund, it will manage over €2.6bn of the fund’s global equities in a separate account, tracking the climate-tilted index while incorporating “client specific customisations”.Claus Jørgensen, PenSam’s CIO, said: “The partnership was a natural fit for PenSam as we see Amundi as a leader within ESG indexing.“The mandate will be key to achieving our key goals of strong returns, integration of climate objectives and low cost,” he added. Asked by IPE about the management of the remaining half of the global equities portfolio, PenSam said this would continue to be handled by Nordea, with the external manager having “more or less” kept its mandate and allocation.PenSam senior portfolio manager Henrik Lorin Rasmussen told IPE that Amundi had taken over the assets from a number of other external managers, but added that it was the pension fund’s policy not to disclose names of firms it had chosen not to use anymore.“We are currently not looking to use other managers than Amundi and Nordea – as we are quite happy with both,” he said, referring to the pension fund’s listed global equities allocation.For its part, Amundi said it was selected for the task based on its expertise in indexing, combined with its “commitment and track record within ESG and climate investing,” adding in the joint announcement that it had been managing tracking strategies and co-developing ESG-focused indices for many years.Fannie Wurtz, head of Amundi ETF, indexing and smart beta, said: “As a pioneer in index managed climate solutions since 2014, Amundi’s size and scale positions us perfectly to deliver best-in-class index management.”The €20bn Danish pension fund announced four months ago that it had switched weightings in its passively-managed listed global equities portfolio to take account of climate factors, by adopting the MSCI climate index for the whole €4.8bn allocation.This article was updated on 8 July to add more information and comment from PenSam on its choice of external managers.Looking for IPE’s latest magazine? Read the digital edition here.last_img read more

Lakers’ Kobe Bryant learning more post moves from James Worthy

first_imgLakers coach Byron Scott and Bryant both attribute that skill toward his willingness to perform repetitive drills throughout the year. “He’s perfected it just a lot like MJ did in his later years of playing in this league,” Scott said. “It’s really helped him to get that little bit of space that he needs to create that space that he needs to get a shot up over guys.”Calm and collectedBryant’s recent practice tirade aside, Scott said the Lakers’ star has remained patient amid the team’s struggles. So much that Scott reported Bryant constantly texts him late at night to calm him down. “Even though we’ve struggled so far this year, in the back of his mind, he still wants to win a championship,” Scott said. Bryant’s contract ends after the 2015-16 season and is not expected to stay longer. Scott also defended Bryant’s two-year, $48.5 million extension that left the team with enough cap space this offseason only to sign one player at a max contract instead of two.“I didn’t think it was the money,” Scott said. “He could retire and would be fine. I think it was the loyalty the Lakers have toward him and him toward the Lakers.”Taking heatIt seemed likely Bryant would break Jordan’s record on Friday against San Antonio. But he finished with 22 points on 7-of-22 shooting, nine assists and four steals, while taking over point guard duties. Bryant also committed five turnovers, including three late in the fourth quarter, and played 40 minutes in a game Scott conceded he looked “exhausted.”“I guess it was my fault,” Scott joked about Bryant’s delayed milestone. “But I just knew at that time his presence when he is on the floor is still going to be effective.” He said itScott on Nick Young, the Lakers’ charismatic forward: “Heavenly Father broke the mold when he made him.” MINNEAPOLIS — For someone who has relished becoming the NBA’s elder statesman, Kobe Bryant still seeks to expand his game.So much that Bryant has asked former Lakers forward James Worthy to attend practices to show him more post moves to improve his positioning, using footwork and playing off angles. “I enjoy learning man,” Bryant said following the Lakers’ 100-94 win over the Minnesota Timberwolves at Target Center. “It’s fun to constantly try to figure out new things and figure out things to do better. I’m very blessed to be with an organization where you have some of the greats of all time sitting right there. At any given moment, you can call them at and they’ll come to practice and work with you.”Bryant surpassed Michael Jordan for third place on the NBA’s all-time scoring list on Sunday partly because he already crafted a fadeaway jumper and footwork, two skills Bryant attributes both to Jordan and former Houston Rockets center Hakeem Olajuwon. center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Former Lakers prospect Moe Wagner spreading his wings with Wizards

first_img Lakers, Clippers schedules set for first round of NBA playoffs How athletes protesting the national anthem has evolved over 17 years Lakers practice early hoping to answer all questions Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed BRADLEY TO BE EVALUATED SATURDAYAfter missing forward Kyle Kuzma and point guard Rajon Rondo to start the season, the Lakers’ injury report has been largely a vacant patch. There’s been an exception for the last two weeks: Avery Bradley, who has been sidelined with a hairline fracture in his right leg. Frank Vogel said the Lakers will reevaluate the veteran guard on Saturday.Related Articlescenter_img LOS ANGELES — Moe Wagner looked at home on the Staples Center court, going through his warmup routine – a smart assortment of 3-pointers, dunks and floaters – before stopping and bending at the waist to greet NBA superfan Jimmy Goldstein on his way to the visitors’ locker room, where he’d get taped in preparation for his first game against his former team.Wagner, of course, is wearing red these days, one of the Lakers’ young castoffs who landed in Washington, D.C., where he’s benefiting from an opportunity to grow alongside former Lakers Thomas Bryant and Isaac Bonga.Bryant arrived last season after spending his rookie year with the Lakers, for whom he appeared in just 15 games and scored only 22 points. After the Wizards claimed Bryant off waivers following Bryant’s rookie campaign, he rewarded them by putting up averages of 10.5 points and 6.3 rebounds over the course of 72 games. This season, he’s increased those averages to 14.8 points and 8.8 rebounds.For the 22-year-old Wagner, who the Lakers drafted 25th overall out of Michigan in 2018, his time so far in the nation’s capital has translated into more minutes – and more shots going in. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersThe 6-foot-11 center entered Friday’s game in L.A. just 10 points shy of the 207 points he scored in his entire time as a Laker – and as the NBA leader in two-point field goal percentage (72.8), true shooting percentage (74.1) and effective field goal percentage (72.3).“Moe just plays hard and he has a great spirit,” Wizards coach Scott Brooks said of Wagner, who was averaging 12.3 points, 5.4 rebounds and 1.4 assists in 19.2 minutes per game off the bench entering Friday.“He shows a lot of love for the game and I think his teammates see it and they admire the way he plays. He inspires you, he hustles, he takes charges, he moves the ball, he’s a good 3-point shooter, he has some handles that you don’t think a guy that size can do, he puts it behind his back and scores around the basket.”Brooks said he can foresee Wagner’s developing skill set leading to an extended stay in the league.“He’s gonna have a long successful career,” Brooks said. “And we’re hoping that it’s with us forever because I like coaching guys like him because he gives you everything he has … he understands his role. You can take him out after three or four minutes, he’s as excited to come out as he is excited to be going into the game, because he loves to play and he’s just a great teammate.” Newsroom GuidelinesNews TipsContact UsReport an Error The Lakers managed to win the first eight games that Bradley missed, but they’ve felt his absence. In his 10 starts, Bradley averaged 9.6 points, but his on-ball defense is even more missed: With him on the floor, the Lakers have enjoyed a 98.6 defensive rating; with him off, the rating has risen to 104.8, and the Lakers have fallen out of the top defensive spot in the last few weeks.The Lakers have appreciated Kentavious Caldwell-Pope’s contributions since becoming a starter, as he’s averaged 12.3 points while shooting 54.5 percent from 3-point range entering Friday night. But the Lakers will also welcome bringing him off the bench to improve the defense of the second unit when Bradley is cleared to return and resumes starting.“He’s one of our better two-way players,” Vogel said. “He really sets the tone for us on the defensive end. KCP has really picked up the slack and played extremely well in his absence, but when (Avery) moves up, we’ll have him off the bench. So it impacts your depth a little bit, and obviously Avery was giving us scoring punch as well, so we’ve missed him.”last_img read more

Political firestorm erupts in Washington after California wildfires

first_imgWASHINGTON – Raging blazes throughout California are sparking a political firestorm in Washington, where House Republicans are trying to douse a vote on children’s health insurance. Seven California GOP lawmakers are in the state today, touring wildfire damage and working to help evacuated constituents. And they are blasting House Speaker Nancy Pelosi for holding a contentious vote in their absence that would expand the State Children’s Health Insurance Program. “The Democratic leadership is once again showing that they only care about scoring political points,” said Rep. Jerry Lewis, R-Redlands. “They are showing a blatant disregard for the people we are elected to represent and are trying to help.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.Republicans made several attempts this morning to block the bill from going forward, forcing three procedural votes that would have sent lawmakers home for the week. All three attempts failed. In addition to Lewis, six other California Republicans are in their districts today, including Reps. David Dreier, R-Glendora, Elton Gallegly, R-Thousand Oaks and Ken Calvert, R-Riverside. Pelosi and other Democrat leaders argued that the absence of seven Californians will not change the outcome of the vote. They also noted that critical votes were held in the aftermath of Hurricane Katrina even though several lawmakers flew home to address the disaster and were unable to participate. “We all understand how important it is for members to be home with their constituents. But that doesn’t’ mean that we don’t continue with the work of government,” Pelosi said. She contended that California Gov. Arnold Schwarzenegger, who supports expanding the children’s health insurance program, personally urged her to go forward. In a phone call about the fires, she said, Schwarzenegger asked her “How are we doing on SCHIP?” last_img read more