7 Tips on Breaking into the Wild World of Whitewater Kayaking

first_imgKayaking is a great way to connect with nature and get some exercise in the process, but it can be intimidating and downright confusing to get started in. Which boat do you need? What gear is essential and what are good brands? Where do you go and how do you learn the necessary skills?1. Join a Club. Almost every major (and smaller) metropolitan area has one if not several kayaking clubs. These give you a chance to meet other paddlers, learn how to roll a kayak in a pool, and try out boats. Once you feel confident to try your new skills on a river, you can join the club for your first outing.Edited-4496_FIX-800x6002. Test Drive Kayaking In An Inflatable Kayak. Several rivers and outfitters rent duckies or inflatable kayaks to use to try out whitewater and see how you like it with a skilled guide to explain hazards, techniques, and keep an eye on you. 3. Sign Up For Private Instruction. Learn everything from how to roll to what boat is best for you at your own pace with private instruction. Most larger rivers have an outfitter that provides private instruction. 4. Take a Clinic. Not a fan of one on one or trying to save a few pennies to buy a boat? Several outfitters also offer clinics ranging from one day to a full week. Enjoy meeting other people new to the sport and trying out a variety of boats.Screen-Shot-2015-10-02-at-6.48.04-PM-e14438262022215. Attend a festival. Several outfitters and organizations host festivals every year. These are great ways to meet people in the sport and find deals on used gear. Some of the bigger ones, like Nantahala Outdoor Center’s GAF and American Whitewater’s Gauley Fest, are large weekend events centered on rivers. 6. Volunteer. Volunteering with a paddle or outdoor focused organization, even if you just stuff envelopes or drive a van of stinky, wet gear, gets you in contact with people in the sport who have a passion for the way it changes lives. 7. And Finally, Facebook. Facebook is full of groups for everything: certain areas, specific sections of river, types of boats, etc. Find a group on Facebook that fits what you’re looking for (i.e.: whitewater canoes, called open boats) and chances are there will be tons of people with advice to help get you started! A bonus tip for starting out: kayaking uses your core muscles more than anything else. If you’re really thinking about picking up the sport this summer, start out with a little yoga that focuses on shoulders and core strength. Having loose, flexible shoulders will also help protect them. Good luck, have fun, and be safe out there!last_img read more

CERN Particle Accelerator Succeeds in Causing Protons to Collide at Unprecedented Energy

first_imgBy Dialogo March 31, 2010 Scientists have achieved, for the first time, the collision of proton beams at an energy of seven TeV (tera-electronvolts) in the large accelerator built by the European Organization for Nuclear Research (CERN), in a key step toward unveiling the mysteries of our universe’s creation. This result, which was obtained after two failed attempts, opens the doors to a new phase of modern physics, since it will make it possible to find answers to numerous questions about the universe and matter, according to CERN scientists. A few minutes after 1 p.m. local time (11 a.m. GMT), the four giant detectors of the Large Hadron Collider (LHC) – ATLAS, ALICE, CMS, and LHCb, located at different points along the accelerator’s twenty-seven-kilometer-long tunnel – began to register the impacts of the particle beams traveling in opposite directions. CERN’s director-general, Rolf Heuer, expressed his great happiness and excitement about what he described as “the beginning of a new era for modern physics,” speaking by videoconference from Japan, where he is currently visiting. “With this experiment, we’re opening a window for obtaining new knowledge of the universe and of the microcosm, although this won’t be immediate,” the director-general indicated. This new experiment’s short- to medium-term objective is, over two years, “to cause the collision of around 2,800 beams in each direction, in order to create millions of impacts, after which there will be a year’s technical downtime,” scientist Michael Barnett explained. Seven TeV is half of the accelerator’s design energy, and only after this long pause, once the entire system has been gone over down to the smallest detail, will the attempt be made to reach fourteen TeV, an energy even closer to that of the creation of the universe.last_img read more

July ’13 Pink Slips: Thomas, Deen, Hernandez, ‘Princesses’ – You’re Fired!

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York [colored_box color=”red”]Clarence ThomasArguably the most conservative jurist—if not the luckiest—on the U.S. Supreme Court, Clarence Thomas was 17 years old when President Lyndon B. Johnson signed the Voting Rights Act into law, one of the most important accomplishments of the Civil Rights era. But when Thomas recently cast his vote in the Court’s 5-4 decision gutting the law, he jabbed “a dagger” in its heart, according to its longtime supporter, Congressman John Lewis (D-Ga.), who actually marched across the Edmund Pettus Bridge in Selma, Alabama, in 1965—and got his skull fractured by state troopers—to gain rights for his fellow citizens that Thomas, also from Georgia, would later take for granted. How did Thomas get into Yale Law School? He’d never admit it—but he got in by the progress made at such a heavy cost by men and women like John Lewis and other courageous people who risked life and limb to overcome our country’s endemic racism. That Thomas would let himself be cynically nominated to fill Justice Thurgood Marshall’s seat by the first President George Bush—and thus become the second African-American to serve on the highest court in the land—without feeling any moral obligation to follow in Marshall’s footsteps is very damning indeed. Thomas climbed up a ladder that the Freedom Riders had risked their lives to erect. That he would deliberately pull that ladder away from future generations of disadvantaged Americans by siding with the conservative majority in this ruling is a cruel joke played on the American people by the country club elite. When the Court is in public session, Thomas is known for not saying a word. But what more can he say—after Anita Hill exposed him for who he really is? His continued presence on the Court, like his silence, is obscene. Paula DeenThe celebrity chef known for her Southern comfort got burned when she admitted in court depositions that she’d let the N-word trickle out of her mouth and cracked anti-Semitic jokes in her restaurant. Now Paula Deen, who really likes to pile on the butter, is smacked dab in the middle of a mud cake without the Food Network to support her and corporate sponsors like Target, Home Depot, Caesars Entertainment, Smithfield Foods and Walmart to pick up the tab. In her defense the 66-year-old busted belle blubbers, “I is what I is.” And her deluded clans of kitchen fans have made her latest batch of cholesterol-challenging recipes, “Paula Deen’s New Testament,” a top seller on Amazon’s book list. If they can swallow her warmed-over, stale racism, served with a plate of humble pie, so be it. But we lost our appetite a long time ago.Aaron HernandezWhen Aaron Hernandez was a tight-end for the New England Patriots, he made life miserable for the New [Jersey] Jets—but nobody accused the football player of killing anything other than the hopes and dreams of Gang Green and their luckless fans. Now Hernandez, 23, stands accused of shooting a friend, Odin Lloyd, to death with a .45-caliber handgun in an industrial park less than a mile from his $1.4-million Massachusetts mansion. Allegedly destroying evidence like smashing his cell phone into pieces, hiring house cleaners to scrub his place after Lloyd’s murder was reported and dismantling his mansion’s security system add up to some blown coverage, let’s say. It’s right that the Pats cut ties to him. The NFL may run on thugs—but they know when to stop at the whistle. How could Bill Belichick have missed those tell-tale “Blood” tattoos on Hernandez’s arms? Maybe he didn’t have his video cameras pointed the right way that day.Don WestThe joke was on George Zimmerman, charged with murdering Trayvon Martin, when his witless defense attorney Don West bombed in the courtroom with a knock-knock joke: “Knock, knock,” West said. “Who’s there? George Zimmerman. George Zimmerman who? Congratulations, you’re on the jury.” We know justice is supposed to be blind, but not dumb. West should have saved his stand-up routine for a comedy club.Rob FordIt’s not often that people think of Toronto mayors as being wild and crazy guys but Rob Ford apparently defies the stereotype. According to Gawker’s John Cook and Toronto newspaper reporters, drug dealers shot a video of the conservative mayor smoking crack cocaine this year. Toronto cops have said that the mayor knew the gangbangers posing in their hoodies with their arms around him in a widely circulated photo that does not show the mayor with a crack pipe in his hand. Canadian cops say that two of the men pictured with Ford were busted in a series of pre-dawn raids targeting guns and gangs in Toronto and Windsor, and one of the men was shot in a gangland execution outside a Toronto night club. Apparently the amateur videographer had made overtures to sell the incriminating footage, showed it to the reporters, but then got cold feet (or upped the ante). Ford says the video exists only in somebody’s fevered hallucination—he’s clean as a whistle. People who’ve seen the footage beg to differ. Gawker has since set up a crowd-sourcing fund to raise the 200 hundred grand the video maker supposedly wants for the crack tape. Perhaps prompted by the attention swirling around the scandal, a young Toronto woman threw a cup of juice at him recently while he was attending an Italian street carnival and got herself arrested. Maybe she was just trying to put out a fire—like the one that comes from a crack pipe, perhaps—and missed. We don’t know. Either way, when people tell Mayor Ford to “put that in your pipe and smoke it,” somebody may want to call the cops.Jodie LaubenbergThose Texas politicians sure do spend an awful lot of time worrying about women’s sexual organs. Sometimes in the heat of the moment they say the darnedest things. While all the recent attention was rightly focused on Texas State Sen. Wendy Davis, who had to take a stand, literally, for almost 12 hours to filibuster a very restrictive anti-abortion bill pushed by Texas Republican lawmakers, we’d like to shine the spotlight on Rep. Jodie Laubenberg, one of the bill’s sponsors in the Texas House. The measure imposes an unconstitutional ban on abortions after 20 weeks of pregnancy and effectively closes 37 of Texas’ 42 Planned Parenthood clinics, leaving hundreds of thousands of women without recourse. In denying an amendment that would have exempted victims of rape and incest, Laubenberg made the amazing observation that emergency rooms have rape kits so “that the woman can get cleaned out.” Wrong. Those kits are only good for collecting evidence, not terminating a pregnancy. Nobody accused Laubenberg of knowing science, but you’d think she’d know more about what women in the Lone Star State have to endure before she blithely puts them through it. Barry AccortiAn animal control officer in North Ridgeville, Ohio, Barry Accorti got the call from a homeowner concerned about a litter of newborn kittens in a woodpile behind her house. So, while the woman’s children were watching from their windows upstairs, Accorti shot the 8- to10-week-old kittens to death. “Mommy, he’s killing the kittens!” they started screaming, according to Teresa Landon, Ohio SPCA executive director, who demanded that Accorti be shit-canned. His chief, who must hate cats as much as he apparently does, stood by the kitten-killer and decided his “actions were appropriate.” They weren’t.Amanda Bertoncini, Ashlee White, Casey Cohen, Chanel Omari, Erica Gimbel & Joey LaurenCable commoners know these damsels by their royal name: “Princesses: Long Island.” They squabble, they babble, they shop ’til they drop, and then they scream for more, more, more! This bevy of rich girls behaving badly may be good for Bravo’s ratings, but they sure are terrible for Long Island’s bruised and battered image. We can imagine what the network had in mind, but what were these young women thinking? Apparently, nothing more challenging than whether nail polish is a reflection of inner beauty or whether lip gloss and breath freshener should really be combined. These “reality” females have dissed Freeport, kvetched about Super Storm Sandy’s “disgusting” debris and otherwise managed to insult New Yorkers by embodying the worst of the Jewish stereotypes. But their biggest offense? Boredom. Surely they can all do better than this. These pampered “Princesses” give “privilege” a bad name. Charles SaatchiHe’s the brutish art tycoon hubby of the voluptuous TV celebrity chef Nigella Lawson. Whatever they do behind closed doors is their business. But when the estranged couple had lunch at London’s ritzy Scott’s restaurant last month, things got out of hand, literally. Saatchi, a 70-year-old advertising mogul who owns art galleries in New York and London, was at a sidewalk table with his 51-year-old wife when the millionaire grabbed her throat and made her wince. The tabloids ran the pictures of her leaving the restaurant in tears. Saatchi called his throat-clutching gesture “a playful tiff.” She didn’t file charges—she just moved out on him. Good for her. She can leave the joking choker behind.Shannon RichardsonShe’s the Texas actress nobody had heard of until she told the FBI that her estranged husband, Nathan, had sent ricin-laced letters to President Barack Obama, Mayor Michael Bloomberg and Mark Glaze, the director of Bloomberg’s anti-gun initiative, Mayors Against Illegal Guns. Besides the poison-penmanship, threatening correspondence also targeted Eastern District of Texas U.S. Attorney John M. Bales and FBI Special Agent in Charge Diego Rodriguez. But talk about “return to sender!” Federal authorities arrested the 35-year-old actress—and pregnant mother of five—and charged her with setting up her husband, a 33-year-old Army veteran, whom she wed in 2011. Now she faces up to 10 years in federal prison. That’s probably not the outcome the former beauty pageant winner who appeared in “The Walking Dead” and “the Vampire Diaries” had in mind when she allegedly came up with this plot. It would have been better if her part had been cut. [/colored_box]last_img read more

Suffolk Cops Investigate Severed Arm Found in Hempstead

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A severed arm was found on a side street near downtown Hempstead, 22 miles from where a partially dismembered woman’s body was found in Bay Shore a day earlier, police said.Hempstead village police confirmed that a 911 caller reported discovering the arm outside of their Webb Avenue home near the corner of Washington Street shortly after 2 p.m. Wednesday.“The body part was removed to the Nassau County Medical Examiner’s office for further examination,” Suffolk County police, who crossed into Nassau to join the investigation, said in a statement.It is unclear if the arm is from the unidentified dead woman’s dismembered body that was found in a vacant lot on the corner of Maple Avenue and Gibson Street by two people walking to the Fire Island ferry terminal on Tuesday morning. Suffolk medical examiners are conducting an autopsy to determine the woman’s identity and cause of death.Suffolk police said their homicide squad detectives responded to the scene in Hempstead along with their Nassau County police counterparts. Nassau police declined to comment.After the first discovery, Suffolk police said in a statement that they dispatched K-9 units to search the Gilgo Beach area “in the interest of being thorough.” But, they said that “there are no known links between the partially dismembered body found in Bay Shore … and the Gilgo Beach murders.”A total of 11 sets of human remains were found in a year between Jones and Oak beaches after police uncovered the bodies of the first four, who investigators have said they believe to be the victims of a serial killer, in December 2010. Only half of the remains have been identified and no suspects have been named.Homicide Squad detectives are continuing the investigations. Suffolk police ask anyone with information on the Bay Shore or Gilgo cases to call them at 631-852-6392 or Crime Stoppers at 1-800-220-TIPS. All calls will be kept confidential.last_img read more

Bruno Fernandes: Cristiano Ronaldo and Paul Scholes huge influences for Man Utd midfielder | Football News

first_img Journalist and editor of ‘United We Stand’, Andy Mitten says concerns over Manchester United’s form have not vanished but Ole Gunnar Solskjaer retains considerable support from the fans Paul Scholes Greatest goals Bruno Fernandes scored twice in a crucial 3-1 win at Everton before the international breakImage:Bruno Fernandes scored twice in a crucial 3-1 win at Everton before the international break “We had eaten, but we just stayed there to watch all of the goals of his. It was funny because I was talking to Fred, and I said to him, ‘You see what Paul Scholes is doing, you need to be more closer to the goal, because if not, you will never score!’ And then Fred, in that game, he scored twice! Manchester United midfielder Bruno Fernandes says a number of players have had a significant influence on him, but perhaps none more so than Paul Scholes and Cristiano Ronaldo.Fernandes has had a huge impact on Ole Gunnar Solskjaer’s midfield since his arrival in January, scoring 13 goals and supplying 10 assists in 21 Premier League appearances so far.- Advertisement – 3:12 “I appreciate Scholes a lot but maybe because, at that time for me in Portugal, when Scholes was playing at his best level, it was difficult for us to see English football, maybe it was because Spanish football was closer so it was more on the television, and we grew up with those names.“I think Scholes was one of the best midfielders in the world. For England, a lot of people talk about Frank Lampard because he scored a lot of goals of course, one of the best in England too, you have Steven Gerrard too, but I think Scholes is the one who makes more difference than anyone else.“And before everyone starts talking about this, I haven’t seen every midfielder in England, ok?! But I think in the last generation, those three were the three best ones, and for me Scholes was best.” – Advertisement – The Portugal international insists creating chances for his team-mates is equally as important to him as scoring goals, and says that his style of play could be compared to that of United club legend Scholes.Reflecting on midfielders he watched growing up, Fernandes told The Official Manchester United Podcast: “Maybe I’m more closer to Paul Scholes. Scholes was a guy who likes to be in the box, who likes to give an assist, who likes to score a lot of goals. – Advertisement – FREE TO WATCH: Highlights from Manchester United’s win over Everton in the Premier League 1:41 “It’s funny, I remember when we were about to play Club Brugge [at home] last season, and I was in the dining room with Fred, and on the television they were playing all Paul Scholes’ goals in a Manchester United shirt [on MUTV].- Advertisement – ‘Everyone knows Ronaldo was my favourite player’Ronaldo has also played an important role in Fernandes’ development, both when he was a young boy and in recent times, as Fernandes previously said that the former Manchester United star always asks him about how he is getting on at Old Trafford.Fernandes admits that Ronaldo’s mentality and work ethic were major sources of inspiration for him growing up and says the Juventus forward’s role in the Portugal side that reached the Euro 2004 final is a key memory for him. Watch a selection of Paul Scholes’ best strikes for Manchester United in the Premier League, including his magnificent volleys against Bradford and Aston Villa EVERTON 1-3 MANCHESTER UNITED Ole Gunnar Solskjaer hit out at his side's schedule after a pressure-easing win over Everton He said: “Everyone knows Cristiano was my favourite player. I think it was a little bit of everything. When Cristiano began to take his first steps in the national team, it was in the Euros in our home country, so I was nine years old.“That year stays with everyone because we lost the final in Portugal, we saw him crying after the final, he was a young boy who was starting to shine and from there I started to watch him.“It wasn’t because he plays in my position because that wasn’t the case, but it was the way he worked every day, the mentality he had, the capacity he had to give 100 per cent in every game at a high level, for me it was like a motivation, like you always have to do better. 4:58 Fernandes says Ronaldo's winning mentality is part of the reason for his phenomenal success.Image:Fernandes says Ronaldo’s winning mentality is part of the reason for his phenomenal success “He was scoring goals every game, but game after game he was still trying to improve, get better. My mentality comes a little bit from understanding what sort of player you want to be.“Do you want to be that player who has a good season, and maybe goes up and down, up and down, or do you want to be the player who always wants to be at the top? Ok, you will have bad games for sure, everyone has – Cristiano has had bad games, 100 per cent – but the point is, coming back from a bad game.“Coming back with the mentality that is, ok I didn’t play well in that last game and I really need to do well in this one. The mentality to do better day after day is really important for me. I’m improving a lot because of this, and that was my biggest motivation.”last_img read more

The tipping point

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

‘It’s only a model’: Health Ministry dismisses Harvard study on potential coronavirus spread in Indonesia

first_img“Basically, the study is only a mathematical model to predict the spread of the virus with independent variables based on the volume of international travelers,” he told journalists on Monday.Read also: Indonesia should have confirmed coronavirus cases by now: StudyHe added that, to date, there were not any patients who tested positive for the coronavirus, based on the results of examinations in his office’s laboratory. The ministry has examined 59 out of 62 specimens from people suspected of being infected with 2019-nCoV. All 59 specimens have tested negative.“We have examined them properly. It [the study] is only a prediction,” Siswanto said. “We should instead be grateful as we have no cases despite the prediction of at least six confirmed cases.” The ministry’s disease control and environmental health director general, Anung Sugihantono, said the ministry had received 62 specimens from 28 hospitals in 16 provinces. Three of the specimens were still under examination.The Harvard study stated that Indonesia’s zero confirmed cases “may suggest the potential for undetected cases in these locations given the expected connection before travel control measures were implemented”. With an average daily number of passengers of about 100 people, the model showed that Indonesia should have confirmed one to 10 cases of the novel coronavirus infection.Researchers also found that Cambodia and Thailand had confirmed cases lower than the model predicted.An epidemiologist with the Harvard T.H. Chan School of Public Health, Marc Lipsitch, said in the study – posted on the pre-print server medRxiv – that the virus had likely reached Indonesia. “Undetected cases in any country will potentially seed epidemics in those countries.”As of Tuesday, a total of 1,011 people had died from the disease and more than 42,000 others had tested positive for the virus across the globe, as reported by AFP. (syk)Topics : The Health Ministry has dismissed a study conducted by researchers from Harvard University that found the country should have already confirmed cases of the novel coronavirus.A study by researchers at the Harvard T.H. Chan School of Public Health suggested that Indonesia should have confirmed cases of the viral outbreak already, considering the high air-travel volume from Wuhan, the epicenter of the outbreak in China, to the country.The ministry’s research and development agency head Siswanto said the study was based only on mathematical calculations to predict the spread of the novel coronavirus.last_img read more

Arsenal squad growing concerned by Unai Emery’s tactics after defeat to Liverpool

first_imgArsenal squad growing concerned by Unai Emery’s tactics after defeat to Liverpool Emery is in his second season at Arsenal (Picture: Getty)Arsenal players are growing increasingly concerned about Unai Emery’s tactics, according to reports.The Gunners have already played Tottenham and Liverpool this season, drawing at home to their local rivals and losing 3-1 to the Reds at Anfield.The Mirror claim the tactics used in the defeat to Liverpool in August caused concern in the Arsenal dressing room.Trent Alexander-Anrold and Andy Robertson enjoyed an excellent game against Arsenal, finding plenty of space on the wings thanks to Emery’s narrow formation.ADVERTISEMENT Emery is struggling to get his point across to his players (Picture: Getty)Arsenal will be tested at Anfield again in October after drawing Liverpool in the fourth round of the Carabao Cup.Liverpool booked their spot in the next round with a 2-0 win over MK Dons, while Emery’s side produced a 5-0 rout of Nottingham Forest in their game.MORE: Rob Holding reveals Unai Emery asked Arsenal’s players to vote for their captain this season Arsenal stars were concerned with Robertson free reign during the loss (Picture: Getty)Arsenal players are worried about the fact Emery failed to see the danger of Liverpool’s full-backs or move to address it during the game.AdvertisementAdvertisementAmid concerns about Emery’s tactics, the Arsenal squad are struggling to understand what their coach wants from them on the pitch due to his command of the English language.Emery’s English and attempts to get his point across to his squad has even turned into a running joke among the players. Advertisement Comment Unai Emery on Arsenal’s 5-0 win against Nottingham ForestTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 10:34FullscreenUnai Emery on Arsenal’s 5-0 win against Nottingham Foresthttps://metro.co.uk/video/unai-emery-arsenals-5-0-win-against-nottingham-forest-2013038/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City Metro Sport ReporterThursday 26 Sep 2019 4:27 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link685Shares Advertisementlast_img read more

Pension fund payments to active managers up 70% in six years

first_imgPension schemes are paying their active investment managers up to 70% more than six years ago even though average fee rates have dropped for most asset classes, according to consultancy LCP.For an active global equity mandate that had matched the return of the global equity index, an investor could be paying up to 70% more in fees than they had been in 2011, LCP reported in its latest Investment Management Fee Survey.It said this highlighted how active managers were rewarded for simply retaining assets, and not necessarily making above-benchmark returns.The report’s author, Matt Gibson, partner and head of investment research at LCP, said: “Investment managers have done very well out of increases in assets under management over recent years.” But these increases had mostly been driven by general rises in equity and bond markets, he added.“Whilst we welcome the reduction in fee rates in many asset classes, overall, investment managers are charging much more but don’t seem to be doing more,” Gibson said.The findings of the report – which examined total costs for a hypothetical £50m (€59m) investment across the most popular asset classes used by LCP clients – showed it was important for schemes to monitor their investment managers regularly and put negotiating pressure on them to reduce fees, Gibson said.Of the asset classes covered by the report, the highest average costs were for UK property at £590,000 (roughly 1.18%), while passive UK equity was the cheapest at £38,000 (roughly 0.08%).Certain hedge fund strategies had even higher charges, the consultancy said.The survey separately found benefits for defined contribution schemes using platforms instead of accessing funds directly. LCP said a £10m allocation to a passive global equity fund would be £5,500 cheaper via a platform.LCP’s survey also reported a lack of consistent and transparent reporting on transaction costs. This echoed recent work from the Financial Conduct Authority, the UK regulator, which criticised fund managers for weak pricing and a lack of transparency. The asset management trade body, the Investment Association, is currently consulting on a new fee disclosure code.While some managers only gave data on explicit trading costs, such as broker’s commission and stamp duty, others tried to quantify implicit costs such as dealing spreads and the impact of the fund’s transactions on the market price of a security, the consultancy said.last_img read more

Belgium’s KBC to launch multi-employer pension fund

first_imgKBC emphasised that companies placing their pension fund with KBC Pension Fund Service could keep on playing an active role in the fund and the strategic choices that had to be made.KBC and EBCS would carry out all administration, governance and legal obligations, with KBC Asset Management managing company schemes’ assets, it added. The multi-employer pension fund is to be launched as of 1 January 2020.KBC Insurance has been active on the market for second pillar pensions for decades, offering both collective and individual pension insurance as well as pension insurance for self-employed workers.Hans Verstraete, senior general manager of KBC Insurance and chairman of the KBC Pension Fund Service board of directors, said the multi-employer pension fund completed its range of supplementary pension schemes, and that there had been an “enthusiastic response” from a number of companies. EBCS said it delivered services to more than 25 pension funds in Belgium.KBC was unable to respond to questions from IPE by the time of publication. Belgian insurer KBC has announced it is launching a multi-employer pension fund, aimed at smaller companies that want to outsource their pension obligations.The new fund – KBC Pension Fund Service – would be run in co-operation with Belgian firm Employee Benefit Consulting Services (EBCS), it said.It said that for its new service it would draw on the ample knowledge and experience it had accrued while running its own company pension fund – established in 1942, and one of the largest in Belgium – as well as experience advising its own staff.EBCS’s contribution would focus on information communication technology, actuarial, accounting and payrolling services to pension funds.last_img read more