The authorisation sees the London CIV recognised as an alternative investment fund manager (AIFM), in line with the European Directive by the same name.Assets are held within an Authorised Contractual Scheme, the UK’s tax-transparent fund.Grover said a large part of the £6bn expected to be in London CIV sub-funds by the end of the financial year would be passively managed equities, overseen by Legal & General Investment Management (LGIM) and BlackRock.LGIM and BlackRock will each manage three sub-funds, he said.Baillie Gifford will be in charge of a second actively managed global equity sub-fund, as well as a standalone diversified growth fund.Grover added that the London CIV now employed six people and would hire a seventh soon.The new staff includes Julian Pendock as investment oversight director, and Brian Lee as COO.Pendock joins from the London council of Brent, where he was the council fund’s investment and pensions manager, a role he assumed after five years at Senhouse Capital, latterly as its CIO.He has also worked at JP Morgan Chase and Bedlam Asset Management.Bob Kerslake, former permanent secretary at the Department for Communities and Local Government (DCLG), will chair the London CIV’s board.Kerslake retired from the DCLG in February this year and, until September 2014, was head of the UK’s civil service.Prior to that, he was chief executive of Sheffield City Council, and chief executive of the Homes & Communities Agency, the public body in charge of affordable housing in England.Chris Bilsland and Eric MacKay have also joined the board, appointed as non-executive directors.Until 2013, Bisland was chamberlain of the City of London, the council’s financial director.MacKay is currently head of legal, risk and compliance at asset manager TT International, and was previously F&C’s chief risk officer. The London collective investment vehicle (CIV) for the capital’s local authority funds has named its first four managers, to be in charge of £6bn (€8.5bn) in equity mandates.Allianz Global Investors will be in charge of the first sub-fund to be launched by the London CIV.The active global equity fund has attracted more than £500m from three of the participating local government pension schemes, chief executive Hugh Grover said.Grover added that a further eight sub-funds were expected to be launched by the end of the financial year, possible after the Financial Conduct Authority (FCA) authorised the vehicle.
Irish company Ocean Energy is making progress on the construction of its OE Buoy wave energy device that will, in addition to utility electricity supply, also be offered for use in the alternative marine energy markets.The 38-meter long OE Buoy, with a potential rated capacity of up to 1.25MW in electrical power production, is taking shape in an Oregon shipyard, where shipbuilder Vigor is doing the construction works.Once completed in spring 2019, the OE Buoy will be towed to the US Navy Wave Energy Test Site on the coast of O’ahu, in Hawaii, for testing purposes.According to Ocean Energy, the OE Buoy will be suitable for use for range of non-traditional applications for wave energy devices, like providing power and cooling to marine-based data centers.Also, the OE Buoy could find its purpose powering offshore fish farms, desalination plants, naval Underwater Autonomous Vehicle (AUV) power platforms, as well as supplying clean electricity for off-grid communities in remote islands.John McCarthy, Chief Executive Officer of Ocean Energy, said: “In the energy-hungry and rapidly expanding IoT world, technology companies will be able to benefit from wave power through the development of OE Buoy devices as marine-based data storage and processing centers.“The major players in Big Data are already experimenting with subsea data centers to take advantage of the energy savings by cooling these systems in the sea. OE Buoy now presents them with the potential double-benefit of ocean cooling and ocean energy in the one device.”Each deployed commercial-scale OE Buoy device could reduce CO2 emissions by over 3,600 tons annually, which for a utility-scale wave farm of 100MW could amount to over 180,000 tons of CO2 in a full year, Ocean Energy said.Emerging industries such as offshore aquaculture could also benefit from wave energy as they require power at remote marine locations. Additionally, with safe drinking water shortages plaguing cities around the world, wave energy could potentially provide a highly cost-effective solution to desalination, Ocean Energy noted.The private sector project is supported by the Unites States and Irish governments and their agencies as part of an agreement committing both governments to collaborating on marine hydrokinetic technologies.
John Burrow Jr. has the IMCA Modified point lead heading into championship weekend for the BST CAT Tour. (Photo by Terry Gardner)By Suzan McCoyCALHAN, Colo. – While rain has been a challenge throughout the season, IMCA race teams in five divisions will challenge for BST CAT championships this Saturday, Aug. 12 at El Paso County Raceway in Calhan.The BST CAT Tour features IMCA Modifieds, IMCA Sunoco Stock Cars, Karl Chevrolet Northern SportMods, IMCA Sunoco Hobby Stocks and Mach-1 Sport Compacts. This tour has traveled to four different dirt tracks located in Colorado, Phillips County Raceway in Holyoke, I-76 Speedway in Fort Morgan, and Lamar Speedway in Lamar in addition to El Paso County.The leader in the Modified standings is John Burrow Jr. with 247 points, but Greg Sharpe is right behind with 243. A.J. Valim was 10 points ahead of Burrow and Sharpe before the July 3 race at I-76 Speedway; unfortunately he wrecked in his heat race and went to the “B” main.Joe Bellm, BST promoter, got behind the wheel this year to become the Stock Car point leader. John Luck, with only a one point difference, is ready to battle it out with Bellm for first place.Northern SportMod CAT Tour Ryan Moser has a 29-point lead over Danny Concelman. Shad Cooper leads in the Hobby Stock division but blew his engine at Phillips County on Aug. 4 which could open the door for Max Quint. Leading in the Sport Compact is Chad Mann with 209 points, but girlfriend Shalanda Smith is only two points behind. You would not know the two are dating while watching them race.With all the divisions being too close to call, we are excited to get to the track and watch these racers compete for the CAT Tour championship.
Submit Polish wagering report highlights STS market dominance August 17, 2020 Share VBET agrees Armenian Premier League and Armenian Cup sponsorship August 13, 2020 Mateusz Juroszek – Non-stop STS will expand amid industry disruptions August 12, 2020 STS has become the first Polish bookmaker to extend its reach across Europe after securing a deal with software developer BetConstruct for both sports betting and gaming content.BetConstruct will provide its sportsbook product – as well as those for esports, live and RNG casino, virtual sports and statistics – to enable STS to expand into the UK, Germany, Norway, Iceland, Luxembourg, Slovenia, Andorra, San Marino, Gibraltar, Malta and Latvia.Mateusz Juroszek, STS CEO, said: “STS is the undisputed leader of the Polish bookmaking market. After the success of the company in the country, it’s time to start operations in Europe. “Our many years of experience gained in the country is a unique know-how that will allow us to gain a wide range of new customers, so our goal is to take advantage of the significant competitive edge given by BetConstruct solutions.”Vigen Badalyan, Founder and CEO of BetConstruct, commented: “STS is the first Polish bookmaker to expand its gaming audience to the European region. For the company to conquer the new markets, we guarantee full compliance with the regulated markets and an excellent performance of our comprehensive solutions.”Thanks to numerous investments in the development of the betting offer, modern technologies and new functionalities for its users, STS has increased revenues more than tenfold over the last six years – from PLN 220 million to PLN 2.41 billion. Currently, STS has over 47% share in the Polish bookmaking market, with 80% of turnover generated online, through applications dedicated to Android and iOS, a website and mobile version.Juroszek added: “In the first stage of our presence abroad, we want to focus on 2 million Poles who are abroad. Our brand awareness among these people is extremely high, so our goal is to take advantage of this significant competitive advantage.” Related Articles Share StumbleUpon