Diversified fund market to double after spike in DB inflows

first_img“£10 billion flowed from this source in 2013, off a previous estimated base of only £30 billion.”The popularity of DGFs among the DB schemes is set to grow, as inlflows get close to £80bn by 2019, according to SpenceJohnson’s projections. DC schemes are expecetd to be allocating £20bn, up from £6.6bn currently.Much of the increase comes with an implicit requirement for DGFs to provide investors with more alpha, rather than static allocations.“The ‘diversified beta’ portion of a DGF is becoming less valued,” SpenceJohnson said.“This is combined with the emergence of risk factor investing where these sources of beta can be more accurately targeted using smart beta funds.“We believe that there will be an increasing onus in selection on exposure to market returns within DGFs being cost effective.“This will sit alongside DGF managers needing to be more explicit about how they provide alpha.”The current market is dominated by institutional allocations, with a share of 78%, according to estimates that include an educated guess of non-UK allocations coming from pension funds abroad.Dynamic DGFs also dominated the £97bn market, attracting over 60% of assets.Popularity of the dynamic strategy is underpinned by its preference among DB investors who allocate 70% of their own assets to the strategy.Average allocation within DGFs saw equity allocation reach just over 40%, with alternatives creeping over 20%.The data showed fluctuating allocations over the previous years, with the use of equities ranging from over 50% in 2009, to as low as 30% in 2011, before stabalising.Funds had shifted away from alternatives in the last year but placed greater emphasis on cash, with bond allocations also falling.Within the 27 funds analysed, allocations varied dramatically, with equity holdings ranging from well over 60% to as low as 15%.Similarly, the use of cash, and alternatives, also varied depending on the manager, and the targets set by fund.Alternative allocations went as high as 75% in one fund, compared to others that had less than 5% invested in the classes.Within equity portfolios, average allocations to UK equities hit 6% and emerging market equities 4%.The firm also predicted emerging markets would soon account of 15% of DGF allocations.“We believe this to be the case for two reasons. Firstly, the broader trend within UK pensions to diversify away from UK equities. Secondly, the increasingly international investor profile of the DGF market,” the report said.Within alternatives, real estate was still the most common, followed by commodities and absolute return investments. Adoption of diversified growth funds (DGF) by UK defined benefit (DB) schemes was underestimated, after 2013 witnessed £10bn of inflows, new research shows.Data, from market intelligence provider SpenceJohnson, showed the entire DGF market may reach £201bn by the end of 2018, up from £97bn at the end of 2013.It grew £22bn over 2013, with nearly half of all inflows coming from UK DB schemes.“The speed of adoption by DB schemes witnessed in 2013 was much faster and more significant that expected,” the report said.last_img read more

Rakeem Christmas receives 2nd-team All-American honors from USA Today

first_imgSyracuse forward Rakeem Christmas has been named a second-team All-American by USA Today, the site announced Wednesday morning.Christmas received third-team All-American honors from Sporting News on Tuesday, but USA Today sportswriters Nicole Auerbach and Eric Prisbell tabbed Christmas one group higher. The senior led the Orange with 17.5 points per game, 9.1 rebounds per contest and 2.5 blocks per game this season.Christmas was also named to the Atlantic Coast Conference first team by the league’s coaches, as well as receiving honors for the ACC’s most improved player and Co-Defensive Player of the Year from the coaches.He’s joined on the USA Today second team by Utah’s Delon Wright, Kentucky’s Karl-Anthony Towns, Virginia’s Malcolm Brogdon and Wichita State’s Ron Baker.Here’s the entire list of postseason awards handed out by USA Today on Wednesday morning:AdvertisementThis is placeholder textFIRST TEAMC Frank Kaminsky, Wisconsin, Sr.C Jahlil Okafor, Duke, Fr.G Jerian Grant, Notre Dame, Sr.C Willie Cauley-Stein, Kentucky, Jr.G D’Angelo Russell, Ohio State, Fr.SECOND TEAMG Delon Wright, Utah, Sr.F Karl-Anthony Towns, Kentucky, Fr.G Malcolm Brogdon, Virginia, Jr.F Rakeem Christmas, Syracuse, Sr.G Ron Baker, Wichita State, Jr.THIRD TEAMG Kevin Pangos, Gonzaga, Sr.F Seth Tuttle, Northern Iowa, Sr.F Stanley Johnson, Arizona, Fr.F Bobby Portis, Arkansas, Soph.G Buddy Hield, Oklahoma, Jr.Player of the Year: C Frank Kaminsky, Wisconsin, Sr.Freshman of the Year: C Jahlil Okafor, Duke, Fr.Coach of the Year: John Calipari, Kentucky Comments Published on March 11, 2015 at 12:21 pm Contact Matt: [email protected] | @matt_schneidman Facebook Twitter Google+last_img read more

Jim Boeheim discusses Carmelo Anthony’s legacy at post-Olympics press conference

first_img Facebook Twitter Google+ Published on August 23, 2016 at 3:48 pm Contact Matt: [email protected] | @matt_schneidman “You look back on your total basketball experience … he had a great high school team, he won the NCAA championship and he won three gold medals in the Olympics. So that’s a pretty good resume.”AdvertisementThis is placeholder textAnthony turned Denver into a contender even though the Nuggets couldn’t sniff the Lakers and Spurs of the early 2000s. In his five full seasons in New York, the Knicks haven’t advanced past the Eastern Conference semifinals and have struggled in losing seasons each of the past three years.After Sunday’s gold medal game, Anthony got emotional discussing the win over Serbia, even though he’s been in the same spot twice before.“I think it meant a lot to him because he’s had a couple bad years obviously in New York,” Boeheim said. “The reason I wanted him to go was to have a good basketball experience for himself and be the leader of this team.”This year, Team USA didn’t have LeBron James, Steph Curry, Chris Paul or Dwyane Wade. Kevin Durant, Klay Thompson, Kyrie Irving and DeAndre Jordan were the main players alongside Anthony instead.And even through there were some bumps in the road in the form of single-digit wins, the seasoned vet added to a resume that some view as incomplete, but one Boeheim considers just fine.“When we were struggling there, he was a really good voice in the locker room, keep everybody together,” Boeheim said. “Carmelo was the unquestioned leader in this team.” Commentscenter_img Carmelo Anthony is unlikely to win an NBA title with the New York Knicks. Jim Boeheim acknowledged that much. And in today’s culture of defining legacies, a championship seems to be the required element to validate a player’s career.Anthony has won three Olympic gold medals, though, which is more than any player in Team USA history. He also led SU to its only national championship in 2003. When asked about how Anthony will be remembered when all is said and done, Boeheim chose to look at his entire basketball resume and the effect he’s had on his NBA teams rather than what will likely be a professional career without a title.“He’s never been on a team that even had a remote chance of winning an NBA title,” Boeheim said Tuesday afternoon in the Melo Center. “As a player all you can do is try and make your team better and every team he’s been on, he’s made a lot better.last_img read more