Brexit fuelling rapid increase in cross-border strategies, survey finds

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first_imgState Street said this reflected concerns about post-Brexit divergence between European and UK approaches to capital markets and investment regulation.This was linked to a growth in managers planning to use the UK as a domicile in the future, with 51% planning to target the UK as a future domicile of choice for product distribution, a 9% increase from today. The imminent prospect of the UK’s exit from the European Union is fuelling a new dynamism in the development of asset managers’ cross-border strategies, according to research from State Street.The survey found that over half (54%) of managers surveyed were reshaping their distribution strategy and expected to increase their staffing levels in new locations in response to Brexit within the next five years. Furthermore, 64% planned to launch cross-border products over the same period.The State Street 2018 Fund Strategy Survey covered 250 asset managers globally, analysing how they were developing cross-border strategies, including factors influencing their choice of fund vehicle, passport and domicile location.With the end-result of Brexit negotiations still unclear, almost half (46%) of respondents believed there would be an increased fragmentation of fund regulations in Europe over the next five years. (L-R) Dominic Raab, UK minister for exiting the EU, and Michel Barnier, the EU’s chief negotiator, at a press conference last month“The data shows managers realise that, whatever barriers to trade and international cooperation may grow out of ongoing geopolitical dynamics, maintaining access to global markets and investors around the world remains essential to their business models, as well as to the institutions and individuals who rely on them for their savings and investments,” said David Suetens, head of State Street in Luxembourg.Akbar Sheriff, head of State Street Global Services in the UK, added: “We have seen an increasing number of EU 27 and internationally-based asset manager clients making enquiries about UK fund launches, and we are supporting them accordingly with their planning and due diligence.”The survey’s findings appeared to show that, in spite of recent announcements by a number of fund managers planning to move assets out of the UK, asset flows would not be one-way traffic.Columbia Threadneedle Investments and M&G have both moved assets run for some non-UK investors in their UK-based funds to Luxembourg, while MFS is planning an investment hub in the Grand Duchy. Legal & General Investment Management has already set up an investment hub in Dublin. Meanwhile, the City of London Corporation has estimated that between 5,000 and 13,000 jobs could be lost in the UK financial services sector by the time the country leaves the EU on 29 March 2019. The corporation was using its latest internal tracking data.Its previous estimates had been as high as 75,000 job losses, based on an Oliver Wyman study of 2016.last_img read more

Emerita blooms at Fairyhouse

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first_img Only fifth on her debut last month, she looked a different proposition on this occasion and it was obvious from a long way out that she was travelling better than the favourite Tap Dancing, who yet again had to settle for second. Emerita was a well-backed 2-1 chance and was heavily eased down by Pat Smullen on crossing the line. Dermot Weld’s Emerita looks a name to remember after cruising to victory in the Irish Stallion Farms EBF Fillies Maiden. Weld said: “She’s crying out for a mile and a half. You won’t see her a lot this year as she’s a lovely big filly for next year.” center_img Press Associationlast_img read more

Jake Butt says he was tempted to quit during latest comeback

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first_imgJake Butt says he was tempted to quit during latest comeback “I’m really happy I stuck with it because I do feel really, really good out there,” Butt added. “I feel like I can still play in this league and I can contribute, I can even get much better than I am right now. So, I think that’s a lesson that I’ve definitely learned through this that everybody can learn is that bad days are going to come, tough days are going to come, but you can’t quit, you’ve just got to keep showing up.”Notes: Four players were absent from practice Wednesday, including Fant, who was sick. Fangio made a point of saying, “not COVID sick, but normal sick, that’s what he’s got.” … Also out were OLB Bradley Chubb (rest), CB Davonte Harris (bruised knee) and Vannett (concussion).___Follow Arnie Melendrez Stapleton on Twitter: http://twitter.com/arniestapleton___ In 2018, he played in three games before suffering a third torn ACL, and last year his comeback was interrupted by yet another operation to clean out a torn meniscus. He hoped to return for the final month in 2019 but Lock got the activation nod instead after recovering from a thumb injury.Butt has spent more of his pro career in the training room than he has on the football field. “You’re still part of the team but you also feel miles away,” Butt said. “I would say honestly that’s probably the hardest part about rehab is it can get a little bit lonely and that’s where you start to build yourself up mentally. And throughout all three of my ACLs I think I’ve come out of the rehab more mentally tough than I was going into it.”Yet, Butt acknowledged there were some dark days during his latest comeback that made him seriously contemplate walking away from football.“There were a lot of days I really wanted to quit,” Butt said. “There was a lot of days I was really down on myself, questioning myself, questioning why I’m even doing this kind of thing? And for me it’s my support group, my teammates, my friends and maybe just a little bit of craziness that I’ve had implanted from my parents and my family growing up that you can’t quit and just show up tomorrow. Share This StoryFacebookTwitteremailPrintLinkedinRedditENGLEWOOD, Colo. (AP) — Jake Butt is equal parts unfortunate and unflappable.In three seasons with the Denver Broncos, the star-crossed tight end from Michigan has played in as many games (three) as he’s had major knee surgeries, each of which required a clean-up procedure.So, that’s six operations to go with his eight career catches for 85 yards. Associated Press center_img August 19, 2020 Yet, in a talented tight end corps that features 2019 first-rounder Noah Fant, rookie Albert Okwuegbunam, free agent Nick Vannett and veterans Troy Fumagalli and Andrew Beck, it’s Butt who’s been turning heads at training camp so far.Just months after contemplating walking away from football, Butt has drawn high praise from his head coach and his quarterback this week with Drew Lock declaring, “There’s nobody in our locker room that doesn’t want to see Jake Butt succeed.”Butt appreciates the sentiment but wants to put his health issues behind him.“Man, it means a lot quite honestly,” Butt said Wednesday after another spectacular practice. “Guys have seen what I’ve been through and if you’ve been through an ACL you know how hard one is. When you go through three, it means a lot to get that recognition from your comrades, your teachers, your coaches. But for me, I’m healthy. It’s part of my story but I’m out there, I’m out there playing ball, I’m not looking back. I don’t have any excuses.”Butt first tore an ACL during spring drills his sophomore season at Michigan and he tore the other one in his final game for the Wolverines, in the Orange Bowl. The Broncos drafted him three months later but he spent his rookie year on IR. More AP NFL: https://apnews.com/NFL and https://twitter.com/AP_NFLlast_img read more

Sweet Revenge!  Halep Beats Sharapova To Secure China Open Last Eight Slot

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first_imgRomanian tennis star Simona Halep is through to the last eight at the ongoing China Open after she defeated controversial Russian player Maria Sharapova.The world number two saw off former world number one Maria Sharapova 6-2 6-2 in 72 minutes to secure her second China Open quarter-final.Sharapova had earlier beaten Halep at the US Open in August but an untidy display that included 39 unforced errors in Beijing made sure she ended up on the losing side.Sharapova, 30, who returned to the court competitively in April after a 15-month doping ban, was competing at the tournament for the first since she won the title in 2014.The reward for her revenge over Sharapova is a clash with either Polish world number 11 and defending champion Agnieszka Radwanska or Russian Daria Kasatkina for a place in the last four.RelatedAustralian Open Recap (Women): Halep Wins Epic Third Round Match As Kerber Beat Sharapova To Secure Last 16 SpotJanuary 20, 2018In “Sports”Australian Open Day 4 Recap (Women): Top Seed Halep, Sharapova Book Last 32 SpotsJanuary 19, 2018In “Sports”Australian Open Recap (Women): Top Seed Halep, Sharapova Into Second RoundJanuary 16, 2018In “Sports”last_img read more

Jusuf Nurkic made a Proposal for Continuation of the NBA Season

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first_imgLike the rest of the world, Jusuf Nurkic expects a solution to the health crisis caused by the coronavirus pandemic. The best basketball player in Bosnia and Herzegovina wants to get back to the NBA floor as soon as possible.But the world has not yet found a viable cure for the virus, and Nurkic, who resides in Portland and individually trains in anticipation of a decision to pursue the strongest league in the world, had an interesting suggestion that few now think about, Avaz news portal reports.According to US media, the Portland Trail Blazers Center is looking out into space to solve problems here on Earth and continue competing in the American NBA League.Specifically, the 25-year-old from Zivinice asked for help from – NASA (U.S. Aeronautical and Space Research and Development Agency) via Twitter!“I’m just wondering if NASA can help us get organized to pursue the NBA somewhere in space? Mars? Jupiter?”Nurkic wrote.last_img read more

Farmers’ Almanac calling for snowy cold Midwest winter

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first_imgDES MOINES — The new edition of the Farmers’ Almanac predicts a freezing, frosty winter is ahead for Iowa and the rest of the Midwest.Sandi Duncan, the publication’s managing editor, says they’re calling for above normal snowfall and below normal temperatures.Duncan says, “We’re calling this winter a ‘polarcoaster’ winter because we think there’s going to be quite a few thrills and chills up and down the thermometer this winter.”The Almanac is forecasting what it calls a “memorable” storm that will produce “hefty snows” for the region between January 20th and 23rd, followed by bitter cold as low as 40-below zero. “We’re looking at the coldest outbreak of the season to be at the end of January and the beginning of February,” Duncan says. “Overall, in your region we’re calling for a frigid and snowy winter.”This past spring was lousy for many farmers in the region, with prolonged cold, wet weather and widespread flooding. The Almanac is predicting essentially a repeat for next spring. “We do see a very slow start to spring once again with chilly, wet conditions hanging on into April,” Duncan says. “The good news is, we also have a summer forecast, and we see scorching temperatures with not the greatest but near-normal precipitation. Hopefully, things will even out a little bit as summer continues to take hold in 2020.”Meteorologists at the National Weather Service often put little stock in forecasts more than a few weeks out, but Duncan notes the Farmers’ Almanac has been predicting the weather for longer  than the National Weather Service. The Almanac’s forecasts extend out from six to 16 months and they’re based on a formula established two centuries ago.“It was set on a bunch of rules that we’ve altered slightly but we still consider a lot of the rules that our founding editor in 1818, we still follow them,” Duncan says. “They are rules that talk about sunspot activity, tidal action, the Moon, the position of the planets. They apply them to different weather conditions and they’ve been doing a pretty good job for us.” She says those who follow the publication’s long-range outlooks say they’re 80 to 85% accurate.last_img read more