Arsenal legend Lauren rips into ‘irrelevant’ Mesut Ozil and reacts to Aaron Ramsey move

first_imgArsenal legend Lauren has issued a warning to Mesut Ozil (Picture: Getty)Mesut Ozil was ‘irrelevant’ in Arsenal’s crunch matches last season and must start fulfilling his potential to save his career at the Emirates.That is the opinion of Arsenal ‘Invincible’ Lauren, who believes there was ‘something very wrong’ with the way Ozil played under Unai Emery last term.Ozil signed a new three-year deal with the Gunners at the start of last year but was not always guaranteed a place in Arsenal’s starting line-up during the 2018-19 campaign.The German playmaker has been heavily linked with a summer departure and, while Lauren says he will stay put, the Arsenal hero insists he needs to offer more to the team.AdvertisementAdvertisementADVERTISEMENTMore: 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‘Mesut Ozil will stay at Arsenal next season but he needs to start fulfilling his potential,’ Lauren told bwin.‘Whether you are Arsenal, Real Madrid or Barcelona, you need your best players to perform on the big stage and Ozil failed to do that on multiple occasions last year.‘In the biggest games last season, the quarter-final, semi-final and final of the Europa League, Ozil was not relevant, so there is something very wrong there.‘Mesut Ozil has a lot of potential and no doubt, Emery will be working to bring that to the forefront this season.’ Comment Advertisement Metro Sport ReporterFriday 21 Jun 2019 5:00 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link261Shares Lauren also discussed Aaron Ramsey’s departure (Picture: Getty)center_img Ramsey left the Gunners to join Juventus (Picture: Getty)Arsenal, who finished fifth in the Premier League last term, will be without Aaron Ramsey next season after the Welsh midfielder joined Juventus.Lauren says Ramsey is a ‘brilliant player’ who will be sorely missed at the Emirates.‘Losing Aaron Ramsey to Juventus is a big loss for Arsenal,’ he said. ‘Unai and his backroom team will need to use this transfer window to make a big signing to replace him.‘Throughout his time at the club, and even when he had announced he was leaving the club, Ramsey was a brilliant player who always played to his best ability.‘The gap he has left in the club will be felt unless the club bring in someone to replace him quickly.’More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves Arsenal legend Lauren rips into ‘irrelevant’ Mesut Ozil and reacts to Aaron Ramsey move Advertisementlast_img read more

ATP shortens return guarantees to 15 years to win investment flexibility

first_imgDanish statutory pension fund ATP is shortening the length of its return guarantees on pension contributions to 15 years from the lifelong guaranteed returns it pays now, to increase its investment flexibility and therefore the potential pensions it pays out. The pension fund, which manages the labour-market supplementary pension – first-pillar provision that runs alongside the basic state pension – said its supervisory board decided the guaranteed return on contributions would now be set for 15 years at a time, starting January 2015. ATP’s chief executive Carsten Stendevad said: “The purpose of the current adjustment is to better safeguard the purchasing power of pensions, while taking the lower liquidity in the financial markets into account.”While current guarantees set a return for as long as 80 years, under the new system, each year’s contribution will be guaranteed a certain return for 15 years, based on prevailing interest rates.  When this 15-year period comes to an end, that year’s contribution will be guaranteed a return for another 15 years, again set at the latest market interest rate, and so on until retirement.ATP said this meant that, from the scheme member’s point of view, the guarantee will only increase, and never decrease.This is because the initial 15-year guarantee assumes a zero rate of return following that 15-year period, whereas in reality that portion of the pension will then grow at the rate set under a subsequent guarantee. Under this new method, ATP members technically have a very low level of guaranteed lifelong pension income at the beginning, but are given a prognosis of the amount their eventual pension is expected to be as a result of subsequent 15-year return guarantees. By promising scheme members a rate of return on their contributions that is only fixed for 15 years at a time, ATP reasons it will be able to get higher returns with lower costs because it will have a wider variety of financial instruments to choose from to hedge those promises than is the case now.This is because liquidity at the long-end of the yield curve is much lower than it is around the 15-year mark. “Giving a guarantee for 80 years forces us to the longest end of the curve where liquidity has been falling,” Stendevad said.“Here, it gets us to the point of the curve where it’s more liquid.”Apart from this, interest-rate derivatives – used for hedging – have become more expensive at longer maturities of 40 years, for example, and are expected to become still more costly in the future, according to ATP.Stendevad said the most important aspect of the change was that it helped scheme members because it was more reflective of the actual level of interest rates over the years, while for ATP as an investor, the move provided more investment flexibility.Ultimately, ATP took the step to decrease the interest-rate sensitivity for young members, he said.At the moment, 20-year-old scheme members, for example, are highly dependent on the initial return guarantees they are given.ATP’s pension model differs fundamentally from the UK model in that pension contributions are annuitised from the start – the scheme promises an income rather than a pot of savings that will later be used to buy an annuity.ATP said it would still hedge the new guarantees fully, but that the interest-rate sensitivity of these guarantees would be considerably lower than that of the current guarantees.The change should be seen in the context of the new discount yield curve ATP implemented last autumn to value its existing pension liabilities, the pension fund said.It said this had reduced the interest-rate sensitivity of existing guarantees by 25%.ATP also stressed that all existing guarantees would remain unchanged, and that the change would apply only to new contribution payments, affecting members born in 1964 or later.last_img read more

Private equity fundraising breaks more records in ‘saturated market’

first_imgChristopher Elvin, head of private equity products at Preqin, said even when the largest fundraisers were discounted, managers were seeking money in a “saturated market”.He argued that the figures showed “the private equity model is working and, in a low interest rate environment, the asset class will continue to appeal to investors looking for high absolute returns and portfolio diversification”.Nearly $1.5trn has been returned to investors since 2013, Elvin added, while Preqin’s estimate suggested that investors would have received a record amount of cash back from their allocations in 2016.“Despite the competition for investment, the majority of limited partners [LPs] are very liquid as a result of continuing distributions and are looking to maintain, if not increase, their exposure to the asset class,” Elvin said.Vicky Williams, managing director at consultancy firm Cambridge Associates, told IPE: “There is a lot of money chasing fewer deals at the top end, which is pushing up prices. There are assets at the top end, of course – otherwise managers wouldn’t be raising money – but they are relying more on taking public companies private, rather than other traditional private equity deals.“We try to look at the mid-market sector, where it is less competitive, and you have the opportunity to pay less for assets.”Williams – who has led private equity investments at BP, British Airways, and Shell pension funds in the UK – said managers were striking a careful balance between accommodating existing investors and bringing in new LPs as demand rose.“Sovereign wealth funds and pension funds want big tickets,” she said. “That can be hard to accommodate.”In some cases, large investors can see their desired allocation ‘scaled back’ to accommodate others – even in the biggest funds. Increasing the size of the private equity fund is often an option, but Williams said big investors could see their target allocation reduced, by 10-20% at most.“Private equity is very relationship-based,” Williams said. “Having said that, with larger funds it’s still hard to get the size of allocation that you want. General partners are very mindful of their existing LPs, but there can be pressure on the size of allocations when a manager is trying to expand its range of limited partners, either by geography or type.”As well as the Softbank Vision Fund – set up by the founder of Japanese telecoms and technology giant Softbank, Masayoshi Son – three of the five largest funds in the market in Q1 were Asian, including the CNY200bn (€26.6bn) China State-Owned Capital Venture Investment Fund. This helped take the number of Asia-based funds and their aggregate target capital past the equivalent figures for European funds. More than 1,900 private equity funds are currently seeking capital from investors, an all-time record, as demand for the asset class soars, according to Preqin.The private assets data firm reported that some 1,908 funds were seeking an aggregate $635bn (€583bn) – also a record amount – from investors in the first quarter of 2017.The figure included the Softbank Vision Fund, which is targeting $100bn from investors interested in technology companies. If successful, it would be the biggest private equity fund ever. However, there was also a record amount of cash waiting to be deployed, Preqin said: $842bn was ready for investment at the end of Q1.last_img read more

Turkey acts to address auto-enrolment opt outs

first_imgOf the 11.9m pension savers, 6.9m are saving for pensions within the voluntary individual pension scheme (BES), and 5.2m have auto-enrolled via the OKS system, which started operating in January 2017.The reform was a part of the New Economic Plan presented by treasury and finance minister Berat Albayrak in September. The plan stated that the regulation on the individual pension system would be restructured to make it more sustainable.High opt-out rateAutomatic enrolment of all Turkish public and private sector employees into pension saving vehicles launched in 2017. It increased the total number of pension savers in the individual savings system from 6.6 million in 2016 to 10.3 million in 2017.Auto-enrolment applies to all employees under the age of 45. It was initially applied only to firms with more than 50 employees, but from July 2018 companies with 10-49 employees were included. From this month, the OKS will cover companies with between five and nine employees.However, some 54% of those who were brought into the system during the first year exited the system during the two-month opt-out period. The three most common reasons given for opt-outs were high expenses or indebtedness (71%), lack of affordability (56%), and lack of confidence in long-term investment (35%), a report from the Insurance Association of Turkey (TSB) stated. In addition, during 2018 the number of participants in the voluntary system declined from 6.92m at the end of 2017 to 6.87m.At the end of December 2018, Turkey’s private pensions system had TL86.7bn (€14.4bn) in assets under management, invested in 406 funds by 18 pension insurance companies, according to TSB data.Between January and November 2018, assets in the sector achieved a return of 8.7%. Funds investing in precious metals yielded the best returns, gaining 28.2%.Expanding membership in the system is necessary as Turkey’s pension system is expected to face new pressures in the next decade. According to the OECD, while Turkey is one of the few of its member countries that still enjoys a “demographic window” – the working age population is growing more rapidly than dependent age cohorts – this window is rapidly closing.“Even if the current trend increase in labour force participation – notably by female workers – and the increase in effective retirement age will partly alleviate the immediate impacts, both pension and health systems will face new pressures within less than a decade,” noted an OECD survey in July .Further reading The Turkish government has updated rules for its auto-enrolment pensions system in an attempt to reduce the high proportion of workers opting out of retirement savings.The country’s Resmi Gazete reported on 27 December that, employees who have used their right to exit from the auto-enrolment system would be automatically re-enrolled into it within three years.In addition, Turkey’s finance ministry reserved the right to either reduce the period before re-enrolment to one year, or extend it to five years.The measure aimed to maintain and grow the membership of the country’s private pensions system, which currently covers only 11.9m of Turkey’s 81m population.   Credit: silebezi Istanbul, TurkeyTurkey: Rethinking auto-enrolmentSeda Peksevim – a PhD student at Boǧaziçi University in Istanbul and a researcher at its Center for Applied Research in Finance, as well as a recent recipient of a grant from the IPE Pensions Scholarship Fund – explores the background to Turkey’s relatively new auto-enrolment system and the challenges it has faced so farIreland: Drive is on for auto-enrolmentAuto-enrolment is one of the main goals of the Irish government’s pension reform plans. Gail Moss delves into the country’s ambitious planAuto-enrolment still faces acid testMillions of workers have joined workplace pension schemes under auto-enrolment but there is still some way to go before full adoption, reports Gill Wadsworthlast_img read more

Petrobras’ oil and gas production flat in May

first_imgBrazil’s Petrobras said that its oil and natural gas production, including natural gas liquids (NGL), was 2.67 million barrels of oil equivalent per day (boed) in May remaining flat for the second month in a row. The state-owned energy giant said that 2.57 million boed were produced in Brazil and 96 thousand boed were produced abroad.The production of natural gas in Brazil, excluding the liquefied volume, was 81.0 million cubic meters per day, 2.4 percent higher than the previous month.This increase is mainly due to the higher gas demand for thermoelectric generation in the state of Amazonas and the end of the maintenance stoppage of Peroá field platform in the Espirito Santo Basin.Natural gas production abroad was at 6.4 million cubic meters per day, 0.8 percent higher compared to the volumes recorded in the month of April, boosted by the higher gas demand in Bolivia, the company said.last_img read more

Kingston District Council to Dispose of Surplus Dredger

first_imgThe Kingston District Council, South Australia, has agreed to dispose of its original cutter suction dredger following a unanimous decision at their September meeting. In making this decision, Mayor Kay Rasheed said that “it simply came down to the fact that the vessel is no longer able to be effectively utilized.”Given the significant increase and change in material accumulation, primarily the seagrass wrack within the Maria Creek, the original dredge is not capable in successfully removing this material, according to the council.This is compounded by the fact that there is no engineering or specifications on the vessel and the environmental impact is unable to appropriately be assessed by the relevant authorities.Disposing of the dredger will provide an opportunity to consolidate marine assets and operate only one, particularly given the council’s current position to focus on a long-term sustainable solution for the boat launching facility at Maria Creek.Mayor Rasheed indicated that this process took a step forward at the September meeting, with the council agreeing to proceed to Stage 1 – detailed concept design.This follows receipt of Tonkin Consulting’s scope of work brief which will see the council seeking quotations for a scientifically proven concept design for alterations to the existing structures.last_img read more

Over 50,000 patients treated under Cuba-Venezuela health agreement

first_imgNewsRegional Over 50,000 patients treated under Cuba-Venezuela health agreement by: – April 21, 2012 Share Share Sharing is caring! Flags of Cuba and Venezuela. Photo credit: crossed-flag-pins.comHAVANA, Cuba (ACN) — More than 50,000 Venezuelans have received medical treatment in Cuba, said Mary Cedeño and Joel Perez, members of the social movement of patients benefiting from the comprehensive health agreement existing between the two countries. According to the cubaminrex.cu website, during an interview granted to Venezolana de Television, Cedeño, the mother of a young girl treated on the island, asserted that, since November 2010, there have been 409 flights to Cuba carrying patients to receive free medical treatment. A total of 28,060 from the almost 51,000 citizens treated, she added, have been direct patients, and 22,851 were persons accompanying them, who were also treated in many cases for various ailments. For his part, Joel Perez, said that four years ago he traveled to the Caribbean island to receive treatment for drug addiction. “In Cuba I received wonderful treatment, which included psychology therapy, physical and occupational education, and general medicine,” he commented. Caribbean News Nowcenter_img 13 Views   no discussions Share Tweetlast_img read more

Osimhen’s camp ‘optimistic’ over Napoli move

first_img A member of Osimhen’s entourage, Osita Okolo told Radio Kiss Kiss: “The meeting with De Laurentiis is over. It is only in the next few hours that I will be able to discuss this meeting with the president (of Lille). read also:Osimhen goes on boat cruise with girlfriend ahead of Napoli talks “Victor will now take his time to decide what he wants to do. “Personally, I am optimistic about the developments in the negotiations. But the final decision will rest solely with Victor.” FacebookTwitterWhatsAppEmail分享 Osimhen has spent the past two days in Naples for transfer talks with the Azzurri. Yesterday, the Nigeria international met with Napoli president Aurelio de Laurentiis, having spoken with coach Rino Gattuso the previous day.Advertisement Promoted ContentThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreBest & Worst Celebrity Endorsed Games Ever MadeWho Earns More Than Ronaldo?7 Universities Where Getting An Education Costs A Hefty PennyPlaying Games For Hours Can Do This To Your Body8 Superfoods For Growing Hair Back And Stimulating Its GrowthWhich Country Is The Most Romantic In The World?7 Universities In The World With The Highest Market Value8 Addictive And Fun Coffee Facts10 Risky Jobs Some Women DoThe 90s Was A Fantastic Decade For Fans Of Action Movies11 Most Immersive Game To Play On Your Table Top There’s confidence amongst the management team of Lille striker Victor Osimhen joining Napoli this summer. Loading… last_img read more

Man U list Ighalo for Europa League

first_imgRelatedPosts Ighalo: My best moment as ‘Red Devil’ EPL: Crystal Palace stun sloppy Man U EPL: Red Devils attack Palace Manchester United have confirmed Odion Ighalo has been registered for the Europa League and will be eligible for the upcoming tie against Club Brugge. The Nigerian has not attended the training camp in Spain, with manager Ole Gunnar Solskjaer revealing to us his latest signing will continue to work in Manchester, before linking up with his new colleagues on their return. The deadline-day arrival from Shanghai Shenhua could be involved when the Reds travel to Belgium in the round of 32 on February 20. The game comes hot on the heels of the next Premier League tie against Chelsea, on February 17. Fellow January signing Bruno Fernandes is also available to feature for United in the competition, despite representing Sporting Lisbon in the group stages. The Portugal international benefits from a change in the cup-tied rules in European games. United lifted the trophy in 2017 and victory in the Europa League continues to guarantee a spot in the following season’s Champions League.Tags: Club BruggeEuropa LeagueManchester UnitedShanghai Shenhualast_img read more

One dead, deputy injured in Palm Beach County shooting

first_imgThe Palm Beach County Sheriffs department is reporting that one of it’s undercover officers was injured in a shooting involving a known MS-13 gang member.The incident occurred around 8:00 pm at Turnberry Apartments near PGA Boulevard and Military Trail.According to the report, the undercover narcotics deputy and other agents, met the suspect in a parking lot close to the apartments where the dealer lived to conduct a drug deal.The agents pulled up behind the suspect vehicle and identified themselves. An agent then walked up to the driver’s side of the suspect’s car and that when the suspect pulled out a weapon and shot him two, to three times.  The deputy then opened fire on the suspect, killing him in his vehicle.The deputy, who just turned 29 that same evening, was rushed to the hospital with a bullet lodged in his cheek.  He is currently undergoing surgery and is expected to be ok.last_img read more