Net inflows and assets under management (AUM) hit record highs in Europe last year, according to data provider Morningstar.European-domiciled open-ended funds had €8.9trn of AUM at the end of 2017, up from €7.96trn a year before. Net inflows reached €682.8bn, with fixed income products “raking in a record €288bn”, Morningstar said.Assets in long-term passive funds grew more than those in actively managed funds, primarily in equity. Bond funds remained dominated by active management, with the market share of passive fixed income funds rising only slightly from 11.8% to 12% year on year.BlackRock was the most popular European asset manager last year, bringing in €62.7bn of assets. Net inflows were €16.5bn. Standard Life’s Global Absolute Return Strategies fund had the most outflows, with €9bn exiting.In Germany, assets under the management by the fund industry topped €3trn last year, a record high, the country’s investment management association announced.The figure represents a 77% increase over 10 years, according to the BVI.At €1.6trn, assets in open-ended institutional investment funds (Spezialfonds) accounted for more than half of the total. Assets held in discretionary mandates amounted to €379bn.Open-ended funds had their second-best year for sales, with managers attracting €160bn of net inflows. Discretionary mandates saw outflows of €16.2bn, and closed-ended funds brought in net inflows of €2.9bnSpezialfonds attracted the most inflows – €88.1bn – with retirement benefit schemes such as professional pension schemes and pension funds, as well as insurance companies, accounting for a combined total of €63.5bn.Tobias Pross, the BVI’s president, said: “Along with the low interest rates, retirement planning was the main driver behind new business for funds.”The BVI also said that outsourcing of portfolio management had “markedly increased” in the open-ended Spezialfonds segment. At the end of 2012, 37% of assets in open-ended securities Spezialfonds were managed by third-party managers, and at the end of 2017 this stood at 41%.“This is due to the fact that foreign asset managers use the portfolio management of funds to access the German market without having to establish their own investment management company,” said the BVI.“In addition, many institutional investors opt for specialised asset managers to manage certain asset classes, such as emerging-market securities or corporate bonds.”The trend was beginning to gain traction in open-ended property funds, it added.In Switzerland, assets under management in the fund market stood at CHF1.1trn (€1trn) at the end of 2017, having passed the CHF1trn mark in July for the first time.SFAMA, the Swiss fund and asset management association, said that together with CHF845bn of assets in discretionary mandates for Swiss and foreign institutional clients, the total volume of assets managed by asset managers in Switzerland came to around CHF2trn.
The Trans Adriatic Pipeline (TAP) has achieved 50% completion mark, nearly 16 months after the start of the construction. This includes all engineering, procurement and construction scope, TAP informed.TAP’s contractors have cleared around 70% of the project route in Greece and Albania, approximately 539km out of 765km.Approximately 95% of the total 55,000 pipes to be used for the construction of the pipeline have been received in Greece, Albania and Italy. The last shipment of offshore line pipes has been offloaded in Brindisi, Italy, between September 3 and 6, 2017, the company noted.TAP managing director Luca Schieppati said: “We are pleased that TAP continues to progress on time and on budget. We therefore remain on track to deliver the first Shah Deniz II gas in 2020, bringing a much-needed new source of energy into the European energy network.“I want to underline that our project is built with the utmost care for the environment. Our teams are working very carefully along our route to ensure that the land on which construction has been completed is returned to the owners or users in its original condition or better. We are also collaborating with local authorities and local stakeholders to ensure that the benefits of our project are tangible across all those communities crossed by the pipeline.”
*Chases first sub-11 seconds 100m run in two yearsReigning Nigeria speed queen, Blessing Okagbare-Ighoteguonor, will be hoping to legally race inside 11 seconds in the 100m event for the first time in two years at the Meeting De Paris, the seventh leg of the money-spinning IAAF Diamond League meetings on Saturday at the Parc de Prince Stadium in Paris.The Nigerian, dethroned as African 100m champion without putting up a fight last year in Durban, South Africa has been struggling for form since she finished last in the 100m (11.02 seconds) in the final of the IAAF World Championships on August 24, 2015 in Beijing, China. Last year she failed to legally run a sub-11 seconds in the blue ribband event as her 10.92 seconds finish on July 18 in at the SÃ³stÃ³i Stadion in SzÃ©kesfehÃ©rvÃ¡r, Hungary was aided by a +2.6 metres per second trail wind.The last time she ducked inside 11 seconds was on September 3 last year at the IAAF Diamond League meeting in Zurich where she ran 10.98 seconds.This year the Nigerian holds an 11.16 seconds personal season best and will be hoping to better this mark by breaking 11 seconds on Saturday in Paris, a ground she will fondly remember for some spectacular performances.It was at the Meeting De Paris that she ran her 10.80 seconds, her second fastest 100m time ever. She was second in the race behind Jamaica’s Shelly-Ann Fraser-Pryce (10.74 seconds) just two years ago.In 2013 she also came second behind Fraser-Pryce at the same meeting, losing by the narrowest of margins (10.92 to 10.93 seconds) while a year later she ran her second fastest time over 200m (22.32) at the meeting.On Saturday, the Moscow 2013 IAAF Worlds double medallist will be hoping the presence of reigning World and Olympic 100m queen, Jamaica’s Elaine Thompson and Murielle AhourÃ©, the Ivorian who dethroned her as African champions at the starting block can propel her back to form and reckoning at the 16th IAAF World Championships in London in August.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram
Frank Larkin, a disability rights activist, has today spoken out against non blue badge holders for parking or blocking wheelchair accessible parking spaces. Today he said; “I was down the town [Letterkenny] this morning, and I observed not one, not two, not three, not four, but five wheelchair accessible parking spaces being used or blocked by non blue badge holders.” He has questioned when this issue will begin to be taken seriously by the authorities.Speaking to Donegal Daily, Frank said how this is an everyday occurrence for him, and leaves him feeling frustrated. “It usually means I can’t go where I need to and can’t get done what I need to do”. He says this has always been an issue that he has had to cope with since before he even began driving, and “it just hasn’t gotten any better over time” despite more awareness surrounding disability.He asserted; “There are laws there to deal with it. They need to be enforced better.”Frank is currently conducting a disability access survey of businesses in Letterkenny. He is inviting local businesses to take part. He says that “parking will certainly feature heavily in my finished review.” Speaking about his survey, he said; “The main aim is to identify how accessible premises in Letterkenny are or not and to make businesses think about how accessible they are as part of the process involves them filling in a self assessment form on how accessible their premises are.”If you are interested in getting in touch with Frank to register your business for the Disability Access Survey, you can contact him [email protected] or telephone 087 7405617.You can keep up to date with his work my visiting his Disability Awareness and Equality page.Activist hits out at non-badge holders occupying Wheelchair Accesible Spaces was last modified: August 26th, 2016 by Elaine McCalligShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:disability access surveyDISABILITY AWARENESSFrank Larkinletterkennywheelchair accessible parking