Mandate roundup: ERAFP, APUC, Mercer

first_imgIn other news, Mercer has been appointed as the preferred master trust by the UK’s Advanced Procurement for Universities and Colleges (APUC) for over 200 higher education institutions that it represents.Created under a framework agreement, APUC’s deal will allow educational institutions to use Mercer’s defined contribution (DC) master trust without needing to conduct separate tender exercises.The offering is auto-enrolment ready, and APUC said it will save the education institutions time, effort and cost, and avoid the enrolment of staff into several different DC schemes through their careers.Emma Nicholson, Special Projects Manager at APUC, said: “The assessors felt it would offer the [education] sector competitive, high-quality pension provision, robust independent governance and value for money. The new arrangement has been designed to offer a flexible solution.”Mercer’s lead of UK DC solutions, Roger Breeden, added: “Through our robust governance structure, overseen by the independent trustee, we are confident this will be the plan of choice for the higher and further education sector.” The French supplementary public-sector pension scheme, ERAFP, is seeking to invest €400m in US dollar-denominated corporate debt.The €16bn fund said that the tender would act as a framework agreement, with one manager likely to be seeded with capital while two others are appointed ‘substitutes’.In a statement, the scheme added: “The portfolios will principally be invested in US dollar-denominated bonds of corporate issuers located in OECD countries, with the exception of bonds issued or guaranteed by a sovereign state or a local authority.”It said that the €400m allocation should only be seen as indicative of the investment potential over a three-year period, with the contract running for up to five years.last_img read more

No. 1 seed Syracuse falls to No. 4 seed North Carolina, 16-15, in the ACC tournament

first_img Facebook Twitter Google+ Published on April 28, 2017 at 10:48 pm Contact Charlie: [email protected] | @charliedisturco DURHAM, N.C. — Syracuse is used to these late-game situations. Battling back from a deficit as the game winds down has become a normality for the top-ranked team in the country. SU already defeated North Carolina two weeks ago after trailing by five. But the deficit had never been nine — and never has Syracuse battled back from such a steep hole to win.That held true in the first round of the Atlantic Coast Conference tournament, as No. 1 seed Syracuse (11-2, 4-0 ACC) fell just shy of making its largest comeback in program history. No. 4 seed North Carolina (7-7, 1-3) used a dominant 11-1 first-half run, jumping out to a nine-goal lead and eventually defeating the Orange, 16-15. The Orange’s first loss since Feb. 25 against Army also marks the first time Syracuse will not play in the conference championship since joining the ACC.Syracuse struck first with a Jamie Trimboli left-handed shot. That was Ben Williams’ last faceoff win for the next 21 minutes and 16 seconds. North Carolina slowly picked apart the SU defense after each faceoff win. The offense gelled as a unit and used its transition offense to jump out to an early lead. Ten different Tar Heels contributed a goal in what became an 11-1 run.“The transition game sparked the offense,” UNC head coach Joe Breschi said. “We were getting those early offensive looks, scoring, winning faceoffs, settling down in the six on six and took care of the ball.“We weren’t forcing things — we were looking for the right matchups.”After Trimboli’s goal, the Orange could not find the back of the net for roughly a quarter. The few looks the offense had in transition resulted in turnovers or saves and transition in the opposite direction. SU’s only goal in the UNC first-half run came on a fast break by Peter Dearth — Sergio Salcido forced a turnover, picked up the ground ball and found an open Dearth cutting toward the cage.AdvertisementThis is placeholder text“We didn’t get a chance to play of lot of offense in the first half,” Syracuse head coach John Desko said, “and they got the early lead.”With Williams losing faceoff after faceoff, Desko decided to make a change. He went with freshman Danny Varello, an otherwise consistent producer at the X in the bits and pieces he has played throughout the season. But even Varello could not figure out UNC’s Stephen Kelly, who won 13 straight after losing the opening faceoff.Kelly’s success at the X led to quick transition goals. Ten seconds after Syracuse’s only goal in the 11-1 run, long pole Jack Lambert picked up the ground ball off a Kelly faceoff win and fired a shot past Evan Molloy. Less than 10 minutes later, Lambert broke out in transition, wound up and fired top shelf.Each faceoff win quickly resulted in long possessions for North Carolina. The team passed the ball around, using its top threats — attacks Chris Cloutier and Luke Goldstock — as well as its younger players, like Tanner Cook, Justin Anderson and Andy Matthews. The Syracuse defense tried sliding to adjust, but that only created holes. Over a handful of times UNC’s passing resulted in an opening and one-on-one with goalie Molloy.“Drawing slides, drawing men and being able top see the whole field,” Cloutier said. “We’re meshing really well right now.”When the SU defense would stick close to the attacks and cut off the passing lanes, UNC worked the ball up to the midfielders, who attacked the short sticks. Early in the game, Michael Tagliaferri scored his first after beating Joe Gillis on a dodge.“We wanted to do to them what they were doing to us,” Desko said. “Start some fast breaks going from defense to offense … Their poles are very good offensive players and to make the shots they made with their poles, we knew that could happen.”Syracuse has had a similar script in most of its games this season. A late comeback, a chaotic ending and a one-goal game normally ending in its favor. But this time, a dreadful first half reversed the script.“It just got away from us in the second quarter,” Desko said. “There wasn’t anything we were really doing well.” Commentslast_img read more