Chelsea star Pedro tells Maurizio Sarri he needs to be more flexible with is tactics

first_imgAdvertisement Comment Chelsea star Pedro tells Maurizio Sarri he needs to be more flexible with is tactics Chelsea have lost their last three away games 12-0 on aggregate (Picture: Sportimage)Chelsea star Pedro admits his teammates are finding is hard to carry out Maurizio Sarri’s tactics against the best sides in the Premier League.The former Napoli coach’s ‘Sarri-ball’ gameplan, based around dominating possession and pressing the opposition, yielded impressive results during the early months of his tenure.Sarri presided over an 18-game unbeaten run which came to a grinding halt with a 3-1 defeat against Spurs at Wembley back in November and has suffered comprehensive defeats against the likes of Bournemouth, Arsenal and Manchester City in recent weeks.More: 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 Malmo v Chelsea: Maurizio Sarri press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 7:53FullscreenMalmo v Chelsea: Maurizio Sarri press conferencehttps://metro.co.uk/video/malmo-v-chelsea-maurizio-sarri-press-conference-1862706/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Chelsea are back in Europa League action this evening against Malmo and Pedro has urged his manager to experiment with different tactics after admitting Sarri-ball is difficult to implement against elite opposition.AdvertisementAdvertisementADVERTISEMENT‘All the team follow the idea of Maurizio: press really high, stay compact, and to create chances,’ Pedro said. ‘With good possession, a lot of the ball. We can do this as a team‘But sometimes it’s so difficult to play in this way. It depends upon the opponents. City played very well, so it was so difficult to press. To create between the lines, and to defend.‘But it’s Maurizio’s idea, and I prefer to press high when we recover the ball to create chances. Not to wait for 90 minutes to recover the ball and run 60m to score the goal.‘In the last games, it’s not been in very good condition for the results. Now, it’s a good opportunity tomorrow to win and get our best confidence.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenalcenter_img Metro Sport ReporterThursday 14 Feb 2019 9:20 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link223Shares Advertisementlast_img read more

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IPE Awards Seminar: Asset managers must act on ‘societal need’ for risk-based investment products

first_imgHe quashed the suggestion the board was surrendering control over investments, noting that they were granted “maximum control” over the approach and that the triangle model of governance still left the board with independent verification of risk and returns.He said the model was, in a way, “back to the future”, harking back to investment approaches before the invention of modern portfolio theory.Economou said, 60 years ago, “investing was earning more than cash and not losing money”.He said CERN’s new approach was a way of expressing an expected return target and a risk budget.His view was shared by Pascal Blanqué, CIO of Amundi Group, who told delegates the traditional asset allocation approach was “a poor way” to invest.“It is a poor way to diversify,” he said. “This applies to most categories – emerging versus developed, credit versus equities.”José Suarez Menendez, currently director of the Dutch VPTech and a former board member at metalworker fund PMT, also noted that, in the wake of the crisis, it was important to better understand risk exposure.“We started to look through the asset allocation and look at risk factors underneath – so risk exposure – not in the sense of which kind of assets do we have in place, but what risks do I have on my portfolio by the assets I have in place,” he said.The importance of risk-based investing was also emphasised by Ronald Wuijster, chief client officer at Dutch pension manager APG.“Essentially, the way to make good [products] for our clients is a better return on risk – that’s what it’s all about,” he said.Economou said the CERN model was based around precisely idea that investment staff should be focused on the risk exposure, and argued that the asset management industry should now aim to fill the void.“Please, do come up with products and approaches that can help those smaller pension funds that don’t have the resources to go through that on their own address the real, fundamental challenge they are addressing,” he said.The chief executive said that, without such a change by the asset management industry, many pension funds would in a decade’s time have problems paying benefits.“There is a real societal need for the industry to step up to the plate and offer the skill set to those smaller players who need it,” he said.,WebsitesWe are not responsible for the content of external sitesLink to Journal of Investment Consulting article written by Théodore Economou The asset management industry must act on a societal need and devise products allowing small pension funds to invest based on risk desires, rather than simply rely on traditional asset allocation models, according to the chief executive of the CERN Pension Fund.Théodore Economou told delegates at the IPE Awards seminar in Noordwijk that a governance model implemented by the scheme in 2011 allowed investment staff at the fund for the employees of the Large Hadron Collider in Geneva to allocate assets guided by the singular constraint of overall portfolio risk.He said overall portfolio risk was decided between the board and the investment staff on a yearly basis, with a risk budget and return target agreed.“In order to implement that, the staff is given full flexibility,” Economou said.last_img read more

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ECB to ‘act as backstop’ to protect markets from Greek default contagion

first_imgAsset managers remain calm over the risk of contagion from a Greek sovereign default and euro-zone exit, with the credibility of the European Central Bank (ECB) and its quantitative easing (QE) programme providing a backstop to increasing volatility.Negotiations between Greece and the European Commission, International Monetary Fund (IMF) and ECB ground to a halt as the country enters a six-day bank holiday before a referendum on whether to accept its creditors’ proposals.They have been in negotiations with Greece over reforms to the public sector, privatisations, labour markets and pensions.While expectations grow for Greece to default on an IMF loan tomorrow, European investment markets have opened weaker, with the Euro Stoxx 50 down 3.2%. The FTSE100, DAX and CAC40 are all down between 1.5% and 3%.Despite sovereign bond yields in Italy and Spain rising by 25 basis points and 32bps in Portugal, asset managers have cooled expectations that a Greek default and euro-zone exit would lead to equity and bond market disruption, and contagion to other economies.Greek debt yields are up 346bps to 13.94% from Friday – and, should the country vote no on 5 July, a euro-zone exit becomes more likely.Around 80% of Greek government debt now resides with the IMF and the ECB, protecting private markets; Swiss firm Lombard Odier Investment Managers said the central bank would “spring into action” should any damage occur to euro-zone periphery or high-yield debt markets.In the short term, it said riskier asset markets would remain quiet, with shifts to safe-haven assets in German bunds and US Treasuries.“Beyond the next few days, implications for credit (periphery sovereign and corporate) are complicated, as, depending on the damage done by markets, we are likely to see the ECB spring into action,” the manager said.Within equities, the manager said a long-term impact on European stocks was also unlikely despite an increase in volatility over the short term, again due to the ECB’s previous market intervention.Jean-Pierre Durante of Pictet Wealth Management said the main contagion risk remained political.“In equity markets, the firm said short-term investments already exited euro-zone stocks after a [recent] 10% correction, with longer-term investors carrying on in equities based on the impact of QE in fixed income markets,” he said. “We can expect that equity markets should not correct much more than 5%.”Durante said bonds were a market to monitor, and key to it would be contagion risk to other bailed-out euro-zone economies.AXA IM’s head of research and investment strategy, Eric Chaney, said that, while the euro-zone awaited the outcome of a Greek default, volatility would settle in, with the euro down against the dollar by about 5%.“Other markets will decline, though to a lesser degree,” Chaney said.“We see global markets down by around 5%, depending on the stock market beta. As the US will be considered as a safe haven, Wall Street will correct less; other markets will presumably print deeper red numbers (on uncertainty and fear).”He warned Spanish and Italian debt yields could rise by 3 percentage points.However, Brewin Dolphin warned the risk of contagion was being underplayed.“We cannot take the creditors’ claims that contagion will be contained at face value – rather, these statements were made to strengthen their negotiating positions,” it said.“The contagious implications are that any creditors to euro-denominated cross-border loans will be sweating now.“German banks have some $13bn of cross-border exposure to Greece, with US and UK banks holding similar amounts.”However, it added: “Some of this will be secured on euro cash flows, so the exposure looks limited overall – particularly in the context of Lehman Brothers’ nearly $800bn debts. “The economy is stronger and the banking system than those dark days.”last_img read more

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Disabled workers’ scheme switches to ‘cheaper’ passive strategy

first_imgLast year, it increased its stake in its “inclusion portfolio” of 50 companies that were willing to employ disabled people, adding €100m. It also added €100m to its green bonds allocation.PWRI’s equity allocation represents nearly two thirds of its return portfolio, which in turn accounts for 57% of its overall investments.Equities fall, bonds gain PWRI, the €8.5bn Dutch sector scheme for disabled workers in a sheltered environment, has switched to a passive equity strategy citing costs and ESG reasons.In its annual report for 2018, the scheme said passive management would reduce costs and make sustainable investing easier “as it offered more scope for responsible investing, including reducing carbon emissions”.It said it intended to split its equity holdings into two passive global portfolios, with scope to accommodate its own ESG approach.The closed industry-wide scheme added that it wanted to increase its focus on investments in companies that paid additional attention to issues such as workload, health and safety. European equities were a drag on PWRI’s performance, but European bonds softened the impact with gainsThe pension fund posted an overall loss of 4.2% for 2018 – an underperformance of 0.9 percentage points – which it largely attributed to a loss of almost 11% on its equity investments in Europe and emerging markets.Its inclusion portfolio lost 7%.PWRI’s holdings of European bonds were among the few asset classes to generate positive results, with returns ranging from 0.2% to 2%.It incurred losses of up to 4.5% on credit, and reported negative returns of up to 8.4% on emerging market debt.In contrast, direct property and private equity gained 9.2% and 4.5%, respectively. Residential mortgages added 1.8%, but green bonds declined by 0.2%.The pension fund reduced its interest rate hedge from 26.3% to 25%, with the intention to raise the cover when interest rates rise.Funding changesLast year, the sector scheme received a €10m contribution from the ministry of social affairs for the first time. The reparation payment followed legislation known as Participatiewet, passed in 2015, which required companies to directly hire disabled workers who were previously employed in dedicated workshops.The change meant hired workers accrued pensions with company funds instead of PWRI, depriving PWRI of new members and contributions. The compensation payments will be paid annually over the next 40 years.PWRI said its administration costs dropped by €8 to €72 per participant. Its asset management and transaction costs were 28bps and 14bps, respectively.At the end of July the scheme’s funding stood at 109%. Last year, it granted its 203,000 participants and pensioners an inflation compensation payment of 0.3%.last_img read more

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Defending EPL title is tougher, De Bruyne warns Liverpool

first_imgMan City star Kevin De Bruyne has warned Liverpool how difficult it is to win back-to-back Premier League titles. Manchester City successfully defended their crown in the 2018/19 season but were pushed all the way by Liverpool.Advertisement “It was harder than we expected and we needed a very big fight with them to get it done,” De Bruyne told the Daily Mail.“Mentally, sometimes it’s tougher. Some teams are a little more focused on beating you.“Sometimes, some people find it more difficult after winning to get that same feeling again. It is very difficult to recreate the same feeling even with the same team.Kevin De Bruyne and Manchester City were denied a third successive Premier League title by LiverpoolRead Also: Messi: Barcelona president harassed in first public outing“There is so much in life that goes on personally. Every little thing can change you. Injury can change you. Football is all about circumstances and it’s already difficult enough to try and win one, never mind twice.“I think they [Liverpool] can reach the levels again. I don’t think you need to change the team to have the same feeling or ambition. But I don’t know how they feel. I don’t know their desire. For everyone, it is personal.”FacebookTwitterWhatsAppEmail分享 Promoted Content2020 Tattoo Trends: Here’s What You’ll See This Year12 Iconic Actors Whose Careers Were Stunted By A Single Movie9 Movie Scenes That Got Re-Shot Because Viewers Didn’t Like ThemFantastic-Looking (and Probably Delicious) Bread ArtThe Best Cars Of All TimePortuguese Street Artist Creates Hyper-Realistic 3D Graffiti10 Risky Jobs Some Women Do7 Ways To Understand Your Girlfriend BetterBirds Enjoy Living In A Gallery Space Created For ThemBest & Worst Celebrity Endorsed Games Ever MadeWhich Country Is The Most Romantic In The World?5 Of The World’s Most Unique Theme Parks Loading… Pep Guardiola’s men finished on 98 points, just one ahead of Liverpool, who responded by finishing 18 points ahead of City last season to end their 30-year wait for a league title.last_img read more

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Swift Springs extends IMCA rookie awards through 2020

first_imgCHINO HILLS, Calif. – Swift Springs has renewed rookie of the year awards in five IMCA divi­sions for the 2019 and 2020 seasons. The other four regional Modified rookies of the year each receive one spring.  “Swift Springs is excited to extend our relationship with IMCA through 2020. Being part of this racing series and being able to reward the rookies of the year is very rewarding and we look forward to continue growing our relationship with IMCA and the racers across the country,” said Motorsports Director Frank Simonetti. Swift Springs became an IMCA sponsor in 2017. Awards will be presented during the national banquet in November, or mailed begin­ning the following week from the IMCA home office. The Chino Hills, Calif., manufacturer gives sets of four springs to IMCA Modified, IMCA Late Model, IMCA Sunoco Stock Car, Karl Chevrolet Northern SportMod and Smiley’s Racing Prod­ucts Southern SportMod national rookies of the year.  Information about Swift-made springs is available at the www.swiftsprings.com website, on Face­book or by calling 909 393-8623. “Extending the Swift agreement for another two seasons was the plan when the program was initially implemented and Swift certainly made good on that pledge,” IMCA Marketing Director Kevin Yoder noted. “They have demonstrated their commitment to IMCA racers and are already on the ground attending IMCA events in 2019.”last_img read more

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West Florida Announces Men’s and Women’s Basketball Internet Broadcast Schedule

first_img Share West Florida Announces Men’s and Women’s Basketball Internet Broadcast Schedule Nov. 23, 2007PENSACOLA, Fla. – The Men’s and Women’s Basketball teams will have at least 30 games available on stretch internet this season. To check how you can listen, look for the stretch internet link on the UWF Athletics home page, along the right side. Click on the link for directions. You can also listen via phone by calling 1-866-208-5873 and entering the code 133766# when prompted. Twelve conference double-headers highlight the schedule of broadcast for this season.The first broadcast is Friday, Nov. 23rd, at 7:00 pm, as the UWF Women play Arkansas Tech in Russellville, Arkansas for a Thanksgiving weekend tournament. The Men’s first broadcast will be Dec. 3rd, when the Argonauts travel to William Carey. The Men’s game at St. Leo on Dec. 17th will be their second broadcast, while the Women’s second broadcast will be Dec. 16th, when the team travels to Tampa.The first home games on the broadcast schedule come in early January. The women host the defending National Champions, Southern Connecticut State, on Jan. 2nd, in a 4:30 pm game, and a few days later, the men host Delta State on January 7th, for a 7:30 pm tip-off. Then, beginning January 12th, all conference games will be broadcast, beginning with a home double header vs. North Alabama. Any post season games that the teams qualify for, will also be available on the internet broadcast schedule.The possibility of additional games being added to the broadcast schedule does exist, so keep checking the schedule posted on the stretch internet link on the UWF Athletics home page. Print Friendly Versionlast_img read more

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Rev. Lee Creech, 95

first_imgRev. Lee Creech, 95 of Greensburg, passed away on Monday, October 14, 2019. Lee was born on September 29, 1924 in Earling, West Virginia, the son of F.L. and Janette (Morrison) Creech. On April 20, 1946, Lee married Ruth Scheivley in Sunman. Lee was a United States Army Veteran, having served in World War II.Survivors include: his children, Donald (Patsy) Creech of Waldron, Carol (Wesley) McCullough of Westport and David (Sharon) Creech of Greensburg; 12 grandchildren; 33 great grandchildren; 15 great great grandchildren; sister, Betty Cott. He was preceded in death by his parents; wife, Ruth Creech; sister, Noreen Duncan; brother, Fred Creech; and Sister in Law, Betty Creech.Rev. Lee was the Pastor of the Lighthouse Chapel and was a member of the Gideon’s. He and Ruth were missionary evangelist, they started the church in 1969.Visitation for family and friends will be held on Friday, October 18, 2019 from 4:00 pm to 8:00 pm at the Gilliland-Howe Funeral Home. Visitation will be one hour prior to the Funeral Services at 11:00 am on Saturday, October 19, 2019 also at the funeral home. Rev. Jerry Hatton will be officiating. Burial will follow at the St. Paul’s United Methodist Cemetery in Sunman. Memorial contributions may be made to the Gideon’s. Online condolences may be made to the family at www.gilliland-howe.com.last_img read more

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Souness: Last chance for Suarez

first_img Press Association Former Liverpool player and manager Graeme Souness labelled Luis Suarez’s apparent bite on Branislav Ivanovic as “embarrassing” and believes the Uruguayan is now in the “last chance saloon” as a Reds player. The controversial forward once more attracted the headlines for all the wrong reasons after appearing to bite Ivanovic midway through the second half of Liverpool’s clash with Chelsea. That the 26-year-old scored a late leveller to ensure the Merseyside club escaped with a 2-2 draw against the Champions League chasers at Anfield is very much an afterthought. Instead, much of the post-match reaction has centred on his aggression on Ivanovic, with Souness stunned by the incident, saying in his punditry role on Sky Sports 1: “I’m not sure what to make of it really, embarrassing.” center_img He added: “A football club’s board of directors’ job is to attract and get the best football players and keep them at the football club. He is making it very difficult for himself to stay at Liverpool, I believe that puts him in the last chance saloon. “More important than any of that is to safeguard the good name of the football club. This club is a world renowned football club. It is up there with any Barcelona, Real Madrid, Manchester United, it is up there with any of them.” Souness believes the incident came at a bad time for Liverpool, who this week marked the 24th anniversary of the Hillsborough disaster. The 59-year-old pointed to Suarez’s chequered past that has seen him involved in several controversies in the Barclays Premier League. “People will be talking about this for a long, long time and it’s going to show Liverpool in a very bad light – especially in this week of all weeks, anniversary of Hillsborough,” he added. “If you look at Suarez’s track record in the past, his incident with Patrice Evra, this is not the first time he has bitten someone in a football match. It can’t happen again. I firmly believe this puts him in the last chance saloon as a Liverpool player – the board have to see it that way because they’re risking everything this great football club stands for.” Professional Footballers’ Association chief Gordon Taylor was disappointed Suarez’s actions spoilt a good game of football, saying on Sky Sports News: “It was not good to see to say the least. It was unacceptable. “His reputation for controversy continues to increase when he can be such a good player, one of the world’s best, so it is a real dilemma now. It’s uncalled for, it’s not good, it’s depressing, it’s such a shame for a player who’s a really good footballer but this is not the first time that such things have happened.” last_img read more

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