Mandate roundup: Japan’s GPIF seeks ‘multidimensional’ analysis

first_imgJapan’s ¥157trn (€1.2trn) Government Pension Investment Fund (GPIF) is searching for an institution to provide “multidimensional” analysis relevant to the formulation of its investment strategy, according to tender documentation.The selected organisation will be asked to provide analysis on matters such as economic policies, including monetary and fiscal aspects, and political and geopolitical risks.“[O]ther analysis on the formulation of investment strategy” may also be requested, according to a draft specification about the “Project to Provide Information on Investment Strategy”.“GPIF is capable of flexible investment within the permissible ranges of deviation to policy asset mix based on the adequate forecast of market circumstances,” it noted. Such forecast should be based on strong certainty, it added, but recent market circumstances were changing significantly “by economic environment but also by political conditions or international relations”.“In order to contribute to the formulation of investment strategy considering an adequate forecast of market circumstances based on more multidimensional analysis, GPIF procures an institution to provide information on investment strategy.”A contract for the project would last until 2020, but could be terminated at any time. Applications must be submitted by 31 January. EC to commission equity investment research The European Commission is looking for organisations to carry out a study on the drivers of equity investments by insurers and pension funds.It committed to the study last June when it presented a review of its work to forge an EU Capital Markets Union (CMU). The European Parliament also has pension-related mandates to awardAlthough also about pension funds’ equity investment, the Commission appears more focussed on the study analysing insurance companies’ investment behaviour.According to tender documents, the study “aims to inform and help the Commission’s support any policy initiatives in the area of fostering higher equity investments by insurance companies in the EU”.“Incidentally,” the Commission added, “this study will also contribute to the work of the Commission on pension funds.”More specifically, the study should help provide more data on the level of cross-border investment by national pension funds. Previous research from the Commission found that pension funds’ investments seemed to be significantly biased towards their domestic market or, where cross-border, to outside the EU.The Commission noted that the organisation mandated to carry out the study will also be asked to analyse investments in equity related to unit-linked and indexed linked insurance contracts in the EU, as well as investments in equity made by defined contribution pension funds.The deadline for applications to carry out the study is 19 January.Actuarial reports for European Parliament own schemesThe European Parliament is looking for organisations to conduct actuarial studies of certain of its pension schemes.It wants a report of the annual actuarial situation of each pension scheme, and projections and/or simulations of annual cash flows.Four schemes are in question: the retirement schemes for former members of the European Parliament (MEPs) elected in France and Italy, an additional voluntary scheme, and a survivor’s and invalidity pension scheme.The schemes were set up before July 2009, when there was no EU-shared remuneration and pensions system for MEPs, and MEPs’ pensions were payable by each Member State.The schemes are closed, although one member still contributes to the voluntary additional scheme under an exception to the rules.The French and Italian schemes owe their creation to the then unequal treatment of MEPs and members of their national parliaments with regard to pensions. The European Parliament set up schemes to make up for this, with coverage requiring MEPs to pay contributions to the European Parliament.The Italian and French scheme each have just over 250 members, the voluntary supplementary scheme almost 1,000, and the survivor’s and invalidity pension scheme 41.UK public pension fund seeks custodianThe administering authority of £7.2bn (€8.1bn) Lancashire County Pension Fund is looking for a global custodian. The total value of the contract would be between £900,000- £2.1m, according to a tender notice.last_img read more

Caesars Entertainment’s Jan Jones Blackhurst – Industry needs to get smart on diversity

first_img SBC Magazine Issue 9: Esports future, online shift and Brazil betting soap opera June 4, 2020 StumbleUpon UKGC orders Caesars to pay £13m following ‘serious systemic failings’ April 2, 2020 AIDP adds two new global advisors August 12, 2020 Share Submit Share Related Articles Jan Jones Blackhurst, the former Mayor of Las Vegas and current Vice President of Public Policy & Corporate Responsibility at Caesars Entertainment has highlighted gender equality concerns facing the global gambling community.Speaking to casino industry news source CasinoBeats (SBC.Global subsidiary), Blackhurst detailed that the sector had tainted itself during ICE 2018, a global gambling conference in which the sector hit headlines for ‘pole dancing’, rather than showcasing its latest technologies, products and services.Leading Caesars public policy, Blackhurst highlights a legacy detachment between gambling stakeholders and the reality of their products servicing a diverse marketplace.“In the US, for example, more than 50 percent of our slot-machine players are women, and I would think they would take offence to certain displays at the event. There is a difference between hiring attractive people to stand at your booth or area in order to draw attendees over, and hiring women who are wearing minimal clothing in order to draw over a limited demographic of men”.Beyond the exhibition floor of ICE 2018, Blackhurst supports former UK Gambling Commission CEO Sarah Harrison’s industry warning on diversity, detailing to CasinoBeats that industry stakeholders have to ‘understand the expectations of their regulators, and Sarah Harrison made her position very clear’.Blackhurst believes that it is simply too myopic, to believe that the industry is represented through its conference exhibitors and their choice of promotional representation.For Caesars VP, the talk of ‘promo girls’, pole dancers and sex, distracts from the real issues facing the sector on overcoming equality and diversity challenges.Blackhurst believes that future industry winners will be able to tackle diversity dilemmas head-on, as Caesars launches its ‘50/50 by 2025’ gender equality initiative.“At Caesars Entertainment, we have launched a gender equality initiative, called 50/50 by 2025, in our effort to increase the number of women in management levels and above to 50/50 by the year 2025. We want women at our company to know they are valued and respected for their thoughts, ideas and innovations.”last_img read more