Tuesday 26th July 2016
NEWS TICKER: JULY 26TH 2016: CACEIS is now depositary for the first two mutual ship funds under the German KAGB investment act. The two closed-end funds, “MS Marguerita” and “MS Tanja”, will both be managed by “MST AIFM Eins Fonds manager GmbH”, which is the investment management company of “MST Mineralien Schiffahrt Spedition und Transport GmbH.” Matthias M Ruttmann, managing director of MST explains: “We found CACEIS to be a flexible service provider, keen to seek out solutions for new asset types: Our ships will be the first of this asset type to be structured in a German AIF. We have put our trust in CACEIS`s experience in dealing with regulations and launching funds holding new asset types, so will have a solid framework for the launch of the funds.” Holger Sepp, Member of the Management Board at CACEIS in Germany added: “When entering the closed-end funds industry, we clearly committed ourselves to delivering depository service to all major asset types. We are very proud that MST has put its faith in CACEIS`s willingness and ability to service its ship AIFs. During the last couple of months, we have ensured we are fully prepared to handle all relevant requirements for the funds such as the depository function and relevant legal aspects.” -- Carillion, part of a 50:50 joint venture with Dutch Infrastructure Fund, have achieved financial closure on the Irish Schools Bundle 5 Public Private Partnership project that has been procured by the Department of Education & Skills alongside Ireland's National Treasury Management Agency. The joint venture will finance, build and operate five schools and an institute of further education located in counties Meath, Carlow, Wicklow and Wexford. The London-listed company said those construction activities alongside its equity interest will mean the project will generate around £190m of revenue for the business. Separately, EUS-Rokstad, a joint venture between Emera Utility Services and Rokstad Power, a business in which Carillion holds a 60% stake, has won a new contract in North America. The venture has been chosen by NSP Maritime Link Inc, a subsidiary of Emera Inc, as the transmission line contractor for its Maritime Link project that will transmit energy from Newfoundland to Nova Scotia and will connect Newfoundland to the North American grid for the first time in history. The joint venture will complete the high voltage direct current transmission line link under the contract, which is worth a total of £86m to the joint venture -

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Threadneedle discloses active share to improve transparency for investors

Monday, 02 February 2015
Threadneedle discloses active share to improve transparency for investors From January 2015 Threadneedle will report the active share of its equity funds, having announced its intention to do so late last year. http://www.ftseglobalmarkets.com/media/k2/items/cache/357de569890d3ba088b70dcce1e5475c_XL.jpg

From January 2015 Threadneedle will report the active share of its equity funds, having announced its intention to do so late last year.

In a move to enhance transparency and disclosure to clients, Threadneedle’s latest professional investor factsheets, to be published this week, include each fund’s active share, a measure of how much the fund’s holdings deviate from its underlying benchmark. A portfolio with no holdings in common with its benchmark would have an active share of 100%.

Campbell Fleming, chief executive of Threadneedle Investments, explains the move “is about transparency and accountability. As managers we have a duty to demonstrate the value we deliver by providing information that enables investors to evaluate, monitor and assess fund manager performance. Used in conjunction with other data, active share is another measure for investors to assess whether they are getting what they expect from a manager."

Threadneedle will report the active share on over 30 of its equity funds as at 31 December 2014. The majority of these show an active share above 70%.  For private investors, the active share of available funds will be added to Threadneedle’s website along with investor information to support the use of this metric, as it is a relatively new measure for UK investors.

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